Published: Thu, March 14, 2019
Economy | By

Bitcoin double spenders and other police news Wednesday

Bitcoin double spenders and other police news Wednesday

The fraudulent transactions occurred in Calgary, Toronto, Montreal, Ottawa, Hamilton, Winnipeg and Sherwood Park between September 16th and September 26th, 2018. The attacks took place in 7 cities across Canada, half of them taking place in Calgary. Those attacks involve withdrawing money from a bitcoin kiosk and remotely canceling the transaction before the company can process the withdrawal.

"All four suspects are described as adult males and are believed to have in-depth knowledge or interest in cryptocurrency, Bitcoin. or blockchain technology", police said in a statement.

The portal further stated that each of the four suspects are accused of attacks in specific cities, which are listed below:Suspect One: Toronto, Montreal, Ottawa and Hamilton.

It seems that cryptocurrencies are still not ready for common daily transactions.

The other two suspects in the case have been found to have attacked and withdrawn the amounts from Winnipeg and Sherwood Park respectively. Though the identities of the perpetrators are not now known, the Calgary police are requesting the public's help in identifying them. The tools themselves weren't created for such activities, but allow for "stuck" transaction to go through using additional fees.

The attacks were carried out at a point that the Bitcoin ATMs accepted zero-confirmation transactions.

CPS believes that the suspects committed the so-called "double spending". In addition, you can optionally specify that the first transaction additional OP-RETURN, multisig, and "blacklisted" address outputs.

The Calgary Police Service's cybercrime team has been leading a national investigation into the fraudsters since October with assistance from agencies across the country, including the Toronto Police Service, Hamilton Police Service, Winnipeg Police Service and Halton Regional Police Service.

Some miners won't accept transactions with these output types; those miners will accept the second double-spend transaction, helping you achieve a successful double-spend.

Individuals with any leads can submit their tips to Crime Stoppers.

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