Bitalo sets a 100 Bitcoin bounty on blackmailer

Hello

Your site is extremely vulnerable to ddos attacks.

I want to offer you info how to properly setup your protection, so that you can’t be ddosed! My price is 1 Bitcoin only.

Right now I will star small (very small) attack which will not crash your server, but you should notice it in logs. Just check it.

I want to offer you info on how I did it and what you have to do to prevent it. If interested pay me 1 BTC to [Bitcoin address]

Thank you.

What do you do when you receive such a threat ? Pay the ransom? Well,  Bitalo’s CEO has done exactly the opposite, he has placed a bounty on the blackmailers head, a huge one at that.

Blackmail

Bitalo recently received a blackmailing threat with the blackmailer threatening to DDoS the site’s network until Bitalo paid him. This threat was made by a user who goes by the pseudonym DD4BC. Not only did Bitalo not accept the request, they hit back by setting a huge bounty on his head. The bounty is for 100 BTC which in monetary terms, converts to  about $32,859 or £20,599 at Tuesday’s exchange rates.

This price may appear steep, but according to Bitalo, this is an indication to show how serious they are about their business. He also noted that their user’s funds and their system where never going to be put at risk as they used a multi-signature setup, Therefore, such blackmailers would always prove futile in their quests, but they could harm smaller websites and therefore eradicating such extortionists was needed. Fear and uncertainty take their toll as well: Bitcoin value plummeted after the fall of Mt. Gox.

DD4BC’s DDoS attack on Bitalo lasted two days. Albert, CEO of Bitalo,  said that the company soon found out that the same attacker was behind threats to others. The list of DD4BC’s targets include exchange CEX.io and Bitcoin sportsbook Nitrogen Sports, Albert said.

Previous Bounties placed on blackmailers Include

  • ?37.6875 (approx. $12,331, £7,710) For help in catching whomever broke into the email accounts of Satoshi Nakamoto – the person or people who created the Bitcoin protocol and reference software – and Bitcoin angel investor, evangelist, the founder himself of the Bitcoin Bounty Hunter site, and a man known by some as the “Bitcoin Jesus”, Roger Ver.
  • ?2.1249 (approx. $698, £434) For help in catching whomever’s behind the missing 600K BTC from Mt. Gox.

History

Roger Ver narrated the reason behind the birth of the Bitcoin bounty hunter. It all started when a hacker managed to gain access to Ver’s email account. They threatened to steal his identity among other things unless he decided to pay up. Initially, he offered a 37 BTC bounty for information on his Facebook page. Problem occurred when he started getting loads of information, some useful, other useless but he had no idea what to do with such information.

Thus was Bitcoin Bounty Hunter born: a site that allows anyone to offer information and claim a bounty anonymously. It relies on the site proofofexistence.com, which requires informants to send in details in a manner that proves that they know something without revealing what it is that they know.

When asked why not just report such miscreants to the cops, he replied “The police in California did absolutely nothing to help, they didn’t even lift a finger. Going to the police, traditionally, they don’t do much of anything to help at all. By providing a bounty I think you can provide an incentive to have anybody – including the police – to actually do the right thing and help victims of crimes.”

If you are ready to earn some serious stuff, find DD4BC and claim 100 BTC (worth $33804.00 at todays market rate) from Bitalo

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