Get Some Holiday Money & Bitcoin Prizes in Bitcasino’s New August Promo

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If you still haven’t booked a holiday because you’re not quite sure you have the money to spare, Bitcasino will give you a chance to win a free one with its latest August Giveaway promo. Until the end of next week, the casino is hosting a new competition that will see one lucky player win a holiday package, while 20 other competitive punters will get to reap some nice cash rewards. Learn more about this latest Bitcoin casino promotion by reading our full scoop.

A Holiday for 2 and More!

The August Giveaway promo was launched this week on August 13th and it will run until Sunday next week – August 26th. During this time, members at the casino will have to play any casino game they like and accrue points by wagering their Bitcoins in order to get some free prizes.

The first round of prizes is given at the end of this week, when the top 20 players in the competition will get a reward of μɃ 500 each.  The main prizes, on the other hand, will be given only to 10 players at the end of the second week and they are distributed as follows:

  • 1st place – Travel voucher for 2 worth μɃ 700,000.
  • 2nd place – μɃ 30,000
  • 3rd place μɃ 20,000
  • 4th place – 10,000
  • Places 5-6 – μɃ 5,000
  • Places 7 -8 – μɃ 3,000
  • Places 9-10 – μɃ 1,000

To officially enter the competition, you will need to log into your account, visit the bonus page, and then click “claim” next to the August Giveaway bonus label. Once you do, you can start playing any game you want to win some points and climb up the leaderboard.

The casino will give you 1 point for every μɃ 5,000 wagered on a table game or a live dealer game and 2 points for the same amount wagered on any slot. The max of 5 points is given to anyone that makes a deposit during the promotion period. Bitcasino players have already begun climbing up the leaderboard, so if you want to secure your spot for a prize, you’d want to check out Bitcasino today!

Video Poker Tournaments Also Live at Gossip Slots

If you prefer playing Video Poker machines instead of slots, Gossip Slots Casino has a different tournament for you that offers a prize pool of $2,000 in BTC equivalent. The tournament is restricted to a single game of All American Poker Single Hand from Arrow’s Edge, which comes with a double-up feature and a jackpot prize apart from standard Video Poker features.

To enter the tournament, you need to be a member of Gossip Slots Casino and opt-in for the competition at the casino’s tournaments page. The buy-in fee is $25 and the points are collected by wagering on the selected game. The best player gets to win a prize of $1,000 while the second- and third- best players will receive prizes of $750 and $250, respectively. The competition began yesterday, August 16th, and it will last until the end of month, August 31st. To sign up, just go to Gossip Slots Casino and find the competitions menu.

August 17, 2018: • No Comments

Gambling Apps Become Second Most Distributed Cryptocurrency Apps

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One of the most popular blockchain-based apps thus far was CryptoKitties. If you still haven’t seen the app, CryptoKitties is one of the most popular blockchain apps around that allows users to buy, breed, collect, and sell virtual cats. The app is based on the Ethereum network, which it congested back in 2017 due to the app’s massive popularity. But according to recent findings, cryptocurrency gambling apps have far surpassed the popularity of CryptoKitties and become the second most popular type of blockchain apps.

New Blockchain Gambling App Accrues Over $40 Million

The rapid success of Crypto Kitties is nothing when compared to a new app called FOMO3D, which reportedly generated over $40 million in investments to its platform since it was launched a month ago. Labeled as “your exit scam” this new web app doesn’t inspire too much confidence but it does show how new blockchain-based products can skyrocket in popularity. It also got five times more users than CryptoKitties in only 24 hours since its appearance.

According to the official website of the app, FOMO3D is a “psychological social experiment in greed” that simulates the feeling of investing in shady ICO campaigns. The objective of FOMO 3D is to buy Ethereum-based tokens for each round of the ICO and hope that you are the last person to invest before the timer runs out.

Each purchase of tokens extends the ICO round timer by 30 seconds, with the maximum run time being 24 hours. If you are the last person to buy a token, you get to pull an “exit scam” and collect the daily money pot which other players invested in. There’s also a main ICO pot worth millions that no one knows when it will be won as well as small “airdrop” pots that can be won regularly.

The fast popularity of the app shouldn’t be that surprising, considering recent trends in the industry. As reported by Calvin Ayre and based on data from DappRadar, gambling apps are second by distribution out of all blockchain-based apps. The number one spot, naturally, is reserved for cryptocurrency exchanges. Sales of tokens related to gambling businesses have continued to grow, with the official numbers saying that over $300 million was invested via ICO campaigns thus far in more than 20 different blockchain-related gambling ventures.

Even Social Casinos Explore Blockchains

The blockchain gambling space isn’t only reserved for cryptocurrency casino operators and token-based online games. Even social casinos which are often seen as “fun casinos” that don’t offer gambling are now entering the blockchain casino space. Just this week, a European social casino game maker, KamaGames, announced that it will be launching its own KamaGames token which will likewise be based on the Ethereum platform.

According to a press release from the company, they are planning to create a token that will make it easier for the 100 million + users of the social casino to buy in-game currency for its games. The company is planning to sell approximately $25 million in tokens, which will be earned by selling in-game chips collections and bulk blocks of tokens for the best price. Players who don’t spend their tokens will get to reap rewards which are expected to grow over time. However, since the tokens can’t be exchanged for anything else but chips, the sale isn’t labeled as an ICO campaign nor is the company technically stepping into “gambling” territory.

August 15, 2018: • No Comments

Play Bitcoin Dice With 0.7% House Edge at Fortune Jack!

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Bitcoin dice games might have lost some of their popularity with punters when big-time software providers entered the Bitcoin casino scene and brought tons of fresh games. But they are very well alive at Fortune Jack Casino, which still hosts a dice game with a special progressive jackpot. And not only is Dice offered around the clock at Fortune Jack, but the casino just cut down the house edge of the game, creating a brand new offer that is hard to ignore.

99.3% RTP and Progressive Dice Jackpots

Fortune Jack has been making more than enough changes in its casino platform recently, especially when it comes to player rewards. One of its latest changes was to rename Wednesdays on the platform as Dice Days and give a special incentive for all dice players during that day only. Namely, every Wednesday, Fortune Jack Casino will lower the house edge on its popular dice game from the standard 1% to a more appealing 0.7%.

That’s a player return rate of 99.3% every Wednesday – more than almost every other Bitcoin slot online and even some of the most popular table games! As the casino explains it, the game hasn’t been tampered in any way and is still provably fair, only the chances of hitting a winning roll and triggering the special jackpot are increased every Wednesday.

To win the dice jackpot, you will need to make 8 consecutive rolls. The first digit of your first roll has to be 1 and every subsequent roll should produce a number that has a higher first digit by 1 (ex. 1x.xx; 2x.xx; 3x.xx; 4x.xx, etc). If you successfully complete all 8 required rolls, you can win anywhere from 20% to 80% of the tournament prize pot (depending on your wager) which is currently over 2.5 BTC. The lowest wager starts at only 0.000001 BTC and the max bet is 1 BTC per roll.

If you want to try your luck today, you can use this link to visit Fortune Jack Casino.

New Slot Tournaments Also Available at BetChain

If you prefer to play slot games instead of dice, you might also want to take a look at BetChain Casino where a new Slot Blitz tournament is currently active. The prize pool of the tournament is a fixed €500 and it will get distributed over the top 5 players who play the selected slot games. There are a total of 70 slots that were hand-picked for the tournament, including popular games like Satoshi’s Secret, Voodoo, and Platinum Lightning Deluxe.

The first spot on the leader-board gets a prize of €200 while positions 2 and 3 get smaller prizes of €100 in BTC equivalent each. Players who rank 4th and 5th, naturally, get the smallest prizes of €50 each. But if these rewards aren’t enticing enough for you, you can also check out BetChain’s upcoming Spin Fest tournament. Spin Fest is a new weekly competition that’s open for all games and has a prize pool of €10,000 and 1,000 Free Spins. To learn more about this offer, just head down to BetChain’s website.

August 10, 2018: • No Comments

Cryptocurrency Gambling Turns Dark with Bets on Assassination Attempts

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Up until a few years back, cryptocurrencies were often tainted with a lot of bad press. This was mostly due to the wide-spread use of digital coins like Bitcoin in illegal markets on the dark web where guns, contract hits, and other illegal items or activities could be paid for with cryptocurrencies. For the most part, those days are far behind us as the majority of top coins are nowadays largely used only by investors and people who want to gamble with cryptocurrencies online. Most darknet criminals, on the other hand, have moved on to using more obscure crypto assets or other forms of payments.

However, every once in a while comes a news update that shows that cryptocurrencies are still not completely detached from being used for shady purposes. One such example is the latest report about Augur – a prediction marketplace that was launched very recently and a site that allows people to bet on whether celebrities will be assassinated or not.

Give People Freedom and They Turn Dark

Augur isn’t really one of the many new cryptocurrency online casinos that have recently appeared on the web. On the contrary, it is more like an uncensored platform where users can launch their own prediction markets on any topic. The site was launched a short while back after raising funds from an ICO campaign that began in 2015. The whole platform is based on the Ethereum protocol and as such it allows users from across the globe to create smart contracts for launching prediction markets, thus bypassing gambling restrictions by technically not breaking any laws.

Even prior to its launch, users on the site’s forums speculated how long it would take before prediction markets appeared for assassination attempts. It turned out that the answer was coming very soon as members on the site have already created a number of such markets. Some of these markets predict whether US President Trump will be assassinated by the end of the year while others predict the deaths of people like Warren Buffet or actress Betty White.

Although Augur’s assassination markets attract very few bettors, as opposed to its large World Cup markets from this summer, they still have caught the public’s eye with their macabre predictions. Some reports suggest that even proposing such bets could stimulate individuals to attempt an assassination if a payout for the completion of the bet is high enough to motivate them. Luckily, the current amount of wagers spent on such markets is really small.

Not Only Wrong But Also Illegal?

Not only do they seem wrong but Augur’s markets may also be breaking some legal restrictions, particularly in the US. Prediction markets in the country are technically illegal since a clear distinction between online gambling and prediction markets is yet to be set by the legal system. Furthermore, the platform also allows users to place bets on the values of commodities in the future. This particular activity is very similar to binary options trading, which is illegal without prior approval from the CFTC which the site lacks.

August 8, 2018: • No Comments

Enjoy Ripple Deposits and New Bitcoin Slot Tournaments at Drake Casino and Betcoin

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Yet another weekend is coming around the corner that will hopefully leave you more time to enjoy yourself and have some fun at your favorite casinos. And like with every new weekend, we have some novelties to share with you regarding some of today’s leading Bitcoin casinos. For slot fans, Drake Casino has just opened its new monthly tournament that will end up paying thousands in cash prizes to the top fourteen players. And for fans of both sportsbetting and online casino games, Betcoin recently integrated Ripple deposits for faster and easier cryptocurrency gambling. Learn more about either offer by reading our full update.

$5,000 in BTC Prizes at Drake Casino

At every start of the month, Drake Casino launches a new $5,000 monthly tournament for a selected slot game. This month is no exception and the casino once again opened a new leg of its long-running slot competition. Again, the only requirement you need to fulfill to enroll is to be a member of Drake Casino and use the special “register” button.

The selected slot game for this month is Robin in The Woods by Arrow’s Edge. This 5×4 slot machine has 40 paylines and more than a few bonus features, including free spins rounds and cash side-games. And now, it can also get you an extra prize of $2,000, as long as you end up on the first position on the tournament’s leader-board. There are a total of fourteen different prizes and they are given as follows:

  • 1st place – $2,000;
  • 2nd place – $1,000;
  • 3rd place – $750;
  • 4th place – $250;
  • Places 5-14 – $100 each.

Currently, there are 47 players enrolled in the tournament, which means that the competition isn’t very high. The competition will officially end on August 31st, just before midnight, after which the prizes will be paid according to the leader-board. To check out the current prize contenders and learn more about the competition, just go to Drake Casino and visit the tournaments menu.

Ripple Casino Games and Sports Betting Now at Betcoin

Betcoin is a multi-faceted Bitcoin gambling site that provides both sportsbetting services as well as casino games to cryptocurrency punters. The site has been going through a number of changes lately, some of which saw the platform introduce more than a few new cryptocurrencies for its punters. The latest coin to arrive at Betcoin is Ripple and it was already officially integrated on July 31st, 2018.

Ripple (XRP) may not offer big gains like Bitcoin or Bitcoin Cash but its value as a cryptocurrency isn’t really about investment profits. As the third-ranking digital coin by market capitalization, Ripple is not only a cheap and fast cryptocurrency but also a coin that can be used in dozens of online businesses, including Betcoin’s online casino.

Offering the fastest transaction times of all cryptocurrencies and very low fees, Ripple can allow you to easily enjoy over 1,400 casino games at Betcoin. And if you are in the mood for something else, you can also use Ripple to enjoy plenty of standard and live betting opportunities at Betcoin, a poker platform, as well as provably fair dice games, among many other options.

August 3, 2018: • No Comments

Prague, the Czech Republic has the Most Bitcoin-Accepting Businesses in the World

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Bitcoin has lost its $8,000 position and fell at $7,500. Nevertheless, the world of cryptocurrency remains relevant and entertaining as numerous articles keep their focus on Bitcoin and its fellow cryptos. One of the most amusing such articles is the analysis published by Forbes, which reveals the top 10 cities in the world when it comes to Bitcoin-accepting businesses.

Namely, the author has used Coinmap to find bitcoin hotspots and rated cities worldwide depending on the number of Bitcoin vendors. Possibly a bit surprising, the results place Prague, the Czech Republic at the top with a total of 147 such businesses. This means that Bitcoin fans can use their coins at a significant number of shops and stops around Prague.

The list goes on to include Buenos Aires in Argentina, San Francisco in USA, Madrid in Spain and New York City in USA as the other top cities for using Bitcoin. These Bitcoin hubs have respective numbers of Bitcoin-accepting businesses as it follows: 141, 117, 101 and 101. The list of top 10 is concluded with Amsterdam (The Netherlands), Bogota (Colombia), Vancouver (Canada), London (The UK) and Paris (France).

Skrill Adds Support to Bitcoin Transactions

In other positive news, the popular e-wallet Skrill, which is part of the Paysafe Group and sister-company to Neteller, has added support to Bitcoin transaction. In addition to buying and selling Bitcoin, users of the service are also able to do the same with Litecoin, Ethereum and Bitcoin Cash. This means that the 25+ million users of Skrill from over 30 countries worldwide are given the option to easily and safely complete cryptocurrency transactions.

Company’s CEO, Lorenzo Pellegrino, expressed excitement for adding Bitcoin support on the Skrill platform. The new four cryptocurrencies join a total of 40 different fiat currencies accepted by Skrill. Moreover, Pellegrino announced that Neteller would also follow the steps of Skrill and its users could expect to be able to make Bitcoin transactions in the near future.

The support to Bitcoin, Bitcoin Cash, Litecoin and Ethereum has been rolled out already in most of the countries. However, Russia and the USA are exceptions due to the countries’ strict regulations regarding cryptocurrencies.

Qiwi Office Worker Mines 500,000 BTC Using Company’s Computers

As it was reported by the Metro, a Qiwi employee has used a company’s computer when the offices were closed in order to mine around 500,000 BTC. Sergey Solonin used to be an IT manager at Qiwi, a Russian online payment provider and has apparently been using their computers to amass a fortune for himself.

Reportedly, Qiwi’s security department noticed unusual high levels of operation of certain computer at night; this period was usually a quiet one for the offices. This was happening back in 2011 and it became widely known just now after the company has failed its attempts to get the secretly mined coins. According to those familiar with the story, the head of Qiwi asked Solonin to return the Bitcoins to the them, but the employee decided to leave the firm instead.

At the time being, it is not known what Solonin has been up to, considering he owns £3.5 billion in Bitcoin.

August 1, 2018: • No Comments

Bitcasino Adds New Mobile Cashier and Ethereum Support

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Some Bitcoin casinos never do much to improve their offer while others constantly work hard to keep their platforms fresh and in touch with modern trends. One of the most popular cryptocurrency casinos online, Bitcasino, has once again proved that it belongs in the latter category with its newest platform update. Adding Ethereum deposits and a mobile cashier, Bitcasino just became a much more practical casino site that can now appeal to a wider range of players.

Progress is a Continuous Process

Ever since it appeared online a few years back, Bitcasino has been continuously changing the way its website works and adding new features to it to accommodate loyal players and attract new punters. The latest update the casino made is to introduce a new cashier function and open its doors to players who’ve invested in the second most popular cryptocurrency – Ethereum.

Ethereum deposits and withdrawals are now live at the platform, offering you a chance to enjoy faster transactions and smaller fees when gambling with cryptocurrencies. To play any of Bitcasino’s top online casino games with Ethereum, you just have to visit your deposit page and use the QR code at the cashier to send some ETH coins to your balance. And thanks to Bitcasino’s new mobile-first banking option, you can do this even more easily than before. Optimized to work on any device, be it an Android or an iOS phone or tablet, the new mobile cashier will make it really easy to place a wager on the move.

Another benefit you get when playing at Bitcasino is its recently-introduced BTCXE fiat-to-Bitcoin converter. Added back in May 2018, this converter can be used by anyone who wants to play casino games with Bitcoin but has only fiat money to spend.  As simple as ABC, the BTCXE converter will let you deposit with fiat money and instantly get some Bitcoin to spend on the casino’s games. To try out this feature or the new mobile cashier, simply go to Bitcasino.io.

More Novelties at Fortune Jack

Another casino that doesn’t stop improving is Fortune Jack. Only last week we wrote about the casino adding new slots and table games from Amatic and Elk Studios and now Fortune Jack does it again and introduces Habanero games. Habanero is a studio known for its selection of vibrant slot machines and classic table games like Baccarat No Commission, Caribbean Hold’em and 3-Hand Blackjack.  Around 90 of the studio’s enticing games can now be found at Fortune Jack Casino along with hundreds of other top choices.

And not only does Fortune Jack have new games to brag with, but it also has some interesting promo offers that are open to all new players. Starting with 25 free spins, no deposit needed, and continuing with a total bonus package of up to 5 BTC on your first four deposits, Fortune Jack really knows how to say thank you for choosing its platform. Learn more about these promo offers and the games available at the site when you head down to Fortune Jack Casino.

 

July 27, 2018: • No Comments

Offshore Bitcoin Casinos Probed by Australian Media Watchdog

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Australia’s media watchdog, the ACMA (Australian Communications and Media Authority) has recently launched a new investigation into a number of offshore sites that provide gambling services to local residents. The goal of the investigation is to inspect the legality of the offshore operators, a number of which even offer gamblers an opportunity to use Bitcoin to gamble online.

Bitcoin Gambling Sites Pretend to Be “Australian”

As reported by ABC Australia, ACMA’s investigation targets several betting sites which have acquired web domains with the “.cc” extension – an extension reserved only for businesses from within the Cocos Islands. The Cocos Islands are located in the Indian Ocean and they are governed and regulated by the Australian government. But when it comes to web addresses, they have their own unique internet code.

The sites registered under the “.cc” domains reportedly offered a wide range of gambling services to Australian punters, including casino games and live betting on a number of popular sports in the country like Super Netball and Capital Territory Soccer. A few of the registered domains were also set up as Bitcoin casinos that allow deposits and withdrawals in cryptocurrencies.

However, as the media portal reported, the location of these gambling operators was actually traced back to a number of other territories, including Eastern Europe and the Caribbean Islands. The ACMA was thus prompted to investigate whether the operators breached the local IGA (Interactive Gambling Act) by operating the said domains.

According to the Act, offshore operators are forbidden to provide gambling services to local customers and so are any operators that are based in an Australian territory but don’t hold an Australian license.  A local expert on gambling legislation, Dr Charles Livingstone, thus believes that these operators directly breached the law as they were using Australian domains but weren’t registered in a jurisdiction of the country.

More Than One Issue and Not the First Case

Operating without an official local license isn’t the only issue of the reported casino operators. Per the law, even locally-licensed sites are not permitted to provide live sports betting services which the domains under investigation freely offered. Furthermore, a portion of these sites were also allowing wagers to be placed through Bitcoin, Ethereum, and other top cryptocurrencies – a service that isn’t regulated by the local gambling legislation.

The latest investigation is also not the first time ACMA has investigated breaches of the IGA by offshore gambling operators. Prior to this case, in March 2018, the media watchdog investigated the abuse of the “.cx” domain extension which was reserved for yet another external territory of Australia – the Christmas Islands.

Namely, a few months back the JustBet gambling site was caught operating with a “.cx” domain name without being registered or located in an Australian territory. The site was then tracked to Central America, and after ACMA’s investigation, it eventually dropped its former domain name and reopened with a “.co” web address used by Colombian businesses. The site also closed its doors to Australian punters after its re-launch and began to focus on other territories instead. If the currently-investigated operators are also officially found to be in breach of regulations, they are expected to follow suit and cease to cater to Australian punters.

July 25, 2018: • No Comments

New Bitcoin Slots and Weekly Casino Tournaments Now Live at Fortune Jack and Betchain

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If you’re looking for new Bitcoin casino games to play and new BTC cash prizes, you’re in luck, because two leading Bitcoin casinos have just added some novelties to their offers. Providing you with a chance to enjoy slots from a long-standing European game maker and fresh weekly slot tournaments, Fortune Jack Casino and BetChain can both give you reasons to go online this week and play top casino games. To get more information about these fresh offers, just keep reading.

Fortune Jack Adds Amatic and Elk Studios Games

Maintaining its status as a leading Bitcoin casino that never stops improving its platform, Fortune Jack has just added new slot machines and table games from land-based casino veteran Amatic and rising online software provider Elk Studios. That’s around 70 new Bitcoin casino games that you can enjoy at Fortune Jack, apart from the dozens of other great games from the likes of NetEnt, Quickspin, BetSoft, and more.

If you haven’t heard about Amatic yet, this Austrian company has been making hit slot machines since 1993, starting first in the land-based casino sector before expanding online. Currently, Amatic is part of the Novomatic group – a gaming company whose logo you can find all over European land-based casinos. Fortune Jack has added more than 40 new games from this traditional studio, including classic slots like Lucky Bells and Hot Star, modern slot machines like Wolf Moon, as well as table games like Roulette and Blackjack.

As for Elk Studios’ games, they are around 20 in number and they are mostly slots. This Swedish software maker had started only a few years back, in 2012, but its already making a name thanks to its hit slots like Taco Brothers, Poltava, and the 3-reel classic Ivanhoe, all of which can now be found at the casino. To see exactly what’s been added to the ever-increasing portfolio of this top BTC casino operator, you can pay a visit to Fortune Jack.

New $10,000 Weekly Slot Tournament at BetChain

If you’re a competitive BTC slot player and want to grab free cash rewards for playing top online slots, BetChain Casino has just added a new tournament that can cater to your needs. After the success of its monthly Slot Blitz competition, the casino decided to add a new weekly Spin Fest tournament. And this time there’s a prize pool of $10,000 and 1,000 Free Spins!

This incredible prize pool will be given every week and split between 20 different players, with the first, second, and third player on the leaderboard getting a prize of €5,000, €2,000, and €1,000 in BTC equivalent, respectively. The rest of the leaderboard is reserved for cash prizes that vary between €700 and €50 as well as free spins rewards of 35-200 free spins.

The best part of the promo is that all you have to do to get yourself one of these prizes is to be a member of BetChain casino and play any of its available slot games. Yes, you’ve heard that right, any game is applicable. The current leg of the competition ends in 14 hours, but if you want to get a head start for the next one, you can go to BetChain and take a look at the rules and prize board.

July 20, 2018: • No Comments

China Police Busts Huge Bitcoin Gambling Ring

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China has always been at the center of cryptocurrency events, most prominently during the period of 2009-2017 when the country was repeatedly cited as a major contributor to Bitcoin’s rapid growth. But after China’s ban on ICOs and foreign exchanges in 2017, cryptocurrency transactions in the country went down to a reported 1% last month, diminishing China’s role in the global market to being a very small player.

However, as newer reports show, that number may be taking only legal transactions into consideration. Namely, a few days ago the Chinese authorities just finished with one of the largest cryptocurrency-related busts which showed that more exchange of digital coins was taking place than noted. At the center of their operation was an illegal betting ring that allowed members to use cryptocurrencies to gamble online, under the radar of Chinese authorities.

$1.5 Billion in Illegal Transactions

As reported by Xinhua, China’s media agency, authorities in the Guandong province have just finished a huge cryptocurrency gambling sting operation in the area. The target of the operation was an illegal betting ring that operated on the dark-web and provided opportunities for internet users to enjoy sportsbetting  with cryptocurrencies on the World Cup. And the arrests came just as the illegal ring was preparing to have one of its most profitable weekends during the World Cup finals.

Arrests were made of six alleged members of the crime syndicate that devised the scheme and a significant amount of money was seized. Personal bank accounts estimated to be worth a total of $750,000 were frozen and the authorities seized more than $1.5 million in cryptocurrency assets.

The anonymous gambling operation was reportedly run for eight months, during which it attracted over 330,000 users. The amount handled by the betting ring is estimated to be worth $1.5. billion, most of which was transferred in Bitcoin, Litecoin, and Ethereum coins. As detailed by the authorities, the operation had more than 8,000 individuals involved as “affiliate” agents who banked in commissions for bringing new members in.

Illegal gambling during the world cup in Asia isn’t a new fad. Illegal online betting rings were also active during the World Cup 2014, only the local authorities had a tougher time cracking down on them then due to limited technological resources. But as new ways to track dark-web operations were devised, China’s police was able to make its biggest online gambling bust thus far.

WeChat Closes Over 50,000 Accounts

One of the channels that facilitated illegal online gambling in China was the country’s most used mobile app – WeChat. WeChat is actively used by nearly a billion people each month, with Chinese residents making up for 90% of the users. It’s one of the biggest communication channels across the globe and it can also be used as a payment service. And it is this second function of the app that made illegal betting online possible.

For a country that doesn’t tolerate any form of gambling, WeChat was a great tool to bypass local restrictions through the use of proxies. As reported, Chinese locals used the app to communicate their betting requests and send money to third parties offshore who bet on their behalf. But it wasn’t long before the scheme was uncovered and the WeChat team responded by closing approximately 8,000 groups and 50,000 accounts during the World Cup

July 18, 2018: • No Comments