29 Jun '14, 5pm

Extortionists Are Using Bitcoin To Steal Cash From Business Owners

Extortionists are going completely anonymous thanks to social media and bitcoin. Brian Krebs just posted on a number of pizzerias that received anonymous letters asking for one bitcoin in order to keep the owners from receiving bad ratings on Yelp, the Better Business Bureau and the like as well as to keep the extortionists from “SWATing” – calling the police to report violent crimes or drugs on the premises. After the deadline the price goes up to three bitcoin – a few thousand dollars – and then the badgering begins. This also includes denial of service attacks and vandalism. Thanks to BTC , however, the extortion is vilely effective. The pizza places have until mid-August to comply, the time lag added to presumably allow the non-techie owners to open a Coinbase account. Sandra Alhilo, general manager of Pizza Pirates in Pomona, Calif., received the extortion demand on J...

Full article: http://techcrunch.com/2014/06/29/extortionists-are-using-...

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