Peter Schiffs Alleged Tax Evading Bank Was Targeted By Bitcoin Ransomware

Wednesday 21 October 2020, 2:29 PM AEST - 1 month ago

Peter Schiff is one of Bitcoins biggest naysayers. The well-known gold bug recently had his dirty laundry aired out for all to see, as part of an alleged tax evasion case involving his Euro Pacific Bank.

As part of an exposé, it was revealed that Schiffs offshore bank was once the target of Bitcoin ransomware, and could explain his deep-rooted hatred toward the number one cryptocurrency by market cap.

Peter Schiffs Gold-Backed Bank Was Held Ransom By Bitcoin Hackers

Crypto investors might know Peter Schiff due to his constant bashing of Bitcoin on Twitter. Precious metal investors might recognize the name associated with buying and selling gold.

Schiff is also well known in the world of finance for accurately predicting the Great Recession that Bitcoin was born during. Since that day, Peter Schiffs favorite asset has fallen steadily against the leading cryptocurrency by market cap (chart pictured below).

But that may only be one of several reasons for Schiffs distaste in the crypto asset.

Euro Pacifics former IT director, John Ogilvie, revealed to The Age Australia that Schiffs bank had notable security flaws, that included a ransomware attack where Russians demanded 1000 BTC.

xaubtc gold bitcoin peter schiff tax evasion ransomwareTo Peter Schiff's dismay, Bitcoin has outperformed gold since it came into existence | Source: XAUBTC on TradingView.com Euro Pacific Bank Under The Microscope Over Alleged Tax Evasion

Bitcoin ransomware is a common scam typically involves hackers taking over and locking down computer infrastructure, and then demanding a sum of BTC in exchange for restoring access to these critical systems.

The Age doesnt go on to explain the ...

Read full story on NewsBTC

Disclaimer: The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.