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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Peter Schiff’s Alleged Tax Evading Bank Was Targeted By Bitcoin Ransomware

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
3 mins read
peter schiff bitcoin ransomware tax evasion euro bank

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Peter Schiff is one of Bitcoin’s 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 Schiff’s 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 Schiff’s 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 Schiff’s favorite asset has fallen steadily against the leading cryptocurrency by market cap (chart pictured below).

Related Reading | Move Over Bitcoin: Pro-Gold Peter Schiff Blasts the Stock Market Bubble

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

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

xaubtc gold bitcoin peter schiff tax evasion ransomware

To 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 doesn’t go on to explain the end to the Bitcoin ransomware story but has only turned the first few pages on what is alleged to be an international tax evasion operation, fronted by Schiff.

Peter Schiff was recently a guest on 60 Minutes Australia, where he was bombarded with questions regarding the allegations involving his Euro Pacific Bank. The interview ended with Schiff exiting abruptly, refusing to answer more questions.

Related Reading | The Most Common Bitcoin Scams And How To Avoid Them

According to the allegations, Schiff’s bank is part of a multi-national tax sting called Project Atlantis. Euro Pacific Bank was found to serve clients known for financial crimes, and potentially aided customers in skating local tax laws by moving money to the offshore bank located in San Juan, Puerto Rico.

A joint investigation by The Age, The Sydney Morning Herald, 60 Minutes, and The New York Times claims that Euro Pacific Bank’s customers are now being investigated as part of Project Atlantis. Details also suggest that The Perth Mint is also involved in some way.

The Age says, that Schiff’s father was a “martyr of the tax resistance movement” and these allegations suggest that Schiff is following in his father’s footsteps.

Featured image from Deposit Photos, Chart from TradingView.com
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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