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Bitcoin Scams

Bloomberg: Cryptojacking Is The Most Serious Cyber Threat In Some Countries

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The unauthorized use of another one’s hardware to mine cryptocurrency, known as cryptojacking, has recently become the biggest cyber threat in many parts of the world, according to recent reports from Bloomberg.

The latest crypto news shows a research from the cyber security research firm Kaspersky Lab where cryptojacking overtook ransomware as the biggest and fastest rising cybersecurity threat especially in countries like the Middle East, Turkey and Africa.

The data from Kaspersky also showed that “crypto mining attacks have risen almost fourfold in the region from $3.5 million in 2017 to $13 million this year.” The cybersecurity company also claimed that cryptojacking incidents are “likely to continue given the increased use of digital currencies.”

Aside from PC, smartphone users are also targeted by unauthorized mining software. These kinds of attacks have risen by 9.5%. The Senior Security Researcher at Kaspersky named Fabio Assolini, told Bloomberg the following:

“The [Middle East, Turkey, Africa] region is becoming more appealing to cyber-criminals, with financial and malicious cryptomining attacks taking center stage.”

He also claimed that such attacks are becoming more popular since they are “less noticeable” than ransomware.

“Last year we asked what tips the scales for cybercriminals? Today, this is no longer a question. Miners will keep spreading across the globe, attracting more people,”  Assolini stated.

Cryptojacking is not the only way in which cybercriminals use cryptocurrency, but definitely the most popular one.

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Bitcoin Scams

Israeli Brothers Arrested For Bitfinex Exchange Hack

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The latest altcoin news show that two Israeli brothers have been finally arrested as the suspects for the Bitfinex cryptocurrency exchange hack. However, this is not the only case that these Israeli brothers are involved in, according to the finance news outlet Finance Magnates and its recent reports from June 23. A police spokesperson reportedly spoke with Finance Magnates, telling the news site that Eli Gigi as well as his younger brother Assaf Gigi netted tens of millions of dollars. According to it, the two are suspected of being responsible for long-term systematic theft of cryptocurrencies. The Israeli brothers, as news show, managed to obtain access to other users' accounts in a malicious way. Their work began when they started creating credential-stealing clones of major online cryptocurrency exchanges and wallets - sending links to those phishing sites on Telegram groups and many other crypto related communities. As many best cryptocurrency news sites reported, the two are also accused of being responsible for the Bitfinex exchange hack which occurred in 2016 and saw multiple accounts being compromised. The coming altcoin news at the beginning of this month showed that the funds stolen in the attack above have been recently moved. The police noted that the victims were mostly based out of the European Union and the United States - which resulted in the matter being investigated by many law enforcement agencies - and how it led to the Israeli brothers. The site also noted that one of the brothers, eli Gigi, is a graduate of an elite technological unit of the Israeli Defence Forces which selects youth with outstanding academic capabilities. Meanwhile, a recent Firefox zero-day security flaw was unveiled, showing that it was used in attacks against the major crypto exchange and wallet service Coinbase. The flaw was apparently merged with another zero-day flaw targeting Coinbase employees, meaning that there were two separate attacks. Even though Coinbase was affected, the exchange's security researcher Philip Martin stated that the exchange was not the only crypto-related company targeted in the campaign - and that there was no evidence of the campaign targeting exchange customers. All in all, the two Israeli brothers who were arrested for the Bitfinex hack have been definitely one of the biggest scammers out there.
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Altcoin News

Famous Coincheck Theft Was Masterminded By Russian Hackers: Report

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The famous Coincheck theft, which led the exchange to lose around $530 million worth of New Economy Movement (NEM) tokens was a hot topic in the altcoin news in January 2018. A new report recently emerged, showing that the hack had been finessed by an unknown group of Russian hackers. Even though it is widely believed that North Korean hackers stand behind the famous Coincheck theft, the Japanese newspaper Asahi Shimbun is in the latest cryptocurrency news today with a new report - showing the Russian breadcrumbs in the Coincheck crypto exchange hack. According to the Japanese newspaper, the examination of a Coincheck employee's personal computer revealed a malware which was associated with Russian hackers. The hack, on the other hand, was a result of the crypto exchange's employees and the fact that they installed infected software on their computers. The famous Coincheck theft had the hackers sending emails to the employees (full of viruses such as Mokes and Netwire) which installed the malware on their machines and caused the massive financial loss. These viruses took over the infected computers and allowed the hackers to operate them remotely, gaining access to the private keys and executing the famous Coincheck theft. Russian hackers have been known for leaving breadcrumbs of their misdeeds in the past. Therefore, it is not surprising to see many best cryptocurrency news sites reporting about them doing a shoddy job of covering the tracks once again - when they hacked the crypto exchange last year. Despite the famous Coincheck theft, the crypto exchange was recently resurrected and now operates with a cryptocurrency license, unlike last year when it was hacked into. At that time, the exchange was awaiting a license and had poor checks and balances in place to prevent the massive theft knocking it into the ground. Moreover, the inefficiency of Coincheck to protect its customers' funds means that the hackers had to loot a fort with no defenses. If this was the Russians, it would have been a walk in the park - the country's hackers are known for hacking the DNC server during the 2016 elections s well as many other cases of hacks, Bitcoin scams and more. Below is a proof of one. https://twitter.com/nathanielpopper/status/1017816145397796865
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Bitcoin Scams

Stolen Bitfinex Bitcoin Started Moving (After Three Years)

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The stolen Bitcoin from Bitfinex has been spotted moving after three years of laying dormant, the latest cryptocurrency news show. In a series of transactions which started on Friday, the stolen Bitfinex Bitcoin of about $1.37 million was moved through wallets. It all started when the stolen BTC was moved from a wallet that had previously held funds taken in the 2016 Bitfinex hack. This theft costed the exchange more than $60 million and still  remains unsolved. The Twitter account Whale_Alert, which is known for posting suspicious and mysterious activities by whales, noted the mysterious BTC transfer in the morning, showing that it has continued throughout the day and ended with a $137,514 transaction at 19:47 UTC. https://twitter.com/whale_alert/status/1137083652330967040 Another account named Hard Fork showed that the move was connected with Bitfinex's Leo token which allows for the anonymous return of stolen funds. However, a spokesperson from Bitfinex named Anneka Dew was quick to follow up and be included in the daily altcoin news section, denying that the exchange was involved in the move after all.
“We are not involved, and the movement is not tied to the procedure outlined in the UNUS SED LEO white paper,” she said.
The anonymous nature of Bitcoin wallets is still a mystery for many - which is why moves like this one by the stolen Bitfinex Bitcoin are only evidence of hacker activity after the theft. As such, they can only be used for forensic analysis by blockchain sleuths - but often result in money laundering activity and hide the funds' ultimate destination. For those of you who don't know or haven't been following the best cryptocurrency news sites, the Bitfinex theft was the largest loss of Bitcoins by an exchange since the Mt. Gox hack in early 2014 which wiped away $350 million. In February this year, law enforcement in the United States managed to retrieve 27.66270285 of the stolen Bitfinex Bitcoin (BTC) which had been taken in the hack. Right now, we are all far from even thinking about retrieving the stolen Bitfinex Bitcoin. However, it is good that accounts like Whale_Alert exist and show some activity on the wallets following their hack.
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Bitcoin Scams

FBI Investigation On The QuadrigaCX Case Emerges In The US

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The Federal Bureau of Investigation (FBI) has officially expanded the QuadrigaCX case where the founder suspiciously died, with more than $100 million in cryptocurrency vanishing. Because of these reasons, the FBI investigation was relocated to the United States today, and the agency took to Twitter to ask for US-based victims of the crime to come forward.

FBI made the latest cryptocurrency news with its Twitter post which states the following:

https://twitter.com/FBI/status/1135999728838160384

This is actually a good thing for the market, as the ongoing trend of government intervention is either part of an evolution or a new pattern showing anti-crypto activity. It is all based on how you see things from your perspective.

However, the FBI investigation definitely shows serious attitude towards resolving the QuadrigaCX case, which is particularly interesting because of the mysterious activities and elements to it. One of them is the death of its CEO a month after the exchange closing, to then blame on a lack of access to wallets held by the deceased. As if this issue was not crazy enough, the QuadrigaCX funds were later mysteriously sent to the addresses in question.

A lot of questions linger, as the FBI investigation shows, and are subject to many mysteries. In our coming altcoin news, we have been reporting updates on the QuadrigaCX case - up until now where it seems like the case will go beyond a procedural bankruptcy court in Canada. From this, we can see that the exchange will probably be put under criminal investigation for its services rendered to US citizens.

As a result of this, whoever is left of the executive staff may be off the hook. In cases like these (picked up by the media and the best cryptocurrency news sites), it is often a question whether or not the government can recoup anything. However, the FBI investigation must determine if there are assets with value and to this date, no significant assets like that have emerged.

As a final note, many analysts believe that the actual problem for QuadrigaCX are actually its business decisions and relationships, which were the backbone of the struggle when the Canadian bank froze the exchange's assets.

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