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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“Using the latest technologies and digital forensic techniques we thoroughly investigate all possible methods of holding financial assets.”This cryptocurrency seizure is believed to be the largest ever made by the police in West Australia, according to the Sydney Morning Herald. A search of a property in northern Perth also led to the arrest of a 27-year old man and a 25-year old woman by the Australian police who are now said to be involved in a scheme involving the traffic of MDMA, ecstasy tablets and powder in children's toys sent from the UK to Australia.The Australian Police's report for the 2018-2019 period shows that the seizure of cryptocurrency could prove to generate major returns for the authorities - but is also how the country's police have developed their IT capabilities and accelerated their procedures to confiscate cryptocurrency from criminals.In January 2016, a man was charged and convicted with the illegal importation of three firearms for which he paid in Bitcoin (BTC). The cryptocurrency was then worth approximately $7,300 (and has a same value now) was seized at the time of his arrest.
“In November 2018, following protracted negotiations, the man agreed to the forfeiture of the bitcoin. By that time it had increased in value to approximately $154,000,” the report says.The bitcoins, as the cryptonews show, were subsequently deposited into the Confiscated Assets Account which is managed by the country and its financial regulator - the Australian Financial Security Authority.This is obviously not the first time Bitcoin is used for selling and distribution of drugs. The Australian police prides itself on the latest bust but there are many more to come in other countries too. Criminals and drug dealers see Bitcoin (BTC) as an ideal method to sell drugs through because of its anonymity and no chance of traceability.
New Crypto Stealing Malware Infected More Than 80k Users: Microsoft
“Dexphot is not the type of attack that generates mainstream media attention; it’s one of the countless malware campaigns that are active at any given time. Its goal is a very common one in cybercriminal circles — to install a coin miner that silently steals computer resources and generates revenue for the attackers," a section from the report by Microsoft Defender ATP reads.The Dexphot malware is very similar to the recently discovered malicious code in WAV audio files. This type of malware campaign basically allows hackers to deploy CPU miners onto the victim's device and use it to steal processing resources and generate thousands of dollars a month from mining cryptocurrency.The new crypto stealing malware is also part of a trend for hackers who see it as an easy option to gain access to devices. The malware payloads are increasingly popular among hackers because of their benefit to operate without the actual user's knowledge. If you have been following the cryptonews, you probably know that this attack is commonly known as cryptojacking.Aside from the new case identified by Microsoft, there have been a bunch of similar cases so far. In October this year, the major antivirus software supplier ESET discovered a trojanized Tor Browser which was designed to steal Bitcoin (BTC) from buyers on the darknet. The fake Tor browser was targeting users in Russia where since 2017, it has been stealing crypto from darknet shoppers by swapping their addresses.
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