Thirty new hack attacks on individuals that use crypto are what we read today in the latest crypto news after the CEO of the Cuvepia cybersecurity company detected more than 30 attacks on individuals by North Korean hackers.
As the South China Morning Post reports, the attack was carried out by North Korean hackers. The CEO Kwon Seok-Chul said that the individuals that were a target for these cyber attacks were only users that used their crypto wallets for storing their invested cryptocurrency. According to Chul, he believes that there are more than 30 attacks that were still not reported or detected.
The reason for these attacks is as the article states, departing the previous methods of attack. North Korea allegedly backed two crypto scams in 2018 that were funded by the country and where 65% of all cryptocurrencies were compromised.
Hackers now attack individuals because of weak wallet security. This is what the founder of cyber warfare company IssueMakersLab Simon Choi believes. Choi also pointed out that most targets were wealthy South Koreans.
Luke McNamara who is an analyst at FireEye Cybersecurity Company says that it is very possible from all of the previous hacks that the hackers were able to collect information about the targeted people that were using specific exchanges. He said:
“When they understand and know the targets then they are able to craft lures specific to those organisations or entities and this makes them effective at what they are doing.”
According to Kaspersky Labs, North Korean hackers used macOS malware to hack crypto exchanges and that they are using cryptocurrencies to avoid US Sanctions.
Analysts Confirm: The Bomb Threats Aren’t The Reason For The BTC Price Drop
“Please be advised – there is an email being circulated containing a bomb threat asking for bitcoin payment. While this email has been sent to numerous locations, searches have been conducted and NO DEVICES have been found.”Also, it is highly unlikely that the bomb threats cause the price to decline because the closing of the investigation would lead for the value of BTC to rise since there were no devices discovered that were connected to the bomb threats.
Coinbase Adds PayPal Withdrawals To Its Platform (For U.S. Citizens)
“There is new technical work to make this possible, and that was done in conjunction with PayPal.”However, this Friday Osgood wrote that the partnership provides Coinbase customers an alternative to the traditional federal wire or automated clearing house (ACH) network that they were required to use. As he said:
“These traditional finance networks can add up to two business days to a withdrawal. We’re always looking for ways to not only meet the bar set by traditional finance, but raise it. That’s why we rebuilt our integration to ensure that the speed and reliability of PayPal withdrawals does just that.”The service is for now only available to customers in the United States, but could continue to be added to other nations across 2019, as Osgood wrote.
Bitcoin Plunges To A Yearly Low, Market Is ‘Prepared’ To Go Below $100 Billion
“As BTC is approaching the target of the 2014 fractal the targets of most people change from 3k to 1k and even lower. I still think $2,700 is an excellent place to buy if we should go there. ‘History doesn’t repeat itself but it often rhymes.’”Currently, there is a big risk in shorting and longing Bitcoin and other major cryptocurrencies in the market, which is why investors are observing the short-term trend of the crypto market by holding out on their trading activity.
Circle CEO: ‘’Bitcoin Will Be Worth A Great Deal More Than Today’’
“I don’t make significant price predictions. But it’s certainly going to be worth a great deal more than it’s worth today. I am long in the market.”Allaire says that the people who lost a ton of money in the bear market will only get back into the game because of the fundamentals of cryptocurrencies and that they won’t change despite the downturn in prices. He also believes that bitcoin plays a huge role as a non-sovereign store of value. Allaire continued to explain:
“The key thing with bitcoin is that it is unique in its security and its scale. As an idea that we need a scarce, non-sovereign store of value that individuals can hold in a protected fashion — that’s attractive all around the world.”However, he thinks that some of the digital currencies will eventually die off due to overcrowding of the market but this doesn’t mean that if one digital currency succeeds that the rest will cease to exist. When asked about the burning question of regulation, he says that the United States has one of the most transparent regulation since most of the digital currency and banking systems have already been regulated, many of which this year only. Circle is already regulated under the Bank Secrecy Act and money transmission laws and this is a very important element for all the customers and users.
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