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Bitcoin Scams

North Korean Hackers Now Have Individuals’ Wallets As Their Main Targets



In the latest cryptocurrency news, we have the CEO of one cybersecurity firm named Cuvepia, declaring that his company detected more than 30 attacks on crypto-bearing individuals that were probably carried out by North Korean hackers.

The reports were first seen in the South China Morning Post. The CEO of the aforementioned South Korean cybersecurity company, Kwon Seok-Chul, said that the new targets of the suspected North Korean hackers “are just simple wallets with Bitcoin and altcoins and users investing in cryptocurrency.”

This comment went viral, especially because Kwon added that to date, many cases haven’t been detected and that there may have been well over 100 attacks. As we reported previously on our site, North Korea allegedly backed two cryptocurrency scams this year including hacks funded by the country which comprise of 65% of all cryptocurrency stolen to date.

Simon Choi, a founder of one cyber warfare research company named IssueMakersLab also commented on this case and said that there is really a shift towards hacking individuals rather than exchanges. As he said:

“Direct attacks on exchanges have become harder, so hackers are thinking about alternatively going after individual users with weak security.”

Choi also noted that most targets have been wealthy South Koreans. The hackers, according to him, “believe that if they target CEOs of wealthy firms and heads of organisations, they can take advantage of billions of won in virtual currencies.”

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Bitcoin Scams

Canada Warns Its Citizens About The Growing Number In Bitcoin Scams

Canada is yet again in our crypto news but this time for the action of the Canadian police to warn the public about the emerging bitcoin scams and to be extremely cautious before investing in cryptocurrency. This year will be known because of the many scams and controversies with some famous and popular people such as DJ Khaled and Floyd Mayweather getting caught up in crypto affairs. Because of this, the police in Edmonton, Alberta warned the people living in the area of the huge rise in bitcoin scams and that the hackers are getting more sophisticated and creative in finding ways to get to investors’ money. The police explained that the hackers are using unique methods that were never before used and this is why investors must protect themselves as much as they can. Also, the police mentioned that the cases of identity theft and fraud had risen incredibly since 2013 by almost 90%. Before there were only cash and gift cards that were the main avenues of online hackers but with the growing trend of cryptocurrencies, this is now the most common choice for hackers. Constable Tuyen Nguyen of the EPS noted:
‘’What has evolved is the method of payment demanded by fraudsters. While gift cards were once the preferred payment of choice, fraudsters are now increasingly demanding payment in other forms such as bitcoin and e-transfers’’.
One of the main ways to attack the crypto users is to act as tax collectors and make your victims convert their cash into bitcoin or other cryptocurrencies at an ATM machine. Once this has been done, it is very difficult for authorities to track down the fraudsters. The EPS says that this is one of the hardest frauds to investigate once the many have been transferred.
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Bitcoin Scams

The Biggest Cyber Threat Of 2018: Cryptojacking Overtakes Ransomware

According to the latest reports that reached our crypto news, Cryptojacking is the number one cybersecurity threat of this year. Cryptojacking is the unauthorized use of other people’s hardware to mine cryptocurrency. Following up on a research from the cybersecurity research company Kaspersky Lab, ransomware is now number two on the list after cryptojacking. This threat is especially large in the Middle East, Africa, and Turkey. Most of the malware detected are crypto miners from these countries including Ethiopia and Afghanistan as well. Crypto mining attacks are growing incredibly fast in the region, increasing from 3 million in 2017 to 13 million this year alone. Kaspersky Lab believes that the cryptojacking incidents will continue because of the increasing use of cryptocurrencies. The reason why ransomware is not a number one threat anymore is that people from the developing markets are highly unlikely to pay the ransom. The Senior Security Researcher of Kaspersky Fabio Assolini says that the above-mentioned region is becoming even more attractive to cyber-criminals because these kinds of attacks are less noticeable than ransomware. However, there is some good news. There is a decrease in cyber attacks by 15 percent in Zambia and 11 percent in Uzbekistan. Cryptojacking is not the only way which criminals use to obtain and use cryptocurrency. There is plenty of different malware that attacks gamers and people’s wallet addresses. The Kaspersky Lab report concludes:
“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.”
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Bitcoin Scams

U.S. Government Confirms The Existence Of Bomb Threat Emails Demanding Bitcoin From Organizations

The government of United States is the bitcoin news today - this time for the emergence of a new trend that is focused around 'fake' bomb threat emails that demand Bitcoin from organizations within the country. The US Government suggested the best steps to take in this scenario, led by the National Cybersecurity and Communications Integration Center (NCCIC) which is part of the Cybersecurity and Infrastructure Agency. As the organizations announced this Thursday, they are aware of such an email campaign worldwide.
“The emails claim that a device will detonate unless a ransom in bitcoin is paid,” the NCCIC said.
So far, there have been several reports stating that the scammers are demanding hefty sums paid in Bitcoin with the subject line "I advise you not to call the police." The emails, on the other hand, included the following in their body:
“My man carried a bomb (Hexogen) into the building where your company is located. … I can withdraw my mercenary if you pay. You pay me 20.000 $ in Bitcoin and the bomb will not explode, but don’t try to cheat – I warrant you that I will withdraw my mercenary only after 3 confirmations in blockchain network.”
The NCCIC advised citizens that if they receive one of the bomb threat emails, they should not try to contact the sender or pay the ransom. Furthermore, the agency also asked people to report emails to the FBI's Internet Crime Complaint Center or to a local FBI field office. The mayor of Washington DC, Muriel Bowser, has also released an official statement confirming that she has been briefed by the Metropolitan Police Department (MPD). As she said:
“Each of the threats was received via email, requesting bitcoin ransom, but we have no knowledge that anyone has complied with the transaction demands. MPD is investigating these threats with our federal law enforcement partners. This is an issue being reported in other cities nationwide and is not considered credible at this time. If you receive a threat or observe suspicious activity, please call 911.”
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Bitcoin Scams

Former Mt. Gox CEO Mark Karpeles Could Face 10 Years In Prison

In today's crypto news, we are going to Japan where a group of prosecutors are seeking a 10-year sentence for Mark Karpeles who is the former chief and executive officer of the now-bankrupt Bitcoin exchange Mt. Gox. As a report from The Mainichi on Wednesday noted, the prosecutors claimed that Karpeles used customers' funds for his own personal use while speaking to the Tokyo District Court. According to the details, Karpeles reportedly transferred 341 million yen (approximately $3 million) of his customers' money kept in a bank account to his personal account from September to December 2013, as a court indictment stated. The cash was taken for uses such as "investing in software development business for personal interest." On top of this, the authorities are accusing Karpeles of manipulating the data on the Mt. Gox trading system, fabricating fake balances and playing a great role in the destroyance of the market and "the confidence of Bitcoin users." In 2017, Karpeles pleaded not guilty in the court to the charges of embezzlement and data manipulation and denied all the allegations. Later in April this year, he apologised for the company's bankruptcy and stated:
“I never imagined things would end this way and I am forever sorry for everything that’s taken place and all the effect it had on everyone involved.”
Mt. Gox filed for liquidation in April 2014 after claiming to have been hacked for around 850,000 Bitcoin, some of which was later found.
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