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Tag Archives: Security & Ransomware

Twitter Hack Leads to $120,000 in Stolen BTC

Another massive bitcoin hack is in the books, though this one is a bit different in that it involves Twitter, one of the largest social media platforms across the globe.High-Profile Twitter Accounts OvertakenTo be fair, Twitter has been utilized to garner illicit bitcoin funds before from unsuspecting victims. Elon Musk – who was one of the more prominent figures at the center of this event – can vouch for that, though never has such an attack as the one that occurred 48 hours ago been...

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Whale Alert: Very Few Bitcoin Scammers Have Been Caught

According to a new report issued by Whale Alert, approximately $24 million in crypto funds have been stolen from people by bitcoin scammers during the first half of 2020 alone.Whale Alert: Scammers Have Made Off with a Lot of BTCBitcoin is a hardcore financial tool that can lead to a lot of positive change. For one thing, it can ensure that the entire financial market is decentralized, meaning it will take control out of traditional financial institutions and place it back in the hands of...

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Canadian Cleaner Falls Victim to Elaborate Crypto Scam

Another crypto scam is in the books. A 50-year-old cleaner in Canada named Jocelyn has been cheated out of her entire life savings after being convinced to send her crypto funds to fraudulent parties.How a Canadian Cleaner Fell Victim to a Crypto ScamJocelyn worked for Sean Moore, a semi-retired lobbyist who spoke on her behalf. Discussing the crypto scam, he stated:It’s a tragedy in this particular case, a scandal in the broader one.Jocelyn had roughly $10,000 in crypto assets that she had...

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Bitcoin Ransomware Attacks Are Growing at an Alarming Rate

According to experts, bitcoin ransomware attacks occur for one reason and one reason only… Because hackers love bitcoin.Bitcoin Ransomware Attacks: Will They Ever Stop?Members of the cybersecurity industry – such as Jason Ingalls, the founder and CEO of Ingalls Information Security – claim that there’s been a serious spike in bitcoin ransomware attacks over the past few years, and it’s happening strictly because hackers are looking to obtain BTC in the quickest and easiest way possible....

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Man in Russia Won’t Get His Stolen BTC Back

Should anybody lose their bitcoin to hackers or have their coins stolen, the first thing they’ll want to do is get the police involved to help them in retaining their lost funds. However, when the country’s regulators are working against you, like they are in Russia, that can be extremely frustrating for those who are the victims of malicious actions.Russia Goes Against BTCA man in Russia who has had more than 100 bitcoin units stolen from him over two years ago has sought legal assistance in...

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UK Regulators Shutter Phony Crypto Exchange GPay

A high court in the United Kingdom has ordered the shutdown of an alleged cryptocurrency scam exchange known as GPay, which potentially robbed customers of more than $1.8 million in digital funds.GPay Is Closing Its DoorsThe court alleges that the company used fake celebrity endorsements to entice people to step aboard the crypto plane and invest their money. However, the exchange has now come forward to say it has “lost” all the money customers brought to the table and that it is being...

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AT&T Sued Over Crypto Losses Due to SIM-Swapping

Phone service provider AT&T is once again being sued over a potential SIM-swapping case. This time, the plaintiff is a man named Seth Shapiro, who says that AT&T mishandled his number transfer, causing him to lose as much as $1.9 million in cryptocurrency funds.SIM-Swapping Isn’t DisappearingSIM-swapping has become one of the most dangerous and prominent ways of garnering funds that one has no right to. The process can be done in one of two ways. The hacker potentially gets a hold of...

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San Francisco University Is the Latest BTC Ransomware Victim

Bitcoin ransomware is on the rise.Ransomware Comes in a Big WayDuring the present COVID scare, many malicious actors have used the unstable environment to their advantage and sought new ways of garnering funds that they have no right to. There have been an increasing number of coronavirus-related scams meandering about, with many nasty individuals looking to sell fake masks or garner bitcoin donations for fake organizations claiming to be the World Health Organization (WHO) or the Red...

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Cipher Trace: Bitcoin ATMs Are Being Used for Illicit Purposes

It looks like bitcoin ATMs are likely to be the next target of U.S. regulators.Bitcoin ATMs Are Being Used for the Wrong ReasonsBitcoin ATMs have grown in both size and scope over the past few years. There are approximately 8,000 machines all over the world, and as the love of crypto has gotten bigger, so has the presence of bitcoin ATMs. These machines are now seen as a convenient way to transfer funds and purchase bitcoin with cash or with other forms of crypto in a simple, quick, and...

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The Coronavirus Saw Crypto Crime Explode

The coronavirus pandemic brought a lot more than the fear of getting sick to the table. It also brought loads of cybercrime and fear surrounding the loss of cryptocurrency.The Coronavirus Led to CybercrimeCybercrime relating to cryptocurrency increased by about 75 percent during the peak of the COVID-19 scare. It appears that with more people working from home and not situated in a public office, there are less means of protecting exchanges and other trading platforms. Companies have fewer...

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