Tag Archives: security

Bitcoin and cryptocurrencies present numerous advantages over the traditional financial systems, including faster transactions, while paying only a fraction of the cost. The decentralized nature, meaning a lack of central authority behind them, has attracted lots of fans, investors, and users over the past decade.However, this same feature could also display some serious issues if one is not careful. Some of these problems could lead to the loss of funds, as the story of Yaniv reveals...

A recent report indicated that as proof-of-work-based cryptocurrencies such as Bitcoin and Monero were increasing in value in 2020, the cryptojacking cases worldwide have surged after a year of continuous decline.Cryptojacking On The Rise In 2020The term cryptojacking refers to when an unauthorized person gains access to a computer for mining (or minting) digital assets. These attacks can sometimes be so precise and critical that the victim fails to comprehend what is draining his device’s...

The US Department of Justice has alleged that Joseph Sullivan, the former Chief Security Officer of Uber, has covered up a 2016 hack on the company that compromised data of millions of users and drivers. According to the DOJ, Sullivan paid the hackers $100,000 in Bitcoin.Uber Former CSO Covers Up A Hack?The announcement from the DOJ informed about a recently filed complaint against Sullivan, who served as Uber’s CSO from April 2015 to November 2017. It charged him with “obstruction of justice...

Hackers pulled off a successful ransomware attack on COVID-19 researchers from the University of California in San Francisco and received 116 bitcoins.Now, recently surfaced transcripts reveal how the entire operation played out.Phase One: The HackAlthough the name of the group was initially a mystery, the Bloomberg report said that the organization had a history of targeting health-care entities. Later on, a group dubbed Netwalker claimed credit for executing the ransomware attack on the...

The leading cryptocurrency exchange Binance has assisted Ukrainian authorities to arrest a cybercrime organization that allegedly stole and laundered $42 million from various ransomware attacks across the world.Binance And Ukraine Partner To Stop A Cyber GangLast year, the exchange launched a new initiative, dubbed Bulletproof Exchanger aiming to identify and track hubs of malicious activity involving cryptocurrencies or companies within the ecosystem. Upon discovering such activities,...

Last week in the DEFCONConference, CTO of blockchain software development firm, Pyrofex, Michael Stay, recounted how he helped recover private keys for Bitcoins worth more than $300,000. The keys were locked away in a zip file, and Stay was entrusted with the job to break in and retrieve them.$100,000 For Recovering $300,000 Worth of BitcoinAfter going through his paper on decrypting encoded zip files, ‘The Guy’, a Russian national, approached Michael on LinkedIn in October last year.He had...

Ethereum Classic has been in the wars again with a second 51% attack within a week. This incursion has brought the security of the network under the spotlight again, though ETC prices remain largely unmoved at the time of writing.Earlier today, August 6, Etherchain.org tweeted that its Ethermine affiliated mining pool had disabled ETC pool payouts after more than 4,000 blocks had been reorganized.Today another large 51% attack occurred on the #ETC which caused a reorganization of over 4000...

The latest twist regarding the notorious Twitter hack from July indicated that the 17-year old alleged mastermind of the entire operation owns over $3 million worth of Bitcoin. Graham Ivan Clark faces 30 criminal charges, and his bail was set at $725,000.Twitter Hacker Owns $3.3M Worth Of BTCAs CryptoPotato reported in mid-July, unknown perpetrators gained access to numerous accounts of famous individuals and companies on the social media giant Twitter.Although they initially targeted popular...

After the infamous Twitter hack in mid-July, the social media giant has published a new update on its investigation, informing that the perpetrators successfully targeted a small number of employees through a phone spear-phishing attack.Phishing Attack Caused The Twitter HackFollowing the blatant attack on its network, Twitter has been quite transparent in its investigations, at least according to the regular updates the company shares. In the latest one, the social media platform outlined...

Bitcoin scams by impersonations are emerging globally, and the latest example coming from the Philippines has pushed the nation’s Finance Secretary to sought the help of the US Department of Justice (DOJ). He claimed his name was used to promote a series of ongoing cryptocurrency scams.The Philippines’ Finance Secretary Involved In a BTC ScamAccording to a recent report, Finance Secretary Carlos G. Dominguez III has become a victim of impersonation in an ongoing cryptocurrency scam. He sent a...