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The rise of cryptocurrency has brought many opportunities for investment, but such wealth potential has also attracted criminals. A recent example is of a Bitcoin robbery in Singapore, in which the victim was robbed of over $278,000 USD. The Singaporean police force has recently announced a robbery case involving a Bitcoin transaction. Pang Joon Hau, a Malaysian man, traveled to Singapore on April 8th in search of Bitcoin sellers. Carrying Lots of Cash Not a
A group of police officers in India have been arrested for an alleged Bitcoin extortion plot where they kidnapped and beat a businessman for his cryptocurrency. It seems that crimes associated with cryptocurrency just continues to rise. Each week brings new media reports of ransomware attacks and cryptojacking. There have also been quite a few incidents of face-to-face criminal attacks over cryptocurrency, which usually ends in the police being called in. However, what to do
Mark Karpeles, the former CEO of Mt. Gox, recently made comments about his distaste for Bitcoin, admitting that he no longer has any bitcoin or other cryptocurrencies. No Longer a Fan It has become apparent that Mark Karpeles, former owner and CEO of the now defunct Mt. Gox exchange, has lost faith in the appeal of Bitcoin and other cryptocurrencies. He recently expressed some negative comments concerning the cryptocurrency space on a recent Reddit post.
Hancock Regional Hospital in Greenfield, Indiana, was hit hard with a ransomware attack in January 2018. To protect patients the hospital decided to pay the hackers, its CEO Steve Long is now educating others. The Attack on Hancock Regional Hospital Though prepared for such an attack, the hospital systems were targeted during a flu outbreak and a snowstorm. To protect patients, CEO Long decided to pay the attackers the cryptocurrency ransom equivalent to $55,000 USD.
The FBI’s Internet Crime Complaint Center has noted a drastic increase in online crime, with crypto holders being targeted by dodgy helplines and tech support centers. Most companies want to keep the customers happy. Satisfied clients are more likely to be loyal and to refer the given company to their friends and family. One way that businesses try to keep their clientele happy is through support contact centers. However, criminals are looking at these helplines
Atlanta is the latest local government to have its computer system attacked by hackers. The criminals are demanding $51,000 in Bitcoin to remove their ransomware. It’s been a quiet few months on the ransomware front. The last notable attack targeted a hospital in Indiana back in January, but now a new target has been hit. The city government of Atlanta, Georgia, reports that their computer system was targeted by hackers in a ransomware attack. The
Hackers involved in the high-profile Coincheck heist earlier this year may have successfully converted half of the stolen NEM tokens into other digital currencies. Hung out to Dry As reported by Japan Today, hackers involved in the large-scale Coincheck heist may have utilized the anonymous “dark web” — which has proved troublesome to investigators trying to track the stolen cryptocurrency then valued at roughly $547 million. According to a cybersecurity expert, hackers created a website
If you are the average cryptocurrency enthusiast, chances are that the majority of your portfolio is sitting in the wallets of a crypto-exchange. While it does seem safe, your hard earned money is just a hack away from becoming the victim of a Mt.Gox-like hack in no time. Scams. Scams Everywhere. Fake Vitaliks. Fake McAfees. The twitter handles you are commenting on, are they even authentic? Is the blue tick even real? In an average
Apple co-founder Steve Wozniak has long been a fan of Bitcoin and cryptocurrency, citing their purity as attractive in a manipulative world. In fact, he’s added to his already sizable fortune with some shrewd Bitcoin trades. He too, however, has fallen victim to fraud. ‘It Was That Easy!’ Apple co-founder Steve Wozniak is a big fan of Bitcoin — or, at least, he used to be. Wozniak first bought into Bitcoin when it was worth $700,
Japan is one of the world’s most crypto-friendly nations at the moment. It made digital currencies legal tender in April last year and enjoys a free and unfettered crypto trading environment. The drive behind this adoption of virtual currencies is an efficient and structured framework of regulation. This is about to be improved with the merger of two of the country’s leading cryptocurrency groups. According to reports the Japan Blockchain Association and the Japan Cryptocurrency
The Coincheck exchange hack sent shockwaves through the crypto community, and analyst Nicholas Colas says to expect more such hacks in the future. The hack of the Japan-based Coincheck crypto exchange last week was huge. Roughly 523 million of its NEM coins were stolen, causing the exchange to shut down all withdrawals, except for Bitcoin. The overall value of the stolen coins is around $534 million. However, the crypto market stabilized pretty quickly, but more
The cryptocurrency market is at an all-time high as coins recover from a brief holiday bear season into a bullish New Year. But could this unprecedented growth in value attract cybercriminals? Currently, there is a huge bullish run by Bitcoin and other alternate coins on the cryptocurrency market even with the recent correction that saw Bitcoin slightly drop in value over the holidays. However, now that the New Year has kicked off, cryptocurrencies are going
As Bitcoin and other cryptocurrencies gain popularity as a mode of payment transfer, it has become common for the average Bitcoin user to be scammed by an anonymous identity who requests payment for some work is then never heard from again. The decentralized nature of cryptos certainly has a tradeoff – unlike a credit card or bank transaction that can be reverted, a cryptocurrency transfer once confirmed is permanently recorded on the Blockchain. This is
The Winklevoss twins have cut up and stored their Bitcoin keys in safety deposit boxes across multiple banks in the United States. One of the main problems with cryptocurrency is that thieves can plunder a person’s wallet, and there’s very little recourse that one can do in such a situation. To ensure that such an event doesn’t happen to their 120,000 bitcoins, the Winklevoss twins have cut up their Bitcoin keys into multiple pieces (on
Insurance companies, such as Chubb, are making a ransomware Bitcoin correlation, saying that the cryptocurrency’s rising price is leading to more ransomware attacks. Few things are as aggravating as having to pay a criminal ransom in order to gain access to your own files. Ransomware attacks have targeted everything from major corporations down to a local transit authority, and they’re increasing in frequency. Some of the insurance companies who have to deal with the fallout
Desperate Bitcoin investors who cannot remember their wallets’ passwords are turning to hypnotism to retrieve the forgotten information. Others are banking on technology and building supercomputers, but even that is not enough. Early Bitcoin investors who bought the cryptocurrency while it was still in its infancy stand to profit the most from its recent explosive gains. However, some investors have long since forgotten their wallet passwords, and some are on the verge of going crazy
The latest North Korean cryptocurrency hacking attempt is using fake Facebook profiles of attractive women to get an in with crypto workers. Just when you think the North Korea cryptocurrency hacking attempts can’t get any more bizarre, a new story pops up to burst that assumption. The North Korean regime has spent the last couple of years targeting cryptocurrency in order to gain some much needed revenue, and you have to begrudgingly admire the lengths
South Korean exchange Youbit has announced it is filing for bankruptcy after hackers stole 17% of its net assets. ‘Very Sorry (Again)’ In an announcement on its homepage since reported by various news outlets, the relatively unknown exchange, which is not to be confused with the similarly-named Yobit.net, said it had made “every effort” to stay afloat. A previous hack in April saw 4000 BTC covertly leave Youbit’s books, an episode from which the exchange
In a desperate bid for financial resources, North Korea and Kim Jong-un are unleashing hackers against Bitcoin exchanges. The continuing rise in Bitcoin value has had a lot of positive effects. People have made a lot of money on the cryptocurrency’s rise, and the accompanying headlines have brought more people into the crypto world. However, there is a downside to Bitcoin skyrocketing in value, which is having unsavory characters trying to get their hands on
Slovenia-based NiceHash, the cryptocurrency mining marketplace where users can rent their unused hashing power, announced on Wednesday that they had been hacked, resulting in a loss of funds estimated to be worth more than $75 million USD at current Bitcoin prices. Massive Security Breach The announcement, made via social media, indicated that NiceHash had suffered a massive security breach during which hackers were able to compromise the company’s payment system and steal the contents of both NiceHash’s
Initial coin offerings have become one of the most popular and easy ways to raise money online through cryptocurrencies. But ICOs have also become a popular way for fraudsters to scam people as the SEC recently showed by filing suit against the ICO by PlexCorps. ICO: A Threat to Venture Capital Firms? Early stage startup funding has been steadily declining over the last couple of months. The main reason behind this is the rapid rise of
An anonymous user on Pastebin has provided evidence that some wallet software may be generating private keys that can be easily discoverable, and therefore easy to take any bitcoins associated with that address. There has been no word on what wallet software is possibly affected, nor if this is a malicious act or a simple coding error. TL;DR – Scroll to the last subsection What is a Private Key? I’m going to give a little
Bitcoin Gold (BTG) has just issued a warning about a suspicious file of unknown origin found on their download links on their web page and on their Github release page. It seems that Bitcoin Gold has been dealt more than their share of bad luck recently. The company is still mired in the aftermath of the MyBTGWallet scam, and now they have been hit with another problem that is causing them to issue a critical
