Archive for the ‘cryptocurrency’ Category

Get ready for a Facebook-sponsored cryptocurrency

February 28th, 2019
A man in sunglasses holds a cell phone and a water bottle while standing outside.

Enlarge (credit: David Paul Morris/Bloomberg via Getty Images)

Facebook is preparing to launch a cryptocurrency, the The New York Times reports. The new cryptocurrency would be integrated with Facebook's WhatsApp messaging platform, allowing ordinary WhatsApp users to send electronic cash to friends and family across international borders. The Times says it talked to five anonymous sources who have been briefed on the project.

The most popular cryptocurrencies float freely against conventional currencies, leading to high volatility. By contrast, Facebook is planning to peg its currency to a basket of national currencies. This approach could give the new WhatsApp coin greater stability without tying it too tightly to any specific country's financial system.

The Times notes that Facebook is just one of several messaging companies that are working on cryptocurrencies. Two privacy-focused messaging apps—Telegram and Signal—are each working on cryptocurrencies of their own, too. These are expected to be more traditional cryptocurrencies not pegged to conventional money.

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Posted in Blockchain, cryptocurrency, Facebook, Policy, Whatsapp | Comments (0)

Hackers Favorite CoinHive Cryptocurrency Mining Service Shutting Down

February 28th, 2019
Coinhive, a notorious in-browser cryptocurrency mining service popular among cybercriminals, has announced that it will discontinue its services on March 8, 2019. Regular readers of The Hacker News already know how Coinhive's service helped cyber criminals earn hundreds of thousands of dollars by using computers of millions of people visiting hacked websites. <!-- adsense --> For a brief

Posted in coinhive, coinhive cryptocurrency miner, cryptocurrency, cryptocurrency miner, cryptocurrency mining, Cyber Criminals, hacking news, monero cryptocurrency, Monero Mining | Comments (0)

Hackers Actively Exploiting Latest Drupal RCE Flaw Published Last Week

February 26th, 2019
Cybercriminals have actively started exploiting an already patched security vulnerability in the wild to install cryptocurrency miners on vulnerable Drupal websites that have not yet applied patches and are still vulnerable. Last week, developers of the popular open-source content management system Drupal patched a critical remote code execution (RCE) vulnerability (CVE-2019-6340) in Drupal

Posted in cryptocurrency, cyber security, Drupal, Drupal exploit, drupal hacked, Drupal hacking, hacking news, remote code execution, website security | Comments (0)

First Android Clipboard Hijacking Crypto Malware Found On Google Play Store

February 11th, 2019
A security researcher has discovered yet another cryptocurrency-stealing malware on the official Google Play Store that was designed to secretly steal bitcoin and cryptocurrency from unwitting users. The malware, described as a "Clipper," masqueraded as a legitimate cryptocurrency app and worked by replacing cryptocurrency wallet addresses copied into the Android clipboard with one belonging

Posted in Android Malware, Android Security, clipboard hijacking, cryptocurrency, cyber security, how to hack android, malware, malware protection software | Comments (0)

Google Play caught hosting an app that steals users’ cryptocurrency

February 9th, 2019
Google Play caught hosting an app that steals users’ cryptocurrency

Enlarge (credit: Yu Chun Christopher Wong/S3studio/Getty Images)

Google Play has been caught hosting yet another malicious app, this time one that was designed to steal cryptocurrency from unwitting end users, researchers said Friday.

The malware, which masqueraded as a legitimate cryptocurrency app, worked by replacing wallet addresses copied into the Android clipboard with one belonging to attackers, a researcher with Eset said in a blog post. As a result, people who intended to use the app to transfer digital coins into a wallet of their choosing would instead deposit the funds into a wallet belonging to the attackers.

So-called clipper malware has targeted Windows users since at least 2017. Last year, a botnet known as Satori was updated to infect coin-mining computers with malware that similarly changed wallet addresses. Last August came word of Android-based clipper malware that was distributed in third-party marketplaces.

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Posted in Biz & IT, cryptocurrency, google play, malware | Comments (0)

Critical Zcash Bug Could Have Allowed ‘Infinite Counterfeit’ Cryptocurrency

February 6th, 2019
The developers behind the privacy-minded Zcash cryptocurrency have recently discovered and patched a highly dangerous vulnerability in the most secretive way that could have allowed an attacker to coin an infinite number of Zcash (ZEC). Yes, infinite… like a never-ending source of money. Launched in October 2016, Zcash is a privacy-oriented cryptocurrency that claims to be more anonymous

Posted in cryptocurrency, cryptocurrency exchange, cyber security, make money, Vulnerability, zcash, zcash miner | Comments (0)

Fire (and lots of it): Berkeley researcher on the only way to fix cryptocurrency

February 4th, 2019
Marines use flamethrower to spectacular effect in field.

Enlarge (credit: US Marine Corps)

Nicholas Weaver made no bones about it: he really, really dislikes cryptocurrencies.

Speaking at the Enigma security conference in Burlingame, California, last week, the researcher at UC Berkeley's International Computer Science Institute characterized bitcoin and its many follow-on digital currencies as energy-sucking leeches with no redeeming qualities. Their chief, if not only, function, he said, is to fund ransomware campaigns, online drug bazaars, and other criminal enterprises.

Meanwhile, Weaver said, there's no basis for the promises that cryptocurrencies' decentralized structure and blockchain basis will fundamentally transform commerce or economics. That means the sky-high valuations spawned by those false promises are completely unjustified. He also said investors' irrational exuberance just adds to the unviability of cryptocurrency.

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Posted in Biz & IT, Blockchain, cryptocurrency, hacking, scams | Comments (0)

Cryptocurrency Firm Loses $145 Million After CEO Dies With Only Password

February 4th, 2019
QuadrigaCX, the largest bitcoin exchange in Canada, has claimed to have lost CAD 190 million (nearly USD 145 million) worth of cryptocurrency after the exchange lost access to its cold (offline) storage wallets. Reason? Unfortunately, the only person with access to the company’s offline wallet, founder of the cryptocurrency exchange, is dead. Following the sudden death of Gerry Cotten,

Posted in bitcoin, cryptocurrency, cryptocurrency exchange, cryptocurrency market, cryptocurrency mining, Cryptocurrency scam, exit scam, QuadrigaCX | Comments (0)

First Hacker Convicted of ‘SIM Swapping’ Attack Gets 10 Years in Prison

February 4th, 2019
A 20-year-old college student who stole cryptocurrency worth more than $5 million by hijacking victims' phone numbers has pleaded guilty and accepted a sentence of 10 years in prison. Ortiz was arrested last year on charges of siphoning millions of dollars in cryptocurrency from around 40 victims using a method commonly known as "SIM swapping," which typically involves fraudulently porting of

Posted in cryptocurrency, cryptocurrency exchange, cryptocurrency malware, Cyber Attack, Sim Card Cloning, Sim hacking, SIM Swapping, SIM Swapping Attacker, SIM Swapping Hacker | Comments (0)

Digital exchange loses $137 million as founder takes passwords to the grave

February 2nd, 2019
Black-and-white photo of a human skull in a graveyard.

Enlarge (credit: Jakub T. Jankiewicz / Flickr)

A cryptocurrency exchange in Canada has lost control of at least $137 million of its customers’ assets following the sudden death of its founder, who was the only person known to have access the the offline wallet that stored the digital coins. British Columbia-based QuadrigaCX is unable to access most or all of another $53 million because it’s tied up in disputes with third parties.

The dramatic misstep was reported in a sworn affidavit that was obtained by CoinDesk. The affidavit was filed Thursday by Jennifer Robertson, widow of QuadrigaCX’s sole director and officer Gerry Cotten. Robertson testified that Cotten died of Crohn’s disease in India in December at the age of 30.

Following standard security practices by many holders of cryptocurrency, QuadrigaCX stored the vast majority of its cryptocurrency holdings in a “cold wallet,” meaning a digital wallet that wasn’t connected to the Internet. The measure is designed to prevent hacks that regularly drain hot wallets of millions of dollars (Ars has reported on three such thefts here, here, and here.)

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Posted in Biz & IT, cold wallet, cryptocurrency, encryption, passwords | Comments (0)