Monthly Archives: February 2018

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Final Bitcoin and CryptoCurrencies Scams Exposed

Category : BLOGS

Bitcoin and Crypto Currency

source pixabay

Bitcoin and CryptoCurrency are making far more headlines than any other Celebrity.

This frame grab made available by the BBC on Monday, May 2, 2016, shows the creator of the Bitcoin, Craig Wright speaking in London.

In 2011, the pair founded a Florida-based firm called W&K Info Defense Research LLC, which was engaged in bitcoin mining and software development and research. Kleiman owned between 50 and 100 percent of W&K, the lawsuit said.

It claims that the Kleiman estate owns the rights to $5,118,266,427.50 worth of bitcoin and IP rights.

The filing says it is “unclear” whether Wright, Kleiman or the two together were responsible for the cryptocurrency’s creation. But the document adds that it is “undeniable” that the pair was involved in bitcoin “from its inception,” and that they acquired a “vast” number of bitcoins from 2009 to 2013.via Self-proclaimed bitcoin creator sued for allegedly stealing $5 billion worth of crypto, other assets

sued for 5 billion fraud

https://www.cnbc.com source BBC News via AP

Bitcoins and Crypto Currency is getting more and more popular despite the rollercoaster ride the Digital Currency goes under. Different Coins are mined, created and become popular but not as popular and fast rising as the bitcoin.

There are different Coins like Bitcoin, Ethereum and Litecoin. Did you know there are more than 1384 until January 2018  Crypto Currencies registered? 

Platforms are created to trade Cryptocurrencies and allow people to trade without fees. People have killed their investment because they did not understand how to trade the Cryptocurrencies.  As the outlook is not clear and people think when they trade a coin they made a big gain and then look it up and figure out that some of the money is missing, puzzled they ask where did it go.

Will the EU regulate the Crypto -Currencies

LONDON (Reuters) – The European Union stands ready to regulate crypto-currencies if risks from the sector are not tackled at the global level, the bloc’s financial services chief said on Monday.

A global investment craze over bitcoin BTC=BTSP and other virtual currencies in the last year has seen wild gyrations in their valuations, making fortunes for some investors while others have lost heavily.

“This is a global phenomenon and it’s important there is an international follow-up at the global level,” Valdis Dombrovskis told reporters.

“We do not exclude the possibility to move ahead (by regulating crypto-currencies) at the EU level if we see, for example, risks emerging but no clear international response emerging.”via EU says stands ready to regulate crypto-currencies

Europe and Bitcoins
Are Crypto Currencies a Threat to the Economy?

Is there a threat to the overall economy with cryptocurrencies becoming more and more popular. Could they pose a substantial risk for investors? Could the Cryptocurrency without safeguards be vulnerable to financial crime? Too many governments they only represent a tiny part of the financial system.

Markus Ferber, a centre-right member of the European Parliament, said a quick EU regulatory response was needed, rather than waiting years for international rules to trickle through. via EU says stands ready to regulate crypto-currencies

Crypto Currencies Hacker Attacks on Networks

Attackers continue to socially engineer cryptocurrency users by tricking them into visiting malicious sites such as “blockchaina.info,” pictured. (Source: Cisco Talos)

Criminals continue their quest for acquiring cryptocurrencies without having to buy and manage their own mining equipment. They’re resorting to attacks aimed at stealing the cryptocurrencies via hacking, demanding them as ransom payments as well as sneaking cryptocurrency mining software onto servers to generate virtual currencies (see Cybercriminals Go Cryptocurrency Crazy: 9 Factors).  via Cryptocurrency Theft: Hackers Repurpose Old Tricks

How do they do it?

Malware is still one of the easiest operators to install on to a computer or network without the user knowing.

Old Trojan Tricks and New Targets are the new wave game.

Web injections and or attacks called “the man in the browser” are specifically designed to be activated when a user is visiting the specific website like a cryptocurrency exchange.

It will intercept the keystrokes of a user and will alter the browser interface as a disguise and the attacker will drain the user account of all the funds.

Network Hacker Bitcoins and Cryptocurrencies

public domain Pixabay

How the Trickbot hijacks the coins?

“In the normal payment scenario, a user looking to buy coins provides his or her public bitcoin wallet address and specifies the amount of bitcoin to purchase. When submitting this initial form, the user is redirected from the bitcoin exchange platform to a payment gateway on another domain, which is operated by a payment service provider. There, the user fills in his or her personal information, as well as credit card and billing details, and confirms the purchase of coins,” the X-Force researchers write.

“This is where TrickBot hijacks the coins. This particular attack targets both the bitcoin exchange website and that of the payment service to grab the coins and route them to an attacker-controlled wallet.” via Cryptocurrency Theft: Hackers Repurpose Old Tricks

Servers of Enterprises are mainly at risk

Kafeine warns that enterprise resources are very much at risk from these types of attacks. “Because most of the nodes in this botnet appear to be Windows servers, the performance impact on potentially critical business infrastructure may be high, as can the cost of increased energy usage by servers running much closer to capacity,” he writes. “Given the significant profits available to the botnet operators and the resilience of the botnet and its infrastructure, we expect these activities to continue, along with their potential impacts on infected nodes.”

He adds that it’s a virtual certainty that botnets such as Smominru will “become more common and to continue growing in size.”via Cryptocurrency Theft: Hackers Repurpose Old Tricks

Bitcoin is losing its heat to the Thieves

Threat intelligence firm reviewed underground markets and found out that bitcoin even still accepted, is losing its ground and the underground market is more fond of Monero, Bitcoin Cash, Zcash, Litecoin, Dash, and Ethereum.

The firm says that within the next 12 months, it expects bitcoin to no longer be the dominant payment mechanism for cybercrime service buyers and sellers (see Bitcoin’s Reign on the Dark Web May Be Waning).via Cryptocurrency Theft: Hackers Repurpose Old Tricks

Network Hacker to mine bitcoins

Public Domain from pixabay

 Conclusion:

Trading and buying Cryptocurrencies like Ethereum, Litecoin, Zcash, Monero, Dash, a.s.o is a judgement everyone has to make for themselves. Of course, you should never invest money you can not afford to lose.Trading in Cryptocurrencies can ruin you if you do not know what you are doing. Please take caution.

Want to know how to buy Cryptocurrencies and Bitcoins.

Crypto currency codex

Please note you will be redirected.

Do you invest in Crypto Currency? what is your experience and what are your thoughts on the development of the Coins. Please comment and share your thoughts.

All the best Jim

Read our other post on CryptoCurrency

How To Invest In Crypto Currency

 

 

 


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