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Has the ‘Unhackable’ Wallet Been Hacked?
Has the ‘Unhackable’ Wallet Been Hacked?

A week after launch Pen Testers say they have successfully hacked into the Bitfi wallet. July 2018 saw cryptocurrency hardware wallet manufacturer Bitfi offer a $100,000 (later raised to $250,000) bounty for anyone that was able to hack into their device. Spearheaded by executive chairman John McAfee -yes, that McAfee. Unlike other bug bounty programs, Bitfi announced this program to showcase “the world’s first unhackable device” and not to gain true...

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New Malware Maximizes Attackers Profits
New Malware Maximizes Attackers Profits

New Russian born malware chooses if users should be attacked with Ransomware or Crypto Script. Historically, ransomware attacks have been strictly infecting computers with ransomware. While crypto attacks have been infecting CPU’s with crypto mining scripts. However, hackers have found a way to merge the two attacks, ensuring the highest payment possible. The Rakhni Trojan gives the opportunity for hackers to infect victims with either ransomware or cryptomining scripts, by allowing...

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How the Rise of Cryptocurrencies Fueled Cyber-Criminals
How the Rise of Cryptocurrencies Fueled Cyber-Criminals

Since the start of the year, there has been a fivefold increase in phishing attacks for cryptocurrencies. In 2016, Initial Coin Offerings (ICO’s)- essentially crowdfunding for cryptocurrencies- collected around $240 million. 2017 brought in over $5.5 billion in ICO’s. This exponential increase in value has caught the eyes of all institutional investors, along with inexperienced investors that saw cryptocurrencies as a ‘get rich quick’ opportunity. As history has dictated, any ‘get rich...

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Bitcoin scams: Beware of crooks trying to steal your cryptocurrency with these schemes

Cyber criminals are successfully taking advantage of social media and naivety to steal Bitcoin and distribute malware. Cybercriminals are taking advantage of the rising price and popularity of Bitcoin to try to steal the currency and distribute malware. The cryptocurrency has become invaluable to cybercriminals who exploit its anonymous, decentralised nature as a tool for demanding ransomware payments and laundering various other ill-gotten gains. This month social media Bitcoin scams have reached a...

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