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Creator of Bitcoin Mining Schemes faces $12 Million for Ponzi Scam

Creator of Bitcoin Mining Schemes faces $12 Million for Ponzi Scam

Jun 06, 2017
Every time a new topic trends on the Internet, scammers take advantage of it. You must have heard of Bitcoin and how in recent days it has made some early investors millionaire overnight. Yes, the Bitcoin boom is back, and it's real — a digital currency that has just crossed a new milestone today. The current price of 1 BTC or 1 Bitcoin = US$2,850. An American con man took advantage of this boom in Bitcoin market to run bogus bitcoin mining schemes and earn millions of dollars. But the bogus schemes ended as the United States Securities and Exchange Commission (SEC) has won a legal battle against two bogus, but now defunct, Bitcoin companies operated by Homero Joshua Garza — GAW Miners and ZenMiner. Garza is now facing a $12 Million (£9.2 Million) penalty for running the bogus schemes – what lawmakers have certified was a "Ponzi scheme." According to the SEC, Garza used the "lure of quick riches" in order to get people to invest in the bitcoin mi
Malicious Cryptocurrency Mining tool turns Computers into Zcash Mining Machines

Malicious Cryptocurrency Mining tool turns Computers into Zcash Mining Machines

Dec 13, 2016
Since its launch over a month ago, new virtual currency Zcash (ZEC) has become a significant way for cybercrooks to make money by infecting computers with software mining program. Launched in late October, Zcash (ZEC) is a new cryptocurrency currency that claims to be more anonymous than Bitcoin, as the sender, recipient and value of transactions can be hidden. With this premise, Zcash attracted significant interest from academics, investors, miners, and cyber criminals. Within the first few hours of its launch, 1 ZEC reached $30,000, a relatively high value any cryptocurrency ever had. At the time of writing, 1 ZEC is worth 0.06 BTC or around $49. However, according to a blog post published on Monday by Kaspersky Lab, cyber criminals have already started deploying malware that installs on and infects the computers of unsuspecting users and then uses their resources to mine Zcash for the hacker's profit. You Might have Zcash Mining Malware on Your PC! The actual s
AI Copilot: Launching Innovation Rockets, But Beware of the Darkness Ahead

AI Copilot: Launching Innovation Rockets, But Beware of the Darkness Ahead

Apr 15, 2024Secure Coding / Artificial Intelligence
Imagine a world where the software that powers your favorite apps, secures your online transactions, and keeps your digital life could be outsmarted and taken over by a cleverly disguised piece of code. This isn't a plot from the latest cyber-thriller; it's actually been a reality for years now. How this will change – in a positive or negative direction – as artificial intelligence (AI) takes on a larger role in software development is one of the big uncertainties related to this brave new world. In an era where AI promises to revolutionize how we live and work, the conversation about its security implications cannot be sidelined. As we increasingly rely on AI for tasks ranging from mundane to mission-critical, the question is no longer just, "Can AI  boost cybersecurity ?" (sure!), but also "Can AI  be hacked? " (yes!), "Can one use AI  to hack? " (of course!), and "Will AI  produce secure software ?" (well…). This thought leadership article is about the latter. Cydrill  (a
Wanna Mine Bitcoins Faster? Researchers Find New Way to Do it

Wanna Mine Bitcoins Faster? Researchers Find New Way to Do it

Feb 15, 2016
A new machine for Bitcoin Mining called " Approximate Hardware " would make Bitcoin mining easier. Bitcoin had gained tremendous popularity over a few couple of years among the virtual currencies due to its decentralized principle. Mining a single Bitcoin is not an ice cake walk, as it requires an enormous amount of computing power to dig Bitcoins. To overcome this issue and mine Bitcoins faster, security researchers has conducted a study and made a new loophole in the mining process in an effort to mine the Bitcoins easily. How to Mine Bitcoins Faster? A team of Illinois-based researchers led by Indian Scientist, Rakesh Kumar, has designed a new hardware named " Approximate " that could reduce the pain of Bitcoin mining by 30 percent. The proposed system would make use of the faults in the hardware system such as: False Positives where an error is not present but notifies a fake error. False Negatives where an error is present but
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Today's Top 4 Identity Threat Exposures: Where To Find Them and How To Stop Them

websiteSilverfortIdentity Protection / Attack Surface
Explore the first ever threat report 100% focused on the prevalence of identity security gaps you may not be aware of.
Meet The World's First Person Who Hacked His Body to Implant a Bitcoin Payment CHIP

Meet The World's First Person Who Hacked His Body to Implant a Bitcoin Payment CHIP

Nov 03, 2015
Hackers are now going crazy and trying new ways in Biohacking . Until now, we have seen a hacker who implanted a small NFC chip in his hand in order to hack Android smartphones and bypass almost all security measures. However, now the level of craziness has gone to a whole new level. A Swedish hacker has devised a neat trick that makes him able to buy groceries or transfer money between bank accounts by just waving his hand. Yes, you heard that right.  Patric Lanhed , a software developer at DigitasLBi, implanted a small NFC (Near Field Communications) chip with the private key to his Bitcoin wallet under his skin. So How Does the Trick Work? So, while sending Bitcoin payment from one digital wallet to another, he just has to wave his hands against an NFC chip reader that will scan the data, and a custom software will confirm the authenticity of the key, triggering the money transfer. A proof-of-concept video demonstration by Patric and his acquaintanc
Android Bitcoin-Mining Malware found on Google Play Store

Android Bitcoin-Mining Malware found on Google Play Store

Apr 25, 2014
Google always bound to face trouble over the wide and open nature of its app checking policies on Google Play Store, and despite so many security measures, the search engine giant mostly fails to recognize the Android malware that are lurking around its Google Play store in vast numbers. Recently, Google had offered users refund and additional credit of $5 for the bogus antivirus app ' Virus Sheild ' that potentially defrauded more than 10,000 Android users who have downloaded the app from the Google play store. The step taken by Google is really appreciated, as the refunding cost Google around $269,000. Now, it has been found that a number of malicious Android apps on the Google Play store secretly turn users' android devices into small rigs contributing to a large-scale crypto currency mining operation. CRYPTO MINER IN ANDROID APP Security researchers from an anti-malware firm Lookout have identified various malware apps at Google Play Store, which they dub
Linux Worm targets Internet-enabled Home appliances to Mine Cryptocurrencies

Linux Worm targets Internet-enabled Home appliances to Mine Cryptocurrencies

Mar 20, 2014
Could a perfectly innocent looking device like router, TV set-top box or security cameras can mine Bitcoins? YES! Hackers will not going to spare the Smart Internet-enabled devices. A Linux worm named Linux . Darlloz , earlier used to target Internet of Things (IoT) devices, i.e. Home Routers, Set-top boxes, Security Cameras, printers and Industrial control systems; now have been upgraded to mine Crypto Currencies like Bitcoin. Security Researcher at Antivirus firm Symantec spotted the Darlloz Linux worm back in November and they have spotted the latest variant of the worm in mid-January this year. Linux . Darlloz worm exploits a PHP vulnerability ( CVE-2012-1823 ) to propagate and is capable to infect devices those run Linux on Intel's x86 chip architecture and other embedded device architectures such as PPC, MIPS and MIPSEL. The latest variant of Linux . Darlloz equipped with an open source crypto currency mining tool called ' cpuminer ', could be use
MtGox Hacker tricks people to install Bitcoin Stealer

MtGox Hacker tricks people to install Bitcoin Stealer

Mar 15, 2014
This News will blow everyone's mind! If you are a bitcoins holder then you might be aware of  MtGox , Once the World's biggest Bitcoin exchange .  MtGox  filed for bankruptcy last month after saying it lost some 8,50,000 Bitcoins to hackers and suddenly went dark with no explanations. A few days ago, some unknown hacker breached into the personal blog and Reddit account of MTgox CEO,  Mark Karpeles  to level charges of fraud. But, Hackers are very clever to avail every eventuality they get. After compromising the MtGox CEO's blog, the hacker posted a 716MB ZIP file, MtGox2014Leak.zip , which contains the data dump and specialized software tools for remote access to MtGox data, but these software tools turned out to be a Bitcoin wallet stealing malware , according to the research carried out by the Kaspersky Lab Expert , Sergey Lozhkin. The application was actually a malware, which was created to search and steal Bitcoin wallet files from the victims' computer.
LINKUP - First Ransomware trojan that modifies DNS settings to mine Bitcoin forcefully

LINKUP - First Ransomware trojan that modifies DNS settings to mine Bitcoin forcefully

Feb 07, 2014
Till now we all have heard about the Ransomware malware that encrypts your files or lock down your computer and ask for a ransom amount to be paid in a specified duration of time to unlock it. Emsisoft has detected a new piece of malware called " Linkup ", dubbed as " Trojan-Ransom.Win32.Linkup " that doesn't lock your computer or encrypts files; rather it blocks your Internet access by modifying the DNS settings, with the ability to turn your computer into a Bitcoin mining robot.  Sounds Interesting?? Once the Linkup Trojan is installed in your system, it makes a copy of itself and disables the selected Windows Security and Firewall services to facilitate the infection. Injected poisoned DNS Server will only allow the malware and Bitcoin miner to communicate with the internet. It display a bogus notification on the victim's web browser, which is supposed to be from the Council of Europe , that accuses you of viewing " Child Pornography " and only returns th
Cyber criminals targeting another cryptocurrency 'Primecoin' with malicious miners

Cyber criminals targeting another cryptocurrency 'Primecoin' with malicious miners

Jan 16, 2014
Like Bitcoin, There are numerous other cryptocurrency similar in nature, including  MasterCoin , ProtoShares, Litecoin, Peercoin, BitBar and many more. One of them is  Primecoin  (sign: Ψ; code: XPM),  a peer-to-peer open source cryptocurrency that implements a scientific computing proof-of-work system. Unlike Bitcoin or other virtual currencies, only Primecoin provides a proof of work that has intrinsic value. It generates a special form of prime number chains, known as ' Cunningham chains & bi-twin chains ' and has a real world importance in mathematical research. Worldwide famous RSA Encryption basically uses two prime numbers for generating a RSA key pair. If you are able to factorize the public key and find these prime numbers, you will then be able to find the private key. Thus, the whole Security of RSA encryption is based on the length of prime numbers. So, Primecoin plays a great role for crypto researchers to get large... and a very large number of Primes. Like
Don't Install Crap ! Bitcoin Mining malware bundled with Potentially Unwanted Programs

Don't Install Crap ! Bitcoin Mining malware bundled with Potentially Unwanted Programs

Nov 30, 2013
The increasing public attention of Bitcoin did not go unnoticed by Cyber Criminals who have begun unleashing Bitcoin Mining malware. Security researchers at Malwarebytes warned about a new malware threat, in which Bitcoin Miners are bundled with third party potentially unwanted programs (PUPs) that come bundled with legitimate applications. Malware allow cybercriminals to utilize systems' computing resources for their own gain. " This type of system hijacking is just another way for advertising based software to exploit a user into getting even more cash. " The malware is found to be using ' jhProtominer ' a popular mining software that runs via the command line, to abuse the CPUs and GPUs of infected computers to generate Bitcoins. Upon further investigation Malwarebytes found that the parent of the Bitcoin miner was " monitor.exe ", a part of YourFreeProxy application, which " beacons out constantly, waiting for commands from a remote server, eventually downlo
Malware that turns computers into Bitcoin miners

Malware that turns computers into Bitcoin miners

Apr 09, 2013
Researchers from Kaspersky Lab have discovered a new spam message campaign being transmitted via Skype contains malware capable of using an infected computer to mine for Bitcoins. The malware, identified as Trojan.Win32.Jorik.IRCbot.xkt . Bitcoin is a non-governmental, fully-digital currency based on an open-source and peer-to-peer internet protocol. Cybercriminals have figured out that distributed Bitcoin mining is a perfect task for botnets and have started developing malware that can abuse the CPUs and GPUs of infected computers to generate Bitcoins. " Bitcoin mining is the process of making computer hardware do mathematical calculations for the Bitcoin network to confirm transactions and increase security, " Victims are encouraged to install malware file that is included with messages like " this my favourite picture of you ". Those who click the links, infected with a virus dropper downloaded from a server in India. If the malicious file is ins
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