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Smart hackers could exploit a loophole that could allow them to steal a significant amount of cash from Google, Microsoft and Instagram using a Premium rate phone number. Security researcher Arne Swinnen from Belgium has discovered an ingenious way to steal money from big tech companies like Google, Microsoft, and Instagram using their two-factor authentication (2FA) voice-based token distribution systems. Swinnen argues that any attacker with malicious intent could create fake Google, Microsoft or Instagram accounts, as well as premium phone services, and then link them together. The attacker could then request 2FA voice-based tokens for all fake accounts using an automated scripts, placing legitimate phone calls to his service to earn him quite a nice profit. Swinnen created accounts on Google, Microsoft Office 365 and Instagram and then tied them to a premium phone number instead of a regular one. As a result, whenever one of these three services would call the account...

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 than Bitcoin, as the sender, recipient, and value of transactions remain hidden. In a blog post published today, the Zerocoin Electric Coin Company—the startup behind Zcash—revealed that one of its employees, Ariel Gabizon, discovered the vulnerability in its code on 1st March 2018, the night prior to his talk at the Financial Cryptography conference almost a year ago. Gabizon contacted Sean Bowe, a Zcash Company's cryptographer, immediately after discovering the counterfeiting vulnerability, as dubbed by the team, and the team decided to keep the flaw secret in order to avoid the risk o...