Ethereum Holders Lost $20 Million Due to a Hacker Attack

hackers Ethereum

A Chinese company Qihoo 360 which specializes in cyber security announced that unknown people managed to hack some of the apps based on Ethereum and illegally transfer $20 million worth of this cryptocurrency to their digital wallet.

According to the company, the attempts to conduct such kind of an attack have begun earlier this years. The criminals were surfing the Internet looking for vulnerable Ethereum-based apps and mining equipment. However, back in March, they only managed to stole around 4 ETH. This time the sum jumped up to almost 40k ETH, which is 20.5 million in US dollars.

The attackers took advantage of unsecured Remote Procedure Call interfaces of some apps. RPC can give access to some personal information, like wallet address, using an API, that is why most apps tend to turn it off to secure the users and their money. Apparently, there were still some apps which had it, and the hackers immediately found this vulnerability.

Later on, Qihoo 360 published addresses of the wallets used by the hackers to steal the money.

Hacker attacks are getting more frequent and well-planned almost on a daily basis. We would like to remind you that $152 thousand was stolen from the users of MyEtherWallet not so long ago. With the situation worsening, cryptocurrency holders should be extremely careful, while developers and companies should be definitely updating and strengthening their security systems.

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Chinese Miners are Disconnected From the Grid

According to the CNN, due to tax inspection, Chinese establishment have suspended their work.

The Ministry of Public Safety (China) demand that the mining farms,  which are located in the Chinese provinces of Xinjiang and Guizhou, accept the agreement that they will work in accordance with the new, tough rules. The requirements include the denial of services of unregistered  clients.
During the audit,  mining farms were disconnected from the grid, as a result they lost 1 million yuan daily, about 143 700 dollars.

The Tax Inspectorate has already completed the investigation, but the power supply to mining farms still has not been connected.

It should be reminded, we reported earlier that Chinese Middle School Managers were mining Ethereum.

Administartion of Chinese Secondary School Was Mining Ethereum: Details of Crime

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Bank of America Has Officially Patented A System for Saving Crypto Actives for Significant Corporations

One of the major USA banks has been approved the patent for a system of saving crypto assets. The application for the patent describes a method for safekeeping cryptocurrency assets of users of the system. It also stated that the bank will cooperate only with major corporations.

The popularity of using cryptocurrency has turned into a trend that many companies are aiming at. The biggest part of major corporations serves their clients with the help of cryptocurrency. Because of this, there is a need to convert the cryptocurrency into any currency deposit, which has to be placed in a storage.

It is possible to improve the security and safety of deposit funds with the help of single corporate accounts that maintain the cryptocurrency storage.

At the same time, the clients will receive credit funds, the amount of which is equal to the crypto deposit. This concept was introduced by Bank of America.

The patent spelled out a storage system specially designed for the banking system, which processes and stores the secret key. The system is demanding to high throughput of a channel and the amount of calculation capacities.

When required to complete a transaction, the system will provide customers with access to Member’s personal account.

It should be reminded, that previously Bank of America approved the patent for close system private keys, that supports remote management.  

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Linux System Is Affected By A Malicious Crypto Mining Malware: How To Detect It?

Trend Micro, Japanese company specializing in crypto security, published a report on its website stating that they found a malware affecting Linux system.

The company found a cryptocurrency miner KORKERDS’s hidden activity from Linux users extremely suspicious and started investigation, where they found malware, later called as Coinminer.Linux.KORKERDS.AB, and its rootkit component Rootkit.Linux.KORKERDS.AA. The way of infection will be investigated very soon, there is already some information that the malware may get installed onto computer through a plugin or downloaded software. More technical aspects are described in the report.

The company explains:

“This makes it difficult to detect, as infected systems will only indicate performance issues. The malware is also capable of updating and upgrading itself and its configuration file.”

What is worth to mention is that such operating systems as Mac OS and Linux are considered to be immensely secured, thus, it is hard to integrate any file without users’ consent. The malicious mining software seems to be a built-in plugin, where a user gives an administrator consent to install anything.

Trend Micro provided some Indicators of Compromise (IoCs) to prevent users to be affected: (Editor’s Note: Indicator of compromise (IOC) — is an artifact observed on a network or in an operating system that with high confidence indicates a computer intrusion. Typical IOCs are virus signatures and IP addresses, MD5 hashes of malware files or URLs or domain names of botnet command and control servers. Source: https://en.wikipedia.org/ )

Related hashes (SHA-256):

  • cdd921a5de5d5fffc51f8c9140afa9d23f3736e591fce3f2a1b959d02ab4275e (Trojan.Linux.DLOADER.THAOOAAK)
  • baf93d22c9d1ae6954942704928aeeacbf55f22c800501abcdbacfbb3b2ddedf (Coinminer.Linux.KORKERDS.AB)
  • 0179fd8449095ac2968d50c23d37f11498cc7b5b66b94c03b7671109f78e5772 (Coinminer.Linux.KORKERDS.AA)
  • 023c1094fb0e46d13e4b1f81f1b80354daa0762640cb73b5fdf5d35fcc697960 (Rootkit.Linux.KORKERDS.AA)

Related malicious URL:

  • hxxps://monero[.]minerxmr[.]ru/1/1535595427x-1404817712[.]jpg

We want to remind you, no matter how secure your computer is, in your opinion, it still may be affected by professional cryptohackers. Thereby, if you find any suspicious file or plugin, please, read the following article or consult service centre.

What Is Hidden Mining, Why Is It Dangerous and How to Delete the Virus?

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The Real Estate Market Switches to Blockchain

The power of countries depends on the economy, which real estate market is a significant segment of. More than 50% of global finance belongs to it. An impressive share, isn’t it? This market segment is most adapted to reforms and crises.

However, this does not mean that it cannot be slightly improved by innovations, such as the blockchain. Technological upgrade will allow the real estate market, as well as the economy in particular, to move to a new stage of development.

While the real estate market is “collecting its belongings” and is preparing for a full-fledged move to the blockchain, a Japanese company has launched the sale of real estate for cryptocurrency. A couple of Bitcoins can buy you a paradise on an island somewhere in the Caribbean. The world of real estate is gradually becoming digital.

Definitely, the “relocation” of the housing market onto the blockchain will have a positive impact on its development. This promising combo will improve and facilitate the purchase of real estate as follows. It will allow to:

  • exclude intermediaries who charge a commission in the course of transactions;
  • reduce the time for the preparation of transactions and references;
  • reduce the risk of fraud;
  • simplify the process of checking property before selling:
  • customers can buy property at any time of the day;
  • opportunity to track the entire history of the transaction.

All this makes the purchase of real estate easier and safer, but not publicly available. The latter and the above mentioned benefits can be offered by Elements Estates.

The project provides an opportunity to buy housing not only to reserved players. Owing to blockchain technology the national boundaries are disappearing as assets can freely move from one country to another.

It is time to improve the global economy by reinforcing the real estate market with blockchain and cryptocurrency.

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Trading Bytecoin On Poloniex Requires 2000 Confirmations and 3 Days of Waiting

One of the biggest news outlet media CCN decided to conduct an investigation how much time a person needs to trade Bytecoin on Poloniex, and was abashed by the received results.

The reporter entered the exchange and was willing to use his Bytecoin holdings, thus, he made the deposit complying with all requirements of Poloniex exchange, like using payment ID and paying the transaction fees. After some hours, his assets were converted into pre-fork BCHABC and BCHSV tokens, yet there were still no Bytecoins.

Usually, Bytecoin requires 10 confirmations. The number is high due to unreliable mining network. After 6-10 hours, the reporter began worrying and decided to contact Poloniex support.

He received the following response:


Source:
https://www.ccn.com/

When CCN published this investigation Bytecoin had about 24 blocks in one hour. If 24/hour is a standard rate, then it means a deposit time requires nearly 84 hours – 3 ½ days – to complete all 2000 confirmations.


Source:
https://www.ccn.com/

We remind you

Bytecoin Cryptocurrency: What Rate Should We Expect in 2018?

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Bitmain Is Suing a Person Who Allegedly Stole 617 BTC from Them

A major Chinese company Bitmain, specializing in producing mining equipment, has filed a lawsuit to the court, claiming that an unknown hacker has broken into their account on the crypto exchange Binance and got hold of over 600 Bitcoins. Thus, Bitmain suffered the loss of over 5 million dollars.

Although the criminal has not yet been identified, it is known that he or she did not transfer the digital assets to a separate account or wallet. Instead, the hacker used the money to boost the rate of a little-known cryptocurrency MANA, which can be seen on the CoinMarketCap price chart.

Currently, the representative of Bitmain are negotiating with Binance on the issue of revealing the identity of a possible hacker.

We remind you:

AT&T and T-Mobile Are Sued by the People Affected by the Sim Swapping Hacking Attacks

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