How Could the Printer Hack in Support of PewDiePie Threaten the Crypto Community?

Firstly, let us give you a little background. PewDiePie is, undoubtedly, the most famous Youtube video game player and social media influencer. His YouTube channel has almost 75 million followers. However, recently another channel (T-series) tried to outrun him, which started an online campaign “Save PewDiePie”, according to CCN.

As a part of this campaign, a hacker under the pseudonym TheHackerGiraffe managed to “break into” almost 50 thousand printers around the world to print messages supporting PewDiePie.

And what does it have to do with crypto, you might ask. The answer is simple: the fact that printers can be hacked so easily imposes a great threat on crypto wallet addresses that may remain in the memory of a printer. Moreover, a bit more efforts, and a hacker will get access to a computer that this printer is connected to and get hold of even more personal information. Thus, this campaign is a major wake-up call for the crypto community.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Elon Musk: Bitcoin Is Good, But Not For Tesla

Elon Musk has recently made a statement showing his attitude towards cryptocurrency and financial world as a whole. He supports Bitcoin, yet, it will not bring good for Tesla.

Elon Musk is a well-known technology entrepreneur and engineer with a fortune of $22.8 billion, he projects, like SpaceX, Tesla, PayPal, cover different areas of live, meanwhile they are competing to other companies at a high level. Musk is also a socially active person, he likes to post tweets sharing his thoughts about what is happening in the world. Though, sometimes it may bring consequences, like it was in July last year, when the SEC sent a request to Tesla regarding tweets of Elon Musk.

Furthermore, he freely expresses his attitude towards cryptocurrency. Once he even claimed how many Bitcoins he actually possessed. The Twitter community blowed up every time when Musk speaks about cryptocurrency. For instance, in October 2018, Elon posted a tweet about his love for anime and offered a subscriber to buy Bitcoins.

Twitter even blocked his account for a certain period of time to make sure he was the author. So, this time the world has gone mad, when Musk expressed his feelings about financial system and Bitcoin, in particular,  in the podcast “On the Road to Full Autonomy With Elon Musk.”

“Paper money is going away. Crypto is a far better way to transfer value than pieces of paper, that’s for sure,” he said. “Bitcoin’s structure is brilliant but I don’t think it would be a good use of Tesla’s resources to get involved in crypto.”

Furthermore, Musk added that Bitcoin has its pros and cons, yet, what he is really concerned about is crypto mining, to create one Bitcoin, people use high-powered computers to solve a complex math problem.

“We’re really just trying to accelerate the advance of sustainable energy, and I think one of the down sides of crypto is that computationally it’s quite energy intensive. There had to be some kind of constraints on the creation of crypto. But it’s very energy intensive to create slightly incremental Bitcoin, at this point.”

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

The Most Dangerous Crypto Crimes: What About SIM Swappers?

Cyber attack and crypto crimes in every shape and form are quite abundant on the market of digital assets right now. They all have different goals and different levels of harm. The careful and thorough analysis of such attacks will make it possible to predict them and protect sites, platforms and companies from breaches and money losses.

However, there is a weird tendency going on among the analytical reports, which we will try to explain down below.

Two major cyber security companies Chainalysis and CipherTrace released their analytical statements at the end of last year. Both reports contained statistics on hacker attacks and crypto crimes and an outline of current trends.

The main focus of CipherTrace was different money laundering techniques, cryptocurrencies that are the easiest targets for crypto criminals that choose this path, AML regulations and other related info.

Whereas Chainalysis told its readers on the scale and profitability of such Ethereum scams as phishing and various Ponzi schemes.

Surprisingly, there seems to be nothing about the infamous SIM-swapping.

Just to remind you, SIM-swapping is a kind of a cyber attack aimed at money theft. Simply speaking, a hacker convinces the phone provider to “swap” the number of a victim to a new device. In such way, criminals get full access to the personal information of their victims, still their identity, and later money.

SIM-swapping scams have been involved in multiple scandals with the biggest cell-phone providers of America, the crimes involving this technique resulted in huge money thefts and loud arrests of witty hackers, yet very few reports actually mention it.

However, this still does not diminish the dominance of SIM-swapping over many other types of crypto crimes. In order to fight it, we not only need more coverage from the mass media and analytical firms, but also the cooperation from the cell phone companies to protect the users, their info and their money.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

The Banks in Canada Employ Hackers to Test Out Their Security Systems

One of the banks in Canada, Toronto-Dominion, chose an interesting technique of testing the proficiency of their security structure. The bank management hired real hackers and asked them to break into their system.

The initiative started out last year by the cyber threat management department. A whole team of cybersecurity experts was hired by the bank and is occasionally trying to hack accounts or networks on behalf of their employers.

We’re doing it exactly how our adversaries would do it … So if we find a weakness or something like that, we can close it or address it before a real attacker,” said a bank representative.

The creative idea was soon adopted by multiple large financial organizations all over the country.

Canadian banks hope that such measures will help in preventing hacker attacks on banks and exchanges that are getting more numerous, intricate and harder to battle by the day.

We remind you:

Two Groups of Professional Hackers Carry Out 60% of All Crypto Attacks

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

The Exchange Cryptopia Suffers from Another Hacker Attack

As we reported earlier, the cryptocurrency exchange Cryptopia, based in New Zealand, went through a major hacker attack, which resulted in significant money losses. We remind you:

Cryptopia Got Hacked, Crypto Exchange Is Suffering “Significant Losses”

However, it seems that the hard times are not over for Cryptopia. The hackers that robbed it earlier went quiet for two weeks just to lull everybody’s vigilance and prepare for a new attack.

According to the statistical data from the company Elementus, the cyber criminals got hold of 1675 ETH from 17 thousand different wallets. In monetary terms, this sum of money amounts to around 181 thousand dollars.

At first, it looked like Cryptopia was moving the assets of its users to protect them, but later on it turned out that those were the hackers moving the money to their cryptocurrency wallets.

Shockingly, some users are still unaware of the hacker attack and keep depositing money onto their wallets, in other words, into the pockets of the hackers.

The hacker has the private keys and can withdraw funds from any Cryptopia wallet at will,” claimed the Elementus team.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Two Groups of Professional Hackers Carry Out 60% of All Crypto Attacks

As it has been reported by the analytical company Chainalysis, more than a half of all cyber attack leading to crypto theft were conducted by only two groups of people. Altogether they stole around 1 billion dollars.

Despite the common misconception that a hacker should definitely be a nerdy, skinny guy in glasses, always shy and quiet, maybe even a sociopath, this actually couldn’t be further from truth. Most cyber criminals work in groups and all of their operations are meticulously thought-out and calculated.

Chainalysis pointed out two major crypto “gangs” and called them Alpha and Beta. These two organizations, however, the objectives of their attacks are quite different. While group Beta just aims to get more money and multiply their bank accounts, group Alpha is pursuing much darker things, such as sponsoring acts of terror and human trafficking.

Moreover, both of the organizations professionally hide their trails, using multiple wallet addresses, crypto mixers and difficult money laundering schemes. This makes it almost impossible to catch them and track down the stolen assets.

As for how to protect oneself from such attacks, Chainalysis suggested the following:

A working knowledge of how hackers move funds can equip legitimate participants to identify unusual spikes in transactions that may be tied to criminal activity. Cooperation between exchanges also goes a long way to help fight crime in this ecosystem. Neutral intermediaries between exchanges can play an important role in this effort.”

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

John McAfee Runs into an Exile after Being Charged with Tax Fraud

A crypto enthusiast John McAfee, who is known for his eccentric behavior, has gotten himself into a new scandal, this time with Internal Revenue Service.

According to the post published by Daily Express, IRS has charged the crypto evangelist for not filing return on his taxes, along with his wife Janice and four members of his 2020 presidential campaign. McAfee commented on the matter by saying:

Today, the IRS has convened a grand jury in the state of Tennessee to charge myself, my wife Mrs McAfee, and four of my campaign workers with unspecified crimes of a felonious nature.”

Internal Revenue Service has not provided any official statements about this whole situation, however, it is quite obvious that the charges have to do with millions of dollars in taxes that McAfee did not pay.

Meanwhile, McAfee refused to pay anything to IRS and left into an “exile” on his luxurious yacht which is now sailing near the coast of Venezuela. He also promised to run his campaign from the boat if needed.

McAfee called this an attempt of the government to “silence, imprison and shut his voice down” and claimed that he would not give in.

Today, crypto community, we are at war and I am on the front lines,” he said.

We remind you:

Who Will Play the Main Role in the Movie about John McAfee Instead of Johnny Depp?

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/