How Centralized Social Media are Forced to Censor Content: Facebook Case
ForkLog | Bitcoin Magazine
by Krzysztof Shpak
3y ago
Key takeaways: Advertisers boycott Facebook for allegedly facilitating hate speech following Mark Zuckerberg’s refusal to moderate Donald Trump's post. Facebook is under increasing pressure to revise its content moderation policies. Centralized social networks are vulnerable to external pressure when it comes to moderation. This can potentially lead to infringement of freedom of speech, with Facebook being a case in point. Since June, the world's largest social network Facebook has been under constant barrage of criticism from advertisers, with a slew of major advertisers announcing they ..read more
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Bitcoin ATMs Operator Faces 30 Years in Prison for Money Laundering
ForkLog | Bitcoin Magazine
by Ana Alexandre
3y ago
Kais Mohammad, 36, a California resident also known under the moniker Superman29, has confessed to conducting unlicensed cryptocurrency exchange services and laundering up to $25 million. From 2014 to 2019, Mohammad operated an illegal virtual currency business called Herocoin. According to a press release published by the United States Department of Justice on July 22, Mohammad provided Bitcoin (BTC)-to-fiat exchange services, charging commissions up to 25%. The investigators believe he was aware that some of the funds he dealt with had been obtained illegally. A failure to maintain AML progr ..read more
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Whales Transfer Over 700K ETH in ‘Pre-Pump Positioning’
ForkLog | Bitcoin Magazine
by Ana Alexandre
3y ago
Ethereum’s (ETH) top 100 holders have moved more than 700,000 ETH ($191.1 million, at press time) to exchanges, over the past three days. Analysts at crypto analytics platform Santiment believe that this might suggest that the leading altcoin is on the verge of another pump. https://twitter.com/santimentfeed/status/1286131575722094592 ETH has broken the resistance zone of $250 it had been keeping since summer 2019, as pointed out by Carmine Lemone Investments CEO known as Bitcoin Kang. https://twitter.com/bitcoinkang/status/1286073446183636994 Michaёl van de Poppe of the Amsterdam Stock Exchan ..read more
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Researchers Disclose Bot in Disguise Mining Crypto and Stealing User Data
ForkLog | Bitcoin Magazine
by Ana Alexandre
3y ago
Threat intelligence research team Cisco Talos has discovered a cryptocurrency mining botnet attack dubbed Prometei. The main purpose of the actor is to deploy users' computer systems to mine Monero (XMR). Another possible goal is to steal Bitcoin (BTC) wallets that might be protected by passwords stolen with open-source app Mimikatz. Once installed and launched, the malware not only disguises itself as other programs to set up hidden mining operations but also allows the attacker to control the infected system and copy files. The analysts also identified attempts to steal administrator passwor ..read more
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Chess Ex-Champion Garry Kasparov: Bitcoin is Natural Choice in Fight Against Human Rights Violations
ForkLog | Bitcoin Magazine
by Ana Alexandre
3y ago
Former chess champion and human rights advocate Garry Kasparov has called Bitcoin and blockchain technology “very natural choices” in the struggle against human rights violations, Forbes reported on July 23. Kasparov noted that cryptocurrencies offer greater control over an individual’s own funds, as opposed to fiat which is controlled by governments, corporations, and banks. The danger of corporations The danger of corporations, according to Kasparov, is that they are “pretending to be guarding the interests of their customers in America or in Canada,” but when it comes to dealing with author ..read more
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Report: Hackers Took Advantage of ETH Mempool Congestion to Steal $8.3M MakerDAO
ForkLog | Bitcoin Magazine
by Krzysztof Shpak
3y ago
During the market crash in March, bad actors stole $8.3 million from DeFi protocol Maker DAO. Latest research from analytical company Blocknative suggested that it was made possible by manipulating the Ethereum (ETH) mempool. https://twitter.com/blocknative/status/1286009935390744576 According to the report, the hackers deployed bots to overload the ETH mempool with unusually low-fee transactions. This slowed down transaction confirmation speed and in some cases even resulted in their failure. Ethereum unconfirmed transaction volume chart Attackers took advantage of DAI features The attackers ..read more
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US Regulator Greenlights Banks to Provide Custody Services for Crypto
ForkLog | Bitcoin Magazine
by Ana Alexandre
3y ago
The Office of the Comptroller of the Currency (OCC), which is an independent bureau within the United States Department of the Treasury, has officially allowed federally chartered banks to store cryptocurrency wallet keys. https://twitter.com/usocc/status/1286009624856940544 The open letter written by the OCC Deputy Head Jonathan Gould suggests that banks are capable of offering safer custody services than existing market players. Banks are now allowed to provide fiduciary and non-fiduciary custody services. Apart from banks, the decision also covers federal thrifts. Notably, the letter also s ..read more
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Banking Trojan Mekotio Now Targets Cryptocurrencies
ForkLog | Bitcoin Magazine
by Ana Alexandre
3y ago
According to cyber-security firm ESET, the trojan Mekotio, which is known for stealing banking credentials, now directly targets cryptocurrencies. Once downloaded on the victim’s device, Mekotio detects the user’s attempts to visit an online bank, replaces the login window with a fake one, and sends the input data to a remote server. Now, Mekotio is able to replace crypto-wallet addresses. The trojan replaces the destination address with that of the hacker if the victim pastes the wallet number from the clipboard, instead of typing manually. Usually, victims download the trojan during phishing ..read more
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New Report Reveals How Long Hackers Keep Using Compromised Accounts
ForkLog | Bitcoin Magazine
by Ana Alexandre
3y ago
Security firm Barracuda Networks and UC Berkeley have jointly researched cybercriminals’ behavior once they take over accounts, specifically focusing on the end-to-end lifecycle of a breached account. The parties investigated 159 compromised accounts across 111 organizations in a bid to find out how threat actors take over accounts, how long attackers remain in compromised accounts, and how they use and extract information from these accounts. Dwelling in the Account for Weeks or Even Months According to a report published on July 23, some bad actors remain in compromised accounts for weeks or ..read more
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North Korean Hackers Create Crypto-Trading Apps to Steal Cryptocurrencies
ForkLog | Bitcoin Magazine
by Krzysztof Shpak
3y ago
This year, Lazarus, a hacker group associated with North Korea, has intensified its cyber attacks to steal cryptocurrencies, antivirus company Kaspersky Lab told the Russian publication Kommersant. The hackers have been releasing crypto-trading apps to bypass application store inspections. Still, the updates to the apps have an embedded trojan, namely, AppleJeus for macOS and Bluenoroff for Windows. Using the trojans, the hackers reportedly steal user access to crypto-wallets and exchanges. According to another cybersecurity provider Group-IB, the hackers create websites and social media accou ..read more
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