digital currency | Breaking Cybersecurity News | The Hacker News

A Russian operator of a now-dismantled BTC-e cryptocurrency exchange has  pleaded guilty  to money laundering charges from 2011 to 2017. Alexander Vinnik, 44, was charged in January 2017 and taken into custody in Greece in July 2017. He was subsequently  extradited  to the U.S. in August 2022. Vinnik and his co-conspirators have been accused of owning and managing BTC-e, which allowed its criminal customers to trade in Bitcoin with high levels of anonymity. BTC-e is said to have facilitated transactions for cybercriminals worldwide, receiving illicit proceeds from numerous computer intrusions and hacking incidents, ransomware scams, identity theft schemes, corrupt public officials, and narcotics distribution rings. The crypto exchange received more than $4 billion worth of bitcoin over the course of its operation, according to the U.S. Department of Justice (DoJ). It also processed over $9 billion-worth of transactions and served over one million users worldwide, several of them i

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned three cryptocurrency exchanges for offering services used to evade economic restrictions imposed on Russia following its invasion of Ukraine in early 2022. This includes Bitpapa IC FZC LLC, Crypto Explorer DMCC (AWEX), and Obshchestvo S Ogranichennoy Otvetstvennostyu Tsentr Obrabotki Elektronnykh Platezhey (TOEP). In all, the designations cover thirteen entities and two individuals operating in the Russian financial services and technology sectors. "Many of the individuals and entities designated today facilitated transactions or offered other services that helped OFAC-designated entities evade sanctions," the Treasury  said , adding the action seeks to "target companies servicing Russia's core financial infrastructure and curtail Russia's use of the international financial system to further its war against Ukraine." Bitpapa, which offers virtual currency excha

For years, securing a company's systems was synonymous with securing its "perimeter." There was what was safe "inside" and the unsafe outside world. We built sturdy firewalls and deployed sophisticated detection systems, confident that keeping the barbarians outside the walls kept our data and systems safe. The problem is that we no longer operate within the confines of physical on-prem installations and controlled networks. Data and applications now reside in distributed cloud environments and data centers, accessed by users and devices connecting from anywhere on the planet. The walls have crumbled, and the perimeter has dissolved, opening the door to a new battlefield: identity . Identity is at the center of what the industry has praised as the new gold standard of enterprise security: "zero trust." In this paradigm, explicit trust becomes mandatory for any interactions between systems, and no implicit trust shall subsist. Every access request, regardless of its origin,

A 29-year-old Ukrainian national has been arrested in connection with running a "sophisticated cryptojacking scheme," netting them over $2 million (€1.8 million) in illicit profits. The person, described as the "mastermind" behind the operation, was apprehended in Mykolaiv, Ukraine, on January 9 by the National Police of Ukraine with support from Europol and an unnamed cloud service provider following "months of intensive collaboration." "A cloud provider approached Europol back in January 2023 with information regarding compromised cloud user accounts of theirs," Europol  said , adding it shared the intelligence with the Ukrainian authorities. The Cyber Police of Ukraine, in a separate announcement, said the suspect "infected the servers of a well-known American company with a miner virus" at least since 2021, using custom brute-force tools to infiltrate 1,500 accounts of the firm. "Using the compromised accounts, the hacker gained access to the management of the service," the a

China's central bank today announced an immediate ban on all ICO—Initial Coin Offering—fundraising, to prevent fraud and illegal fundraising. ICO is the hottest new thing in the blockchain world, which is an alternative to crowdfunding that lets a firm raise funding from multiple sources. The People's Bank of China (PBoC), the country's central bank and financial regulator, has issued an official notice on Monday, forbidding "all types of currency issuance financing activities" that have "seriously disrupted the economic and financial order." This PBoC's bold move has been backed by many other Chinese government administrators and regulators including the China Securities Regulatory Commission, China Insurance Regulatory Commission and the Ministry of Industry and Commerce, and China Banking Regulatory Commission. This move marks the end of an era of ICO fundraising in China. The regulator claims that ICOs are being misused for "

One of the world's largest Bitcoin and Ether cryptocurrencies exchanges Bithumb has recently been hacked, resulting in loss of more than $1 Million in cryptocurrencies after a number of its user accounts compromised. Bithumb is South Korea's largest cryptocurrency exchange with 20% of global ether trades, and roughly 10% of the global bitcoin trade is exchanged for South Korea's currency, the Won. Bithumb is currently the fourth largest Bitcoin exchange and the biggest Ethereum exchange in the world. Last week, a cyber attack on the cryptocurrency exchange giant resulted in a number of user accounts being compromised, and billions of South Korean Won were stolen from customers accounts. Around 10 Million Won worth of bitcoins were allegedly stolen from a single victim's account, according to the Kyunghyang Shinmun, a major local newspaper. A survey of users who lost cryptocurrencies in the cyber attack reveals " it is estimated that hundreds of mill

Are you a programmer? If yes, then you would know the actual pain of... "forgetting a semicolon," the hide and seek champion since 1958. Typos annoy everyone. Remember how a hacker's typo stopped the biggest bank heist in the history, saved $1 billion of Bangladesh bank from getting stolen. But this time a typo in the Zerocoin source code costs the company more than $585,000 in losses. Zerocoin cryptocurrency protocol is designed to add true cryptographic anonymity to Zcoin transactions that take full advantage of "Zero-Knowledge proofs" to ensure the complete financial privacy of users. Zcoin announced Friday that " a typographical error on a single additional character " in the Zerocoin source code helped an attacker to steal 370,000 Zerocoin, which is over $585,000 at today's price. "We estimate the attacker has created about 370,000 Zcoins which has been almost completely sold except for about 20,000+ Zcoin and absorbed on

After the lack of supply of cash in India following its Prime Minister step to remove high-denomination banknotes from circulation in November 2016, the country is moving a step closer towards becoming a cashless economy with the launch of Unified Payment Interface ( UPI ). Unified Payment Interface ( UPI ) allows all bank account holders to pay money from their smartphones, both online and offline, without the need to enter credit card details, IFSC code, or net banking userID/passwords. All the users need to do is create a Virtual Payment Address (VPA) of their choice, which will act as their financial address, and link it to their bank account. Now in an effort to boost the adoption of Unified Payments Interface (UPI) as a tool for digital transactions, Indian Government has recently launched a new app called, the Bharat Interface for Money ( BHIM ) app . This new digital payments app, which is believed to be a game-changer for cashless payments in India, is currently av

UPDATE: The site is back and working. Blockchain team released a statement via Twitter, which has been added at the end of this article. If you are fascinated with the idea of digital currency, then you might have heard about BlockChain.Info. It's Down! Yes, Blockchain.info, the world's most popular Bitcoin wallet and Block Explorer service, has been down from last few hours, and it's believed that a possible cyber attack has disrupted the site. The site is down at the time of writing, and the web server reports a bad gateway error, with a message on the website that reads: "Looks like our site is down. We're working on it and should be back up soon." With more than 8 million Digital Wallet customers, BlockChain is users' favorite destination to see recent transactions, stats on mined blocks and bitcoin economy charts. A few hours ago, BlockChain team tweeted about the sudden breakdown of the site, saying: "We're researching a DNS

A winning anonymous bidder bought 2,700 Bitcoins ( worth roughly $1.6 Million ) in an auction held by the United States Marshals Service ( USMS ) on Monday. The US government announced at the beginning of this month its plans to auction 2,719 Bitcoins that were seized during several criminal, civil and administrative cases like Silk Road. The US Marshals confirmed to CoinDesk that four bids were received in the auction that took place between 13:00 and 19:00 UTC on August 22. The majority of the Bitcoins in the auction were stemmed from investigations of the Silk Road online black marketplace. Included 2,719 Bitcoins in the auction were: Around 1,300 Bitcoins seized from a civil case related to Matthew Gillum, a Silk Road drug dealer, who was sentenced to nine years in prison in 2015. Only 2.8 Bitcoins directly came from Silk Road founder Ross Ulbricht , who was found guilty of operating Silk Road for illegal goods and handed two life sentences . Some 65 Bitcoins came

It's 2016, and now, you can earn some dollars by contributing into well-organized DDoS attack scheme. Do you know while mining Bitcoins you are actually contributing a significant computational power to keep the Bitcoin network running? In Bitcoins, the miners actually build and maintain massive public ledger containing a record of every Bitcoin transaction in history. When one user tries to send Bitcoins to another user, the miners validate the transfer by checking the ledger to make sure the sender is not transferring money he/she does not have, adding the transaction to the ledger and then finally sealing it behind layers and layers of computational work to protect that ledger from getting compromised or hacked. So for this, miners are rewarded with Bitcoins. So, basically, you are contributing the massive amount of computing power that keeps the Bitcoin transactions running and makes you earn some cryptocurrency in return as an incentive. However, Bitcoin has long be

Yet another blow to Bitcoin: One of the world's most popular exchanges of the cryptocurrency has suffered a major hack, leading to a loss of around $72 Million worth of Bitcoins. Hong Kong-based Bitcoin exchange ' Bitfinex ' has posted a note on their website announcing the shutdown of its operation after discovering a security breach that allowed an attacker to steal some user funds. While the company did not mention a total amount lost in the breach, one of their employees — Bitfinex community director Zane Tackett — confirmed on Reddit that the total amount stolen was 119,756 bitcoins — worth up to $72 Million in cash. The cause of the security breach and the hacker behind the incident is still unclear, but the attackers appear to have mysteriously bypassed Bitfinex's mandated limits on withdrawals. "The theft is being reported to — and we are co-operating with — law enforcement," Bitfinex statement reads. "We will look at various options to

A former United States undercover agent who stole hundreds of thousands of dollars worth of Bitcoins during an investigation into the underground drug marketplace Silk Road is now suspected of stealing even more of the cryptocurrency from two other cases. Shaun Bridges is one of two former US agents who pleaded guilty last year and was sentenced in December to almost six years in prison for stealing over $800,000 in Bitcoin while investigating the Darknet marketplace. Bridges and his partner stole money from Silk Road accounts and framed someone else for it, which lead the Silk Road chief Ross Ulbricht to plan a murder. Ulbricht is now serving life in prison sentence . Ulbricht was convicted in February 2015 of running the underground black market . According to court filings unsealed on Thursday, Bridges is believed to have stolen additional funds from a Secret Service account on two different occasions months after he was initially charged. Bridges and 46-year-old fo

The mysterious creator of the BITCOIN digital cryptocurrency seems to have been identified as an Australian entrepreneur, and his name is: Craig Steven Wright. Five months after Wright, an Australian computer scientist and businessman was outed as Satoshi Nakamoto , revealed himself as the original inventor of Bitcoin digital currency. Wright has published a blog post offering Cryptographic Key as proof of his work, backed up by other technical information and the prominent Bitcoin community members have also corroborated his claim. However, Satoshi Nakamoto has always shown the desire to remain anonymous, while Wright has not. " I am not seeking publicity, but want to set the record straight, " he explains. Wright has provided some technical proofs to BBC , The Economist, and GQ media outlets that link him to the identity of Nakamoto. Craig Wright Claims He is Satoshi Nakamoto At the meeting with the BBC and Economist, he digitally signed messages using th

Microsoft reckoned Bitcoin was the future of payment system and added it as a payment option for Windows store at the end of 2014, but the company has silently pulled support for Bitcoin in the Windows 10 Store. In November 2014, Microsoft struck a deal with third-party bitcoin payment processor ' Bitpay ' that allowed people to use Bitcoin to purchase Microsoft's products and services from Windows Stores. However, Microsoft quietly updated the Windows Store FAQ that popped up " Microsoft Store doesn't accept Bitcoin. " The end of support for Bitcoin payments only applies to Windows 10 and Windows 10 Mobile stores.  "Microsoft Store doesn't accept Bitcoin. You can no longer redeem Bitcoin into your Microsoft account," the update reads. "Existing balances in your account will still be available for purchases from Microsoft Store, but can't be refunded." In short, you can make use of an existing balance in your accou

Some of Bitcoin's Core developers have left the Bitcoin project and started building their separate cryptocurrency called DECRED . Decred aims to prevent the issues Bitcoin is currently facing regarding project governance and development funding. CEO of ' Company 0 ', Mr. Jacob Yocom-Piatt , who has funded Bitcoin development since early 2013, said the actual development of the Bitcoin cryptocurrency is funded by external entities that forms a conflict of interests between the groups and the project's core developers. According to Bitcoin's developers, these group puts limitations on input in Bitcoin's governance, selecting options that are favorable to their own interests only, and generally ignoring the developers' and project's best interests. "The Bitcoin software is controlled by a small group of people who decide exclusively what can and cannot be changed," Jacob says in a press release . "This is in part due to a la

Just hours after the Australian man ' Craig Steven Wright ' outed as the possible real identity of Satoshi Nakamoto , the anonymous creator of Bitcoin, Australian Police raided his home in Sydney. Over 10 police officers raided Wright's home in the Sydney suburbs on Wednesday afternoon. They forcefully opened the door, and 'started searching the cupboards and surfaces of the garage.' However, the Sydney police raid at Wright's home is not associated with the claims of his being involved in creating Bitcoins, rather related to the Australian Taxation Office investigation, the Guardian reported . Wright was recently identified as the mysterious creator of Bitcoin, based on leaked transcripts of legal interviews and a number of emails and blog posts. However, neither Dr. Wright nor anyone else has publicly confirmed the real identity of the founder of Bitcoin Satoshi Nakamoto. In a statement, the Australian Federal Police (AFP) officers said the raids weren

Breaking Update:   Police Raid alleged Bitcoin Creator Craig Wright's Home in Sydney . Yes, Satoshi Nakamoto , the mysterious creator of the Bitcoin digital cryptocurrency has possibly been identified as an Australian entrepreneur, according to investigations independently done by Wired and Gizmodo . His name is Craig Steven Wright … ...at least based on some convincing evidence shown by both the publications. Bitcoin is a revolutionary virtual currency developed around Blockchain , a complicated cryptographic protocol and a global computers network that oversees and verifies which Bitcoins have been spent by whom. The identity of the ones spending Bitcoins are extremely difficult to trace because of its anonymous nature, therefore, are very popular among criminals. Also Read:   Meet The World's First Person Who Hacked His Body to Implant a Bitcoin Payment CHIP Satoshi Nakamoto is not only the father of an entire economy worth Billions of dollars,

Are you the one of the Digital Currency Holder? PONY is after You.  A Group of cyber criminals has used hundreds of thousands of infected computers of the digital currency holders to filch approximately $220,000 worth of Bitcoins and other virtual currencies. The researchers at the security firm, Trustwave have uncovered the Bitcoin Heist that was accomplished by the computers infected with a new class of malware that has been dubbed as ' Pony ', a very powerful type of Spying Keylogger Malware with very dangerous features that was last time found two months ago. Pony, for those who have not yet heard about it, is a bot controller much like any other, with the capability to capture all kinds of confidential information and access passwords. It contains a control panel, user management, logging features, a database to manage all the data and, of course, the statistics. It can see the passwords and login credentials of infected users when they access applications and

The breaking news is that, another Bitcoin exchange  company gets hacked i.e. BIPS ( bips.me ), one of the largest European Danish Bitcoin payment processors. On Friday evening, a bunch of cyber criminals just broke into BIPs - Bitcoin payment processor servers and wiped out around 1,295 Bitcoin from people's wallets, currently worth $1 Million. More than 22,000 consumer wallets have been compromised and BIPS will be contacting the affected users. Initially on 15th November, Hackers launched Distributed Denial of Service (DDoS) attack on BIPS, originate from Russia and neighboring countries and then hackers attacked again on 17th November. This time somehow they got access to several online Bitcoin wallets, which allowed them to steal the 1,295 BTC. " As a consequence Bips will temporarily close down the wallet initiative to focus on real-time merchant processing business which does not include storing of Bitcoins. " company says. " All existing users will be aske

Two most important moments in the history of Bitcoin are : Its creation by Satoshi Nakamoto , and the burst of The Silk Road's Founder  Ross William Ulbricht . The silk Road's black market was a Bitcoin economy. According to a report published by two Israeli computer scientists,  Ross William Ulbricht , aka Dread Pirate Roberts , may be financially linked to Satoshi Nakamoto. Even if the Bitcoin buyers and sellers remained anonymous, but the transactions themselves are public, So the scientists were able to trace the interactions. The Scientists, Ron and Shamir were exploring the connection between the operator of Silk Road who was recently arrested by the FBI for running the Internet blackmarket Silk Road and the entity that invented the bitcoin. The bitcoin network was established in 2008 and it has been popularly believed that the first accounts in the early days of the bitcoin were of Satoshi Nakamoto , accumulated some 77,600 BTC as a result of 'mining' Bitcoins