The U.S. Department of Justice (DOJ) announced on Wednesday that Nikita Andreevich Sklyuev, also known as Valeriy Dorojkin, has been extradited from Ukraine and arraigned in Buffalo, NY, on charges of wire fraud and fraudulent use of an unauthorized access device. Sklyuev is accused of submitting a malicious cryptocurrency wallet app, “EOSIO Wallet Explorer,” to […]
Bitcoin News
Ran Neuner Believes Blackrock’s Bitcoin ETF Could Double Price Next Year, Dismisses ‘Malicious Intent’ Speculations
Following Blackrock, the largest asset manager globally, filing for a spot bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), Ran Neuner, host of Crypto Banter, stated during an interview with Michelle Makori, lead anchor for Kitco News, that he believes the asset manager has “no malicious intent.” Neuner additionally expressed his view that the price of bitcoin could potentially double next year, stating that this is on the “conservative” side.
Crypto Banter Host Ran Neuner Bullish About Blackrock Spot Bitcoin ETF Filing
Many members of the crypto community have been engaged in discussions regarding institutional interest in the crypto economy, which has increased following Blackrock’s filing for a spot bitcoin ETF. While the filing has sparked institutional interest and led to a rise in crypto prices, there are speculations suggesting that the firm’s move might be a “coordinated attack.” Some individuals have presumed that the filing strangely occurred shortly after the initial wave of enforcement actions known as “Chokepoint 2.0” targeting influential entities within the crypto industry.
During a recent interview with Michelle Makori, lead anchor and editor-in-chief for Kitco News, Ran Neuner, the host of Crypto Banter, expressed his belief that Blackrock’s intentions are not malicious, despite the rumors and criticism circulating on social media. Some crypto enthusiasts have scrutinized the details of Blackrock’s ETF filing, noting a mention of a hard fork, leading to speculation that Blackrock could take control of development and split the network. “That is not a theory I’m concerned about, to be honest,” Neuner emphasized to Makori.
“Whether or not one party owns all the bitcoin won’t make bitcoin centralized,” Neuner insisted to the show host. “The only way that that can change is if the majority of the miners, over 50 percent of the miners around the world, agree that the rules need to change … Regardless of who owns the bitcoin, the mining still remains decentralized.”
Neuner expressed his viewpoint that Blackrock’s spot bitcoin ETF, combined with the upcoming halving scheduled for April 20, 2024, will drive the price upwards. Neuner stated his belief that the price could potentially reach “much higher” levels, doubling its current value. “I’m just being conservative,” he told the Kitco News show host. “I think [the Blackrock ETF] could be a game changer,” Neuner stated. “If you get a bitcoin spot ETF, you now really open all of this money coming into crypto with an easy way to access this asset.”
Although Neuner’s theory is plausible, there were complaints following the approval of a spot gold ETF by the U.S. in 2004, as it faced accusations of price manipulation and suppression. In the interview, Neuner also discussed U.S. presidential candidates who have expressed support for Bitcoin (BTC), such as Francis Suarez, Ron DeSantis, Robert F. Kennedy Jr., and Vivek Ramaswamy. Neuner views the increasing number of candidates endorsing BTC as a positive development that brings the topic into the spotlight.
“Most of the candidates that have put their hats in the ring … have taken a favorable position on bitcoin and crypto,” Neuner explained. “The market is telling you, and the politicians are telling you, that bitcoin is an election issue.”
What are your thoughts on Ran Neuner’s optimism toward the Blackrock Spot Bitcoin ETF filing? Share your thoughts and opinions about this subject in the comments section below.
Zcash Community Discovers Likely Malicious Fake Version of ZecWallet
n Zcash users discover a counterfeit version of ZecWalletn
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Hackers Use Malicious Code in WAV Audio Files To Mine Cryptocurrencies
n Hackers use malicious code in WAV audio files to mine cryptocurrenciesn
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BitPay Warns Users to Move Funds to New Wallets Amid Malicious Code Outbreak
Global Bitcoin payment service BitPay has warned customers of a vulnerability on a third-party NodeJS package used by the Copay and BitPay apps which could be used to capture users’ private keys. The company said the malicious code was deployed on versions 5.0.2 through 5.1.0 of its Copay and BitPay apps. BitPay recommended users to move funds to new wallets immediately as private keys are potentially compromised.
BitPay Investigates Whether Code Vulnerability Exploited Copay Users
BitPay is currently investigating the matter as to whether Copay users suffered from any attack purported the malicious code, the company said in a statement.
“Currently, we have only confirmed that the malicious code was deployed on versions 5.0.2 through 5.1.0 of our Copay and BitPay apps. However, the BitPay app was not vulnerable to the malicious code. We are still investigating whether this code vulnerability was ever exploited against Copay users.”
The Bitcoin payment service warned customers not to use any infected Copay versions before running a security update provided by BitPay in the app stores.
“Our team is continuing to investigate this issue and the extent of the vulnerability. In the meantime, if you are using any Copay version from 5.0.2 to 5.1.0, you should not run or open the app. A security update version (5.2.0) has been released and will be available for all Copay and BitPay wallet users in the app stores momentarily.”
Additionally, BitPay recommended users to move funds to new wallets (v5.2.0) immediately as private keys could be compromised. The Atlanta-based firm warned users not to import affected wallets’ backup phrases as they too may be compromised.
“Users should not attempt to move funds to new wallets by importing affected wallets’ twelve word backup phrases (which correspond to potentially compromised private keys). Users should first update their affected wallets (5.0.2-5.1.0) and then send all funds from affected wallets to a brand new wallet on version 5.2.0, using the Send Max feature to initiate transactions of all funds.”
BitPay found out about the malicious payload via a Copay GitHub issue report. According to comments on GitHub, the malware “was really sneaky, and only triggering the upload of the private keys for wallets that had genuinely over 100 BTC in there”. BitPay and its users were lucky this time but should be prepared for future attacks, according to GitHub user atomantic.
“Narrowly escaped a mass theft/liquidation event. Network egress monitoring would be good to add to automated tests if not already part of the build validation process.”
In April 2018, BitPay issued a warning of a trojan horse called Coinbitclip which has affected some purchases using Bitcoin processed by the payment service. The trojan did not infect any specific Bitcoin wallet or payment system, but individual Windows users only, similarly to most types of ransomware.
Image from Shutterstock
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Study Reveals Growing Sophistication in Malicious Mining of Cryptocurrency
n nn nn Several Chinese researchers from Fudan University, Tsinghua University and the University of California Riverside have produced the first systematic study of the malicious mining of cryptocurrencies, known as cryptojacking, unveiling increasing complexity over time. And it doesn’t seem as if this trend will die down anytime soon.What Is CryptojackingCryptojacking has asserted itself in the cybersphere as the valuation of the cryptocurrency sector soar
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Malicious YouTube Ads Secretly Used By Cryptojackers To Mine Cryptocurrencies
Cryptojackers have been hijacking YouTube ads to harness viewers computer processing power in order to mine digital currencies, in this case, Monero. The issue was reported by technology publication and science Ars Technica after people took to social media to report that antivirus programs had detected cryptocurrency malware on YouTube.
Attackers abused Google’s DoubleClick, which develops and provides internet ad serving services for traffic distribution. According to data from the Trend Micro Smart Protection Network, affected countries include Japan, France, Taiwan, Italy, and Spain. Google has now blocked the ads from being displayed on YouTube.
Unfortunately, most victims are unaware of what is going on – the process is carried out secretly without users having the opportunity to opt out. Even though a download isn’t required, hackers devised an approach where cryptojacking can continue even after users close the tab itself. And unfortunately, since it is a relatively new concept, hackers can innovate, changing their methods in an attempt to continue their devious plan.
90% of the time, the malicious adverts would launch a miner called Coinhive, and in the other 10% of cases a private web miner would be used. Each would covertly use up 80% of victims’ computer processing power for mining, resulting in the machine running much, much slower than normal. These recent ads have helped drive up the volume of cryptojacking incidents involving Coinhive by almost 285%.
“Mining cryptocurrency through ads is a relatively new form of abuse that violates our policies and one that we’ve been monitoring actively,” a Google spokesperson told The Independent. “We enforce our policies through a multi-layered detection system across our platforms which we update as new threats emerge. In this case, the ads were blocked in less than two hours and the malicious actors were quickly removed from our platforms.”
Despite these claims from Google that the process is “relatively new,” cryptojacking has become increasingly popular over the years — and YouTube’s ad problem was not an isolated incident. Research has shown that in the top 3 million websites, 2,500 are running a form of cryptojacking software, consuming users’ processing power without their knowledge or consent.
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Popular App Stores Targeted With Malicious Software
Valuable items will always attract criminals. Cryptocurrency is no exception. However, with a security model as strong as Bitcoin’s it’s very difficult to compromise individuals’ assets. It’s also likely that if a cyber criminal could indeed appropriate funds from random Bitcoin wallets, the value would drop hugely, rendering the whole endeavour pointless.
Rather than target individual wallet, therefore, hackers have turned to more devious tactics to get their hands of digital currencies, as well as personal information about those who hold them.
App stores explioted
An online threat management company called RiskIQ has been studying various app stores. Their researchers have discovered over 600 malicious applications with a cryptocurrency theme amongst Apple, Google Play, SameAPK, APKPlz, and other popular markets that people use to source applications for their devices. These apps have been officially blacklisted by cyber security vendors but remain available for download.
According to their research, RiskIQ have identified that almost 3% of applications with “Bitcoin Exchange” in their title were suspect. Meanwhile, 2.6% and 2.2% of apps with “Bitcoin Wallet” and “cryptocurrency” in the name were also blacklisted. Those behind the creation of such malicious applications hope to trick unsuspecting users into sending large sums of cryptocurrency, fiat currency, or even just personal data for the financial gain of the criminals involved.
Those stores with the most dangerous applications were Google Play with 272, APKFiles with 54, and 9Apps with 52. Fabian Libeau of RiskIQ gave advice to BetaNews to help keep anyone trying to find Bitcoin or digital currency-themed applications for their devices safe:
“We are seeing threat actors around the world exploiting what is already a hostile currency in a lawless digital world… Before handing over any cash or personal data, investors should carry out thorough research into the exchange and wallet apps they intend to use. By checking the developer’s name, user reviews and the number of app downloads, investors can measure the validity of an app and be more confident in their choice.”
Malicious software appears to be the latest effort from the cyber criminals of the world to get their hands on cryptocurrency through illegitimate means. Previously, exchanges and other centralised stores of digital currency have been targeted. There were a spate of attacks against Korean crypto exchange YouBit last year, eventually causing the company to declare bankruptcy. This was followed by hacking of cloud mining service NiceHash. Their security was compromised to the tune of million in December.
Image: PixaBay
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Malicious Bitmain Website Shows up in Facebook’s Advertisements
Cryptocurrency users have become a prone target for cybercriminals these nefarious individuals often target exchanges and digital wallets. However, it seems there is a malicious social media campaign related to a Bitmain phishing website as well. The site looks and feels like the real deal, but it is clearly a fake. Users need to be aware of these problems and remain vigilant at all times. Cryptocurrency mining is very popular and people aren’t always browsing the correct websites.
The number of phishing attacks against cryptocurrency users has grown significantly. Over the past few years, we have seen numerous attempts at causing financial damage. Exchanges and trading platforms will remain the main target right now. However, someone is trying to trick users into order mining equipment from a fake Bitmain website. Considering how the company is the world’s largest manufacturer of such hardware, it is only normal criminals try to mimic it.
Beware of Fake Bitmain Ads on Facebook
Anyone who gets caught up in this fake website will lose their money. Although it is unclear how many victims there, one Reddit user pointed this issue out to us. More specifically, he lost 0.33 BTC due to this fake Bitmain website. It seems the nefarious site uses a different spelling of the “n” in the Bitmain name. This also makes the domain name look more legitimate compared to using a slightly different company name. A very problematic development, and one that should not be allowed tot to take place.
Unlike previous phishing sites, the fake Bitmain isn’t found on Google. There are no paid search engine advertisements when looking for the company by name. Instead, it can only be found on Facebook. Given the popularity of social media, it is normal criminals will try their hand at this new method. No one knows for sure how long the ad has been running for, though. Moreover, it remains unclear if this ad targets users in specific countries.
All things considered, cryptocurrency users need to be more careful than ever before. Any platform or email can contain malicious ads for services which seem legitimate. Bitmain is the latest victim in the ongoing attack by cybercriminals against cryptocurrency enthusiasts. It is unfortunate sites like these are even approved by Facebook. Big companies often don’t have the right staff in place to remain ahead of these phishing sites. It will not be the last of its kind either.
Header image courtesy of Shutterstock
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Mixed Mining Arts? UFC Website Removes Malicious Crypto Code
It’s the latest large site seen to be running up site visitors CPU to crank out cryptocurrency.
CoinDesk