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Cybercrime Firm Warns of Rising Reports of Fake WannaCry Ransomware
Cybercrime involving cryptocurrencies is on the rise. Today, the U.K.’s national reporting center for fraud and cyber crime, Action Fraud, has issued warnings about a new phishing campaign using the infamous WannaCry ransomware.
Increase in Ransomware
Action Fraud claimed last Friday that it had already received 300 reports over the previous two days about the scam emails, which attempt to trick readers into believing they have an infected computer. The emails claim that users’ devices are hacked and that files will be deleted unless a fine is paid in Bitcoin. In reality, the emails are just a phishing exercise used to extort money from unknowing victims.
“The WannaCry emails are designed to cause panic and trick you into believing that your computer is infected with WannaCry ransomware,” Action Fraud said in an alert. “In reality the emails are just a phishing exercise to try and extort money. The emails claim that all of your devices were hacked and your files will be deleted unless you pay a fine to the fraudsters in Bitcoin.”
It was last May when reports surrounding WannaCry’s ransomware attacks first appeared. The attacks infected more than 250,000 computers in 150 countries. In the U.K., the attacks were widely publicized, having disrupted over 1/3 of National Health Service (NHS) Trusts as well as 600 independent practitioners, causing the cancellation of an estimated 19,000 appointments and operations.
Action Fraud has been called upon several times already to warn U.K. citizens of scams using WannaCry as bait — although most happened in the weeks following the initial outbreak. Other examples of attacks saw BT Group-branded phishing emails that urged users to click to confirm a security update apparently carried out by the communications giant to protect them following the initial attacks. Unfortunately, users were tricked.
“One victim fell for the scam after calling a ‘help’ number advertised on a pop-up window. The window which wouldn’t close said the victim had been affected by WannaCry Ransomware,” Action Fraud said. “The victim granted the fraudsters remote access to their PC after being convinced there wasn’t sufficient anti-virus protection. The fraudsters then installed Windows Malicious Software Removal Tool, which is actually free and took £320 as payment.”
Action Fraud offers several tips on how to protect oneself from attacks from WannaCry and similar ransomware:
“If you receive one of these emails, delete it and report it to us. Do not email the fraudsters or make the payment in Bitcoin. Additionally you should always update your Anti-Virus software and operating systems regularly and follow our advice on how to deal with ransomware.”
Crypto and Cybercrime
As NewsBTC reported in March, the largest category of cybercrime involving cryptocurrency so far in 2018 have been exchange-related (see Coincheck hack), which have accounted for up to 27% of attacks.
The second largest group of victims of cybercrime were regular people and businesses. According to the cybersecurity firm Carbon Black, these made up 21% of the total crimes involving cryptocurrency. The most common method used is ransomware like WannaCry, although there are others, like crypto-jacking (illegal coin mining).
According to Helge Husemann, product manager for internet security firm Malwarebytes, crypto-jacking as a form of cybercrime has been on the rise. Just last year YouTube experienced a threefold increase in illegal coin mining via malware-embedded ads.
He also noted that Showtime, Browsealoud, as well as U.K. government websites, and more, fell victim to illegal mining scams. Some of these went undetected for several months, netting the hackers behind the attacks hefty profits.
Husemann said that on average, Malwarebytes has been blocking eight million malicious mining attempts per day — equating to an astonishing 248 million per month.
“The illicit gains from illegal crypto-mining contribute to financing the criminal ecosystem, costing billions of dollars in losses and disruption of business services from compromised assets.”
Featured image from Shutterstock.
The post Cybercrime Firm Warns of Rising Reports of Fake WannaCry Ransomware appeared first on NewsBTC.
Barclays CEO Pushes Back Against Crypto Trading Desk Reports
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According to Unverified Reports, Twitter Is Following Facebook and Google in Banning Crypto-Related Ads
Twitter may soon join Facebook and Google in cracking down on ads for cryptocurrency-related products, according to Sky News. The claims (not yet verified by Twitter) are that the social network will institute a worldwide ban against ads for initial coin offerings (ICOs), cryptocurrency wallets, and token sales within the next two weeks. It might also ban ads for cryptocurrency exchanges with “some limited exceptions.”
This isn’t the first step that Twitter has taken to stop deceptive cryptocurrency scams: the company is currently in the process of taking down accounts that demand small amounts of a cryptocurrency under the guise of “verified” celebrity Twitter accounts.
While the tip didn’t specify Twitter’s exact reasoning, it’s likely to be the same as Facebook and Google’s — recently the two companies both banned most crypto-related ad content.
In January Facebook reported that it would begin prohibiting ads that promote financial products and services which are “frequently associated with misleading or deceptive promotional activities.”
And just last week Google had similar announcements: A section on Google’s website related to advertising policies and financial services specified that the search giant’s ban would cover ads for “cryptocurrencies and related content — including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice.”
Good Thing? Bad Thing?
Could the ban be a good thing? According to Forbes, the top cryptocurrencies — Bitcoin, Ethereum, Ripple, and Litecoin — are so well known that they don’t need advertising. Craig Cole from CryptoMaps told the news outlet: “While this isn’t the best news, it could be a good thing for cryptocurrency. The ban will help solidify the market and weed out scam coins and illegitimate actors looking to get rich quick, providing stability. This ban doesn’t mean that cryptocurrency is going away. I believe it will ultimately strengthen it.”
That said, if Google is an indicator, Twitter’s announcement could impact the markets, which reacted badly to the search giant’s news: in less than 24-hours over billion was shed and most altcoins lost over 20% of their value.
Another problem is that Twitter CEO Jack Dorsey does hold conflict roles, being that he is also the CEO of payment processor Square, who have recently been attempting to incorporate Bitcoin into their platform. This means that Dorsey’s “Twitter hat” may be leading him to pacify regulators and reduce crypto-hype; but Dorsey’s “Square hat” seems to be pushing him more into cryptocurrency territory.
Time will tell how accurate this this leaked information is. Twitter has yet to respond to inquiries.
The post According to Unverified Reports, Twitter Is Following Facebook and Google in Banning Crypto-Related Ads appeared first on NewsBTC.
carVertical Partners With BMW Group To Create First Ever Connected Reports
carVertical, the famous automotive blockchain startup, will be the first company ever to offer connected vehicle history reports. That comprises two of the following: live data streaming from connected cars, which is a hot topic nowadays, and vehicle history reports.
BMW Group was chosen as a partner for the pilot project. The Bavarian-based manufacturer has a solid base of connected vehicles already and, what is more important, is able to provide the infrastructure for efficient data exchange. The latter is compliant with European Union General Data Protection Regulation (GDPR).
Vehicles telling their own stories
The case is revolutionary in terms of data origin. carVertical vehicle history report, which traditionally would be comprised of data from state registries, workshops or insurance companies, now will be enriched with data coming straight from the vehicle. So, for example, there will be a possibility to get a proof of current odometer readings even without actually seeing the car.
The system works as follows: The vehicle generates data, including condition data, like mileage; usage-based data, such as average fuel consumption; and event data, like an automated service call. Some of this data is transmitted exclusively, in encrypted form, as so-called telematics data via the permanently installed SIM card to secure BMW servers. From there, with the consent of the customer, carVertical can access the encrypted data needed for vehicle history reports. Data security is always a top priority.
A BMW with a built-in SIM card is needed to make the system work. Around 8.5 million BMW vehicles currently meet this requirement.
Connected Future
carVertical’s move is a logical step towards diving into IoT business. Besides working with OEMs, the company aims to operate its own fleet of connected cars and is one more step towards the main goal of its own – decentralization and empowering their consumers.
A few months ago, the company announced a partnership deal with GPSWOX, a provider of global GPS tracking solutions. At the moment, carVertical tech team is working on the hardware specifications for its installation units.
The post carVertical Partners With BMW Group To Create First Ever Connected Reports appeared first on NewsBTC.