What’s the connection between cybercrime and cryptocurrencies? Perhaps it would suffice to say that the reasons for criminals adopting the cryptocoin are quite obvious. But when did this all start, and what fuels it and gets fueled in return? This blog will go over some of the historical reasons that connect cybercrime and cryptocurrency as well as exa

Since it first appeared in 2009, the bitcoin network has grown significantly. The digital currency’s recent surge in value has sparked discussions within the security space about the benefits of blockchain, a technology that promotes the type of trust that is sorely lacking in some digital transactions. Today, people are exchanging real money for cryp

Users noticed a cryptocurrency miner surfaced on The Pirate Bay, the world’s largest torrenting for a day over the weekend. Pop quiz: would you rather A) see ad banners displayed at the top of the website, or B) mine Monero cryptocurrency when you visit a website? Judging by the number of downloads for ad blocking browser extensions, no one likes banner ads.

Hackers have exploited security weaknesses in SS7 protocol to break into a GMail account, take control of a bitcoin wallet and steal funds. In June 2016, researchers with Positive Technologies demonstrated that it is possible to hack Facebook accounts by knowing phone numbers by exploiting a flaw in the SS7 protocol. The technique allows bypassing any securi

Since we last reported on a version of the ELF Linux/Mirai malware containing cryptocurrency coin-mining tools in April, the IBM X-Force has noticed a steep increase in the volume of coin central processing unit (CPU) mining tools used in cyberattacks, specifically those targeting enterprise networks. According to IBM Managed Security Services (MSS) data,

Let us discuss what defines the profitability of bitcoin mining, what principles for mining speed adaptation were initially embedded into it, and why these principles can lead to the failure of the cryptocurrency in the long run. We assume that the reader has an idea of basic Bitcoin mechanics such as blockchains, mining, mining pools, and block rewards. Not

By Gilbert Sison and Janus Agcaoili Cerber ransomware has acquired the reputation of being one of the most rapidly evolving ransomware families to date. Just in May, we pointed out how it had gone through six separate versions with various differences in its routines. Several months later and it seems to have evolved again, this time adding cryptocurrency th

Greek Police arrested a Russian man and accused him of running the BTC-e Bitcoin exchange to launder more than US$4bn worth of the cryptocurrency. Greek Police have arrested the Russian national Alexander Vinnik (38) and they accuse the man of running the BTC-e Bitcoin exchange to launder more than US$4bn worth of the cryptocurrency. The police seized two la

Earlier this month, news broke that authorities had seized the Dark Web marketplace AlphaBay, an online black market that peddled everything from heroin to stolen identity and credit card data. But it wasn’t until today, when the U.S. Justice Department held a press conference to detail the AlphaBay takedown that the other shoe dropped: Police in The N

We all remember the devastating WannaCry ransomware attack that struck organizations around the world in May 2017. The attack spread at a rate of almost 3,600 computers per hour, or about one per second. When all was said and done, the ransomware infected more than 300,000 devices. Many victims simply paid the ransom to retrieve their locked files. This only

Bithumb, one of the world’s largest Bitcoin and Ether crypto currencies exchanges, has been hacked. Over $1 Million worth Bitcoin and Ether stolen. Bithumb, one of the world’s largest Bitcoin and Ether crypto currencies exchanges, has been hacked. The hackers have stolen more than $1 Million in crypto currencies from the accounts of several users

A new strain of ransomware dubbed “Petya” is worming its way around the world with alarming speed. The malware is spreading using a vulnerability in Microsoft Windows that the software giant patched in March 2017 — the same bug that was exploited by the recent and prolific WannaCry ransomware strain. The ransom note that gets displayed on s

After the WannaCry attack, no fewer than five threat research companies pounced on the fact that the ransomers were demanding to be paid in bitcoin. However, they completely glossed over the concept behind the malware itself. Within days, theorists came out of the woodwork to characterize the attack as some kind of subtle terrorist or government-backed opera

A new report proves the value of following the money in the fight against dodgy cybercrime services known as “booters” or “stressers” — virtual hired muscle that can be rented to knock nearly any website offline. Last fall, two 18-year-old Israeli men were arrested for allegedly running vDOS, perhaps the most successful booter s

On Friday, May 12, 2017, the world was alarmed to discover that cybercrime had achieved a new record. In a widespread ransomware attack that hit organizations in more than 100 countries within the span of 48 hours, the operators of malware known as WannaCry/WanaCrypt0r 2.0 are believed to have caused the biggest attack of its kind ever recorded. Perhaps more