Posted on

Trump vs Bitcoin, Japanese Exchange Hacked | Coffee and Crypto

In the premiere episode of the new Cointelegraph series “Coffee and Crypto,” Olivia Capozzalo and Molly Jane Zuckerman discussed the latest news in the crypto industry.

In the premiere episode of the new Cointelegraph series “Coffee and Crypto,” head of editorial Olivia Capozzalo and head of news Molly Jane Zuckerman discussed the latest news in the cryptocurrency industry.

Latest news in the cryptocurrency industry

In the video, Capozzalo and Zuckerman discuss United States President Donald Trump criticizing Bitcoin (BTC) and Facebook’s Libra stablecoin, the European Central Bank’s recent statements about Bitcoin, and whether BTC is a currency. Zuckerman also talked about the hack of Japanese exchange Bitpoint, which yesterday published the breakdown of crypto assets stolen in the 3 billion yen (~$27.8 million) hack of its platform earlier this month. 

Capozzalo spoke about an American computer scientist that has managed to mine Bitcoin on a 52-year-old Apollo guidance computer. Those are the very same computers that were used to navigate the first moon landings by the National Aeronautics and Space Administration in the 1960s.

Cointelegraph’s head of editorial shared a story about how she first learned about cryptocurrencies in 2013, but wasn’t a fan initially.

“I felt like Trump,” Capozzalo said, in reference to the president’s recent tweets about crypto. 

As Cointelegraph reported earlier this month, Donald Trump voiced his opposition to cryptocurrencies as a whole, citing Bitcoin and Libra specifically. He stated that he is “not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”

Posted on

0x DEX Protocol Suspended Because of Vulnerability, Funds Safe

The Ethereum smart contract of 0x decentralized exchange protocol has been suspended after the discovery of a vulnerability in its code.

The Ethereum (ETH) smart contract of 0x (ZRX) decentralized exchange (DEX) protocol has been suspended after a vulnerability has been uncovered in its code, the project’s team announced in a Medium post published on July 13.

Per the announcement, third-party security researcher samczsun warned the 0x team about the vulnerability in the exchange smart contract and, after evaluating it, the team suspended the exchange’s contract and the AssetProxy contracts.

The vulnerability would have allowed an attacker to fill certain orders with invalid signatures. The announcement reassures that one has exploited this vulnerability and no users have lost their funds. The only consequence is apparently a temporary suspension of the service:

“Unfortunately, this also means the currently deployed 0x contracts cannot process trades and are unable to be used. A patched version of the Exchange contract — that we are confident fixes this vulnerability — and new AssetProxy contracts are being deployed to the Ethereum mainnet and we expect them to be ready to use later tonight.”

Lastly, the team notes that the vulnerability is not contained in its ZRX token contract and that user funds are safe. They thanked the security researchers while inviting other white hat hackers to participate in 0x’s bug bounty program:

“We also want to extend our sincerest gratitude to samczsun. We continue to offer a generous bug bounty to white hat hackers and community members that identify potential vulnerabilities. ”

As Cointelegraph reported in October last year, ZRX was the first ERC20 token to be listed on the Coinbase cryptocurrency exchange.

At the beginning of May, the Tron Foundation disclosed a fixed vulnerability that could have crashed its blockchain.

Posted on

US Blockchain Investor Terpin Awarded Over $75 Million in SIM Swapping Case

United States-Based investor Michael Terpin won $75.8 million in a civil case against 21-year-old Nicholas Truglia, who allegedly defrauded him of crypto assets.

United States blockchain and crypto investor Michael Terpin has won $75.8 million in a civil case against 21-year-old Nicholas Truglia, who reportedly defrauded him of crypto assets. Reuters reported the news on May 10.

Per the report, the California Superior Court last week ordered Manhattan resident Truglia to pay the amount above in compensatory and punitive damages. The amount is reportedly one of the largest court judgments awarded to an individual in the crypto space thus far, Reuters notes.

As previously reported, Terpin filed the complaint against Truglia in particular in late December, after first filing a lawsuit against AT&T last August. Terpin accused the firm of negligence that allegedly allowed the suspect to gain control over Terpin’s phone number and steal almost $24 million worth of crypto.

Truglia and other participants allegedly took control over Terpin’s tokens by transferring his phone number under their control, resetting passwords and accessing his online accounts. Truglia was reportedly arrested in November for stealing $1 million in crypto also via SIM swapping.

As Cointelegraph reported yesterday, the U.S. Department of Justice released a fifteen-count indictment on May 9 that charges a hacking group labeled “The Community” with SIM swapping in order to steal cryptocurrencies.

Posted on

Malware Shellbot is Now Capable of Shutting Down Other Miners

Cryptojacking malware Shellbot is now armed with new capabilities.

The Shellbot cryptojacking malware has gone through an update and come out with some new capabilities, technology news website TechCrunch reported on May 1.

Per the report, these findings come from Boston-based cybersecurity firm Threat Stack. The company claims that Shellbot, which was first discovered in 2005, has received a major update.

The original Shellbot was capable of brute-forcing the credentials of SSH remote access services on Linux servers protected by weak passwords. The malware then mines privacy-focused monero (XMR). Threat Stack claims that this new-and-improved version is capable of spreading through an infected network and shutting down other miners running on the same machines.

Threat Stack apparently uncovered the new iteration of Shellbot on the Linux server of an unspecified United States company. While it is still unclear how the malware is delivered, the researchers identified three components and found the script used to install it.

The command and control server of the malware is an Internet Relay Chat (IRC) server, which attackers can use to deliver commands and check the status of an infected server. Shellbot was reportedly making about $300 a day, a figure that stands to grow as the malware spreads. Sam Bisbee, chief security officer at Threat Stack, told TechCrunch that the potential of the virus does not end there:

“They are fully capable of using this malware to exfiltrate, ransom, or destroy data.”

As Cointelegraph reported last week, cybersecurity company MalwareBytes declared illicit crypto mining  against consumers — also known as cryptojacking — “essentially extinct.”

Just days later, American software security firm Symantec found a spike in a new crypto mining malware that mainly targets corporate networks.

Posted on

Man Accused of Stealing Over $9 Million Worth of Dash Indicted in Israel

An indictment has been filed against Afek Zard in Israel over the alleged theft of 74.990.74 Dash from his roommate.

An indictment has been filed against Afek Zard in Israel over the alleged theft of 74.990.74 Dash (over $9 million) from his roommate, local media News1 reports on April 18.

According to CoinMarketCap data, the amount of coins stolen is equivalent to over 0.85% of the total circulating supply of Dash. News1 states that the reported victim, Alexei Yaromenko, was reportedly an early cryptocurrency investor who has accumulated crypto assets since 2013.

Yarmolenko reportedly taught Zard about cryptocurrencies and trading them himself before the theft allegedly took place. Per the indictment document filed by attorney Giora Hazan, Zard was in possession of a key to Yaromenko’s apartment and had access to the residence in Yaromenko’s absence.

Per the report, the coins were present in Yaromenko’s wallet until March 1, when Dash was worth $82.5 per unit. The prosecutors claim that at the beginning of the month, the defendant used the alleged victim’s computer to steal the credentials to the crypto wallets.

At this point, Zard reportedly stole the contents of Yarkomenko’s wallets — either himself or with the help of unspecified others — and sent them to four of his own wallets. Lastly, the report specifies that Zard is accused of theft in aggravated circumstances, money laundering and penetration of a computer to commit an offense.

As Cointelegraph recently reported, the Manhattan district attorney has indicted a group of individuals with allegedly selling drugs and laundering millions of dollars with bitcoin (BTC).

Also, at the beginning of the current month, a 33-year old Danish man has been sentenced to four years and three months in jail for laundering over $450,000 in bitcoin.

Posted on

Crypto Exchange Bithumb Reportedly Hacked

According to crypto exchange Bithumb, the exchange detected unusual withdrawal activity.

Today, March 30, crypto exchange Bithumb posted on Twitter that their cryptocurrency withdrawals and deposits have temporarily been paused.

In an explanation linked to the tweet, the exchange writes that at 10:15 (time zone unknown) on the 29th, they detected what they describe as abnormal withdrawals through their monitoring system.

The exchange continues that they have “secured all the cryptocurrency from the detection time with a cold wallet and checked them by blocking deposit and withdrawal service.”

According to the translated note, the incident was an “accident involving insiders” and they are conducting investigations with security companies, the cyber police agency, and KISA.

A tweet from crypto user Dovey Wan wrote that more than 3 million EOS has been transferred at Bithumb’s cold storage level, but this is unconfirmed.

Cointelegraph will update this story as it continues.