Hacker steals over $16 Million in Bitcoin via a wallet exploit

2020-8-31 17:26

In the latest crypto heist, hackers nabbed 1,400 bitcoins belonging to a long-time holder

Although it may appear that crypto crime has taken a bow over the past few months, it still remains active under the radar. Incidences of Bitcoin-related hacks haven’t been picked or reported by the media owing to the reduced frequency of big crypto exchange hacks.

As a result, crypto users might be fooled to think they are safe when, in reality, they are actually far from it. Hacks aren’t rare occurrences in the crypto space and the latest 1,400 bitcoin lift indeed confirms that.

The major incident before this heist was the Twitter accounts takeover that saw several high-profiles accounts being hacked. The hacks were reportedly a part of a fake Bitcoin giveaway scam.

How the heist unfolded

The victim, who is also a GitHub user by the name ‘1400BitcoinStolen’, shared the story on the platform.

The victim used Electrum software, unaware of the security update that the wallet introduced. Before moving the bitcoins to the account, the user got a message prompting him to update the software. Little did the user know this was just an exploitative scam.

By confirming the prompt message, the software contacted the hacker’s server. What followed was a rip off of 1,400 BTC from the user’s account into the hacker’s. A twitter user (and software engineer) by the name Ben Kaufman shared his views on this story in a thread when it was brought up on Twitter.

“Electrum is a light client, which means it must connect to the blockchain through a server, which by default is chosen from a list of public Electrum servers. Anyone can operate such a public server and some users will be randomly connected to it,” explained Kaufman.

It is unlikely that the Bitcoin holder will get the funds back, but some that have fallen victim to a similar trap in the past have been lucky. Nonetheless, this serves as a reminder to keep software up to date. Crypto users should also be careful when dealing with any crypto-related activities.

The post Hacker steals over $16 Million in Bitcoin via a wallet exploit appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Viacoin (VIA) на Currencies.ru

$ 0.248 (+1.13%)
Объем 24H $0
Изменеия 24h: 0.70 %, 7d: 3947.78 %
Cегодня L: $0.248 - H: $0.2527
Капитализация $0 Rank 7437
Цена в час новости $ 0.2627 (-5.6%)

via wallet hacker bitcoin exploit steals million

Источник: coinjournal.net

via wallet → Результатов: 126


Фото:

MyEtherWallet Announces Integration with DeFi Protocol Aave (LEND) and Ren (REN)

Open-source cryptocurrency wallet MyEtherWallet (MEW) integrates leading DeFi lending platform Aave (LEND) and blockchain interoperability protocol Ren (REN) into its ecosystem via MEWConnect. Laying the Blocks for Decentralized Economy via MEWconnect DeFi is all the rage today, and it shows no sign of slowing down anytime soon, perhaps for all the right reasons.

2020-8-13 16:07


Фото:

Binance Acquires Visa-Licensed Crypto Debit Card Platform Swipe In Bid To Bridge Crypto With Fiat

Today, the largest crypto exchange, Binance, announced that it has completed the acquisition of Swipe, crypto wallet app, and Visa-licensed debit card provider. The deal will see the two companies working together to boost the global adoption of cryptocurrencies by making it easy for end-users to make payments or purchases in digital assets via traditional […]

2020-7-8 18:42


Ryde Car-Pooling App in Singapore Adds Bitcoin Payment Support Via An Integrated Wallet

Ryde, a popular car-pooling service in Singapore, has become the first application of its kind to offer bitcoin payment support. In its announcement made on Wednesday, claimed that Ryde users would be able to deposit or top-up up to $899 in the Singaporian dollar, which would convert to the native Rydecoin without any conversion or […]

2020-6-20 22:45


Core Components of Institutional Wallet Infrastructure [Online Talk]

About this Event DATE & TIME Date: Friday, June 26, 2020 Time: 9h00-10h00 Mode: online talk via Zoom; Zoom dial-in URL will be sent previous to the online talk SPEAKERS Custodigit (Christian Bieri and Peter Hofmann) bitFlyer (Andy Bryant) Fireblocks (To be announced) METACO (Seamus Donoghue) AGENDA 9h00-9h05 – Introduction by Disrupt Network 9h05-9h15: Custodigit: The Swiss Digital Asset Bank […]

2020-6-11 18:49


Фото:

South Korean Giant Kakao Rolls Out Crypto Wallet App Klip

Klaytn, the blockchain platform developed by South Korean conglomerate Kakao, has just released a crypto wallet. The company announced the news via a Medium post published on Wednesday. According to the announcement, the wallet named Klip will support Klaytn’s native token KLAY and ten other Klaytn-based virtual ‘coins’ as well as numerous other non-fungible tokens […] The post South Korean Giant Kakao Rolls Out Crypto Wallet App Klip appeared first on BeInCrypto.

2020-6-4 21:06


Human Readability and Privacy: BCH Can Be Sent by Email With Tips Tool, No Usernames Required

Tips.Bitcoin.com allows users of crypto to tip BCH to friends and family via email address, arguably cutting out some of the inconvenience associated with standard bitcoin address formats. Unlike Coinbase Wallet’s new username option, which achieves similar ease for transactions, sending keys via email does not require a centralized database of usernames connected to crypto […] The post Human Readability and Privacy: BCH Can Be Sent by Email With Tips Tool, No Usernames Required appeared first on Bitcoin News.

2020-3-4 14:15


Фото:

MasterMana Botnet takes over your machine to empty your cryptocurrency wallet

Cybersecurity researchers have detailed a dangerous botnet specifically targeting businesses to steal sensitive data and cryptocurrency. Dubbed “MasterMana Botnet,” the ongoing campaign is believed to be connected to the “Gorgon Group,” a crew of cyberbaddies linked to worldwide criminal activity and repeated attacks on governments.

2019-10-2 19:57


Фото:

Bitcoin’s Lightning Network has security vulnerabilities that could cause loss of funds

Security vulnerabilities have been discovered in “various” Bitcoin Lightning Network projects that have potential to cause users to lose their cryptocurrency. Those running Lightning Network nodes have been advised to upgrade their clients as soon as possible, including those related to popular wallet solution Eclair.

2019-8-30 14:47


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Cathie Wood chooses Bitcoin over Ethereum, ‘Hands Down’

Cathie Wood of ARK Invest declares Bitcoin the top investment choice, highlighting its role as a global monetary system and its unstoppable growth. The post Cathie Wood chooses Bitcoin over Ethereum, ‘Hands Down’ appeared first on Crypto Briefing.