Binance, one of the largest cryptocurrency exchanges by daily trade volume, has experienced a major security breach on May 7, according to a statement shared with Cointelegraph on May 7. Per Binance, hackers employed a variety of tactics including phishing and viruses to obtain a large number of 2FA codes and API keys in addition to other information. According to the exchange, there was one affected transaction, wherein hackers were able to withdraw 7,000 bitcoins (BTC) worth $40,705,000 at press time. In a letter on Binance’s website, CEO Changpeng Zhao states that the bitcoins were withdrawn from its hot wallets, …

Users of cryptocurrency wallets Electrum and MyEtherWallet are currently facing phishing attacks, according to posts published on Reddit and Twitter on Feb. 4. A phishing attack is an attempt to obtain sensitive data like users’ personal or banking information by illicit means, wherein an attacker is disguised as a trusted entity and sends a user a message or an email containing a malicious link. Once clicked, the link asks the user to enter their personal data or initiates the installation of malware. On Feb. 4, the team behind MyEtherWallet tweeted a warning about a phishing email that was sent to …

A link to a phishing LocalBitcoins clone website had been placed on the official LocalBitcoins forum, but the attack has since been stopped. A LocalBitcoins community manager warned of the attack on Reddit on Jan. 26. According to the post, an unidentified hacker or hacker group detected a security vulnerability in the LocalBitcoins forum and linked it to a phishing forum. Even before the official communication, a Reddit user warned in a post on the Bitcoin (BTC) subreddit: “When visiting the localbitcoins forum [...] users are prompted to log into their account, as if they have been logged out. This …

The value of Ethereum (ETH) stolen via scams reached $36 million 2018, according to a report released by crypto analytics company Chainalysis on Jan. 23. According to the Chainalysis report, scams that occurred last year were reportedly more sophisticated, bigger and vastly more lucrative. Chainalysis also reports that Ethereum has “long been known as the cryptocurrency of choice for scams.” Chainalysis reports that the value of stolen funds more than doubled in 2018, compared to the $17 million in ETH obtained through scams in 2017. The increase in profits occurred despite the fact that the number of scams declined compared …

A suspected scam which threatens to blow up buildings unless recipients pay a Bitcoin (BTC) ransom caught the attention of the United States’ government Dec. 13. The scam, which centers on anonymous emails demanding payment of $20,000 in Bitcoin or face a “mercenary” detonating a device in “your building,” has appeared throughout the world. Now, the U.S. National Cybersecurity and Communications Integration Center (NCCIC) opted to release dedicated advice to victims, advising the only action necessary on receipt of an email was to inform the FBI. The NCCIC is “aware of a worldwide email campaign targeting businesses and organizations with …

My wallet has been hacked. Help! Since it’s already happened there is not much you can do. Imagine that you’re entering your wallet and seeing no coins and several transactions to unfamiliar addresses. That likely means you’ve been hacked. Due to the anonymous nature of cryptocurrency ‘ownership’ is determined by whoever holds the codes for it. So if it’s gone - in majority cases - it’s gone. You may track the address of the last wallet but it will give you nothing. Notify the company - it's possible you are not the only one - and review your wallet and …

OmiseGo, the e-wallet platform created by Omise, is set to launch its Airdrop in the last quarter of 2017. Omise released an announcement for an automatic airdrop of tokens beginning on Monday, Sept. 4. OmiseGo Airdop excitement opened up phishing opportunity The Airdrop is said to take a week before it finishes, or may take a little more time depending on the Ethereum status and bulk of traffic. A 0.1 minimum threshold is set to be received by individuals, the said threshold can be more, however, and shall be proportionate to their Ethereum shares. The official statement from OmiseGo verified …

Phishing attacks are nothing new on the internet. While most are relatively amateurish (the African Princess) some are quite well put together and will fool most people if you are not paying attention. Phishing incidents have been happening more and more frequently in the virtual coin industry and the latest group targeted seems to be customers of BitPay, one of the largest cryptocurrency payment platforms in the world. image: Bitpay via Imgur Different companies react differently to events like this, but BitPay is already stepping up to the plate with a public statement to Cointelegraph about what happened and where …

A Coinbase user with the pseudonym “shubh” has published a post in his blog describing what he calls a “major security flaw”. After reddit exploded with comments and reposts developers made their official statement on the issue, insisting that this is a feature rather than a flaw. Spam tactics The original problem that shubh’s report covers is that the service allows generation of unlimited money request emails, which come together with email address/ user enumeration on Coinbase. These issues lead to the disclosure of Coinbase account data. However, according to the activist, the root of all evil is the lack …