An Elaborate Darknet Phishing Scam Is the Top Google Result for Basic Bitcoin Tutorials

  • As far as online scams designed to steal money and information go, a site called darknetmarkets.org is very impressive and equally scary—not least because Google is currently serving it as a top search result for Bitcoin for all intents and purposes, is a “real” website.
  • A sidebar contains links to the “top” sites to buy drugs on the darknet.
  • CompariTech, a site that reviews and compares information security products, spotted the scam first and wrote up a blog post laying out their findings on Wednesday.
  • Motherboard independently verified that several links on the site take users to sites that appear legitimate but have different URLs than the real versions and are stylistically out of date.
  • Munson speculated that the site may be getting linked to by legitimate sites that don’t realize it’s a phishing scam, which may lead to the site being valued by Google’s search algorithm.

“This is probably the best phishing scam I’ve ever seen.”
Continue reading “An Elaborate Darknet Phishing Scam Is the Top Google Result for Basic Bitcoin Tutorials”

An Elaborate Darknet Phishing Scam Is the Top Google Result for Basic Bitcoin Tutorials

  • As far as online scams designed to steal money and information go, a site called darknetmarkets.org is very impressive and equally scary—not least because Google is currently serving it as a top search result for Bitcoin for all intents and purposes, is a “real” website.
  • A sidebar contains links to the “top” sites to buy drugs on the darknet.
  • CompariTech, a site that reviews and compares information security products, spotted the scam first and wrote up a blog post laying out their findings on Wednesday.
  • Motherboard independently verified that several links on the site take users to sites that appear legitimate but have different URLs than the real versions and are stylistically out of date.
  • Munson speculated that the site may be getting linked to by legitimate sites that don’t realize it’s a phishing scam, which may lead to the site being valued by Google’s search algorithm.

“This is probably the best phishing scam I’ve ever seen.”
Continue reading “An Elaborate Darknet Phishing Scam Is the Top Google Result for Basic Bitcoin Tutorials”

‘THIS IS NOT A DRILL:’ A Hacker Allegedly Stole $32 Million in Ethereum

[NEWS] THIS IS NOT A DRILL: A Hacker Allegedly Stole $32 Million in #Ethereum

  • According to a post by Parity founder Gavin Wood in the official chat channel for Parity, an ethereum client, a “critical” vulnerability in Parity led to at least three accounts being compromised by a hacker for a total loss of $31,725,019 USD worth of ether.
  • Specifically, Wood wrote, the vulnerability affected the contract used to create multi-signature ethereum wallets in Parity 1.5, the latest release.
  • There are ongoing efforts to secure funds in other potentially vulnerable wallets, Wood wrote, but those folks “will make an announcement in their own time.”
  • In other words, there may be other wallets affected by the hack than the three cited by Wood, but it’s not yet clear which were cleaned out by thieves, and which had their funds funneled out by good-guy hackers who may return them later.
  • As for a fix, Wood wrote in the Parity chat that the team will be releasing a fix “ASAP,” but in the meantime advised users with multi-signature wallets created with Parity to move their funds to a secure address.

It’s the second alleged hack this week.
Continue reading “‘THIS IS NOT A DRILL:’ A Hacker Allegedly Stole $32 Million in Ethereum”

‘THIS IS NOT A DRILL:’ A Hacker Allegedly Stole $32 Million in Ethereum

'THIS IS NOT A DRILL:' A hacker allegedly stole $32 Million in ethereum:

  • According to a post by Parity founder Gavin Wood in the official chat channel for Parity, an ethereum client, a “critical” vulnerability in Parity led to at least three accounts being compromised by a hacker for a total loss of $31,725,019 USD worth of ether.
  • Specifically, Wood wrote, the vulnerability affected the contract used to create multi-signature ethereum wallets in Parity 1.5, the latest release.
  • There are ongoing efforts to secure funds in other potentially vulnerable wallets, Wood wrote, but those folks “will make an announcement in their own time.”
  • In other words, there may be other wallets affected by the hack than the three cited by Wood, but it’s not yet clear which were cleaned out by thieves, and which had their funds funneled out by good-guy hackers who may return them later.
  • As for a fix, Wood wrote in the Parity chat that the team will be releasing a fix “ASAP,” but in the meantime advised users with multi-signature wallets created with Parity to move their funds to a secure address.

It’s the second alleged hack this week.
Continue reading “‘THIS IS NOT A DRILL:’ A Hacker Allegedly Stole $32 Million in Ethereum”

GPU Makers Are Now Specifically Targeting Ethereum And Bitcoin Miners

GPU makers are now specifically marketing to bitcoin and ethereum miners

  • But traditional graphics cards are not especially well-suited to the cryptocurrency mining gold rush.
  • The solution may well be on the way, in the form of graphics cards made specifically for cryptocurrency miners.
  • There are now two such cards listed on the website of PC component maker ASUS: the MINING GP106-6G and the MINING RX470-4G.
  • The product page claims that the GP106-6G, “enhances the megahash rate by up to 36% compared cards in the same segment that are not tailored for mining.”
  • AMD’s graphics cards have long been the preferred choice for cryptocurrency miners.

A pair of ASUS cards with few or no display outputs and heavy-duty cooling may be just what the miners are after.
Continue reading “GPU Makers Are Now Specifically Targeting Ethereum And Bitcoin Miners”

Here’s How Traders Lost Millions in the First Ethereum Flash Crash

Traders lost millions in the first ethereum flash crash

  • Markets for ether, the cryptocurrency linked to the ethereum distributed computing platform, were rocked yesterday by a huge flash crash that saw prices fall from over $365 down to as low as 10 cents on one exchange before bouncing back shortly afterwards—an event that is mildly worrying for anyone concerned about cryptocurrency volatility, but has had devastating consequences for some professional traders who have seen their holdings wiped out.
  • The crash occurred at about 3:30pm ET Thursday, when a huge sale of ether was made on the GDAX exchange, an extension of the popular Coinbase exchange and cryptocurrency wallet geared towards professional traders.
  • According to the support documents on the site, GDAX offered margin traders up to 3x leverage for the USD/ETH trading pair, meaning that someone with only a $1,000 account balance could buy or sell up to $3,000 of ether.
  • But as a precautionary measure, margin trading accounts are set to automatically liquidate in order to make up the money borrowed (i.e. sell all ether as quickly as possible) if losses exceeded a certain amount, a process called “margin calling.”
  • With the crash happening so fast, traders were margin called almost instantly, and in some cases saw their entire holdings sold off at very low prices before they could react—selling, say, 100 ETH at $2 to cover just a few hundred dollars’ loss, right before the market bounced back to almost $300/ETH again.

The price of ether fell to as low as 10 cents on one exchange, and the wider cryptocurrency community still in shock.
Continue reading “Here’s How Traders Lost Millions in the First Ethereum Flash Crash”

Washington Bill Would Make It Illegal to Pay for Weed With Bitcoin

  • State Senators Steve Conway and Ann Rivers proposed a bill to prohibit local cannabis businesses from buying or selling products using bitcoin. “
  • If the CARERS Act had passed, it would have reconciled banking issues in the state legal cannabis industry.
  • A marijuana producer, marijuana processor, or retail outlet must not pay with or accept virtual currency for the purchase or sale of marijuana or any marijuana product,” according to the bill, in which “virtual currency” also includes digital currency.
  • Cannabis may be among the country’s fastest growing industries, but its status as a Schedule I controlled substance under federal law poses an inconvenient discrepancy with more liberal state policies.
  • Proposals in Congress, such as the CARERS Act have sought to fix the banking issue, among other things, like rescheduling cannabis altogether.

Another chapter in the pot industry’s saga regarding federal banking issues.
Continue reading “Washington Bill Would Make It Illegal to Pay for Weed With Bitcoin”