Hackers Cash In on ICOs Euphoria, $300M Stolen in 2017, Says Kaspersky
- The cyber attacks were unique in how they were so deliberately planned.
Russia-based computer security firm Kaspersky Lab today said the boom of cryptocurrency and the speculative frenzy over initial coin offerings (ICOs) are rife with cyber threats that would eventually leave unsuspecting investors at risk of large losses.
According to its latest report, the number of victims of ICOs robberies exceeded 60,000, with nearly $300 million worth of bitcoins were stolen. Last month, Kaspersky detected a new malware able to steal cryptocurrencies from users’ web wallets by replacing their address with that of its creator.
Kaspersky states that the attacks were unique in how they were so deliberately planned, and the sums stolen from digital wallets are ranging from a few hundreds of dollars to several thousands.
The ICOs, in which startups issue tokens in exchange for Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term to fund their ideas, have exploded in popularity this year thanks to Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term’s wild rally which is unstoppable these days. Last week the cryptocurrency price had risen by more than $3,000, and just today it has appreciated by the same amount in less than 24 hours.
According to industry reports, nearly $3.5 billion has been raised through the initial coin offerings in 2017, and of course that attracted the attention of cybercriminals.
The report goes on to say that that cryptocurrency holders should be especially careful because it is almost impossible to recover any stolen money. Not helping matters were previously known holes in several bitcoin exchanges, for which Kaspersky had issued patches, which made the hackers’ jobs easier.
Russia-based computer security firm Kaspersky Lab today said the boom of cryptocurrency and the speculative frenzy over initial coin offerings (ICOs) are rife with cyber threats that would eventually leave unsuspecting investors at risk of large losses.
According to its latest report, the number of victims of ICOs robberies exceeded 60,000, with nearly $300 million worth of bitcoins were stolen. Last month, Kaspersky detected a new malware able to steal cryptocurrencies from users’ web wallets by replacing their address with that of its creator.
Kaspersky states that the attacks were unique in how they were so deliberately planned, and the sums stolen from digital wallets are ranging from a few hundreds of dollars to several thousands.
The ICOs, in which startups issue tokens in exchange for Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term to fund their ideas, have exploded in popularity this year thanks to Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term’s wild rally which is unstoppable these days. Last week the cryptocurrency price had risen by more than $3,000, and just today it has appreciated by the same amount in less than 24 hours.
According to industry reports, nearly $3.5 billion has been raised through the initial coin offerings in 2017, and of course that attracted the attention of cybercriminals.
The report goes on to say that that cryptocurrency holders should be especially careful because it is almost impossible to recover any stolen money. Not helping matters were previously known holes in several bitcoin exchanges, for which Kaspersky had issued patches, which made the hackers’ jobs easier.