Dec 07, · Now, we have seen a glimpse of the more troubling side of the technology, as an attack on a major mining marketplace has resulted in almost $64 million worth of bitcoin being stolen. Feb 16, · Bitcoin plus the lesser currencies that compete with it amount to a $ billion asset pile, a tempting target for bad guys. From bitcoin’s earliest days, hacks, cracks, hijacks, phishes, vishes. Dec 07, · (Reuters) - A Slovenian cryptocurrency mining marketplace, NiceHash, said it lost about $64 million worth of bitcoin in a hack of its payment system, the latest incident to highlight risks that.
Bitcoin hacked 64 millionHackers Steal $64 Million in Bitcoin from Crypto-Mining Marketplace - TheStreet
On Nov. However, occurrences like this and the hacks of Mt Gox and Bitstamp are stark reminders of the inherent risks of entrusting your assets in the hands of centralized organizations. Beware of exchange system glitches. Recently Zimbabweans have been embracing change and Bitcoin has been the crisis currency of choice for the country.
But there are also reports that Bitcoin traders in Zimbabwe have experienced a setback due to a technical glitch suffered by trading platform Golix, which is failing to process or cancel orders. More of What's Trending on TheStreet :. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. I agree to TheMaven's Terms and Policy. By Martin Baccardax. By Vidhi Choudhary. By Joseph Woelfel. It was a race against time to stop a group of cyber-bandits.
To steal millions of dollars in virtual cash that Terpin, a pioneer in the field of cryptocurrency, had amassed and stashed online. Within 30 or so minutes, as Terpin frantically searched through some 50 crypto accounts to confirm they were secure, the thieves struck gold on one that he had yet to check. Terpin was the victim of a cutting-edge scam known as SIM swapping. Usually, the scam victimizes those who own Bitcoin and other cryptocurrency. Difficult to tax or trace, crypto has become the payment of choice for kidnappers, drug dealers, smugglers and gamblers.
The hackers were able to cobble the code together once they hijacked his phone and wormed into his email — both of which were shockingly easy to do. One of the thieves then contacted Google and claimed to have forgotten his Gmail code.
They changed the code, freezing Terpin out. Forty-eight hours later, said Terpin, the thieves had laundered the crypto and presumably divvied up their haul. Truglia, who grew up in New Jersey, was, at the time of the hit, a registered student at Baruch College.
At the same time, Nick showed me two thumb drives. Several years ago, cool social media handles became hot commodities, said Erin West, a cyber-savvy deputy district attorney in Santa Clara County, Calif. They deployed the SIM swapping technique, perfecting it as they focused on taking over Twitter and Instagram accounts just as they would one day commandeer online wallets.
The most popular social media names were the so-called OG handles — A or evil or — so simple, they had to have been staked as soon as social media took off. Sometime around , cyber-account crackers upped their game and began pillaging digital fortunes.
Technologically, it was an easy leap. I would bet my life on it, actually. But the area encompassed dozens of city blocks.
Most every online business records the number when it has contact with a customer. Tarazi and his team discovered that Ortiz lived with his mother in a modest Boston home, about a mile and a half from Harvard. They busted him at Los Angeles International Airport.
He was easy to spot, dressed head-to-toe in Gucci. By the time Tarazi and his team finished interrogating Ortiz, the straight-A student was in tears, said the investigator. Since the start of , five crypto bandits — all ages 18 to 26 — have been arrested, said Tarazi, who believes dozens more remain at large.
Truglia is the latest to be brought down. Terpin is wrong, and we have asked the court to dismiss his complaint. Read Next. AOC riles pundits for defending Omar with Holocaust quote.