Monday December 16, 2019
Home Lead Story $571 Mn In Cr...

$571 Mn In Cryptocurrency Stolen By North Korean Hacker Group

The Lazarus cybercrime group launched a highly sophisticated Bitcoin-stealing phishing campaign -- HaoBao -- which targeted global financial organisations and Bitcoin users.

0
//
VPN
Although fears of a blanket block on services have not materialized, industry experts say VPN connections often face outages Pixabay

Amid growing crypto-jacking episodes, a North Korean hacking group called Lazarus has stolen cryptocurrencies worth more than half a billion dollars.

According to The Next Web that cited findings from the annual report of cybersecurity vendor Group-IB late on Friday, Lazarus was behind 14 hacking attacks on cryptocurrent exchanges since January 2017 — stealing $571 million.

Lazarus is a hacking group which has been linked to a string of attacks against everything from banks to government agencies across the world.

Hackers targeted cryptocurrency exchanges with spear phishing, social engineering, and malware.

Cryptocurrency
Experts: Cyber attacks Growing Increasingly Sophisticated. Pixabay

“Spear phishing remains the major vector of attack on corporate networks. For instance, fraudsters deliver malware under the cover of CV spam [with an attachment] that has a malware embedded in the document,” the findings showed.

Group-IB expects the number of targeted attacks on cryptocurrency exchanges to rise, and not just the ones from Lazarus.

Nearly 10 per cent of the total funds raised by Initial Coin Offering (ICO) platforms over the past year and a half have been stolen.

According to the report, large phishing groups are capable of stealing $1 million a month.

Fraudsters are even building fake websites using stolen cryptocurrency project descriptions and plagiarized white papers.

bitcoin-, Cryptocurrency
You cannot expect to rush into cryptocurrency trading and think you will make a huge
investment worth millions. Pixabay

“Fraudulent phishing-schemes involving crypto-brands will only get more complex as well as cybercriminals’ level of preparation for phishing attacks,” the group warned.

Security researchers have claimed that North Korea-based advanced persistent threat (APT) groups are increasingly attacking financial institutions and Bitcoin exchanges.

There were on average five new threat samples every second that resulted in a massive 629 per cent growth in cryptojacking and other cryptocurrency mining malware in the first quarter of 2018.

The coin miner malware grew a stunning 629 per cent to 2.9 million in the first quarter of 2018, from around 400,000 total known samples in Q4 2017, said a recent report from global cyber security firm McAfee.

Also Read: Is Investing in Bitcoin Safe? Get The Basics First

The Lazarus cybercrime group launched a highly sophisticated Bitcoin-stealing phishing campaign — HaoBao — which targeted global financial organisations and Bitcoin users.

When recipients open malicious email attachments, an implant would scan for Bitcoin activity and establishes an implant for persistent data gathering and crypto mining. (IANS)

Next Story

Americans Tend to Rely on Social Media for News which is often Unreliable: Report

Those who rely on social media and peers for news, on the other hand, don't see those platforms as reliable yet still choose to get their news from these sources

0
Social Media
The findings of a research suggest that perceived reliability is not the only factor that drives what Americans choose as their go-to News sources on Social Media. Pixabay

Owing to lack of time and competing demands, one-third of Americans rely on news platforms they acknowledge are less reliable, mainly social media and peers, says a new report.

The other two-thirds of the public consider their primary news sources trustworthy, mainly print news and broadcast television, according to the report from California-based non-profit RAND Corporation.

“A lack of time and competing demands may explain why a third of Americans turn to news sources they deem less reliable, which suggests improving the quality of news content or teaching people how to ‘better consume’ news isn’t enough to address ‘Truth Decay,'” said Jennifer Kavanagh, senior political scientist and co-author of the report.

“Media companies and other news providers may need to provide more easily accessible and digestible ways for individuals to consume high quality investigative journalism”.

“Truth Decay” is a phenomenon defined as diminishing reliance on facts, data and analysis in public life.

The report draws from a national survey of 2,543 Americans to examine how reliability, demographics and political partisanship factor into news choices and how often people seek out differing viewpoints in the news.

About 44 per cent of respondents reported that news is as reliable now as in the past, while 41 per cent said it has become less reliable and 15 per cent – mostly women, racial and ethnic minorities and those without college degrees – said it is more reliable.

Social Media
Owing to lack of time and competing demands, one-third of Americans rely on News platforms they acknowledge are less reliable, mainly Social Media and peers, says a new report. Pixabay

Respondents who lean on print and broadcast platforms were more likely to deem them reliable.

Those who rely on social media and peers for news, on the other hand, don’t see those platforms as reliable yet still choose to get their news from these sources.

“The findings suggest that perceived reliability is not the only factor that drives what Americans choose as their go-to news sources,” said Michael Pollard, a sociologist and lead author of the report.
“Despite acknowledging that there are more reliable sources for news, people with demands on their time may be limited to using less reliable platforms.”

Asked whether they ever seek out alternate viewpoints when catching up on the news, 54 per cent said they “sometimes” do, 20 percent said, “always or almost always,” 17 per cent said “infrequently,” and 9 percent said, “never or almost never.”

The report also identified the four most common combinations of news media types consumed by Americans: print publications and broadcast television, online, radio, and social media and peers.

Those who are college-educated were less likely to get their news from social media and peers, instead opting for radio and online sources.

Social Media
Media companies and other News providers may need to provide more easily accessible and digestible ways for individuals to consume high quality investigative journalism, especially on Social Media. Pixabay

Those with less than a college education were more likely to report “never or almost never” seeking out news with alternate viewpoints.

“Those who are married were three times more likely than singles to rate their peers as the most reliable source for news,” said the report.

ALSO READ: Here’s how you can Appear More Competent Through your Clothing

Unmarried people were more likely than married people to report they “always or almost always” seek out sources with differing views. (IANS)