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Ashley Madison Confirms Legitimate Data Was Exposed; Clients And Investigators Scramble

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Avid Life Media, the parent company of the Ashley Madison website for married people seeking affairs, confirmed that some legitimate data has appeared on the Internet following last month’s widely-reported hack, according to Reuters.

ashleymadison1

Hackers posted almost 10 gigabytes worth of data, including member account details, logins and payment transaction details on the dark web, according to Wired.

Emails sent to Noel Biderman, founder and chief executive officer of Avid Life Media, were part of a second, larger data dump, cyber security experts confirmed Thursday, Reuters reported. A message accompanying the release said:

Hey Noel, you can admit it’s real now

a riposte to the company’s initial response to Tuesday’s dump that the data may not be authentic.

On Wednesday, Avid Life Media said no current or past members’ full credit card numbers were compromised. “Any statements to the contrary are false. Avid Life Media has never stored members’ full credit card numbers,” the company stated.

Avid Life Media Investigates Breach

Avid Life Media said it had launched an investigation utilizing security professionals to determine the origin, nature, and scope of this incident.

“We apologize for this unprovoked and criminal intrusion into our customers’ information,” the site said. “The current business world has proven to be one in which no company’s online assets are safe from cyber-vandalism, with Avid Life Media being only the latest among many companies to have been attacked, despite investing in the latest privacy and security technologies.”

We have always had the confidentiality of our customers’ information foremost in our minds, and have had stringent security measures in place, including working with leading IT vendors from around the world. As other companies have experienced, these security measures have unfortunately not prevented this attack to our system.

Avid Life Media said it is working with Cycura, a Toronto-based security firm, to determine the origin, nature, and scope of this incident.

Clients, Lawyers And Investigators Scurry

Meanwhile, the disclosure sparked a frenzy as users of the website tried to search for their names and those of partners, according to The Wall Street Journal. Lawyers were searching for evidence for divorce cases. And a British florist offered a discount on “apology flowers.”

Data includes members’ names, addresses and phone numbers, though it’s not clear if members provided legitimate details, according to Wired. The data also includes descriptions of what members were seeking.

Government investigators have warned hacking victims not to comply with hackers’ demands since it will only embolden future attackers.

One problem, however, is “you’re putting your trust in someone who is inherently untrustworthy,” said Andre McGregor, a former special agent with the Federal Bureau of Investigation and currently director of security at Tanium Inc., a San Francisco Bay Area cybersecurity company, speaking with The Wall Street Journal.

Did Avid Life Media Do Enough?

Lisa Sotto, a partner at Hunton & Williams LLP, a Richmond, Va.-based law firm that focuses on privacy and cybersecurity risks, told the Wall Street Journal that Avid Life Media could have done more to reach out to users who were at risk.

“The extortion hack that affected cheating website Ashley Madison has shown society that hackers do not just steal financial information to make money, they can steal secrets and any data that is considered valuable to extort money out of them,” Sotto stated on her company’s website. “things are only going to get worse..[C]ompanies and individuals paying, because they potentially have no choice.”

Dave Kennedy, chief executive at security firm TrustedSec, combed through the files posted online and found documents that he said seemed legitimate on Avid Life Media’s computer systems.

Also read: Hacking Team promises new security measures following 400 GB data breach

Database Dump Appears Legitimate

“The hackers called ‘Impact Team’ stated that if Ashley Madison didn’t shut down, it would expose the databases and information hacked from the popular online cheating site,” TrustedSec noted in a blog posting. “Today it appears that promise came true and Ashley Madison did not buckle or shut down.”

The database dump appears to be legitimate and contains usernames, passwords, credit card data (last four), street addresses, full names, and much much more. It also contains an extensive amount of internal data which looks like the hackers had maintained access to their environment for a long period of time.

Featured image from Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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3.9 stars on average, based on 8 rated postsLester Coleman is a veteran business journalist based in the United States. He has covered the payments industry for several years and is available for writing assignments.




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Altcoins

Crypto-Security Testnet Surpasses Key Milestones

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Security and has been combined with micro-compucomputing are a combination which ascended to greatly relevant, both economically and financially, since the early days of commercial internet technology, the John McAfee associated era of anti-virus software, and fears of ‘millennium-bug’ (‘Y2K’)-induced societal meltdowns.

As a market player, ‘cybersecurity‘ is hailed for its continuedvalue and growth, with recent implementations advancing in tandem with technological development. With ‘blockchain’ having become a key buzzword in recent years, it comes as little surprise that digital security providers have been attempting to identify and provide protection against cryptocurrency related scams.

Examples of these include ‘malware‘ AKA ‘malicious software’. They are often created with the aim of illicitly subvert the processing power of the victim’s device for use towards the mining of cryptocurrencies, or lock and potentially delete highly sensitive data (such as Ransomware’).

Cybersecurity and Blockchain

Crypto attacks can affect almost any person or institution: from private wallets and exchanges, to cryptocurrency operators, and even sometimes unsuspecting users of internet browsers with no relation to blockchain based services.

In an article published at CCN in August 2018, I wrote about the large prolificity and news coverage of cyber-attacks carried out against cryptocurrency organisations: with a majority of them involving the theft of high-value quantities of tokens or sensitive data.

Key points raised in the piece include the identification of wallets and exchanges as high-value targets for potential thieves, as well as a discussion surrounding a study of over 1000 participants in which none of the top exchanges were “lauded for security”.

As cybersecurity has been exposed as a fatal flaw in the unauthorised access / theft access of finances and data, it has also drawn a spotlight on the various methods employed by the companies which suffer these attacks.

Middleware, Wear and Tear

Some teams attempt to protect their data and finances through the creation and implementation of their own proprietary cybersecurity solutions whilst others seek the tender of others,

‘Middleware’ is nothing new and has long been utilised as a means of implementing third-party solutions as a means of shifting professional a legislative liability regarding essential functions of a brand technology.

It’s a creation by third party product / service providers that sits between external and internal code in order to facilitate functions or protections.

Decentralized Security Testnet

REMME is a project harnessing blockchain technology to create a distributed cybersecurity solution for enterprises.

Its now-released testnet has already demonstrated the efficacy of storing hashed Public Key Infrastructure certificates on the blockchain, and with 300 pilot program participants signed up, REMME isn’t short of applicants eager to trial its distributed identity and access management solution.

‘Distributed Identity and Access management’ (IAMd) and ‘Public Key Infrastructure’ requests (PKId) count amongst two of the primary features of the proprietary REMChain testchain network infrastructure. Both claims of which have come from CEO Alex Momot, who additionally praised “The interoperability of the public blockchain and sidechains”.

Additional features include the ‘REMchain block explorer’ – ‘node monitoring’ (connected to five nodes worldwide) – REMME WebAuth demo application.

While a pilot program reportedly attracting over 300 global enterprise applicants, REMME feels confident about the future of their long terms plans: which include full integration existing enterprise systems (ERP, CRM, Accounting software etc.).

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Breaches

MyEtherWallet Compromised in Security Breach; Users Urged to Move Tokens

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Popular cryptocurrency service MyEtherWallet (MEW) is urging users to move their tokens after the platform succumbed to its second cyber attack of the year. As the company reported earlier, hackers targeted MEW’s popular VPN service in an attempt to steal cryptocurrency.

Hola VPN Users Compromised

Rather than target MEW directly, hackers took control of the Hola VPN service, which claims nearly 50 million users. For the next five hours, MEW users who had the Hola chrome extension installed and running on their computer were exposed.

MEW took to Twitter to urge users to move their funds immediately.

“Urgent! If you have Hola chrome extension installed and used MEW within the last 24 hrs, please transfer your funds immediately to a brand new account!” the company said. It added the following message shortly thereafter:”We received a report that suggest Hola chrome extension was hacked for approximately 5 hrs and the attack was logging your activity on MEW.”

At the time of writing, MEW’s Twitter feed had no further updates.

MyEtherWallet is used to access cryptocurrency wallets, where users can send and receive tokens from other people.

The company reportedly told TechCrunch that the attack originated from a Russian-based IP address.

“The safety and security of MEW users is our priority. We’d like to remind our users that we do not hold their personal data, including passwords so they can be assured that the hackers would not get their hands on that information if they have not interacted with the Hola chrome extension in the past day,” MEW said, as quoted by TechCrunch.

It’s not yet clear how many users were compromised in the attack or how much, if any, was stolen from their wallets. MEW suffered a similar incident in February after a DNS attack wiped out $365,000 worth of cryptocurrency from users’ accounts.

Cyber Attacks on the Rise

The attack on MEW came less than 24 hours after Hacked reported another major cyber breach involving Bancor, a decentralized cryptocurrency exchange. The security breach compromised roughly $23.5 million worth of digital currency, including Ethereum, NPXS and BNT, Bancor’s native token.

Last month, a pair of South Korean exchanges fell prey to cyber criminals, prompting local regulators to expedite their approval of new cryptocurrency laws.

It has been estimated that a total of $761 million has been stolen from cryptocurrency exchanges in the first half of the year, up from $266 million in all of 2017. That figure is expected to rise to $1.5 billion this year.

CipherTrace, the company behind the estimates, told Reuters last week that stolen cryptocurrencies are mainly used to launder money and aid criminals in concealing their identities.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 648 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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Mt. Gox vs. Bithumb: That Was Then, This Is Now

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Bithumb now shares something in common with the Tokyo-based shuttered bitcoin exchange Mt. Gox — both suffered a hack on about the same date, June 19. It’s a club that no exchange wants to belong to and that Bithumb happened on the seven-year anniversary of Mt. Gox’s maiden attack has to be more than an eerie coincidence.

It’s a stark reminder of the risks involved with keeping funds on an unregulated exchange, vulnerabilities that cost South Korea’s Bithumb some $36.6 million in digital cash and Mt. Gox $450 million in hacked bitcoin and its future. The Mt. Gox theft unfolded over a series of hacks that culminated in 2014. Though it’s still early on in the Bithumb hack, it appears the South Korean exchange will recover from the security breach. So what do we know now that we didn’t on June 19, 2011?

Then vs. Now

Former Coinbase official Nick Tomaino, who is also the founder of crypto fund 1 confirmation, reflected on the Mt. Gox hack in what proved to be a prescient tweet given the Bithumb attack that was about to surface.

The thing to note about Mt. Gox is that the Japan-based exchange in 2011 controlled most of the BTC trading volume, approximately three-quarters of it by average estimates — more if you ask Tomaino. Since bitcoin fever caught on in 2017, there are more than 500 cryptocurrency exchanges on which trading volume is shared. Binance boasts the highest trading volume and captures nearly 15% of bitcoin trading. It’s much less than Mt. Gox days but still a little high.

The other thing to note is that the Mt. Gox hack or actually hacks, as there were multiple attacks on the exchange over several years, was a mysterious event that was shrouded in controversy and mistrust of a key executive. Bithumb, on the other hand, confronted the hack seemingly right away on Twitter and has not let any grass grow under its feet in the interim, which is a key difference in the way Mt. Gox was handled.

Also, the bitcoin price didn’t tank in response to the Bithumb hack. It traded lower for a while, but less than 24 hours it was back in the green, which is a reflection of the fact that bitcoin trading is no longer dependent on a single exchange.

Charlie Lee, creator of Litecoin (LTC), the No. 6 cryptocurrency by market cap, was among the first to respond to the Bithumb hack. He tweeted:

Indeed, Bithumb does expect to be able to cover the losses via their reserves.

Crypto Security

It’s still early on in Bithumb’s security breach, and more details are sure to emerge in time. In the meantime, it’s a good idea to use the hack as an opportunity to examine the security of your cryptocurrency investment portfolio. There are several hardware wallet options out there for you to choose from — whether it’s Trezor or Ledger Nano S, to name a couple — and as Charlie Lee advised, “only keep on exchange coins that you are actively trading.”

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 69 rated postsGerelyn has been covering ICOs and the cryptocurrency market since mid-2017. She's also reported on fintech more broadly in addition to asset management, having previously specialized in institutional investing. She owns some BTC and ETH.




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