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Breaches

Despite Denial, Uber Users Complaining of Hacked Accounts

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About a week ago, Motherboard reported that Uber accounts were being sold en masse on Dark Net Markets for $1 to $5. Uber has since denied the claim, but numerous complaints have surfaced on Twitter, and elsewhere that impostors had been using legitimate accounts to utilize the global, semi-peer-to-peer taxi service.

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In one case, Mike Crossley of London had been billed around three thousand British pounds for rides he never took. While still denying that there had ever been a breach, Uber has agreed to refund the 35-year-old record producer, according to Business Insider.

Payment Information Required During Registration

uberWhether there has been a breach of Uber servers or not, a fact which would surprise no one, the fact that Uber requires users to enter their payment information and store it with them during the registration process is a major part of the problem. Unlike other app-based services which require your payment information when actually making a purchase and offer to save the details, Uber wants your credit card or Paypal or Google Wallet authorization from the first minute you install the application. This makes them responsible for said data, and this might be a large contributing factor to their reluctance to admitting a server breach.

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1-uber

Large-scale user account dumps have become routine in the age of the Internet. Retailers are a favored target because they often associate payment details with user accounts. In the case of Uber, not only could a user scam a free ride via purchasing a hacked account on a dark net market, but they could potentially scam the company by actually utilizing the services of a friend whom they split the take with. Crossley, for instance, noted that luxury services were often hired with his account.

Also read: 50,000 Drivers Compromised by Uber Data Breach

Regular Occurrence

Other users in London have been having similar issues, as seen below:

1-uber-2

And London, in general, seems to have a lot of troubles with Uber:

1-uber-3

Price is Not the Only Consideration

These recent problems Uber has been having, in addition to other flak the company has taken due to the personality of its founder, billionaire Travis Kalanick, seem not to dissuade its many patrons. The high cost of cab fare in some regions is a great contributor.

In London, for instance, a trip from Heathrow to Buckingham Palace will cost around £73.91 via conventional taxicab, whereas the economy option on Uber would cost a little more than half of that. But with the cab, you could simply pay cash and not have to worry about your card information being stolen, which can be far costlier. You also wouldn’t have to put your faith in a company that regularly is the subject of intense government investigation and has more than once had customers severely assaulted at the hands of its employees. Thus, price should not be the only consideration when deciding how to travel across town.

Uber Still Not Confessing to a Breach

Uber has repeatedly denied that its servers have been breached, and this could be simply because such breaches went undetected. It could also mean that the account hacks are commencing by other means, but it is unlikely that so many would be available by other means.

As seen below, dark net vendors are still actively trafficking in hacked Uber accounts:

Alpha Bay Dark Net Market Screenshot

Images courtesy of Shutterstock and phm.link.

Update

Uber representative Trina Smith contacted us about this story, saying:

We investigated and found no evidence of a breach. Attempting to fraudulently access or sell accounts is illegal and we notified the authorities about this report. This is a good opportunity to remind people to use strong and unique usernames and passwords and to avoid reusing the same credentials across multiple sites and services.

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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5 stars on average, based on 2 rated postsP. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link




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2 Comments

  1. chuckied97

    April 5, 2015 at 10:34 am

    Uber is too expensive to have all of these Bulls#it issues..id rather just hail a yellow or use a car service

  2. sunbeamrapier

    October 27, 2015 at 1:45 pm

    I got hacked yesterday. I’m in sydney and the ride was in New York – Jersey. US$579.21. I watched the car on the map in the Uber app on my phone for nearly 3 hours. Uber have no phone numbers and they don’t advertise their support email addresses either – so all I could do was watch and wait until the charge appeared on my Paypal account.

    You can message the driver – and I did, 3 times. But he ignored the messages or didn’t get them.

    36 hours later and Uber have suspended my account, but otherwise I have heard nothing. Paypal are trying to debit my account for nearly A$900 (but I had the bank put a stop on it) and I am just waiting to see whether Uber will respond.

    I only used Uber twice. I won’t use them again

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Breaches

Coincheck Hackers Launder 40% of Stolen NEM Funds, Experts Say

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The hackers behind Coincheck’s massive NEM heist have successfully offloaded 40% of the stolen funds, according to new research by Tokyo-based consultancy group L Plus. The successful money laundering campaign highlights the ongoing challenges authorities face in bringing cyber criminals to justice.

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Hackers Launder NEM

Analysts at L Plus believe that roughly 200 million NEM tokens, worth $79 million, have already been laundered through the dark web. However, the hackers likely pocketed a much smaller amount amid ongoing efforts to blacklist the tokens.

Nikkei Asian Review reported Monday that Coincheck was targeted with “suspicious traffic” for weeks leading up to the Jan. 26 heist. Citing a person close to the investigation, Nikkei said the attackers hacked an employee email and stole a private key needed to transfer the NEM tokens to the desired accounts. L Plus indicated that the attacker must have repeatedly accessed the Coincheck server to obtain the private key.

When the hack took place, the stolen NEM tokens were worth more than $400 million. Today, they are worth less than half that amount. The identity of the attackers remains unknown to this day. However, authorities have speculated that North Korea may have been responsible for the attack.

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Coincheck plans to resume operations this week following a government-mandated freeze on all trading activity.

Japan Boosts Oversight

The attack has prompted Japan’s financial regulators to step up their oversight efforts of the cryptocurrency market. Last week, regulators penalized seven exchanges after deeming their internal controls insufficient to deal with a cyber attack.

Japan’s Financial Services Agency (FSA) slapped two exchanges – FSHO and Bit Station – with month-long suspensions. The remaining five exchanges – Bicrements, Coincheck, GMO Coin, Mr. Exchange and Tech Bureau – were given business improvement orders.

The FSA began conducting on-site inspections in late January following the Coincheck attack. Regulators have uncovered several issues, including a lack of customer protection measures and insufficient anti-money laundering controls.

Japan remains one of the most welcoming jurisdictions for cryptocurrency trading, but repeated attacks may prompt regulators to reconsider their relatively lax approach. Digital currency exchanges in Japan and elsewhere face a growing threat from cyber criminals looking to capitalize on the rising value of digital assets.

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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4.5 stars on average, based on 410 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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Breaches

Skepticism Grows Over BitGrail’s Supposed $167 Million Hack

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A relatively unknown cryptocurrency exchange by the name of BitGrail has informed its users of a coordinated cyber attack targeting Nano (XRB) tokens. However, the incident does not appear to be holding up to scrutiny after the founder of the exchange made an odd request to the developers of Nano shortly after discovering the alleged theft.

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BitGrail Exchange Allegedly Compromised

The Italian exchange issued a notice to its clients last week informing them that 17 million XRB tokens were compromised in a cyber attack. The XRB token, formerly known known as Raiblocks, is valued at $9.80 at the time of writing for a total market cap of $1.3 billion. That puts the total monetary loss of the supposed heist at nearly $167 million.

Parts of the notice have been translated into English from the original Italian by Tech Crunch, a media company dedicated to startups and technology news. According to the agency,  BitGrail has stated the following:

“… Internal checks revealed unauthorized transactions which led to a 17 million Nano shortfall, an amount forming part of the wallet managed by BitGrail… Today a charge about those fraudulent activities has been submitted to the competent authorities and now is under police investigation.”

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The notice indicated that all transactions have been put on hold until authorities complete their investigation.

Very little is known about BitGrail, as it is not listed among the 183 exchanges whose volume is ranked by CoinMarketCap.

Suspicion Grows

Unlike other crypto heists, the circumstances surrounding the alleged BitGrail attack have been met with widespread suspicion. As David Z. Morris of Fortune rightly notes, this isn’t the first time BitGrail has suspended Nano withdrawals. The same thing happened in early January when the exchange halted not only Nano, but Lisk and CryptoForecast transactions as well.

The suspension was followed by an announcement that the exchange was taking measured steps to verify users and enforce anti-money laundering requirements. It was around this time that users became suspicious that BitGrail was going to cut and run with their tokens.

BitGrail founder Francesco Firano made an unusual request to the developers of Nano following the alleged attack: he asked them to fork their record, a move that would essentially restore the stolen funds.

Nano officially rejected the request on Friday, the day after Firano supposedly discovered the stolen coins. In a post that appeared on the Nano Medium page, the team said:

“We now have sufficient reason to believe that Firano has been misleading the Nano Core Team and the community regarding the solvency of the BitGrail exchange for a significant period of time.”

Last month, hackers made off with more than $400 million worth of NEM tokens stolen from Coincheck, a Japan-based cryptocurrency exchange. The coins have yet to be recovered and the perpetrators remain at large. In 2014, a cyber heist brought down Mt Gox, which was the world’s largest exchange.

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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4.5 stars on average, based on 410 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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Breaches

Coincheck Hackers Are Trying to Sell Their Stolen NEM Coins

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The hackers behind the biggest crypto heist of all time are attempting to sell their stolen coins, according to an executive at the NEM Foundation. The revelations are the latest in a four-day saga that has authorities still struggling to identify perpetrators or locate the account in receipt of the stolen funds.

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Hackers Try to Profit

Jeff McDonald, Vice President of the NEM Foundation, said Tuesday that his organization had traced stolen XEM coins to an unidentified address. It was here that the thief tried to unload the stolen funds onto six online exchanges for the purpose of selling them. McDonald said the exchanges have since been notified.

It was not immediately apparent how many of the stolen coins were spent or even the whereabouts of the account. A spokeswoman at the NEM Foundation later said the attacker sent the cryptocurrency to several random accounts in 100-token increments.

Last Friday, the attackers made off with more than $400 million worth of NEM tokens from Japanese cryptocurrency exchange Coincheck. The monetary value of the heist has fluctuated several times over the past four days, reflecting regular price moves in NEM’s native XEM token. However, Coincheck said it would reimburse account holders at a rate of 81 U.S. cents per token, which reflects the average price between Jan. 26 and 27.

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Coincheck has been fined administrative penalties for failing to secure client funds. It was later revealed by the executive management team that the exchange failed to implement basic security features, such as multi-signature capability and cold storage. Rather, the XEM tokens were held in accounts connected to the internet.

Although the NEM Foundation is trying to prevent the liquidation of stolen funds, MacDonald said the attackers will likely get away with some of the money. However, the likelihood that they spend all of it is virtually zero given the market’s underlying liquidity constraints.

NEM Price Volatility

News of the heist on Friday triggered significant volatility in the price of XEM and the broader cryptocurrency market. Following a brief recovery, XEM has declined steadily over the past three days, with prices reaching new six-week lows on Tuesday. The coin touched a session low of 79 cents on volumes of more than $32 million. At press time, the coin was worth a little more than 80 cents.

Even with the decline, NEM held on to tenth spot in the global cryptocurrency rankings based on market cap. The coin’s overall value remains well north of $7 billion, according to CCN.

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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4.5 stars on average, based on 410 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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