Breaches Feds To Charge Hackers Who Stole Merger Info Published 3 years ago on August 11, 2015 By Lester Coleman U.S. authorities are preparing to charge a group of traders and computer hackers for scheming to get early access to press releases about mergers and acquisitions and trade on them before they became public, The Wall Street Journal reported, citing unnamed sources familiar with the matter. The Securities and Exchange Commission (SEC) is also expected to unveil related civil charges as early as Tuesday. Federal prosecutors in Brooklyn and New Jersey will announce charges against more than a half-dozen people with securities fraud and other charges. Officials believe the scheme netted tens of millions of dollars in illicit profits. Financial Crimes Go Cyber The case demonstrates the growing connection between cyber theft and more traditional financial crimes, sources said. The hackers allegedly infiltrated news-wire services that publish press releases about mergers and acquisitions and obtained information about not-yet-announced deals, the sources said. The traders then used the information to make early trades, exploiting the window of time between releases being uploaded into the system and the public announcement of the information. The report said the identities of the individuals likely to be charged and the deals they traded on were not available. Insight Coming On Online Black Market The charges in the Brooklyn and New Jersey U.S. attorneys offices are expected to reveal information about the complex online black market. U.S. officials have increasingly warned that criminals are meeting in dark corners of the web to exchange criminal skill sets such as hacking and securities fraud. Even though cyberattacks have targeted information that could help investors gain an illegal advantage, former U.S. officials and security experts have rarely seen evidence of hacked information being used in suspicious trading. Also read: Illegal Marketplace and Cybercrime Forum Darkode Is Back Online Cross Agency Investigation Chairman White Sources said the charges stem from a cross-agency investigation involving at least six federal agencies. Jeh Johnson, U.S. secretary of homeland security, and SEC Chairman Mary Jo White will travel to New Jersey to announce the charges, sources said. In addition, Joseph Clancy, director of the Secret Service, and Diego Rodriguez, assistant director in charge of the New York field office of the FBI, are also expected to be present, along with Kelly Currie, acting Brooklyn U.S. attorney, and Paul Fishman, New Jersey U.S. attorney. The Department of Homeland Security, SEC, FBI, Secret Service and the offices of the U.S. Attorneys in Brooklyn and New Jersey all declined to comment. Images 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. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (0 votes, average: 0.00 out of 5)You need to be a registered member to rate this. Loading... Lester Coleman 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. Follow @HackedCom Feedback or Requests? Related Topics:fbiSecurities and Exchange CommissionU.S. Department of Homeland Security Up Next Facebook Awards $100,000 to White-Hat Hackers Don't Miss Carphone Warehouse Hack Leads to Data Breach of 2.4 Million Users You may like Bitcoin, Ether and Ripple Up in the Air as SEC Delivers a Sobering Reminder U.S. SEC Postpones VanEck-SolidX Bitcoin ETF Decision, Markets Sell Off SEC Chairman Again Declares ICOs to Be Securities as Thailand Champions New Crypto Laws VanEck Reignites Debate Over Bitcoin ETFs With Recent SEC Filing SEC Appoints Crypto Czar to Oversee Digital Assets and ICOs Ethereum Under Federal Scrutiny, According to WSJ Report 1 Comment 1 Comment Monk฿TC August 11, 2015 at 4:54 pm good for the nerds – too bad the real criminals have more power… woo woo – what about Hedge Funds and all their paying moles and the real insider trading going on daily on wall street – sure take it out on the fucking nerds, hackers and computer guys – assholes – get a real job – go after wall street. oh wait – those are your buddies… Log in to Reply You must be logged in to post a comment Login Leave a Reply Cancel replyYou must be logged in to post a comment. Altcoins Crypto-Security Testnet Surpasses Key Milestones Published 2 weeks ago on October 2, 2018 By Daniel Mitchell 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. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (3 votes, average: 4.33 out of 5)You need to be a registered member to rate this. Loading... Daniel Mitchell 4.5 stars on average, based on 12 rated posts Follow @HackedCom Feedback or Requests? Continue Reading Breaches MyEtherWallet Compromised in Security Breach; Users Urged to Move Tokens Published 3 months ago on July 10, 2018 By Sam Bourgi 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. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (2 votes, average: 5.00 out of 5)You need to be a registered member to rate this. Loading... Sam Bourgi 4.6 stars on average, based on 647 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. Follow @HackedCom Feedback or Requests? Continue Reading Breaches Mt. Gox vs. Bithumb: That Was Then, This Is Now Published 4 months ago on June 21, 2018 By Gerelyn Terzo 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. Video from that 6/19/11 flash crash (h/t @inthepixels) https://t.co/W3WWNIZUaM — Nick Tomaino (@NTmoney) June 19, 2018 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: Another day, another hack. Hopefully BitThumb is able to cover this amount, though $30MM is not a small amount. As I've said many times, be smart and only keep on exchange coins that you are actively trading. It's best to withdraw right after trading. https://t.co/8YpVcHx8tK — Charlie Lee [LTC⚡] (@SatoshiLite) June 20, 2018 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. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (0 votes, average: 0.00 out of 5)You need to be a registered member to rate this. Loading... Gerelyn Terzo 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. Follow @HackedCom Feedback or Requests? 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