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Hacking Drones Close to Being Drawn up by Boeing and Hacking Team

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Leaked emails between Italian spyware vendor Hacking Team and Boeing subsidiary Insitu revealed that drones carrying malware to infect targeted computers via Wi-Fi by flying over their proximity is close to becoming a reality.

Spyware-carrying drones were being discussed by Insitu, a division of Boeing and now-disgraced malware firm Hacking Team, according to leaked emails from the recent breach of the Italian company which have been posted on WikiLeaks, Engadget reported.

It was only the failure to come to terms over a non-disclosure agreement that kept Insitu and Hacking Team ‘teaming up’ together in order to create the malware infesting drone.

Early conversations took place regarding the inception and the possibility of a spy drone created by Boeing’s aircraft expertise, carrying malware that Hacking Team is notorious for. The concept was designing a drone capable of intercepting communications and hacking on-the-fly, via Wi-Fi. Discussions didn’t get far, however, when lawyers representing both companies couldn’t see eye-to-eye on a viable non-disclosure agreement.

Drone HackedThe Talks Behind the Flying, Hacking Drone

Initial discussions kicked off when Giuseppe Venneri, a mechanical engineering graduate from UC and internee at Insitu took notice of Hacking Team’s “Galileo”, a piece of hardware otherwise known as the Tactical Network Injector. This is essentially designed to infiltrate networks and insert the malicious code via Wi-Fi networks to launch man-in-the-middle attacks and other exploits.

Venneri wrote to Emad Shehata, Hacking Team’s key account manager, stating:

We see potential in integrating your Wi-Fi hacking capability into an airborne system and would be interested in starting a conversation with one of your engineers to go over, in more depth, the payload capabilities including the detailed size, weight, and power specs of your Galileo System.

Shehata replied by sending in the standard Hacking Team NDA, to which Venneri responded with Boeing’s own PIA (Proprietary Information Agreement) which the intern noted “must be signed before we engage with potential partners.”

“Signing our PIA (attached) will dramatically shorten the authorization process at our end,” Venneri added. “Let me know if you are willing to sign our document to engage in conversations with us.”

It was at this point when Hacking Team’s Chief Operating Office Giancarlo Russo stepped into the conversation, taking the authority and stating: “I saw your document and it will require additional legal verification from our side regarding the applicability of ITAR and other U.S. Law,” he said. “In my opinion, for a preliminary discussion our non-disclosure agreement should be sufficient to protect both companies and as you will see it is including mutual provision for both parties and it will make things easier and faster for us.”

Venneri’s response was short and succinct: “If you are unable to review/sign our form, know it will take some time on our side to seek approval from our Boeing parent. Are you willing to consider our form?”

Communications went quiet for about a month after this exchange and Venneri sent in another email on 11 May 2015: “We corresponded with you about a month ago and were unsure about the progress going forward with preliminary discussions regarding any future collaborations. If you could please reconsider our mutual PIA, know that the questionnaire at the beginning of the document is just for gathering information and has no impact on the PIA itself. We have lots of Non-US companies under our PIA. If you or your legal team have any requested changes to our PIA please don’t hesitate to add them in the attached document.”

This was the last known correspondence taken from the leaks which came from the data breach two months later in July 2015. All NDAs are have been rendered obsolete and ineffective due to the Hacking Team hack.

Images from Wikimedia Commons and 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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Ali is a freelance journalist, having 5 years of experience in web journalism and marketing. He contributes to various online publications. With a master degree, now he combines his passions for writing about internet security and technology. When he is not working, he loves traveling and playing games.




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12 Comments

12 Comments

  1. sphvn

    July 22, 2015 at 8:40 am

    This was the first purpose I thought drones would have.

    • Micheal Justin

      July 23, 2015 at 6:45 am

      there would be drone pizza delivery in the future, except people would shoot down the drones to get the pizza.

  2. Sunspot369

    July 22, 2015 at 11:23 am

    How sad humans are -here we have all this wonderful technology, and all we can seem to do with it is wage war. Oh well, the humans will be extinct soon, through climate disaster or unleashing the nukes, so I guess it doesn’t really matter any more, but the potential for so many to live wonderful lives has always been there if we weren’t so greedy and willing to screw over the person next to us.

  3. Eddie Smith

    July 22, 2015 at 12:29 pm

    This will present grounds for justification in blasting someones expensive drone out of the sky, it’s going to cause all kinds of problems which could result in draconian restrictions on drones.

    • Sunspot369

      July 22, 2015 at 1:39 pm

      We’ll see – it’s a multi-billion dollar, rapidly growing industry, and money is what’s more important.

    • JessicaEndi

      July 22, 2015 at 6:57 pm

      Well three things.

      First, it’s Boeing, not DJI. So you’re not going to be “blasting” anything out of the sky if it’s flying at 20,000′ and a couple hundred miles an hour.

      Second, I 100% guarantee that you are not interesting enough to be worth spying on.

      And third, anyone with a laptop and an hour to kill can already break into your network pretty easily.

      • Dogecoin

        July 22, 2015 at 8:25 pm

        What WiFi network is reachable from “20,000′ and a couple hundred miles an hour.” ??? I can barely connect from my bedroom to the den.

        • Malik Nawaz

          July 28, 2015 at 10:34 am

          Scenario that Isitu wants to create is to fly the drone to a targeted premises and hover over the roof top close enough to sniff target’s wifi connection. A sniffer with high gain antenna can capture wifi packets up to 50 meters distance, then send ARP attack and do man-in the-middle attack. Best is to use a WIPS sensor to disrupt drone frequency and bring it down or protect your own wifi. Shooting drones down is not the answer, its not logical.

      • Shawn Paul Neckelmann

        July 22, 2015 at 8:33 pm

        What WiFi is broadcasted 20,000′? An hour to break into your network?

        Sorry but you don’t know what you’re talking about.

      • Eddie Smith

        July 23, 2015 at 1:02 am

        Where did I claim to be doing any of these things? I just postulated a possible conflict, Jesus, turn the smarminess down a notch before you hurt yourself.

  4. god

    July 22, 2015 at 9:28 pm

    Boeing = Skynet. It’s here folks.

  5. Mic Justin

    July 23, 2015 at 6:43 am

    It’s gonna be cool when the southern states start passing laws allowing you to shotgun drones flying over your property.

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Cryptocurrencies

Crypto Pump and Dumps Have Generated $825 Million in Activity This Year: WSJ

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Price manipulation involving ‘pump and dump’ schemes are alive and well in the cryptocurrency market. According to new research by The Wall Street Journal, organized cryptocurrency groups have generated at least $825 million in trading activity over the past six months.

Pump Groups Thrive in Nascent Crypto Market

In a comprehensive review of trading data and online communications among crypto traders between January and July, WSJ identified 175 pump and dump schemes spanning 121 different coins. Among the 50 pumps with the biggest increase in price, nearly half had lost their value.

Among the dozen pump groups analyzed by WSJ, Big Pump Signal and its 74,000 Telegram followers have had the biggest impact on markets. The group engineered 26 pumps resulting in $222 million in trades.

Pump schemes have exploded over the past 18 months as initial coin offerings (ICOs) garnered mainstream attention. More than $12 billion has flowed into coin offerings since January 2017, according to ICOData.io, inviting a new form of speculation in markets that remain largely unregulated to this day.

Analysts say most pump and dumps following a similar pattern: the group announces a time and exchange for a pump; at the set time, traders execute the signal, creating a short-term buying frenzy; after a set time (usually a few minutes), the coin is sold for instant profit.

One of the biggest pumps in recent memory came in early July after Big Pump Signal commanded its followers to buy cloakcoin (CLOAK), an obscure cryptocurrency that purports to be “fully private, secure and untraceable.” After the call was made, CLOAK spiked 50% on Binance before plummeting more than 20% after two minutes.

Stopping the Fraud

Although the pump and dump is one of the oldest forms of market fraud, regulators have struggled to stem the practice. As WSJ reports, similar practices were banned in the 1930s, but that hasn’t stopped pump and dumps from proliferating at different points in history. Jordan Belfort, whose life was chronicled in the movie “Wolf of Wall Street,” pleaded guilty in 1999 for running pump and dumps costing investors more than $200 million.

The U.S. Securities and Exchange Commission (SEC) regularly deals with pump and dumps in the stock market, but has yet to bring a case involving cryptocurrencies. In the meantime, the U.S. Commodity Futures Trading Commission (CFTC) has offered a reward for anyone who warns the agency about potential pump and dump schemes involving cryptocurrencies.

“If you have original information that leads to a successful enforcement action that leads to monetary sanctions of $1 million or more, you could be eligible for a monetary award of between 10 percent and 30 percent,” a CFTC memo, released in February, read. That translates into a potential reward of at least $100,000.

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 547 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

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 547 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

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 36 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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