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Russian President Putin: DNC Hack? Wasn’t Us.

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In a telling interview that covered a broad list of topics before the upcoming G20 gathering in China, Russian President Vladimir Putin has swept aside all accusations of Russia’s alleged involvement in the high-profile hacks targeting the U.S. Democratic party.

If you have been paying attention during the run-up toward this year’s U.S. presidential elections, an unprecedented and intriguing element has been added to the churning pot of politics. Never before has the topic of cybersecurity been of such relevance to the political hoopla. Hillary Clinton’s use of a private email server during her days as the secretary of state continues to hang over the Democratic presidential nominee as a dark cloud.

More recently, the Democratic National Committee (DNC) has been inundated with a series of breaches that has proved to be embarrassing for the political party. First, there was the case of presidential rival and Republican nominee Donald Trump’s dossier, complied by the DNC, stolen by hackers. That was followed up with a leak of another dossier, this time belonging to Hillary Clinton, leaked by unknown hackers.

Cybersecurity

Then came the DNC email leak, a collection of nearly 20,000 emails and over 8,000 attachments which showed favoritism toward Hillary Clinton over other Democratic presidential hopefuls.

United States intelligence officials, political campaign chiefs, law enforcement agencies like the FBI, cybersecurity experts tasked with the investigation of the spate of recent breaches targeting the Democratic National Committee (DNC), are all pointing the finger east, at Russia.

For instance, Hillary Clinton campaign manager Robby Mook recently stated:

What’s disturbing to us is that experts are telling us that Russian state actors broke into the DNC, stole these emails…other experts are now saying that the Russians are releasing these emails for the purpose of actually helping Donald Trump…That’s disturbing.

While the overall narrative from the west is overwhelmingly leaning to the possibility that Russian state-sponsored hackers are behind the breaches, Russian president Putin is having none of it.

“No, I don’t know anything about it,” he said, incredulously, in an interview with Bloomberg. Putin also opined that it would highly improbable to track down the hackers behind the breaches, as he spoke about the effective ease in which hackers operate from the shadows.

They act so delicately and precisely that they can leave their mark — or even the mark of others — at the necessary time and place, camouflaging their activities as that of other hackers from other territories or countries. It’s an extremely difficult thing to check, if it’s even possible to check. At any rate, we definitely don’t do this at a state level.

Brushing aside such allegations, he even stated that the focus of the breach shouldn’t be on the who, but on the what of the breach.

“Does it even matter who hacked this data. The important thing is that the content was given to the public,” he stated.

He further said that the hunt for the perpetrators of the breach was distracting the public from the real underlying revelations of the stolen emails.

“There’s no need to distract the public’s attention from the essence of the problem by raising some minor issues connected with the search for who did it,” he said, before stating in no uncertain terms:

But I want to tell you again, I don’t know anything about it, and on a state level, Russia has never done this.

Some U.S. officials have stated that Russia is attempting to influence the outcome of the upcoming presidential elections in November. Putin poured cold water over such allegations again.

We have never interfered, are not interfering and do not intent to interfere in [US] domestic politics.

 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.

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4 stars on average, based on 1 rated postsSamburaj is the contributing editor at Hacked and keeps tabs on science, technology and cyber security.




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Bitcoin

Bitcoin Network Faced One-Two Punch of Inflation and DoS Threats

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Bitcoin Core has emerged seemingly unscathed from a major vulnerability that threatened to shut down parts of the network in a denial-of-service (DoS) attack. But apparently, the bug was even worse than originally thought. According to a Bitcoin Core Full Disclosure Report, the issue included an “inflation vulnerability,” one in which if seized upon could have bolstered the supply of bitcoin beyond the famous 21 million coin ceiling. By pouring more coins into the supply, the hackers would have diminished the value of the circulating bitcoins.

The decision to expose only the lesser extreme part of the bug to the public was deliberate. According to the report:

“In order to encourage rapid upgrades, the decision was made to immediately patch and disclose the less serious Denial of Service vulnerability, concurrently with reaching out to miners, businesses, and other affected systems while delaying publication of the full issue to give times for systems to upgrade. On September 20th a post in a public forum reported the full impact and although it was quickly retracted the claim was further circulated.”

Double-Edged Sword

The strategy was a success and the bug is no longer a threat, as evidenced by more than 50% of the bitcoin mining hashrate having been upgraded to the patched nodes with no known attempts to “exploit this vulnerability.”

Here’s what we know, according to the report –

“A developer by the title earlz independently discovered and reported the vulnerability to the Bitcoin Core security contact email.”

Meanwhile, on social media, a contributor identified as a Bitcoin Cash developer who goes by the handle “Awemany” was cheered on Reddit for discovering and reporting the bug and cementing their place in “bitcoin’s history book.” Awemany in a blog post pointed to bitcoin developer Matt Corallo, whose 2016 pull request in an attempt to accelerate validation times led to what Awemany characterized as “one of the most catastrophic bugs in Bitcoin ever.”

The bottom line is that the bug was discovered and the threat has been lifted. It’s both a reminder of the risks associated with the consensus mechanism and a demonstration of good faith among the decision makers.

While it’s mostly the future of ETH that has been contemplated of late, given the plummeting of the No. 2 cryptocurrency’s value this year along with the confidence of investors, bitcoin has its own issues. In an exclusive interview with CCN, Sheffield Clark, who is at the helm of bitcoin ATM maker Coinsource, pointed to potentially “stagnant” mainstream adoption of bitcoin amid a lack of regulatory framework to help resolve issues like extreme volatility.

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 62 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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Cyberespionage

North Korea is now Targeting Crypto Users with Macs

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AppleJeus Malware Hack

The Lazarus group has earned quite a reputation for themselves in cyber-security circles.

This group of North Korean hackers have been responsible for some of the most well known intrusions in the past few years. For example, they were behind the Sony Pictures hack in 2014, the Bangladesh central bank heist in 2016 and the Wannacry ransomware outbreak in 2017.

It is safe to say that these are quite effective operators.

However, with the popularity of cryptocurrencies, the Lazarus group has changed their attack vectors and are targeting every day users with Malware.

The latest report now has the hackers using MacOS malware to hoover up information from those cryptocurrency users who work on Macbooks.

“AppleJeus”

This was the first time that the Lazarus group has developed malware to target Mac users. Indeed, Mac operating systems are far less susceptible to Malware than Windows based systems.

It was a surprise for researchers at Kaspersky Lab to have learned about the latest Lazarus attempt to target users with there macOS malware. They have labelled it “AppleJeus”.

This was first spotted on machines that were being used by cryptocurrency company in Asia. Indeed, this is no coincidence as the Lazarus group has often targeted cryptocurrency related businesses and exchanges in South Korea.

How Does it Work?

AppleJeus hides itself inside the code of a seemingly legitimate piece of cryptocurrency trading software called Celas Trade Pro. The user will download the app from the website of the developer. When it is first downloaded, there are no signs that anything could be off. The app appears to operate normally.

Celas Trade Screenshot

Screenshot of Celas Trade, the offending program. Source: kaspersky labs

Once the app is installed on the device, it will request to update the software. This sort of request is present in authentic software and as such will not trigger any alerts. However, there is malicious code that is inside of this update.

The moment that the update is installed, it will scan the computer and gather as much information as possible. This will then be sent back the hacker’s server so that they can make a decision on whether the person is worth attacking.

If they think that there is valuable information (or cryptocurrency) on the machine then they will instruct the software to install a trojan called “Fallchill”. For those who do not know, Trojans are malicious malware that will install a “backdoor” into the machine

Fallchill is a particularly robust trojan and can gather a great deal of information from the machine. This includes data such as financial information, login credentials and of course, information about cryptocurrency trading accounts.

Once the hackers have this personal information, they can either access your online accounts or they can conduct other spear phishing attacks against you. It is indeed a troubling development and according to Vitaly Kamluk of Kaspersky:

“For macOS users this case is a wakeup call, especially if they use their Macs to perform operations with cryptocurrencies”

So now that you know North Korea is actively trying to get their hands on your cryptocurrency, how do you protect yourself?

Keeping Safe from AppleJeus

The most effetive way to protect yourself from this Malware is to make sure that you only download software that is well known and reputable. This of course goes without saying but it is far too often that relatively inexperienced cryptocurrency traders will avoid doing their research.

The researchers have recommended that people and businesses do not download the software of Celas Trade. Even though they appear to have a a good reputation and verified digital certificates, this cannot be fully trusted.

You should also consider investing in some effective anti-malware software that you should use to scan all files that you have downloaded. This should be done even if you trust the source because hackers have been known to infiltrate trusted websites.

Cryptocurrency Security 101

Even if you are unlucky enough to have your machine infected with crypto grabbing malware, basic crypto security best practices will still protect you.

If you do a great deal of online trading with your cryptocurrency then it is essential that you secure your accounts with 2 factor authentication. This way, you are at least able to reduce the number of attack vectors.

You should always secure your large cryptocurrency holdings in hardware wallet. This is because the wallets operate external from the machine and hence the trojan cannot read your private key information.

Caution and a healthy does of scepticism will protect you from the an unhealthy does of AppleJeus.

Featured Image via Fotolia.

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 3 rated postsNic is an ex Investment Banker and current crypto enthusiast. When he is not sitting behind six screens trading Bitcoin, he is maintaining his numerous mining rigs.




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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 610 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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