There is a possibility that hackers will attempt to break into information systems through systems for satellite tracking. The details will be discussed in a hacking prevention conference which is coming up soon.
Synack Security Company said sensitive information could be intercepted by hackers due to satellite communication networks vulnerabilities. Furthermore, it is possible to intercept and decode trackers for high-security assets and banking money transports on the GlobalStar network which is used by banks with the aid of special equipment.
Hackers would thus be able to get sensitive information on the whereabouts of a particularly valuable transport. This sensitive information could include the whereabouts of nuclear transports or armored trucks used for conveying money. To make it worse, it is possible for the hackers to edit the information on this satellite system. They could thus inform the control room that a transport that has been hi-jacked is still on course with no issues. This would result in the hackers and their accomplices being long gone before any hint about the attack is received from the system.
This might look like a James Bond movie stunt, but in the real sense, it is possible. Though it is very difficult to achieve such a feat as you would need equipment that are very expensive as well as a skilled team on the ground that would be able to successfully rob the transport. This is recognizing the fact that such transports are always guarded heavily and would take a lot of preparation, effort, expensive equipment, and skills to carry out. The case of the robbery of the I-95 gold transport is an example of this scenario.
The security flaws in the tracking systems could be used by hackers for malicious pranks. The hackers could also give false information through the system as well as false alarms. The false alarms could be used to divert the attention of the security personnel to a wrong area so that they have less security to battle with during the execution of their plan.
There are a lot of other sensitive information and mischief hackers can cause from access to high tier satellite trackers. Apart from using satellite tracking for transports, they could be used for engineering project monitoring. Access to an oil rig system by a hacker would give him the ability to damage the rig.
The manager in charge of special activities in Synack by the name Colby Moore stated that they have informed GlobalStar about the flaw. He further stated that GlobalStar gave them a listening ear regarding the issue. They are however yet to map out a workable solution on covering the vulnerability of the tracking system. Colby Moore believes that more attention would be given to high tier security for satellites, after they bring it up in their conference next week.
Images from Shutterstock.
The Pirate Bay is Hijacking PCs to Stealth-Mine Cryptocurrency
For the second time in as many months, The Pirate Bay has been caught mining cryptocurrency on your computer without consent. The torrent platform was actually test-driving cryptocurrency mining in your browser – no doubt a lucrative revenue stream.
The Pirates Are At It Again
The news was later confirmed by Bleeping Computer, which reported that,”The Pirate Bay, the internet’s largest torrent portal, is back at running a cryptocurrency miner after it previously ran a short test in mid-September.”
Estimates indicate that the scheme has earned the pirates a total of $43,000 over a three-week period.
Users had no way to opt their computers out of being test-driven by the torrent network. Back in September, The Pirate Bay got away by telling people it was just a test. The site’s owners cannot use the same excuse this time around.
CoinHive advises websites to let their visitors know their browser is being used to mine cryptocurrency.
“We’re a bit saddened to see that some of our customers integrate CoinHive into their pages without disclosing to their users what’s going on, let alone asking for their permission,” the company said.
The good news is most ad-blockers and antivirus programs will block CoinHive, given its recent abuses. That means not all visitors of The Pirate Pay were being used as a conduit for mining Monero.
Monero Joins Global Crypto Rally
The value of Monero (XMR) shot up nearly 8% on Friday, and was last seen trading at $94.17. With more than 15.2 million XMR tokens in circulation, the total market cap for Monero is $1.4 billion, according to CoinMarketCap. That’s enough for ninth on the global cryptocurrency list.
Twelve cryptos have now crossed the $1 billion valuation mark. A handful of others have made their way north of $500 million.
Coders Safeguard Vulnerable Ethereum Wallets Following Security Breach
Ethereum suffered large-scale security breaches last week after anonymous hackers targeted vulnerable wallets in the network, resulting in the loss of tens of millions of dollars. However, it didn’t take long for a volunteer group of coders to “rescue” the funds in 500 at-risk wallets before the same attackers could get to them too.
White Hat Group Takes Charge
The so-called White Hat Group showed initiative by “rescuing” the funds using the same techniques the thieves employed to compromise $32 million USD worth of ether from three multi-signature wallets. As of Monday, the White Hat Group of ethical hackers was in possession of $86 million worth of ether and an additional $122 million in tokens.
Tokens are digital assets that are sold during an Initial Coin Offering (ICO) fundraising event. They have proven to be extremely popular.
Tens of millions of dollars worth of ether and tokens have already been returned to their owners. The White Hat Group says it will issue full refunds by the end of July.
Blockchain-based trading platform Coindash was also breached last week, resulting in the loss of more than $7 million worth of ether.
Security Breaches Nothing New in Crypto World
For all its benefits, cryptocurrency has been vulnerable to several high-profile security breaches. Last summer, Hong Kong-based Bitfinex was the target of a major attack that resulted in the theft of around $70 million worth of bitcoins. In response, the exchange announced a controversial plans to “socialize” its losses among all users. Each Bitfinex trader was docked 36% as a result.
Bitcoin prices declined sharply following the attack, stopping what had been a blistering summer of gains.
Ethereum Enterprise Alliance
For anyone doubting the potential of the ether, take a look at the list of companies participating in the Enterprise Ethereum Alliance (EEA). The EEA is a forum that connects Fortune 500 companies, startups and academics with ethereum subject matter experts. The EEA is made up of multinational banks and some of the world’s biggest technology companies.
The forum has made cyber security a top priority, according to a May 22 press release. In the release, companies like Infosys, Mitsubishi UFJ Financial Group, Synechron and others expressed their intent to contribute to the future of ethereum’s security.
Hackers Only Need Seconds to Figure Out Card Details
Experts from Newcastle University in England has found that hackers only need six seconds to figure out the card number, expiry date, and security code for a Visa debit or credit card by simple guesswork, according to a report from The Telegraph.
According to figures from the Office of National Statistics, in the U.K. the number of bank account fraud cases reported up to June 2016, from the beginning of the year, amounted to over 2.3 million.
The researchers found that all that a hacker needs is a computer and an Internet connection. It is believed that hackers simply utilize what is known as a Distributed Guessing Attack enabling them to get around security features that help prevent online fraud.
By using the Distributed Guessing Attack, the system was unable to detect multiple attempts made by hackers.
Process of Elimination
As such, within a matter of seconds hackers were able to determine the correct information on a person’s card by a process of elimination.
Only recently Tesco bank account customers were subjected to hacking after criminals were able to gain access to their accounts. It is believed that these hackers may have used the Distributed Guessing Attack to siphon money from peoples’ accounts.
Payment Cards Remain Vulnerable
Unfortunately, even though Visa debit and credit cards remain popular and convenient forms of payment, they remain vulnerable as well.
And hackers know this, which is why reports of online card fraud are becoming more prevalent in today’s technologically-advanced world.
Visa states though:
The research does not take into account the multiple layers of fraud prevention that exist within the payments system, each of which must be met in order to make a transaction possible in the real world.
However, while this may be the case, it seems something is amiss if cybercriminals can simply determine a person’s card details in six seconds through guesswork.
Bitcoin to the Rescue?
The digital currency bitcoin, however, may provide an answer to this problem.
As a type of digital currency that is held and created electronically with no central bank governing it, bitcoin is considered the cash of the Internet.
Due to its popularity more people are turning to it instead of fiat currency.
It was recently reported that Sweden is considering the issuance of its own digital currency, ekrona, in an effort to address the significant decline of the use of cash in the country.
Whereas India has announced that digital currency will become the new normal in the country as it attempts to reduce the amount of cash transactions with the banning of its biggest banknotes, the Rs 500 and Rs 1,000.
While these are just a few instances of how bitcoin is revolutionizing how we see money, many are quickly catching on to how safe and effective bitcoin is as a form of payment in a world where hackers are gaining easy access to a person’s Visa debit and credit cards.
Featured image from Shutterstock.
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