On June 27, Singapore-based cryptocurrency exchange Bitrue reported that it had been hacked for around $4.2 million in user assets, consisting of 9.3 million XRP worth $4.01 million and 2.5 million cardano (ADA) worth $231,800. The hacker reportedly exploited a vulnerability in Bitrue's risk review process. According to Bitrue, user funds are insured, and those who lost cryptocurrency will be refunded.
In news closer to home, the city council of Riviera Beach, Florida, recently agreed to pay a ransom of $600,000 in bitcoin to hackers who targeted the city's computer systems. The attack reportedly began on May 29 when a police department employee opened an email attachment containing malware, which rapidly spread through the city's computer systems, crippling its email system and, crucially, the city's 911 dispatch operations. On June 17, the city council unanimously agreed to have its insurance carrier pay the hackers the ransom of 65 bitcoins.
Late last week, a new cryptocurrency mining malware was reported. The malware, called LoudMiner, operates within pirated applications that are bundled together with virtualization software, an image file and additional files. When downloaded, LoudMiner is installed before the desired software itself, concealing itself and only becoming persistent after reboot.
After the world's largest social media company published details last week on the launch of Libra, a new cryptocurrency that would be backed by a basket of fiat currencies and other traditional assets, scammers are already trying to cash in. According to reports, this week a website emerged that is a mirror image of the company's legitimate Libra website, except for a slight change to a single character in the URL. The false site reportedly offers "Pre-Sale Libra Currency" ahead of the official launch – which, pointedly, the social media giant has not itself announced. According to reports, prices include 600 "LBR" for 2 ETH and 8,000 LBR for 20 ETH.
For more information, please refer to the following links:
- Singapore Exchange Bitrue Hacked for Over $4 Million in Crypto
- A Florida city paid a $600,000 bitcoin ransom to hackers who took over its computers — and it's a massive alarm bell for the rest of the US
- Hit by Ransomware Attack, Florida City Agrees to Pay Hackers $600,000
- LoudMiner: Cross-platform mining in cracked VST software
- Researchers Uncover Threat of 'Unusual' Virtual Machine Crypto Mining
- Scammers Target Libra Fans With Fake Sites, Zuckbucks
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