Coinhoarder Phishing Scheme Brought $50m to Hackers

Attackers created fake Blockchain info websites and promoted them thru Google AdWords
15 February 2018   1142

Researchers at Cisco published information about the new phishing scheme. Organizers of  distributed fake copies of the website thru a Google AdWords service.

Dave Maynor and Jeremiah O'Connor reported that they monitor the activity of the scheme called Coinhoarder for 6 months together with the cyber police of Ukraine. According to their estimates, for a three-year period of their activity, scammers were able to steal about $ 50 million in the crypto currency.

The campaign was very simple and after initial setup the attackers needed only to continue purchasing Google AdWords to ensure a steady stream of victims. This campaign targeted specific geographic regions and allowed the attackers to amass millions in revenue through the theft of cryptocurrency from victims. This campaign demonstrates just how lucrative these sorts of malicious attacks can be for cybercriminals. Additionally, the revenue generated by these sorts of attacks, can then be reinvested into other cybercriminal operations. 

Cisco Researchers

The attackers created similar to Blockchain websites and assigned similar domain names to them, for example block-clain. info or blockchien. info, counting on the fact that the user does not distinguish a fake from the original. Then they "used Google Adwords to distort the search results of users and steal money from their wallets".

Fake Blockchain info
Fake Blockchain info 

Cisco found that the group operates from 2015, and assess the damage amount "tens of millions of dollars." According to their estimates, the attackers could steal about $ 50 million, and $ 2 million was stolen during the four-week period last year.

SEC to Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched
20 February 2019   98

For the first time since August of last year, two proposals on the creation of a Bitcoin-ETF are under consideration by the US Securities and Exchange Commission (SEC).

The application of VanEck and SolidX, issued in cooperation with the Cboe BZX exchange, as expected, was included in the Federal Register issue this Wednesday, with which the 45-day countdown to the SEC initial decision was launched. The application of Bitwise Asset Management and NYSE Arca was published last week.

I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.

Gabor Gurbacs

Director of digital asset strategy, VanEck

The head of Bitwise’s research department, Matt Hogan, believes that not only firms that have submitted bids to create Bitcoin-ETFs are looking for approvals, but and the entire “extremely fast-growing” crypto industry.

A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here. A little more than year ago, we didn’t have futures. A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.

Matt Hougan

Global head of research, Bitwise

 As reported, ultimately, however, a bitcoin ETF approval will depend on how companies approach their proposals.