Coinhoarder Phishing Scheme Brought $50m to Hackers

Attackers created fake Blockchain info websites and promoted them thru Google AdWords
15 February 2018   814

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 Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   134

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.