Coinhoarder Phishing Scheme Brought $50m to Hackers

Attackers created fake Blockchain info websites and promoted them thru Google AdWords
15 February 2018   373

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.

Miners Arrested in 2 Chinese Cities For Power Theft

Six people were detained in Tianjin and two in Wuhan
25 April 2018   91

Bitcoin miners were arrested in two Chinese cities on charges of stealing electricity. This is reported by CoinDesk.

In the first case, 6 people were detained in Tianjin. The suspects used 600 devices for mining bitcoins that were connected to a local substation. The police claim that the connection was made bypassing the counters.

The investigation was initiated after one of the electric power companies discovered a discrepancy between the actual and claimed consumption of electricity.

The police seized all equipment for mining, as well as 8 powerful fans.

Events are taking place while China continues to play a dominant role in the mining of bitcoin, despite the pressure on the cryptocurrencies. As Xinhua notes, this case of electricity theft turned out to be the largest in recent years.

According to another report, which appeared today on the website of the Supreme Prosecutor of China, two more suspects were detained in Wuhan. They also stole electricity.

The detainees used empty stores since March 2017 to house miners and did not pay for electricity, as did the defendants from Tianjin.