Crypto Investor Hacked for Millions during Livestream

Well-known cryptocurrency investor and Youtube figure Ian Balina finished a livestreamed ICO review last night when he understood he was being hacked
16 April 2018   515

It seemed Balina discovered something was amiss when he was required to sign back into Google to save changes to the spreadsheet he was using, saying “I have to get going” and completing the stream.

There were a wide range of vulnerabilities in Balina’s security which he recognized were the the hack reason. His major email account was supported by only an old college email account, desolated long ago. In the occasion of Balina losing the password to his account, the college account could be used to reset the keyword. Hackers revealed this account and accessed it, using it to reset the password and access the main account where they came across the second main security breach.

Balina stored the personal and public keys he was necessary to pass his digital assets on popular cloud storage program Evernote, safed with password protection. Having accessed the main email, it was not difficult to reset the Evernote password and get access to millions of dollars worth of cryptocurrency. Balina remembers receiving a message about his college account being targeted.

I remember getting an email about it being compromised and tried to follow up with my college security to get it resolved, but wasn’t able to get it handled in a fast manner and gave up on it thinking it was just an old email. 
Ian Balina, crypto investor

The hack occured days after Balina shared his portfolio on Twitter,  what might have encouraged hackers to target him. The security fail has reduced to wider discussion about whether other cryptocurrency users are keeping their keys safely, and may in turn lead to extra precautions being adopted by other Bitcoin investors.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   118

Users of HashFlare mining pool can't withdraw their funds, while their contracts are threatened with a temporary ban. Even lower restrictions on withdrawal of funds in the amount of 0.03 BTC caused problems for users, but the service raised the threshold to 0.05 BTC and 0.1 ETH . This is reported by Cryptovest.

In addition, financial pyramids are often promoted under the guise of mining contracts for cloud mining. For last few months, there was a big jump in mining difficulty of many cryptocurrencies, so, old contacts had become unprofitable.

As reported, the reason for the locked funds dates back further - at the beginning of June, so much hashing power was flowing into the Bitcoin network that contracts saw all the mined coins go toward their maintenance fee.

Currently, more and more users who have purchased contracts at earlier stages are facing the fact that they can not withdraw their funds. One of them managed to return the money spent through the bank card operator after filing a corresponding complaint.

To anybody that purchased a Hashflare cloud mining contract with a credit card, it might be possible to get a refund with that credit card as one of my followers tipped me. He bought his contracts at the end of 2017.

bccponzi at Twitter

The hash rate of bitcoin increased from 13 EHash / s at the beginning of the year to more than 40 EHash / s in recent months. The difficulty of mining in the present conditions depends on the circumstances of the specific miner. The cost of bitcoin mining for some of them is $ 4,400, while others spend about $ 5,800. However, in 2018, cloudy mining is called an even more dubious occupation than before, especially when it comes to mining bitcoin.