Giant Fraudulent Botnet to be Found on Twitter

The team of researchers found a three-tiered network of more than 15,000 bots used to promote the fraudlent 'scheme'
08 August 2018   604

Researchers have discovered a huge botnet that mimics under real Twitter accounts. Its accounts are used to promote fraudulent schemes using cryptocurrency.

As ITPro reports, the botnet was discovered during the research of the Duo Security team, which checked 88 million Twitter. To identify bots, malicious accounts, etc. researchers used machine learning.

The team of researchers found a three-tiered network of more than 15,000 bots used to promote the 'scheme', in which people are offered to transfer a small amount in the cryptocurrency, and then get a big profit. Over time, this network evolved for masking purposes.

Researchers said that attackers, as a rule, first create a fake account that mimics under a real account that is related to crypto-currencies, copying its name and image in the profile.

For promotion purposes, bots comment on tweets and leave a link leading to the fraudulent portal.

It turned out that the subscribers of many imitative accounts are the so-called "hub-accounts", created, in the opinion of researchers, "to give them legitimacy."

In the botnet army, there are also "bot-amplifiers" - fake accounts that put the likes of fraudulent tweets to "artificially inflate the popularity of the tweet and give legitimacy to this cryptocurrency fraud."

Malicious bot detection and prevention is a cat-and-mouse game. We anticipate that enlisting the help of the research community will enable discovery of new and improving techniques for tracking bots. However, this is a more complex problem than many realize, and as our paper shows, there is still work to be done.

Jordan Wright 

Principal R&D engineer, Duo

Although Twitter has recently taken a number of measures to combat such cryptocurrency fraud schemes, Duo researchers concluded that these botnets are still active. "We do not believe that the problem is solved," the publication reads.

They plan to make public the techniques described in the article, in the hope of developing new methods that will identify malicious bots and help "Twitter and other social networks remain a place for healthy online discussion and building communities."

Bitfury to Unveil BTC's Lightning Network Tools

An open-sourced LN wallet, software and hardware payment acceptance solutions, etc
23 January 2019   77

Bitfury Group presented a number of tools designed to foster the development of the Lightning Network (LN), CoinDesk reports.

Among them: an open-sourced LN wallet, software and hardware payment acceptance solutions for merchants and payment processing. The company also introduced tools for developers and an open-source LN node called The Peach.

According to Bitfury representatives, all these tools are designed to make working with a second-level network easier and more convenient for companies and ordinary users. New products created by the Lightning Peach team.

By providing these products to the market, Bitfury is encouraging worldwide adoption of this technology and providing unparalleled support to consumers and merchants.

Valery Vavilov

CEO, Bitfury

Among other things, last week Bitfury added support for LN solutions on the BTCBIT cryptocurrency exchange.