Hackers to Steal Over $20M From Misconfigured ETH Clients

Attackers used the an RPC [Remote Procedure Call] interface on port 8545
12 June 2018   517

A group of hackers stole more than $ 20M worth ETH from wallets and minning apps based on the same-named blockade. This is reported by CoinDaily.

The attackers used Ethereum software applications that were configured to provide access to the RPC (remote procedure call) interface on port 8545.

This interface is used to access a software API that approved third-party services or applications may request the receipt of data from the source service, for example, applications for storing funds received from mining.

The RPC interface is able to provide access to some important functions, allowing a third-party application to view private keys and personal user data, and conduct transactions.

By default, it is disabled in most applications, and developers warn of the potential danger of launching it if it is not properly protected by the ACL (access control list), firewall, or other authentication systems.

Nowadays, almost all Ethereum-based software comes with an RPC interface, and in most cases, even when turned on, they are appropriately configured to listen to requests only via the local interface (127.0.0.1), meaning from apps running on the same machine as the original mining/wallet app that exposes the RPC interface.

Despite the warning of official developers, users continued to use misconfigured Ethereum clients for years. Many of them reported a loss of funds through an open RPC interface.

The scanning of these interfaces lasted for many years, but intensified with the rise in prices for cryptocurrencies. One of the biggest surges of scanning activity was registered in November last year.

The attacks were successful, as the victims soon discovered that the version of the Electrum Wallet application comes with RPC JSON, enabled by default, which makes it easy to access user tools.

According to security experts, at least one case of a massive scan of port 8545 was recorded in search of the software left on the Ethereum network.

Since March of this year, when these scans began, the attacker was able to get about 3,96234 Ethereum (about $ 2-3 thousand).

After analyzing the data of our own observations, the Netlab team concluded that the scan of port 8545 never ceased, intensified when several groups joined it. One of them turned out to be more effective than the others, assigning more than $ 20 million from Ethereum to open applications.

Satori, one of the world's largest IoT botnets, in May 2018, also began scanning for Ethereum's open air miners.

Prime Trust to Launch Custody Service for Crypto

CEO claimed his company will be the first to offer custody for any ERC-20 tokens
15 August 2018   161

Prime Trust announced the launch of the cryptocurrency custody service. This is reported by the Coindesk.

It became known that as early as the middle of July, the bitcoin storage service became available to customers, and next week support for Ethereum and ERC-20 tokens will be added.

In cryptographic storages, the access key to the wallet is stored either on a secure device not connected to the network or on paper in a safe.

Recently, information has appeared that several financial market mastodons, including Goldman Sachs, Northern Trust and Intercontinental Exchange, plan to provide custodian services for cryptocurrencies. However, according to Prime Trust head Scott Purcell, they were able to get ahead of the above-mentioned organizations.

They are trillion-dollar Fortune 100 entities, and they are just not going to move that fast. "We had had an engineering breakthrough which now enables us to easily cold-storage any ERC-20 token (along with BTC and ETH, of course).
 

Scott Purcell

CEO, Price Trust

Also, Scott notes that Prime Trust will be the first company to offer any ERC-20 tokens storage services.