Multimillion Scam Busted In South Korea

Many people were indicted on embezzlement charges and some top investors are on the run and have been put on an Interpol wanted list
20 December 2017   1090

South Korean authorities on Wednesday indicted over two dozen people associated with a cryptocurrency operation for their involvement in a multimillion dollar scam. The large-scale fraud scheme was being run by Mining Max, a cryptocurrency company that has a mining farm in Seoul.

The suspects, which include the company’s chairman and vice chairman, are accused of embezzling about $250 million from 18,000 investors in 54 countries, including the United States, South Korea, China and Japan. Many people were indicted on embezzlement charges but were not detained and some top investors, are on the run and have been put on an Interpol wanted list.

Prosecutors also believe only about $80 million of the investors' money was spent on buying equipment to mine cryptocurrency with the rest of it being used by the management for personal enrichment or to reward the top investors. About $110 million is thought to have been stashed in offshore bank accounts.

Chinese Hackers Hiddenly Mined $2M

Hackers built hidden miner into plug-ins for the Internet browser - for example, to improve the speed of the Internet
10 July 2018   241

Chinese hackers were able to mine hiddenly $2M worth  cryptocurrency in 2 years. 1M devices were infected. This is reported by CoinDesk.

According to one local media, police in the Chinese city of Dalian arrested 20 employees of a computer firm who are suspected of illegally taking control of a large number of computers for illegal crypto-mining.

Hackers created a malicious program and built it into plug-ins for the Internet browser - for example, to improve the speed of the Internet - and promoted it through advertising, which was shown to 5 million users.

After the user clicked on such an advertisement and installed the plugin, his computer became infected. As a result, according to the police, malware was downloaded to more than 1 million computers, which for 2 years mined 26 million tokens of Digibyte, Decred and Siacoin.

In addition, hackers created a network of more than 100 agents to promote their illegal mining network-for example, through working relationships in the internet cafes.