Dark Web Cryptocurrency Deals Likely in News Sites’ Admin Hacks

Israeli cybersecurity firm Sixgill has told Bitsonline that cryptocurrency has a “very high probability” of being involved in any associated sales.

Dark Web Cryptocurrency Deals Likely in News Sites’ Admin Hacks

January 21, 2019 by William Peaster0 Comment2241 Views

A Russian-language dark web forum has recently caught international attention for postings offering to sell admin access to more than 1,000 U.S. news sites’ content backends. Israeli cybersecurity firm Sixgill has told Bitsonline that cryptocurrency has a “very high probability” of being involved in any associated sales.

Also read: Lightning Network Goes to Congress as Specter of Crypto Policy Grows

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Fakes News: Dark Web Cryptocurrency Deals for Sites’ Admin Panels?

Last week, news site Axiospublished a report detailing how Israeli cybersecurity firm Sixgill had discovered Russian dark web forum postings where large amounts of international and American news sites’ admin login credentials were being sold.

While the credentials were priced in U.S. dollars in the postings in question, the Axios report didn’t delve into how purchases were conducted.

Bitsonline reached out to Sixgill to see if cryptocurrencies were likely involved in related login sales, and the firm’s intelligence expert Alex Karlinsky said it was almost certain.

“There is a very high probability that the sales of access to news and media CMS’s will be facilitated by cryptocurrency, as this is now the go-to payment method of choice for cybercriminals,” Karlinsky told Bitsonline.

The unknown hackers have been offering “upload / edit posts” capabilities to as many as 1,425 U.S. news sites since Dec. 2018. Similar Saudi Arabian and Southeast Asian sites have apparently been on sale since last fall.

Two dark web postings offering login info for news sites’ admin panels. Images via Sixgill

Illicitly-gained data being sold for cryptocurrencies has been on the rise in recent years, as cybercriminals have used the pseudoanonmyity of digital assets to try to separate themselves further from their crimes.

One such case came last August when hackers hosted 130 million Chinese hotel guests’ travel data for sale on the dark web in exchange for bitcoin. And in June 2018, Europol seized more than $5 million USD worth of crypto in a bust against European dark web LSD dealers.

Crypto a Major Deanonymization Vector on the Dark Web, Though

Pseudoanonymity isn’t full anonymity. And that dynamic can out those who do turn to dark web cryptocurrency transactions.

That’s per anonymity researcher and Open Privacy executive director Sarah Jamie Lewis, who toldBitsonline last year that cryptocurrency use was “a major deanonymization vector.”

Of course when it comes to chain analysis endeavors, privacy coins like Monero and Zcash pose much harder challenges for law enforcement than less privacy-focused blockchains like Bitcoin and Ethereum.

In the fall of 2017, Europol issued a report saying bitcoin was still the currency du jour on the dark web at the time but that other cryptocurrencies were rapidly gaining ground there in popularity.

“Cryptocurrencies continue to be exploited by cybercriminals, with Bitcoin being the currency of choice in criminal markets, and as payment for cyber-related extortion attempts, such as from ransomware or a DDoS attack,” the authors said.

“However, other cryptocurrencies such as Monero, Ethereum and Zcash are gaining popularity within the digital underground.”

What’s your take? Do dark web cryptocurrency transactions work against mainstream adoption of crypto, or in favor? Let us know in the comments section below.


Images via Pixabay

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Large Indian Bank Clamping Down on Cryptocurrencies

One of the largest banks in India is asking its users to consent that they won’t be using their accounts to trade Bitcoin or other cryptocurrencies.

One of the largest banks in India is asking its users to consent that they won’t be using their accounts to trade Bitcoin or other cryptocurrencies. The bank also asks for authorization to immediately shut down an account if it’s associated with digital currencies.

Things Are Not Looking Good in India

On April 6th, the Reserve Bank of India (RBI) ordered all regulated financial institutions to refrain from working with cryptocurrency-related businesses of any kind.

The move was met with a swift response from the industry which challenged the order. However, a few months later, on July 3, the Supreme Court of India upheld the ban, delivering a heavy blow to the entire field.

It wasn’t long before this took its toll on the industry. In October, India’s very first Bitcoin ATM was shut down and both of the founders of the company which operated it were arrested.

In December, Live Bitcoin News reported that the country is allegedly planning to end its statewide cryptocurrency ban. Purportedly, the Government has created an interdisciplinary committee which is figuring out ways to legalize and regulate the cryptocurrency industry instead of banning it straight away.

However, a month later, one of the country’s biggest banks has also gone against crypto.

HDFC Jumps on the Anti-Crypto Bandwagon

A Twitter user CryptoIndia YT (@Cryptoindia) shared that HDFC has requested users to confirm that they won’t use their bank accounts for trading Bitcoin or any other cryptocurrency.

After Kotak and few other Indian Banks.

Hdfc asking customers to visit bank branch and sign this consent letter regarding trading with crypto currencies/bitcoin.#IndiaWantsCrypto#bitcoin#indiapic.twitter.com/r4iuwiZiA9

— CryptoIndia YT (@CryptooIndia) January 21, 2019

Additionally, the bank has also requested its clients to “authorize the bank to close the above account without any further notice if it is observed in future that transactions have been carried out for Bitcoin/virtual currencies.”

HDFC is currently the third largest bank in India and it has around 89,000 employees throughout its branches.

What do you think of HDFC going against cryptocurrencies? Don’t hesitate to let us know in the comments below!

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Bitcoin Cash Trading Down 7.4% This Week (CRYPTO:BCH)

Bitcoin Cash (CURRENCY:BCH) traded down 0.3% against the U.S. dollar during the 1 day period ending at 15:00 PM ET on January 14th. Over the …

Bitcoin Cash logoBitcoin Cash (CURRENCY:BCH) traded down 0.3% against the U.S. dollar during the 1 day period ending at 15:00 PM ET on January 14th. Over the last week, Bitcoin Cash has traded down 7.4% against the U.S. dollar. Bitcoin Cash has a total market capitalization of $2.16 billion and approximately $189.14 million worth of Bitcoin Cash was traded on exchanges in the last day. One Bitcoin Cash coin can currently be bought for about $122.94 or 0.03440372 BTC on exchanges including Bit2C, B2BX, SouthXchange and C2CX.

Here is how related cryptocurrencies have performed over the last day:

  • Bitcoin (BTC) traded down 0.4% against the dollar and now trades at $3,578.01 or 1.00000000 BTC.
  • Steem (STEEM) traded 6.2% higher against the dollar and now trades at $0.39 or 0.00010816 BTC.
  • Unobtanium (UNO) traded 3.7% lower against the dollar and now trades at $71.75 or 0.02008804 BTC.
  • Namecoin (NMC) traded 2.7% lower against the dollar and now trades at $0.70 or 0.00019489 BTC.
  • Counterparty (XCP) traded 3.5% lower against the dollar and now trades at $2.11 or 0.00058984 BTC.
  • Crown (CRW) traded 1.8% lower against the dollar and now trades at $0.11 or 0.00002997 BTC.
  • CHIPS (CHIPS) traded 0.2% lower against the dollar and now trades at $0.0430 or 0.00001203 BTC.
  • Terracoin (TRC) traded 72.4% higher against the dollar and now trades at $0.0189 or 0.00000529 BTC.
  • ATBCoin (ATB) traded 0.1% lower against the dollar and now trades at $0.0085 or 0.00000239 BTC.
  • UnbreakableCoin (UNB) traded flat against the dollar and now trades at $0.11 or 0.00001757 BTC.

About Bitcoin Cash

Bitcoin Cash is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. Its launch date was August 1st, 2017. Bitcoin Cash’s total supply is 17,578,825 coins. The official message board for Bitcoin Cash is bitcointalk.org. Bitcoin Cash’s official website is www.bitcoincash.org. The Reddit community for Bitcoin Cash is /r/Bitcoincash and the currency’s Github account can be viewed here. Bitcoin Cash’s official Twitter account is @bitcolncash and its Facebook page is accessible here.

Bitcoin Cash Coin Trading

Bitcoin Cash can be traded on these cryptocurrency exchanges: Fatbtc, FCoin, Trade Satoshi, OKCoin International, Coinroom, BTC Markets, EXX, Altcoin Trader, Gate.io, IDCM, ZB.COM, CryptoBridge, SouthXchange, BTCC, Bibox, RightBTC, BX Thailand, Coinsquare, CoinExchange, CoinTiger, xBTCe, Cobinhood, Koinim, Independent Reserve, DSX, Stellar Decentralized Exchange, Kucoin, CoinBene, Koineks, Bitfinex, Bleutrade, Huobi, DragonEX, Ovis, ACX, HBUS, Coinsuper, Gatecoin, Zaif, Trade By Trade, Liqui, CoinFalcon, CPDAX, Koinex, ABCC, Cryptohub, Negocie Coins, Bitsane, BiteBTC, BigONE, Poloniex, Exmo, CoinEx, QBTC, Iquant, Coinfloor, Bittylicious, Bit2C, Braziliex, Waves Decentralized Exchange, ChaoEX, Coindeal, Bithumb, CEX.IO, Allcoin, Bisq, Tidex, BitForex, Coinone, TOPBTC, Bitso, Bit-Z, Coinbase Pro, Kraken, GOPAX, Binance, Kuna, Bitstamp, Korbit, Vebitcoin, Upbit, OTCBTC, Stocks.Exchange, bitFlyer, Crex24, HitBTC, Instant Bitex, Zebpay, MBAex, COSS, Indodax, Liquid, Coinbe, Coinrail, Mercado Bitcoin, Buda, Mercatox, Exrates, Cryptomate, BTC Trade UA, Cryptopia, Coinhub, Bitbank, BitBay, Bittrex, cfinex, Coinnest, B2BX, CoinEgg, Graviex, Bitinka, BitMarket, WazirX, BtcTrade.im, YoBit, WEX, UEX, QuadrigaCX, Bitbns, Sistemkoin, C2CX, Livecoin and OKEx. Investors seeking to acquire Bitcoin Cash using US dollars directly can do so using Gemini, Changelly or GDAX.

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Highly Respected Crypto Analyst: Bitcoin Will Eventually Surpass its All-Time High in Next Bull Run

The Winklevoss Twins, the co-founders of the popular Gemini Exchange, believe that Bitcoin is better than gold. Additionally, Tayler Winklevoss …
Highly Respected Crypto Analyst: Bitcoin Will Eventually Surpass its All-Time High in Next Bull Run

Although the cryptocurrency market has been in a bear trend during the last months, Alistair Milne, the Chief Investment Officer at Digital Currency Fund, mentioned that he is bullish on Bitcoin (BTC).

He started a thread on Twitter in which he gives different reasons about why he is bullish about Bitcoin’s future. He started by saying that Bitcoin investors speculated that they could multiply several times their capital or just lose 80% of it. Now, after a decrease of more than 80% since its all-time high, Bitcoin is giving a great opportunity for users to multiply, at least, five times their capital.

At the same time, Alistair Milne explains that there are low possibilities of Bitcoin reaching its all-time high once again and falling after it instead of continuing its positive trend. As he wrote, each wave of adoption is an order of magnitude bigger than the last. This is why several holders will not be selling at $19,000.

As Alistair Milne says, Bitcoin has already reached mainstream awareness and the FOMO (Fear of Missing Out) will be larger than ever.

Bitcoin has reached mainstream awareness (almost everyone has heard of it) and so when it proves it is ‘not dead’ yet again, the FOMO will be larger than ever… (imagine 100mil people buying)

Not to mention the massive progress in helping institutional money participate

4/6

— Alistair Milne (@alistairmilne) January 19, 2019

He went on saying that several investors are aware that Bitcoin is currently trading Gold with 100x leverage. In the near future, Bitcoin’s inflation will be lower than the one of Gold. He finally said that some changes take time to happen. He believes that the next bull run will decide which public blockchains persist for the next 100 years.

There are several individuals and experts in the cryptocurrency market that believe that Bitcoin has a very positive future ahead. The Winklevoss Twins, the co-founders of the popular Gemini Exchange, believe that Bitcoin is better than gold. Additionally, Tayler Winklevoss mentioned that Bitcoin could eventually surpass gold’s market capitalization.

At the time of writing this article, Bitcoin is being traded around $3,581 and it has a market cap of $62 billion.

A New Record for Bitcoin: BitPay Reports $1 Billion Worth of Transactions for 2018

Bitcoin transactions were on the rise in 2018. A recent report released by BitPay blockchain payment processor showed that the company processed …

Bitcoin transactions were on the rise in 2018. A recent report released by BitPay blockchain payment processor showed that the company processed transactions of $1 billion in 2018. The press release also states that BitPay managed to set a record for payment error rates. From 8% in December 2017, the errors for total dollar volume dropped to under 1% in 2018.

A Bullish Outlook for Bitcoin

The Head of Product at BitPay, Sean Rolland, stated in the press release: Bitcoin has the network effect around the world and we are still extremely bullish on Bitcoin and the Bitcoin ecosystem.

He believes that the support for Payment Protocol wallets has convinced many merchants around the globe to start accepting payments in Bitcoin. The Bitcore Wallet Service developed by BitPay is the driving force behind more that 1.5 million wallets created by users during last year.

Growing Trust Among Businesses

The news shared by BitPay has a stronger significance, beyond the immediate positive effect on its image and investors. The record transactions with Bitcoin in 2018 show that cryptocurrency is making its way into the B2C and B2B worlds. It is no longer a currency reserved only for peer to peer transfers between individuals.

Large brands and small businesses across the world are willing to allow their customers to pay with crypto. BitPay offers payment processing services in 233 countries and territories across the globe, including UK, Europe, Canada and Australia.

Professionals Steer Towards Blockchain and Crypto Companies

At the same time, recent additions to the staff of the company indicate that professionals are willing to start a career in crypto. The new Head of Industry Solutions responsible for B2B businesses is Rolf Haag, a former executive at Western Union and PayPal. This move came in response to the 255% growth in the B2B line of business that BitPay experienced. Some of the clients include law firms, IT vendors and data centre providers.

BitPay’s B2B business continues to grow rapidly as our solution is cheaper and quicker than a bank wire from most regions of the world, said the co-founder and CEO of BitPay, Stephen Pair.

New Investors Bring $40 Million in Series B Funding to BitPay

The positive results of 2018 enabled BitPay to complete a Series B funding. The funding raised $40 million and now the company has a total capital of over $70 million. The series B included individual investors, such as Christopher Klauss Family office, the founder of Internet Security Systems, and the Co-founder of Tencent, Alvin Liu.

Bitcoin has the network effect around the world and we are still extremely bullish on Bitcoin and the Bitcoin ecosystem.

The Series B funding came as a necessity after the constant growth of the company. BitPay increased its headcount by 78% during last year. At the moment, the BitPay team consists of 80 employees working in the sales, engineering, support, and compliance departments. Among the new clients they work with are major gift card brands. Users can use in-app facilities to buy gift cards for shopping, food and travel paying with Bitcoin and Bitcoin Cash.

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