Social Engineering Result In Theft of Bitcoin worth $64 Million

bitcoin

Market source has disclosed that $63.92m worth of Bitcoin has been stolen from the NiceHash, a cryptocurrency marketplace based in Slovenia.

Explaining the incident on its official website, the company stated “our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. We are working to verify the precise number of BTC taken”. Sources has however gathered from NiceHash’s Head of Marketing Andrej P Škraba, the hack was “a highly professional attack with sophisticated social engineering”.

Bitcoin value has soared over the last couple of weeks making cryptocurrency market,  viable target for Hackers.

“While the full scope of what happened is not yet known, we recommend, as a precaution, that you change your online passwords,” NiceHash has warned his platform users.

Yahoo Data Theft linked to Blackhat Group

Yahoo Data Theft linked to Blackhat Group In Eastern Europe

In a recent report released by InfoArmor, Yahoo Data Theft has been linked to a group of hackers code name “Group E”. InfoArmor says the group apparently ex-filtrated the data via a remote attack.

When asked to explain the cause of the attack that led to the compromise of 500 Million User Accounts, Yahoo had previously fingered state sponsored organ linked to the Russian federation.

Full details of InfoArmor investigation can be downloaded here

How (in)effective are today’s defense-in-depth deployments?

security

A Real-world Assessment of Organization’s Defense-in-Depth Model: Snippets from FireEye Recent Data Analysis

  1. Nearly all (97 percent) organizations had been breached, meaning at least one attacker had bypassed all layers of their defense-in-depth architecture.
  2. More than a fourth of all organizations experienced events known to be consistent with tools and tactics used by advanced persistent threat (APT) actors.
  3. Three-fourths of organizations had active command-and-control communications, indicating that attackers had control of the breached systems and were possibly already receiving data from them.
  4. Even after an organization was breached, attackers attempted to compromise the typical organization more than once per week (1.59) on average.

Extensive update on this report can be downloaded from fireEye website

South Africa: Combating Cybercrime- The SABRIC Model…

sabricCEO
South African Banking Risk Information Centre (SABRIC) a trusted crime information centre leverages on public and private partnerships, delivers measurable value through a team of energetic specialists who consistently provide high quality support services and products;they contribute to the reduction of bank related crime through effective collaboration… learn more http://youtu.be/1OL6F5sUt-A?t=39s

 

Cybercrime Cost the World $455 Billion Annually

Cyber-crime

A report, which was sponsored by Internet security and software firm McAfee, is one of the first reports of its kind that was done to quantify the monetary costs of activities such as cybercrime and cyberespionage. The astounding figure derived from the estimate, issued by the Center for Strategic and International Studies, is much lower than the $1 trillion that was cited by the White House, but still elevates illegal cyber activities to the same levels as drug trafficking and is more than likely to attract criminal elements.

 

Read more at http://guardianlv.com/2014/06/cybercrime-estimated-to-cost-more-than-455-billion-annually/#2bCi91BqaO2KjqUg.99