Ethereum Wallet Drainer Steals $60M in Six Months

Hackers are using a piece of code called Create2 to bypass security alerts when users sign malicious signatures.

It seems that with crypto is there's always a crook attached.

Swyftx says Binance CEO Zhao Changpeng conviction a 'line in the sand'.

Someone else is about to feel the real cost of backing & promoting a ponzi crypto-currency:
https://www.bbc.co.uk/news/technology-67566602

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Bob Smith
Member of Seti PIPPS (Pluto is a Planet Protest Society)
Somewhere in the (un)known Universe?

Another crypto crook gets snagged.

Australian Sam Lee charged over billion-dollar cryptocurrency fraud scheme in US.

Australian cryptocurrency entrepreneur Sam Lee has been charged for his alleged role in a $US1.89 billion ($2.85 billion) fraud scheme alongside two others.

The US Department of Justice has announced the charges against Mr Lee, 35, alongside US nationals Rodney Butron and Brenda Chunga for allegedly co-founding HyperFund, also known as HyperTech, HyperCapital, HyperVerse and HyperNation.

The trio is charged with defrauding investors for allegedly falsely representing that investors would receive substantial returns paid from cryptocurrency mining operations, which did not exist.....

A digital error sees a man do a runner.

Victorian man vanishes after receiving about $500,000 in cryptocurrency account error.

A Mildura man has vanished, after allegedly pocketing about half a million dollars when a cryptocurrency trading platform accidentally added an extra zero to his account.

Cryptocurrency trading platform Rhino Trading Pty Ltd, which operates the website OTCPro, applied to the Victorian Supreme Court for the man's assets to be frozen and for an order preventing him from leaving the country after he failed to respond to requests to return the money.

Cryptocurrency is a digital currency that allows people to make payments directly to each other through an online system.
Transactions are verified through a decentralised ledger known as a blockchain rather than by banks.

Court records show that on January 25, 2024, OTCPro received a $99,500 deposit from 37-year-old Mildura man Kow Seng Chai through an account set up by his business Lotte Enterprise Pty Ltd.

When the company credited Mr Chai's trading account in the exchange, it mistakenly added a zero to the amount, crediting him with $995,000, not $99,500.

The company did not pick up the error until February 4........

Sam Bankman-Fried sentenced to 25 years in prison

https://www.cnn.com/business/live-news/sam-bankman-fried-sentencing-03-28-24/index.html

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Sam Bankman-Fried sentenced to 25 years in prison

https://www.cnn.com/business/live-news/sam-bankman-fried-sentencing-03-28-24/index.html

He got off easy. Prosecutors wanted at least 50 years.

Sentence should of been minimum 50 to life.... or one month for every $100,000 of estimated value of coins he stole.

Now this has to really make you wonder when delusional Donny backs delusional currency.

Bitcoin has surged in value after Donald Trump promised to make a bombshell sacking on his first day in office if he is elected President.

How North Korea pulled off a $1.5 billion crypto heist—the biggest in history
Attack on Bybit didn't hack infrastructure or exploit smart contract code. So how did it work?

How soon before they start using carrier pigeons?
Cybercrims now licking stamps and sending extortion demands in snail mail

First crooks gave up encrypting data, and just stole it – now they don't even bother pilfering info. Sheesh!

The letters state they’re sent by the BinLian ransomware group, according to Grayson North, senior threat intelligence analyst at GuidePoint Security, who told The Register: "To our knowledge, no one has fallen for the fake letters."

The letters inform the recipients their networks have been compromised, sensitive information exfiltrated, and warn that a ransom of $250,000 (£200,000) to $350,000 (£275,000) must be paid within ten days or the data will be released.

The messages include a demand for payment in Bitcoin and thoughtfully include a QR code that links to the wallet to which the crooks suggest victims send the digi-bucks. A Tor link to BianLian's data-leak site is also present, presumably to add credibility to the letters.

Bitcoin mining is no longer profitable
Reports indicate that mining a single Bitcoin now costs far more in electricity than it's worth, even at sky-high prices.

Coinshares, via reporting from Overlclockers.ru and PCGamer, reports that we’re now past that point—well past it, in fact. The math says that mining a new Bitcoin in 2025 costs approximately $137,000 USD in electricity, even if you have the (very expensive) computer power to do it, while that Bitcoin is worth about $95,000 on the open market. Even at its all-time high of over $100,000 earlier this year, and assuming ideal conditions with access to cheap power and hardware, it’s a losing game.

The fake currency bank vault gets compromised by 'insiders'
'Expect Imposters' Coinbase Tells Customers Whose Information Was Exposed in Data Breach

Cryptocurrency transaction platform Coinbase disclosed a ransomware attack that occurred months ago, according to a legally required US regulatory filing on May 11. The attacker demanded $20 million to cover up the attack; Coinbase did not pay the ransom.

An attacker allegedly bribed Coinbase customer support agents - what Coinbase described as "a small group of insiders" from an overseas customer support pool - to collect data on a small number of customers. The attacker would then use that data to contact customers and trick them into thinking the attacker was a representative of Coinbase in order to steal customers' cryptocurrency.

The stolen data includes:

• Name, address, phone, and email.
  
• The last four digits of the Social Security number.
  
• Masked bank account numbers and some bank account identifiers.
  
• Government-ID images, such as a driver's license or passport.
  
• Account data, including balance snapshots and transaction history.
  
• Limited corporate data (including documents, training material, and communications available to support agents).
  

**Customer funds and wallets, private keys, and 2FA information were not compromised.

Class action alleges Nvidia hid more than $1B crypto-GPU income within its gaming revenues — investor lawsuit concerns business spanning 2017 and 2018

Nvidia is back in court over whether a significant chunk of its revenue through 2017 and 2018 was reliant on the whims of the cryptocurrency market. Specifically, a class action lawsuit has been given the green light by a U.S federal judge, reports Decrypt. This allows the plaintiffs to move forward with a case alleging Nvidia hid over $1 billion in cryptomining GPU revenue in its gaming segment, reporting over the period. Anyone who bought Nvidia stock between August 10, 2017, and November 15, 2018, is included in the class action.

Nvidia had already been raked over the legal coals and made to pay an SEC fine of $5.5m for not being clear about the scale of the income from its products used in the cryptomining business, back in 2022. After that, Nvidia continued to downplay the scale of GPU demand for crypto. But, pivotally, it hasn’t been able to back up its claims with documentary (accounting) evidence. That’s why Judge Haywood S. Gilliam Jr. certified this new class action on Wednesday in California federal court.

It was previously maintained by Nvidia that crypto mining accounted only for a small part of its business during the period under scrutiny. At that time (and until 2020), the majority of the Green Team’s revenue was traditionally from the PC gaming market. However, the plaintiffs argue that a significant amount of crypto revenue was funneled through gaming GPU sales - and thus recorded as - gaming segment revenue.