News

6/18/2018
11:10 AM
Connect Directly
Twitter
Twitter
RSS
E-Mail
50%
50%

7 Ways Cybercriminals Are Scamming a Fortune from Cryptocurrencies

Cryptocurrencies, how do hackers love thee? Let us count the ways.
Previous
1 of 8
Next

Image Source: Adobe Stock (mehaniq41)

Image Source: Adobe Stock (mehaniq41)

With the cryptocurrency market bonanza in full swing, unscrupulous cybercriminals are cooking up new scams and hacks by the hour, all with the goal of reaping the ill-gotten rewards from investors, cryptocurrency exchanges, and legitimate coin miners across the internet.

According to most experts, 2018 is reaching a fevered pitch of criminal activity around all things blockchain and cryptocoin. In fact, one estimate by CryptoAware states that the criminal activity only halfway through 2018 makes up more than half of all criminal cryptocurrency incidents in the past seven years. So far this year, losses are stacking up to nearly $1.7B in publicly disclosed losses, according to figures compiled by that company.

Some cybersecurity experts believe the feeding frenzy is so frantic that it’s potentially distracting the bad guys from more traditional forms of cybercriminal data theft. For example, according to Risk Based Security's Q1 2018 Data Breach Trends report, this year's first quarter was the quietest in six years. Its researchers offer several theories on why, and one of them has to do with crypto criminality.

"We think the shift toward cryptomining is possibly easing some of the attention on data theft," says Inga Goddijn, executive vice president for Risk Based Security. "It's still too early to say for sure, but it does go to show: Malicious activity will follow the best opportunities for making a profit."

The following are some of the most common ways that the crooks are hacking and scamming their way into riches off the cryptocurrency bubble.

 

Top industry experts will offer a range of information and insight on who the bad guys are – and why they might be targeting your enterprise. Click for more information

 

Ericka Chickowski specializes in coverage of information technology and business innovation. She has focused on information security for the better part of a decade and regularly writes about the security industry as a contributor to Dark Reading.  View Full Bio

Previous
1 of 8
Next
Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
New Free Tool Scans for Chrome Extension Safety
Dark Reading Staff 2/21/2019
Making the Case for a Cybersecurity Moon Shot
Adam Shostack, Consultant, Entrepreneur, Technologist, Game Designer,  2/19/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
5 Emerging Cyber Threats to Watch for in 2019
Online attackers are constantly developing new, innovative ways to break into the enterprise. This Dark Reading Tech Digest gives an in-depth look at five emerging attack trends and exploits your security team should look out for, along with helpful recommendations on how you can prevent your organization from falling victim.
Flash Poll
How Enterprises Are Attacking the Cybersecurity Problem
How Enterprises Are Attacking the Cybersecurity Problem
Data breach fears and the need to comply with regulations such as GDPR are two major drivers increased spending on security products and technologies. But other factors are contributing to the trend as well. Find out more about how enterprises are attacking the cybersecurity problem by reading our report today.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-9015
PUBLISHED: 2019-02-22
A Path Traversal vulnerability was discovered in MOPCMS through 2018-11-30, leading to deletion of unexpected critical files. The exploitation point is in the "column management" function. The path added to the column is not verified. When a column is deleted by an attacker, the correspond...
CVE-2019-9016
PUBLISHED: 2019-02-22
An XSS vulnerability was discovered in MOPCMS through 2018-11-30. There is persistent XSS that allows remote attackers to inject arbitrary web script or HTML via the form[name] parameter in a mod=column request, as demonstrated by the /mopcms/X0AZgf(index).php?mod=column&ac=list&menuid=28&am...
CVE-2018-20784
PUBLISHED: 2019-02-22
In the Linux kernel before 4.20.2, kernel/sched/fair.c mishandles leaf cfs_rq's, which allows attackers to cause a denial of service (infinite loop in update_blocked_averages) or possibly have unspecified other impact by inducing a high load.
CVE-2019-9003
PUBLISHED: 2019-02-22
In the Linux kernel before 4.20.5, attackers can trigger a drivers/char/ipmi/ipmi_msghandler.c use-after-free and OOPS by arranging for certain simultaneous execution of the code, as demonstrated by a "service ipmievd restart" loop.
CVE-2019-9004
PUBLISHED: 2019-02-22
In Eclipse Wakaama (formerly liblwm2m) 1.0, core/er-coap-13/er-coap-13.c in lwm2mserver in the LWM2M server mishandles invalid options, leading to a memory leak. Processing of a single crafted packet leads to leaking (wasting) 24 bytes of memory. This can lead to termination of the LWM2M server afte...