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Six Crypto Hackers Nabbed For Stealing €24 Million Worth Of Bitcoin

They now face charges for alleged money laundering and violations of the Consumer Misuse Act.

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Hacking crypto companies have become more rampant in the recent months. Photo: Flyerdiaries.com | Flickr | CC BY 2.0

A multi-agency task force captured six Dutch and British individuals concerning to the multimillion euro cryptocurrency theft.

The multi-agency investigation jointly conducted by the UK’s South West Regional Cyber Crime Unit (SW RCCU), Dutch police (Politie), Europol, Eurojust and the UK’s National Crime Agency (NCA) took 24 months to zero in with the alleged perpetrators of a €24 million cryptocurrency theft, according to a press release by Europol.

The concerned organization released no further details regarding the actual theft, but the recent announcement revealed that five men and one woman were arrested in simultaneous warrants on the morning of June 25th, at their homes in Charlcombe, Lower Weston and Staverton (UK) and Amsterdam and Rotterdam (the Netherlands).

During the arrest, the authorities seized a larger number of electronic devices, equipment, and valuable assets.

Three of the six suspects in custody were apprehended in the Netherlands, including a 19-year-old woman in Amsterdam, and two Rotterdam men aged 21 and 26. The three are currently charged with the suspicion of money laundering and violations of the Computer Misuse Act.

The three were scheduled to appear before in court on Friday, Dutch police said.

According to the agency, the suspects stole bitcoin from at least four thousand victims in 12 different countries across Europe, and these numbers are expected to grow bigger.

“The thieves are suspected of targetting users’ bitcoin tokens, affecting at least 4 000 victims in 12 countries; these numbers are expected to grow further,” wrote a press release from Eurojust.

According to the authorities, the modus operandi of the arrested persons include “typosquatting” where they impersonated and “spoofed” popular crypto exchange websites to trick users to login in their bogus sites for them to collect login information and ultimately steal funds from the victims’ accounts.

“In February 2018, the South West Regional Cyber Crime Unit (SW RCCU) identified possible suspects living in the Netherlands and referred the case to the Joint Cybercrime Action Taskforce (J-CAT), hosted at Europol’s European Cybercrime Centre (EC3). Europol organized two operational meetings, allowing for the smooth exchange of intelligence and evidence, which led to the successful outcome of the operation. A coordination meeting was held at Eurojust, the EU’s Judicial Cooperation Unit, to decide on a joint strategy and prepare for the smooth coordination of the action day,” wrote Eurojust.

Crypto hacking is rampant

In recent months, cryptocurrencies and crypto exchanges have become the target of a series of hacking attacks aiming to steal funds and data from their system.

Three months ago, a Singapore-based crypto exchange company has announced Monday that hackers have stolen an undisclosed amount of crypto money.

DragonEx, a crypto exchange company based in Singapore sent a message through Telegram saying that the company fell victim to a cyber attack and noted that cryptocurrency funds owned by users and the exchange were “transferred and stolen.” The company did not disclose the total value of the losses and the amount of the stolen cryptocurrency funds yet.

DragonEx admins updated its users and provide wallet addresses for 20 cryptocurrencies to which the stolen funds had been transferred. The list included the top five cryptos by market capitalization: Bitcoin (BTC), ether (ETH), XRP, litecoin (LTC) and EOS, as well as the stable tether coin (USDT) for which six destination addresses were provided.

Other attacks also targeted the exchange company instead of its users. Last May, Cryptopia announced that they are selling their assets for them to recover from the significant loss they experience after their system was attacked earlier this year.

The unfortunate incident started when Cryptopia went offline on January without any warning only to notify the public after a few weeks saying that the exchange had “suffered a security breach which resulted in significant losses.”

According to a blockchain data analytics firm, their investigation allowed them to estimate the loss caused by the cyber attack to be as much as $16 million in ether and ERC-20 tokens. While the company has restarted its trading services in March, no one is still certain of the actual damages that the cyber attacked caused the company. Until now, the company is still recovering from the aftermath of the breach and still having banking issues.

A consumer tech and cybersecurity journalist who does content marketing while daydreaming about having unlimited coffee for life and getting a pet llama.

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Outpouring Support For KyoAni After Arson Attack

Fans call for support and help via the hashtag #HelpKyoAniHeal.

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A photo of Kyoto Animation Co., Ltd.'s building entrance. Photo: Thibaut120094 | Flickr.com | CC BY 2.0

A fire broke out in Kyoto Animation Co., Ltd.’s headquarters in Fushimi-ku district, Kyoto at 8:35 PM (CT), which resulted in at least 33 people dead and dozens injured.

The fire was successfully put out after five hours. Since the company’s studios are located in a residential area, neighboring establishments and private spaces were the ones who called the firefighters after hearing a loud explosion, followed by smoke rising from the building shortly. Local authorities investigated and concluded that the fire was brought upon by arson.

A 41-year-old man, who was identified by multiple witnesses as the suspect, is being treated at the hospital. The police apprehended him before being rushed to the hospital.

The motive of the crime is not yet determined since the police cannot interrogate the suspect due to his extensive injuries. Based on the suspect’s records, there is no direct connection between him and the animation studios. A witness informed authorities that the man shouted “Die!” repeatedly as he carried out his attack.

Reports have shared that the man brought 40 liters of petrol in two containers into the building. He proceeded to douse the lobby of the 1st Studio building using the gasoline he purchased at a nearby gas station.

Aside from petrol, the suspect carried several knives, which were found in the backpack discarded in the aftermath.

Prime Minister Shinzo Abe sent via Twitter his condolences to all casualties and wished those that were injured a speedy recovery. He also stated that the crime has rendered him speechless.

The studio’s president and co-founder Hatta Hideaki spoke to reporters later in the day, in front of the studios’ burned building. He has expressed his disappointment and frustration over the incident. He said, “This has just broken our hearts.”

Kyoto Animation Co., Ltd., also known as KyoAni, estimates that there were 70 people already in the building when the suspect launched his attack. Several members are still in the hospital in critical condition.

Worldwide Response

Fans worldwide mourn with grief upon hearing the news of the incident.

Fans posted on Twitter with #PrayForKyoAni, expressing their grief and support to the affected. Most of the Twitter users posted artworks from KyoAni’s anime series and movies and shared how much the company’s art has touched them.

Others called for support by asking fans to purchase merchandise from the company’s site to help KyoAni financially. Another hashtag, #HelpKyoAniHeal, is trending on Twitter.

Sentai Filmworks, an American licensing company that brings Japanese animation and film into the American Market, has set up a GoFundMe account, titled as Help KyoAni Heal, as a response to the incident. GoFundMe’s target goal is $750,000. Within 10 hours, the fundraiser has already raised $724,000.

The President of Sentai Filmworks, John Ledford, shared his thoughts about the incident in the GoFundMe page’s website. He wrote, “Although the situation is still developing, it is clear that our friends at Kyoto Animation (KyoAni) have suffered greatly. In addition to the loss of life, many lives will be forever changed. Like all of you, we wanted to take action to help; however, we can.”

Ledford goes on, stating that many of KyoAni’s works have “inspired, influenced, and entertained us over the years.” Sentai Filmworks is already coordinating with their counterparts in the Japanese anime industry to ensure that the funds they have collected will reach KyoAni and its employees.

KyoAni was founded by couple Yoko and Hideaki Hatta in 1981. Instead of establishing a studio in Tokyo, as most animation studios do, the couple made Kyoto their business’ home.

The company is considered one of the highly-competitive and employee-friendly animation studios. Unlike others, the studio does not pay its animators per frame, but rather as an employee with a monthly salary. KyoAni has indeed embodied its philosophy, such as “Keep our corporation a humanitarian one” and “Do our best.”

Fans have known KyoAni for their high-quality animation pieces. The studio has brought life to A Silent Voice: The Movie and Violet Evergarden. The latter can be streamed on Netflix. Other works, such as K-On!, Sound! Euphonium, and Full Metal Panic? Fumoffu gained popularity and have reached worldwide success.

Fans also noted that KyoAni’s films and TV series often spread the message of love, helpfulness, and hope. In KyoAni’s time of need, many have responded to give back to the beloved animation studio.

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President Trump VS ‘the Squad’: Here’s What Both Sides Are Saying

Both sides have aired their responses on Twitter and press conferences.

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Photo: Michael Vadon | CC BY 2.0

Political figures and celebrities are weighing on President Donald Trump’s tweets over the weekend.

President Trump tweeted a comment about “Democrat Progressive Congresswomen, who originally came from countries whose governments are a complete and total catastrophe.” He goes on, suggesting that these Congresswomen should “go back and help fix the totally broken and crime-infested places from which they came.”

The tweet, which was posted last Sunday, drew both positive and negative criticisms.

Though no names were included in President Trump’s post, the public has identified that his statements were directed to Congresswomen Alexandria Ocasio-Cortez (New York), Ilhan Omar (Minneapolis), Rashida Tlaib (Michigan), and Ayanna Pressley (Massachusetts).

The following Congresswomen have responded to the President’s tweets on their Twitter accounts as well.

The Congresswomen were united in calling out the President’s tweet as “racist.” Reps. Ocasio-Cortez, Tlaib, and Pressley were born in America; while Rep. Omar had gained citizenship when she came to America during her childhood.

Officially, the women responded to the President via a press conference yesterday.

Rep. Pressley asked the public to “not take the bait” to steer the conversation away from the current issues at hand. “This is a disruptive distraction from the issues of care, concern, and consequence to the American people that we were sent here with a decisive mandate from our constituents to work on,” Rep. Pressley said.

Rep. Omar stated that the President is dividing the country. “He would love nothing more than to divide our country based on race, religion, gender, orientation or immigration status because this is the only way he knows he can prevent the solidarity of us working together,” she continues.

Rep. Ocasio-Cortez’s message was directed for children of the US. She shared an anecdote from her childhood memory when her father reminded her that this is her country. The representative goes on to highlight the agenda of Congress to bringing service to the public, especially the children. She reiterates, “No matter what the president says, this country belongs to you.”

Rep. Tlaib echoed the sentiments shared by the others. “We cannot allow this hateful actions, by the President, to distract us from the critical work to hold this Administration accountable to the inhumane conditions at the border,” she emphasized.

All Congresswomen reminded the public about the issues on immigration needs additional focus, more than ever.

President Trump Clarified his Tweets

President Trump addresses the issue in a Made in America showcase on Monday. Reporters asked the President about his statements during the events’ Q&A portion.

The President pointed out that if the Congresswomen are not happy with the country, the lawmakers can leave. “If you’re not happy in the U.S., if you’re complaining all the time, very simply, you can leave. You can leave right now. Come back if you want, don’t come back, it’s OK too. But if you’re not happy, you can leave,” President Trump clarifies.

From the President’s perspective, the lawmakers do not love their country based on the statements the women released. “I’m sure that they’ll be many people that won’t miss them, but they have to love our country. They’re Congresspeople,” the President further adds.

The President also reiterated that he didn’t use any names in his tweets.

Positive and Negative Reaction to the Tweet

Political figures such as Arnold Schwarzenegger, House Speaker Nancy Pelosi, and some Republicans spoke against the President’s Tweets.

Schwarzenegger, the former California governor, issued a statement urging the President to rise above his personal attacks to do his job as America’s leader. “At some point, you have to dial down Donald and dial-up President Trump,” Schwarzenegger wrote. “I know it isn’t easy, but the job you hold is bigger than you. It is bigger than any man or woman. The American people put great trust in you to serve, and it is time to rise to their trust instead of dragging them down and tearing them apart.”

House Speaker Pelosi shared her opinions via a Dear Colleague letter to House Democrats. The Speaker urged his fellow lawmakers to join in “condemning the President’s xenophobic Tweets.

Republicans also shared their disappointment regarding President Trump’s tweets. Senator Lisa Murkowski shared that the comments were “spiteful.” Senator Pat Toomey (Pennsylvania) commented that “We should defeat their ideas on the merits, not on the basis of their ancestry.”

Celebrities like Susan Sarandon, Chris Evans, Janelle Monáe, and Stephen King also tweeted support for the Congresswomen.

Meanwhile, other politicians also came out to defend President Trump’s tweets. Marc Short, Vice President Mike Pence’s chief of staff, reiterated to reporters that the President is “not racist.” He further cited that the President appointed an Asian woman of color in his cabinet, referring to Transportation Secretary Elaine Chao.

Representative Andy Harris (Maryland) emphasized that the President’s message were not racist. “They’re obviously not racist. When anyone disagrees with anyone now the default is to call them a racist and this is no exception,” Harris repeats.

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[Breaking] Democrats Move To Ban Big Techs From Issuing Digital Money

The bill is bluntly named as “Keep Big Tech Out Of Finance Act”

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Photo: Christoph Scholz | Flickr | CC BY 2.0

Facebook’s announcement of its biggest financial venture called Libra has prompted multisectoral discussion among tech companies, banking, and financial ecosystem, as well as government and regulatory official regarding the effect of cryptocurrency and digital money on the global economy.

The polarized discussion has seen lawmakers and executives on the opposite side of the poles arguing the harms of allowing tech giants like Facebook to issue currencies that have the potential of disrupting banking systems around the world.

Some say that it is on its way to a full-blown legal and social battle between regulators and the tech stratosphere. Some even suggest that this war has already begun.

A new draft proposal for the bill, bluntly named as “Keep Big Tech Out Of Finance Act,” that circulates among Democrats majority that leads the U.S. House Financial Services Committee, proves that the US government is not joking about its position against Libra and other similar ventures in the future.

According to the proposed bill, no tech company should be allowed to issue any form of financial services. “A large platform utility may not establish, maintain, or operate a digital asset that is intended to be widely used as a medium of exchange, unit of account, store of value, or any other similar function, as defined by the Board of Governors of the Federal Reserve System,” reads a copy of the bill obtained by Z6Mag.

Furthermore, while the bill does not specify any company, it clearly refers to Facebook, and it’s planned blockchain-based currency, Libra. The “large platform utility” is defined as a technology company with “an annual global revenue of $25,000,000,000 or more” and one that is “predominately engaged in the business of offering to the public an online marketplace, an exchange, or a platform for connecting third parties.” This definition seems to be crafted to include Facebook rather than exclude other companies.

It is also worth noting that the proposed legislation also prohibits “large platform utilities” from affiliation with “persons who are a financial institution.” This further includes Facebook’s proactive workaround against possible future laws that may prohibit them from owning Libra.

Libra is actually not owned by Facebook. Instead, it is governed by a group of companies that are based in Switzerland called the Libra Association with Facebook as one of its founding members.

Nonetheless, the bill is still on its earliest phase yet, and many could happen to move forward. For it to become a law, it still has to withstand the possible opposition by Republicans in both the House and the Senate.

But it seems like the bill has an unlikely ally in the person of Donald Trump as the new proposal came out after Trump criticized cryptocurrencies.

In a series of tweets on Thursday, the POTUS said that he is not a “fan” of cryptocurrencies, asserted that America has only one currency, criticized bitcoin, as well as told Facebook that they need a banking charter if they want to launch their newly announced crypto-based money called Libra.

Trump said cryptocurrencies are not money, and “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.”

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations,” said the president.

According to the President, the dollar is the only currency in America, and Libra, among other cryptocurrencies, are not “real money.”

“We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!” Trump said in a tweet.

Trump’s sentiments echoed similar apprehensions from cryptocurrency critics who have been advocating against the growth of the “volatile” blockchain technology and crypto money. Many argue that those attributes count against the wider adoption of digital currencies.

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