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Crypto Malware Electro RAT Has Been Active for the Past 12 Months

A new form of cryptocurrency malware has been discovered. Known as Electro RAT, the malware remained uncovered for approximately one year before researchers came across it in a new study. Electro RAT Has Remained Hidden for Some Time Electro RAT has been designed to operate on Windows, Mac and Linux systems, making it usable to

The post Crypto Malware Electro RAT Has Been Active for the Past 12 Months appeared first on Live Bitcoin News.

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A new form of cryptocurrency malware has been discovered. Known as Electro RAT, the malware remained uncovered for approximately one year before researchers came across it in a new study.

Electro RAT Has Remained Hidden for Some Time

Electro RAT has been designed to operate on Windows, Mac and Linux systems, making it usable to a wide array of criminals. It has been in use since the first month of 2020, and according to a report published by cybersecurity firm Interzer, it has already made off with several customers’ wallet addresses. Electro RAT also includes three defective apps and has built up a wide array of fake company and social media names as a means of luring more people into the money-stealing trap.

One needs to realize that there is a downside that comes with the establishment of the digital currency space. The bigger the industry gets and the larger prices for leading assets such as bitcoin become, the harder criminals are going to try to make off with funds that are not theirs, so as bitcoin has grown in size over the past 12 months, so have attempts by cyberthieves to take from others.

The mentioned apps take on the form of cryptocurrency software. However, they are dangerous in that they contain trojan horses that ultimately take effect once the apps are installed. This allows the cyber criminals to access customers’ accounts. They can then take note of keystrokes and even take pictures of a person’s screen. They can also upload or download malicious files onto victims’ devices and initiate commands without the person’s knowledge or permission.

Researchers explain in their report:

It is very uncommon to see a RAT written from scratch and used to steal personal information of cryptocurrency users. It is even more rare to see such a wide-ranging and targeted campaign that includes various components such as fake apps and websites and marketing/ promotional efforts via relevant forums and social media.

How to Ensure You’re Safe

The three apps in question are known as “Jamm,” “eTrade” and “DaoPoker.” The scary thing about them all is that up to this point, they have been completely missed and overlooked by many forms of antivirus software. The criminals also posted fake promotions for these apps on special crypto forums that prompted individuals to visit various websites that once visited, would inherently download the malicious code onto their devices.

Researchers claim that the infected pages have been viewed a minimum of 6,700 times. Thus, they have no choice but to believe that as many as 6,700 people could have been compromised. They are now advising crypto users to check their computers and run their systems to see if their devices contain any of the above-mentioned applications. If they are found, users are advised to clean their systems and change all corresponding passwords to prevent further intrusion.

Tags: crypto crime, Electro RAT, Malware Source: https://www.livebitcoinnews.com/crypto-malware-electro-rat-has-been-active-for-the-past-12-months/

Blockchain

How Top U.S universities are privately increasing their Bitcoin holdings

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How Top U.S universities are privately increasing their Bitcoin holdings

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Over the years, the acquisition of Bitcoin amongst investment companies has become a common practice, but the industry looks to be expanding as universities are now securing their spot in the Bitcoin market. According to Coindesk, sources aware of this activity have disclosed that leading U.S institutions have quietly been increasing their Bitcoin assets over the past year.

These are not just any institutions; In fact, these are some of the universities with the highest endowment funds in the United States. Harvard (over $40 billion), Yale (over $30 billion), and Brown ($4.7 billion) are three out of the eight ivy league colleges in the country that are said to be a part of the list. The highly reputable Michigan University ($12.5 billion) is also said to be following in the footsteps of the Ivies. Apparently, Coinbase has been the middleman facilitating the transactions. It was revealed that these institutions have been buying directly from the Coinbase exchange. 

The spokesperson who asked to be anonymous told Coindesk that there are a sizeable number of institutions currently pouring funds into crypto assets. “There are quite a few. A lot of endowments are allocating a little bit to crypto at the moment.”

But the interest in cryptocurrencies began in 2019 and Coinbase is being speculated to have held the funds for the institutions for as long as 18 months, according to the source, who notes that said institutions are likely cashing in on a decent return on investment and could possibly make their Bitcoin acquisitions public this year. The source is quoted saying;

“It could be since mid-2019. Most have been in at least a year. I would think they will probably discuss it publicly at some point this year. I suspect they would be sitting on some pretty nice chunks of return.”

Another source who is a part of the crypto hedge fund industry asserted that public pension plans are soon to begin allocations in the coming months.

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 “We are seeing defined benefit pension plans getting close to making allocations. We are seeing public pension plans getting close to making allocations,”

Ari Paul, the cofounder of BlockTower Capital chimed in saying; “If I had heard that three years ago, I would have said it was wrong,”.

“But a lot of institutions are now comfortable with Bitcoin. They understand it and can just buy it directly, as long as it’s from a regulated entity like Coinbase, Fidelity or Anchorage.”


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/how-top-u-s-universities-are-privately-increasing-their-bitcoin-holdings/

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Blockchain

Solana targets growth in Southeast Asia with a $5M grants scheme

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Solana has turned its focus towards decentralized finance in Southeast Asia with a new $5 million development fund.

The Solana Foundation created the fund in partnership with Vietnam-based investment firm Coin98 Ventures, enabling regional startups building on Solana to receive technical, marketing, and community support, as well as up to $100,000 in funding. The fund will run for the next three years with a specific focus on projects within the DeFi and Web3 spaces, including marketplaces, exchanges, and other DApps or tooling.

This is one of the first grants specifying a core region of interest, with a particular focus on Vietnam. Solana Foundation Executive Director Eric Williams:

“Our goal is to create the optimal conditions for developers in Southeast Asia to build amazing things on Solana.”

According to the announcement, “project teams may be distributed, but must have a physical presence in Southeast Asia.” The announcement makes it clear that if they do not have a presence there, they will not qualify for the fund.

Williams explained that the foundation partnered with Coin98 Ventures because of the technical and community support they can provide, adding that the key to this fund being successful is the combination of financial and technical support:

“Sometimes hurdles can be solved with extra money, other times they cannot.”

DeFi is gaining traction within the Solana ecosystem, driving trading volume to all-time highs earlier this month.

Using treasuries and fund campaigns to boost developer ecosystems within blockchains is common with programs already available for a range of blockchain networks including Bitcoin, Ethereum, OkCoin, and Polkadot.

In September last year, Polkadot received one of the largest fund boosts to date with Digital asset development company RockX investing $20 million to support the Polkadot ecosystem over the next five years.

Source: https://cointelegraph.com/news/solana-targets-growth-in-southeast-asia-with-a-5m-grants-scheme

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US SEC charges crypto trader ‘Coin Signals’ in $5 million fraud case

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United States Securities and Exchange Commission (SEC) charged a cryptocurrency trader for allegedly being involved in a ponzi scheme defrauding more than $5 million from over 170 investors. The accused, Jeremy Spence, who goes by the name “Coin Signals,” was charged in Manhattan Federal Court for “soliciting funds” for various crypto funds that he operated. 

Federal authorities claimed that Spence operated a Ponzi scheme and that his offenses include “commodities fraud and wire fraud.” According to SEC, investors transferred Bitcoin and Ethereum to Spence, so that he could invest the assets on their behalf.  

Federal Bureau of Investigations (FBI) Assistant Director-in-Charge William Sweeney Jr claimed that Spence enticed investors by giving them false information about the “success of his investment platform.” The trader allegedly used money from new investors to pay off others in order “to keep his plan moving” which the FBI Director said was “a  typical marker of a Ponzi scheme.”

The official complaint read:

Spence solicited investments for several Funds, the largest and most active of which were the Coin Signals Bitmex Fund, a/k/a the “CS Mex Fund,” the Coin Signals Alternative Fund, a/k/a the “CS Alt Fund,” and the Coin Signals Long Term Fund. 

Manhattan US Attorney Audrey Strauss alleged that Jeremy Spence lured investors to his crypto “investment scam” by promising returns of up to 148%.  The Attorney further said:  

Spence’s investments not only failed to reach his audacious claims, they consistently lost money, leaving a $5 million void in his clients’ crypto accounts.

According to the Commission, Spence was arrested this morning in Rhode Island. He could face nearly 30 years in prison if authorities convict him on all charges. 

Source: https://ambcrypto.com/us-sec-charges-crypto-trader-coin-signals-in-5-million-fraud-case

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