Category: Fraud

UPDATED The DAO is Under Attack, Millions of Ethers Stolen

The DAO is suffering from a major, sophisticated attack. A vulnerability in the SplitDAO() function enabled an attacker to drain ether funds from the smart contract, 3.5 million ETH have been lost at the time of writing this article. Ethereum traded as low as $11.51 today after a market crash. The sudden loss in valuation was the result of a sophisticated attack targeting The DAO, approximately 3.5 million ether have been withdrawn …
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Websites paid over $100,000 in BTC to a DDoS group that did not act on its threats

Recently, ransomware occurrences carried out in the form of distributed-denial-of-service attacks (DDoS), have become quite common, considering the fact that in less than two months, online businesses from all around the world paid more than $100,000 to these scammers. However, a recent Cloudflare report states that not all these claims are real, and that most of the times, DDoS attacks do not even take place. According to this, a group …
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Why Criminals Shouldn’t Use Bitcoin for Illegal Activities

Ever since its birth in 2008, bitcoin has been involved in various hacking attacks, data breaches and illegal activities. From 2014 to 2015, the number of hacking groups and criminals using bitcoin to demand ransoms increased to a point in which law enforcement agencies had to step in to regulate fraudulent transactions. Because of the growing use of bitcoin in illicit transactions, the mainstream media has always portrayed bitcoin negatively …
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Cryptsy served us a Cease and Desist when we tried warning users of problems

Back in October, 2015 when the public was still unaware of Cryptsy’s underlying problems we wrote an article warning users of depositing funds to Cryptsy because they might face potential problems withdrawing those funds. Due to numerous posts on Bitcointalk we decided to bring user’s complaints to light and shed light on potential problems that Cryptsy was facing. We titled the article Do Not Deposit to Cryptsy – gone gull MtGox. …
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