Dec 23, · Over bitcoin were taken, worth $7 million, and transferred to an anonymous wallet. Smaller amounts of XRP, Zcash, USDT, Ethereum Classic and Ethereum were also stolen. Apr 14, · Over the past 15 months, more than $50 million in cryptocurrency has been stolen from accounts like Terpin’s. He kept a portion of his virtual cash in a digital vault called a “native wallet. Dec 07, · 50 Million Bitcoin Stolen. Thread starter BigJim#; Start date Dec 6, ; B. BigJim# Gold Member. Gold Chaser. Sr Site Supporter. Dec 6, #1. Joined Mar 31, Messages 4, Likes 15,
50 million bitcoin stolenBitcoin Wallet Exploit Has Caused $25 Million Stolen to Date - Decrypt
A new investigation has detailed the process behind the exploit and the extent of the damage inflicted on users to date. The following day, a separate user claimed to have lost The same exploit has been in use by attackers since , according to reports from purported victims.
According to the investigation, users of an older version of Electrum may be prompted during use to update the app, however the security update is coming from an outside attacker rather than Electrum developers. From there, attackers can launch a prompt that tells users they must update the app to send a transaction, but it points them to malware instead of a legitimate update. Newer versions of Electrum have implemented fixes to account for the exploit, including blocking certain server pop-up prompts and also blacklisting servers, but older versions of the wallet are more susceptible to attackers as evidenced by these recent reports.
Electrum developer Thomas Voegtlin told Decrypt in August that the team has been aware of the phishing attack for some time and has warned users via its website. Voegtlin also commented on GitHub last month , and suggested that any affected users report attacks to the police.
Read on the Decrypt App for the best experience. By Michael Kaplan. April 13, pm Updated April 15, pm. At on a Sunday afternoon in January , Michael Terpin was on his laptop, prepping for a conference in Las Vegas. His iPhone buzzed with an incoming message.
Google was notifying him that his email passcode had been changed. It was a race against time to stop a group of cyber-bandits. To steal millions of dollars in virtual cash that Terpin, a pioneer in the field of cryptocurrency, had amassed and stashed online.
Within 30 or so minutes, as Terpin frantically searched through some 50 crypto accounts to confirm they were secure, the thieves struck gold on one that he had yet to check.
Terpin was the victim of a cutting-edge scam known as SIM swapping. Usually, the scam victimizes those who own Bitcoin and other cryptocurrency. Difficult to tax or trace, crypto has become the payment of choice for kidnappers, drug dealers, smugglers and gamblers. The hackers were able to cobble the code together once they hijacked his phone and wormed into his email — both of which were shockingly easy to do.
One of the thieves then contacted Google and claimed to have forgotten his Gmail code. They changed the code, freezing Terpin out. Forty-eight hours later, said Terpin, the thieves had laundered the crypto and presumably divvied up their haul. Truglia, who grew up in New Jersey, was, at the time of the hit, a registered student at Baruch College. At the same time, Nick showed me two thumb drives. Several years ago, cool social media handles became hot commodities, said Erin West, a cyber-savvy deputy district attorney in Santa Clara County, Calif.
They deployed the SIM swapping technique, perfecting it as they focused on taking over Twitter and Instagram accounts just as they would one day commandeer online wallets. The most popular social media names were the so-called OG handles — A or evil or — so simple, they had to have been staked as soon as social media took off. Sometime around , cyber-account crackers upped their game and began pillaging digital fortunes. Technologically, it was an easy leap.
I would bet my life on it, actually. But the area encompassed dozens of city blocks. Most every online business records the number when it has contact with a customer. Tarazi and his team discovered that Ortiz lived with his mother in a modest Boston home, about a mile and a half from Harvard. They busted him at Los Angeles International Airport.
He was easy to spot, dressed head-to-toe in Gucci. By the time Tarazi and his team finished interrogating Ortiz, the straight-A student was in tears, said the investigator.