Data Security News Headlines 22nd December 2017

  1. Fake Bitcoin Wallet Apps Found on Google Play Store

Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. Millions of users are using different bitcoin app to know the current price of Bitcoin and for transaction purpose. According to the latest report In October this year, it was reported that a Monero mining malware was hiding behind three utility apps and used the computing power of Android devices to generate digital coins. All three fake wallet apps tricked users into sending bitcoin payments to attacker-specified bitcoin addresses. The researchers dubbed these type of apps as “PickBitPocket.” An app infected with PickBitPocket works in such a way that it poses as an authentic Bitcoin wallet but instead are set up to trick victims into providing the attacker’s bitcoin address instead of the seller’s. The three fake bitcoin apps named as Bitcoin Mining, Blockchain Bitcoin Wallet Fingerprint, and Fast Bitcoin Wallet. All these apps are removed by Google.

Cyber Security Tips:  Users are strongly recommended that uninstall the above mentioned three apps if you already installed, do not install unnecessary apps, Do not install apps from third-party stores and stay vigilant while downloading an app from Google Play Store, Do not save important passwords on your device, Back up your phone on regular basis and Use an antivirus program.

  1. EtherDelta cryptocurrency exchange hacked in fake website scam

Cybercriminals have their eyes set on mining cryptocurrencies and exploiting cryptocurrency exchanges for their malicious purposes. According to reports, another popular cryptocurrency exchange EtherDelta has been hacked in such a way that users are sending their tokens to the hacker considering that the exchange is receiving them. At least 308ETH (equivalent to $266,789) are stolen while tokens worth hundreds of thousands of dollars are currently at risk. EtherDelta is safe because the hackers took over Etherdelta’s DNS server and presented an unauthentic version of the website to the visitors. According to the investigation, when a user visited EtherDelta’s website on Wednesday afternoon between 1:40 p.m. ET and 8 p.m. ET he/she was actually seeing an unauthentic but seemingly original version of the site. The received tokens were moved to another address at 1:30 a.m. ET on Thursday. EtherDelta confirmed the attack via Twitter. The company urges that users stop using the site as the site was unsafe to be used.

Cyber Security Tips:  Users are strongly recommended that avoid visiting site, until issue fix by the company.

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