{"id":1005,"date":"2022-01-26T13:52:59","date_gmt":"2022-01-26T20:52:59","guid":{"rendered":"https:\/\/wpsites.ucalgary.ca\/isec-601-f21\/?p=1005"},"modified":"2022-01-26T13:53:03","modified_gmt":"2022-01-26T20:53:03","slug":"crypto-security-and-hacking","status":"publish","type":"post","link":"https:\/\/wpsites.ucalgary.ca\/isec-601-f21\/2022\/01\/26\/crypto-security-and-hacking\/","title":{"rendered":"Crypto Security and Hacking"},"content":{"rendered":"\n
\"Buy\/Sell<\/figure>\n\n\n\n

Intro<\/h2>\n\n\n\n

In this blog I will try to inform everyone current issues involving cryptocurrencies while offering some advice in the end to help address this. This is not nearly enough for those interested in crypto but it is a start. \ud83d\ude42<\/p>\n\n\n\n

The Fake Amazon Token<\/h2>\n\n\n\n
\"screenshot-2022-01-21-at-08-14-51.png\"<\/figure>\n\n\n\n

Crypto may seem easy to get into with big names like Bitcoin and Ethereum having mass media representation, however those who do not take time to research are falling victim to numerous scams. One scam included using Amazon’s name to pressure victims into trading Bitcoin for the fake Amazon token. The scammers would link a fake CNBC article in crypto focused groups, and users would then have 30 seconds to read the article before being redirected to a page which was offering pre-sale tokens[1]<\/sup>. With a progress bar showing that tokens were almost all sold out, victims were pressured to make hasty decisions. It is important to note that the website victims were redirected to was fully functioning, showing the level of authenticity scammers were putting forth.<\/p>\n\n\n\n

Hacking is Another Major Fear<\/h2>\n\n\n\n
\"North<\/figure>\n\n\n\n

The crypto market is also at major risk to hacks. North Korea has been linked to two crypto hacking schemes in the last week with one being the ATP group BlueNoroff\u00a0[2]<\/sup>. BlueNoroff sent crypto start-ups emails for business deals with a file that, when opened, would create a Windows backdoor for the hackers. The backdoor would then steal user information over a few weeks to eventually steal cryptocurrency. BlueNoroff targeted victims from many major countries including Russia, Singapore, China, the U.S., etc. The other North Korean hacking scheme is funded through the regime itself. In 2021 the hacking operating netted them $400 million[3]<\/sup>. The state-sponsored hackers used many methods including phishing emails and malware towards crypto exchanges and investment firms. The stolen crypto went through many steps making it difficult to trace its origins before ultimately being exchanged for cash.<\/p>\n\n\n\n

Why is This Important?<\/h2>\n\n\n\n
\"9,147<\/figure>\n\n\n\n

With scams being international, there is a growing call for global action and rules to be set upon the new market. Russia recently cracked down hard upon hackers found within its borders, which was very interesting as Russia was seen as a safe haven by cybercriminals to attack victims without fear of punishment[4]<\/sup>. Many people are concerned that Russia’s new recommendations are cracking down upon crypto hackers to maintain control over the emerging crypto economy. The recommendations may appear to punish those in local markets within Russia, but it is also limiting the growth of crypto within the economy. With the Bank of Russia recommending crypto mining be shutdown, as well as more penalties for the use of cryptocurrencies to make direct purchases, we are beginning to see how different countries are addressing the emerging issues of crypto. <\/p>\n\n\n\n

Key Takeaways and Advice<\/h2>\n\n\n\n
\"236<\/figure>\n\n\n\n

Crypto is growing at a tremendous rate as more people are buying into the idea that it may just not just be a fad. However, with this relatively new market many people are put at risk due to scams and hacks. It is important for people looking to get into crypto to take time and do research before diving in. With global regulations still being developed, the future is uncertain, so information is the key to success in crypto. Since the economy is young, it is important to understand and protect yourself from people hoping to exploit you. I cannot stress the importance of time and research for cryptocurrencies. Looking at what scams and hacks have worked on others in the past is a great way to avoid them happening to yourself. I hope this blog gave some insight for those looking into crypto as to what some of these scams\/hacks are. Once again, take your time and do your research! \ud83d\ude42<\/p>\n\n\n\n

Resources:<\/h2>\n\n\n\n
  1. https:\/\/www.zdnet.com\/article\/amazon-fake-crypto-token-investment-scam-steals-bitcoin-from-victims\/?&web_view=true<\/li>
  2. https:\/\/cyware.com\/news\/bluenoroff-apt-group-eyeing-crypto-startups-35c36601<\/li>
  3. https:\/\/cyware.com\/news\/north-korean-hackers-stole-crypto-worth-400-million-in-2021-2a6bc28c<\/li>
  4. https:\/\/www.scmagazine.com\/analysis\/policy\/will-ransomware-gangs-see-flow-of-cash-throttled-by-russia-cryptocurrency-restrictions?&web_view=true<\/li><\/ol>\n\n\n\n

    <\/p>\n\n\n\n

    <\/p>\n","protected":false},"excerpt":{"rendered":"

    Intro In this blog I will try to inform everyone current issues involving cryptocurrencies while offering some advice in the end to help address this. This is not nearly enough for those interested in crypto but it is a start. \ud83d\ude42 The Fake Amazon Token Crypto may seem easy to get into with big names … <\/p>\n

    Continue reading “Crypto Security and Hacking”<\/span><\/a><\/p>\n","protected":false},"author":432,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[15],"tags":[16,31],"class_list":["post-1005","post","type-post","status-publish","format-standard","hentry","category-cpsc-329-602-w22","tag-cpsc329","tag-crypto","entry"],"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"Karnveer Buttar","author_link":"https:\/\/wpsites.ucalgary.ca\/isec-601-f21\/author\/karnveer-buttar\/"},"_links":{"self":[{"href":"https:\/\/wpsites.ucalgary.ca\/isec-601-f21\/wp-json\/wp\/v2\/posts\/1005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wpsites.ucalgary.ca\/isec-601-f21\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wpsites.ucalgary.ca\/isec-601-f21\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wpsites.ucalgary.ca\/isec-601-f21\/wp-json\/wp\/v2\/users\/432"}],"replies":[{"embeddable":true,"href":"https:\/\/wpsites.ucalgary.ca\/isec-601-f21\/wp-json\/wp\/v2\/comments?post=1005"}],"version-history":[{"count":1,"href":"https:\/\/wpsites.ucalgary.ca\/isec-601-f21\/wp-json\/wp\/v2\/posts\/1005\/revisions"}],"predecessor-version":[{"id":1012,"href":"https:\/\/wpsites.ucalgary.ca\/isec-601-f21\/wp-json\/wp\/v2\/posts\/1005\/revisions\/1012"}],"wp:attachment":[{"href":"https:\/\/wpsites.ucalgary.ca\/isec-601-f21\/wp-json\/wp\/v2\/media?parent=1005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wpsites.ucalgary.ca\/isec-601-f21\/wp-json\/wp\/v2\/categories?post=1005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wpsites.ucalgary.ca\/isec-601-f21\/wp-json\/wp\/v2\/tags?post=1005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}