Category Archives: ether

Bitcoin hype pushes hackers to stash their money in lesser-known cryptocurrencies

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Cybercriminals are increasingly moving away from bitcoin as their preferred digital currency in favor of lesser-known cryptocurrencies because of prolonged transaction delays, surging transaction costs and general market volatility, experts tell CyberScoop. Although cybercriminals have been slowly moving away from bitcoin for months, researchers say a noticeable shift towards alternative coins — such as Monero, Dash and ZCash — occurred when bitcoin’s value skyrocketed over $19,000 for one bitcoin in mid-December. The price has drastically fluctuated between $12,000 and roughly $19,000 since then. “Many cybercriminals emulate the operational best practices of legitimate businesses in order to minimize their overhead costs and maximize returns, and in the case of high transaction costs with bitcoin, it makes perfect sense to look at other coins with smaller overheads,” said Richard Henderson, a global security strategist with endpoint cybersecurity firm Absolute. Experts say this shift does not necessarily mean that criminals’ attention is fading from bitcoin, […]

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Hundreds of Millions in Digital Currency Remains Frozen

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Between $150 million and $300 million in digital currency called ether remains inaccessible today after a user said he “accidentally” triggered a vulnerability that froze the funds in the popular Parity wallet. Continue reading Hundreds of Millions in Digital Currency Remains Frozen→

Ethereum: GPU Mining Is Back But For How Long?

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By now, everyone and their dog has at least heard of Bitcoin. While no government will accept tax payments in Bitcoin just yet, it’s ridiculously close to being real money. We’ve even paid for pizza delivery in Bitcoin. But it’s not the only cryptocurrency in town.

Ethereum initially launched in 2015 is an open source, it has been making headway among the 900 or so Bitcoin clones and is the number two cryptocurrency in the world, with only Bitcoin beating it in value. This year alone, the Ether has risen in value by around 4000%, and at time of writing …read more

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Hackers steal $32 million in Ether cryptocurrency hack

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Hackers have stolen $32 million worth of Ether, a popular and increasingly valuable cryptocurrency, by exploiting a critical security vulnerability in wallet software that allowed an attacker to steal over 153,000 Ether. The theft is visible on Ether’s blockchain here, according to Gavin Wood, a co-founder of Ethereum, the software behind the currency. The attack began late on Tuesday and continued on Wednesday in a total of three transactions. When the attack was finally noticed, a group of white hat hackers used the same exploit to drain money from other vulnerable wallets in order to protect them from the theft. The money saved totaled 377,000 ETH worth over $75 million. “The white hat group were made aware of a vulnerability in a specific version of a commonly used multisig contract,” the group wrote. “This vulnerability was trivial to execute, so they took the necessary action to drain every vulnerable multisig they […]

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