Tag Archive for: Price

As Bitcoin price surged, it fueled rise cyberattacks, researchers say

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Michael Saylor and Defiance ETF CIO Sylvia Jablonski discuss the crypto space on ‘Making Money with Charles Payne’

The rapid rise in the price of Bitcoin is a driving force behind a rise in cybercrime, according to new research.

As the price of Bitcoin surged almost 400% between October 2020 and May 2021, the number of cyberattacks rose 192%, according to Barracuda Networks, which offers products and services that protect against malicious software attacks.

Cryptocurrency has long been a favorite for cybercriminals. And Bitcoin historically is the go-to currency. 

Colonial Pipeline, which operates a critical pipeline for refined oil products, paid ransomware extortionists roughly 75 Bitcoin, or about $4.4 million at the time of the transaction, to recover stolen data – though the majority of that ransom was later recovered by the Justice Department.

The rapid rise in the price of Bitcoin is a driving force behind a rise in cybercrime, according to new research.

MUSK GIVES DOGECOIN PRICE BOOST WITH LATEST GODFATHER-INSPIRED TWEET

And a major meat supplier, JBS, said that it paid $11 million in Bitcoin to hackers as a result of a ransomware attack.

The rise in cyberattacks cited by Barracuda research involved fraudulent email or “impersonation,” which has always been an effective tool for hackers.

“Instead of impersonating regular banks, hackers are now impersonating digital wallets and crypto-related apps with fake security alerts to steal login credentials,” Barracuda said in a statement. 

“Cryptocurrency seems to be a perfect currency for criminal activity — it’s unregulated, difficult to trace, and increasing in value. All of this provided criminals with additional motivation to attack,” according to Barracuda.

Another trend playing into criminals’ hands is work from home.

“More data is now created and stored in collaboration apps, and more information is exposed, creating more targets and potential value for criminals,” Barracuda said.

And these days you don’t need to be a computer genius to launch a ransomware attack. Ransomware-as-a-service – which allows you to essentially hire someone to carry out an attack for you — is a red-hot business on the dark web.

FEDS…

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Reeling from post-hack price slump, Easyfi reveals community compensation plan

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After a devastating hack, a cross-chain decentralized finance (DeFi) protocol has revealed today a temporary compensation plan for token holders and investors impacted by one of the largest exploits in DeFi history. 

In a Tweet today, EasyFi announced their “Interim Compensation Plan,” a multi-stage process that includes immediate payments, IOU tokens, and incentive programs aimed at victims of the attack.

The hack, which took place 19 April, is considered to be among the largest in DeFi history, with $6 million in stablecoins and 2.98 million EZ tokens worth upwards of $120 million lost at the time of the attack. The hacker was in a complicated position, however, as after exploiting the protocol they owned upwards of 30% of the supply of EZ tokens and there was limited liquidity with which to unload them. The token “hardforked” to EZ 2.0 a week later, rendering the attacker’s remaining tokens effectively worthless. 

In a Tweet from his personal account, EasyFi founder Ankitt Gaur confirmed that the hack was the result of a “targeted attack on the founder’s machine/metamask to access admin keys and execute the well-planned hack.” This attack vector bears similarities to a 2020 hack on the personal computer of Hugh Karp, the founder of Nexus Mutual, who lost $8 million.

An expert from hack and exploit publication Rekt noted that the theft may have been the result of lax security practices, in that a single individual was in possession of the keys to the treasury, as opposed to being secured in a wallet with precautions against this type of hack such as a multisignature scheme or timelocked transactions.

In their compensation plan blog post, EasyFi characterizes the attack as “well-planned” and “sophisticated.”

Regardless of the cause, the efforts to compensate victims is multifaceted. Per their post, 25% of lost funds will be distributed to…

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Moto G10 Power goes on sale today: price, specs, and availability

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Moto G10 Power will go on sale in India starting today. The device was launched along with the Moto G30 last week in the country. The smartphone will go on sale via Flipkart starting at noon. 

The Moto G10 Power is an India exclusive phone which comes with a big battery. The Moto G30 and Moto G10 were both unveiled in Europe a few weeks back. While the Moto G30 arrived in India as it is, the Moto G10 got an additional moniker “Power” to it. 

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Logitek launches new digital desk that breaks the $10K price barrier

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At this week’s SMPTE09 Exhibition there were a few new radio products on show along with plenty of television and web broadcast technology. One interesting new product was a mini Logitek studio panel that is aimed at small stations and community radio stations which want to move to digital. Steve Ahern reports from SMPTE for radioinfo about this new digital desk that breaks a significant price barrier.

Logitek Australia’s Managing Director Paul Dengate says his company’s new Jetstream Mini desk and Jetstream router (pictured) will offer community broadcasters a digital studio solution for under $10,000, pitching this desk much below Logitek’s larger products and those of other competing brands.

These days, any digital studio desk is really a control surface, more like a mouse, than the old analog desks we used to know.

Analog desks do all the work inside them, switching and amplifying signals through circuitry in each fader.

Digital surfaces tell a computer how and where to switch the audio, with the work being done inside a computer server, usually located in the rack room. Some other brands do have models that integrate the computer functions inside the one box (see other story).

There are many advantages, and some disadvantages, with digital desks. The two most significant advantages are: the ease of installation, in this case basically plugging in one computer cable; and the fact that the signal is already digital and can be sent to digital transmitters or audio streamers more easily than an analog desk’s signal.

The Jetstream equipment consists of an IP based Router box with a built-in computer inside it, a panel and a control screen (all pictured below right).

The router sits in the rack room and does all the work, providing audio I/O (inputs/outputs), mixing, processing and other functions. It can be paired with any of the Logitek range of control surfaces (Artisan, Mosaic, etc), but the model on show at SMPTE paired it with the cost effective JetStream Mini model.

IP based desks and router engines have been around for a while, but this new generaton of the technology is designed to take advantage of new network protocols that make the system easy to set up,…

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