How Hackers Exploited Twitter’s VPN Problems, Obtained God Mode and Took Over Accounts | News Bitcoin News

How Hackers Exploited Twitter's VPN Problems, Obtained God Mode and Took Over Accounts | News Bitcoin News

How Hackers Exploited Twitter's VPN Problems, Obtained God Mode and Took Over Accounts

An investigation by the New York State Department of Financial Services has revealed how the great Twitter hack in July happened. A total of 130 high-profile, celebrity accounts were compromised and many were used to tweet about a bitcoin giveaway scam.

The New York State Department of Financial Services (NYDFS) released its Twitter investigation report last week. It explains how the massive Twitter hack on July 15 happened, resulting in many high-profile accounts being accessed and used to tweet about a bitcoin giveaway scam.

A NYSE-listed technology company with a market cap of $40 billion, Twitter has more than 330 million total monthly active users and over 186 million daily active users, including over 36 million (20%) in the U.S., the NYDFS detailed.

The hack began on July 14 when one or more hackers called several Twitter employees, claiming to be calling from the IT department’s help desk about Twitter’s VPN, which a number of employees reported having problems with. “Employees had frequent problems with the VPN connections to the network,” the report details.

Twitter’s VPN problem ballooned when the company shifted to remote working in March due to the Covid-19 outbreak, which put a strain on the company’s technology infrastructure, resulting in frequent VPN problems. “The hackers took advantage of these issues and pretended to be calling from Twitter’s IT department about a VPN problem,” the NYDFS stated, elaborating:

The hackers’ claims were far more credible – and ultimately successful – because Twitter’s employees were all using VPN connections to work and routinely experiencing VPN problems that required IT’s assistance.

The hackers directed the employees to a phishing website that looked identical to the legitimate Twitter VPN website and was hosted by a similarly named domain. “As the employee entered their credentials into the phishing website, the hackers would simultaneously enter the information into the real Twitter website. This false log-in generated an MFA notification requesting that the employees authenticate themselves, which some of the employees did,” the NYDFS explained. “While some employees reported the calls to Twitter’s internal fraud monitoring team, at least one employee believed the hackers’ lies.”

The report details that Twitter maintains “internal account management tools” to manage a range of user account issues, which the hackers gained access to. A number of authorized Twitter employees have a username and password to access these internal account management tools. According to the report:

Overall, 130 Twitter user accounts were compromised during the Twitter hack. Of those, 45 accounts were used to send tweets. Twitter believes that for up to 36 of the 130 targeted accounts, the hackers also accessed DM inboxes.

During its investigation, the NYDFS conducted a survey and learned that 15 cryptocurrency companies blocked transfers to the hackers’ addresses posted on Twitter, and seven did not. Four crypto companies actively blocked their users’ attempts to send BTC to the hackers’ bitcoin addresses. In particular, the NYDFS found:

Coinbase blocked approximately 5,670 transfers, valued at approximately $1,294,000. Square blocked 358 transfers, valued at approximately $51,000. Gemini blocked two transfers, valued at approximately $1,800. Bitstamp blocked one transfer, valued at approximately $250.

What do you think about this Twitter hack? Let us know in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Source: news.bitcoin.com

Author: News

by
Kevin Helms


Bitcoin shatters $35K with fresh ATH

Bitcoin shatters $35K with fresh ATH

Bitcoin is rallying again, pushing into new highs above $35,000.

Published on January 5, 2021

Bitcoin is continuing to set new price records, breaking above $35,000 for the first time ever on Jan. 5.

After setting its past record of roughly $34,800 on Jan. 3, BTC posted a fast retracement down to $28,000 the following day.

However, the crash was short-lived, with BTC quickly recovering, and pressing into new all-time highs above $35,800 around 4.30am (UTC).

Bitcoin has now gained roughly 80% since breaking into new highs on Dec. 16, and is up 22% in seven days.

The new record was posted one day after the U.S. Office of the Comptroller of the Currency published guidance greenlighting federally chartered banks to use stablecoins and public blockchains for settlement

Ethereum has also pushed back above $1,100 alongside BTC’s latest push, and has gained 44% over the past week.

Source: news.iobanker.com

Author: ByioBanker


1,000 Decade-Old Dormant Bitcoins Moved Today on Bitcoin's 12th Anniversary

1,000 Decade-Old Dormant Bitcoins Moved Today on Bitcoin’s 12th Anniversary

12 years ago, Bitcoin’s inventor Satoshi Nakamoto launched the network after revealing the cryptocurrency concept via the white paper a few months prior. At approximately 18:15:05 UTC, the network launched its first block and since then, over 664,000 bitcoin blocks have been mined. Moreover, on the 12th anniversary of the network coming to life, a large string of 2010 block rewards started moving after more than ten years of sitting idle.

Cryptocurrency proponents are celebrating the invocation of the first computational network to solve the Byzantine Fault dilemma created by the pseudonymous inventor Satoshi Nakamoto. The birth of the Bitcoin (BTC) network is quite special and over the last 12 years, the crypto asset has become extremely valuable reaching a high today on January 3, at $34,800 per unit.

After Satoshi shared his cryptocurrency concept to a few interested individuals online on Halloween 2008, a little more than three months later he launched the hardcoded block reward, otherwise known as ‘block zero’ or the ‘genesis block.’

Block zero or the genesis block has the usual 50 bitcoin reward, but these particular bitcoins can never be spent. The genesis block has two leading hex zeroes as well, which was a common characteristic for early blocks back then. Furthermore, the infamous block zero also contained a message that can be found in the block’s coinbase parameter.

What cryptocurrency will become the main one in a year?
BitcoinEthereum

This first blockchain message etched into Satoshi’s hardcoded bitcoin block says:

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

The genesis block today not only has the 50 bitcoin block reward that cannot be spent, but also people have sent small fractions of bitcoin to the address ever since it was launched. The genesis block address has seen approximately 2,722 transactions and there’s now a cumulative total of 68.35 BTC sitting idle.

These days, bitcoin blocks are quite predictable and are processed every 10 minutes or so by miners. But the block (1) that followed the hardcoded genesis block did not occur until seven days later. The first transaction with the software programmer, Hal Finney, took place in block 9 or three whole days after block 1 was mined.

Now Satoshi Nakamoto also spent time with the community, all the way until December 2010. It is well known that the inventor also mined the crypto asset during those months he spent curating the network with the community.

Interestingly, it is assumed by various academic papers that Nakamoto had mined anywhere between 700,000 to 1.1 million BTC during his tenure kickstarting the network. The inventor did this allegedly with a single Windows-based personal computer. It is also assumed that Nakamoto has not spent any coins since they were initially mined, and his stash of a million bitcoin has sat idle since they were issued.

Quite a lot of old coins that stem from coinbase rewards have not been spent and they have sat dormant for well over ten years. For example, the onchain researchers from Glassnode tweeted on December 18, 2020, that “1.78 million bitcoins have never left their miner address.”

Interestingly, last year in 2020, news.Bitcoin.com discovered an old-school miner or miners who spent a consecutive number of 2010 block rewards in strings. Every string spent last year, has been around 20 to 21 block rewards from 2010 and these coins never moved once since the day they were issued.

Surprisingly, the mystery miner or miners have spent another large string of ‘sleeping bitcoins’ from the Satoshi-era today on the 12th anniversary of the Bitcoin network launch. On January 3, 2021, precisely 20 block rewards from 2010 were spent at block height 664,263. The old school miner from 2010 sent the 1,000 bitcoins worth over $33.9 million to a BTC address that started with “35grPirp.”

After the initial consolidation, the 1,000 BTC was split up into fractions following the exact same patterns news.Bitcoin.com discovered with all the other 2010 block strings. Today’s 20 block spend was caught by Btcparser.com, and a visual perspective of the string of 2010 blocks spent on theholyroger.com’s “Satoshi Bags Tracker.”

Usually, this miner, if it is one single entity will spend one more 2010 block a little later on in the day to make the tally 21 block rewards spent. Decade-old block reward spends from the ‘Satoshi era’ are quite rare, but they have been picking up steam since 2020.

It is also worth noting that the old school miner always spends the corresponding bitcoin cash (BCH) block rewards too, but not the bitcoinsv (BSV) rewards. The only time the miner spent block rewards on all three chains was the 21 block rewards from 2010 spent on March 11, 2020, the day before the infamous ‘Black Thursday.’

Today’s block spends from 2010 are quite special, seeing how they were transferred on Bitcoin’s birthday, while the crypto asset also touched another all-time price high as well.

We really don’t know if these coins were sold or plan to be sold on the open market. The technical term “spent” simply means the coins left the original address they stemmed from, and it doesn’t necessarily mean the coins are being sold on exchanges. Moreover, the term “Satoshi-era,” also doesn’t mean the coins derived from Nakamoto either, as the term simply means the inventor was around during this time period.

What do you think about the 12th year anniversary of the Bitcoin blockchain? Let us know what you think about this subject in the comments section below.

1000 BTC, 12 years, 12th anniversary, 20 Blocks, 2010 Block Reward, Bitcoin (BTC), Bitcoin 12, Bitcoin Network Launch, Bitcoin’s Inventor, Bitcoins, Block Zero, Cryptocurrency, Genesis Block, Hal Finney, Satoshi Nakamoto, sleeping bitcoins, White Paper

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Source: news.bitcoin.com

Author: News

by
Jamie Redman


Bitcoin News Roundup for Jan. 5, 2021

Bitcoin News Roundup for Jan. 5, 2021

Add Markets Daily to your Alexa Flash Briefing here

This episode is sponsored by Nexo.io.

Analysts say the bitcoin market now looks less overheated than it did on Monday.

Coinbase Pro exchange registered an outflow of over 35,000 bitcoin worth more than $1 billion early Saturday.

Banks can act as nodes on a blockchain or conduct payments using stablecoins, the OCC said Monday.

With sales of physical art down because of the coronavirus pandemic, NFT-based artworks have taken off in 2020.

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Source: news.marketcap.com

Author: admin


Report: Bitcoin could rival gold long-term as asset class

Report: Bitcoin could rival gold long-term as asset class

Jan. 5 (UPI) — JPMorgan Chase strategists say that the cryptocurrency Bitcoin could reach $146,000 in the long term as it starts to challenge gold as an asset class.

The strategists said Bitcoin is still plagued by volatility while investors still favor gold because of its stability.

“A convergence in volatilities between Bitcoin and gold is unlikely to happen quickly and is in our mind a multiyear process. This implies that the above-$146,000 theoretical Bitcoin price target should be considered as along-term target, and thus an unsustainable price target for this year.”

That volatility that worries traditional investors was on display Monday, when Bitcoin lost $30,000 of support, $4,000 over a one-hour period, after reaching record highs, Cointelegraph Markets reported.

“To put this in perspective, from Nov. 15, 2017, to Dec. 15, 2017, the month leading up to the [all-time-high] in 2017, Binance did $20 billion in trading volume in one month,” Binance said on Twitter.

Source: www.upi.com

Author: Clyde Hughes


Here's Why Grayscale Bitcoin Trust Popped Today

Here’s Why Grayscale Bitcoin Trust Popped Today

Shares of Grayscale Bitcoin Trust (OTC:GBTC) jumped 12% on Tuesday after JPMorgan issued an extremely bullish forecast for the price of bitcoin.  

JPMorgan’s analysts believe the popular cryptocurrency could rise as high as $146,000 per coin, as more people begin to view it as a digital version of gold. That would bring the total value of all bitcoins to roughly $2.7 trillion, or about equal to the total amount of money private investors currently have allocated to gold.

A digital chart that rises sharply.

Grayscale Bitcoin Trust’s price is soaring along with that of bitcoin. Image source: Getty Images.

But to do so, bitcoin’s volatility will need to subside, if institutional investors are to use it as a store of value similar to gold. “This long-term upside based on an equalization of the market cap of bitcoin to that of gold for investment purposes is conditional on the volatility of bitcoin converging to that of gold over the long term,” JPMorgan’s analysts said. 

JPMorgan cautions that bitcoin’s volatility is unlikely to converge toward that of gold in the near term. Its $146,000 price forecast should thus be viewed as a long-term, multi-year target.

Still, bitcoin’s price rose sharply, to roughly $34,000, after JPMorgan’s report. And Grayscale Bitcoin Trust, which is designed to act as a proxy for the price of the cryptocurrency, jumped along with it.

Source: www.fool.com

Author: Joe Tenebruso


How Hackers Exploited Twitter's VPN Problems, Obtained God Mode and Took Over Accounts | News Bitcoin News

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