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Cryptocurrency Thieves: How Do They Act, and How Can I Protect Myself?

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Cryptocurrencies are the rave of the moment, and you need to know how to beat hackers on the prowl. Bitcoin hacking and cryptocurrency thieves

Cryptocurrencies are the rave of the moment, and you need to know how to beat hackers on the prowl.

Over the last year, cryptocurrencies have taken the front when it comes to talking about the future of the economy. These currencies have grown into the mainstream, led partly by reports about them being the safest in the world.

However, ask anyone who’s been around for long and you’ll hear differing opinions. A quick search in Google will return dozens of news items speaking of cryptocurrency theft. Some of them will report millions of dollars in bitcoin vanishing into thin air.

These reports can make it difficult for people to know what to believe. If cryptocurrencies are as safe as they say, how come they keep getting stolen? How does one steal a supposedly safe crypto active in such a way that it’s impossible to get it back?

The answer to this question is simple. Blockchain, the system behind cryptocurrency trading, is about as safe as any system can be. It can’t be hacked, data can’t be edited without permission, and all changes are logged in its ledger. This is a core focus of crypto assets management.

What this means is, the safety problem isn’t in the blockchain. The safety issues around cryptocurrencies are entirely the users’ fault. In all cases of crypto being stolen, there’s been at least some degree of user input. And in the end, the best safety feature is to know what you’re doing and how it can affect you.

 

But, how do crypto wallets get hacked?

There are several methods that can be used to rob people of their hard-earned bitcoin and other crypto assets. As stated before, except for cases where exchange platforms have been hacked into, user input is usually part of the problem. And user input begins with the basics: passwords.

It might seem absurd to some people that in 2018 hackers are still simply guessing people’s passwords. However, this is one of the most common ways of crypto hacking or any kind of hacking. However, the rise of crypto leverage trading has brought with it a lure that criminals cannot resist.

 

How does social engineering work?

Simply put, social engineering passwords consist in figuring out what somebody’s using to access their accounts. It usually comes in the form of guessing usual password phrases, like birthdays or anniversaries. To avoid this, having secure passwords is extremely important.

In some other cases, thieves might coerce you or just convince you to share your access data with them. Usually, this is done with lots of finesse, to keep their target from noticing such info is being extracted. Either way, the moment you give somebody else access data to your finances or any accounts you’re at risk. So don’t.

Just as well, phishing emails and messages are a common way to obtain access data to your accounts. As a general rule, no institution will ever ask for your personal data via email. Particularly if this data includes social security numbers or usernames/passwords they should have no need for.

 

My access data is secure and I don’t share it. What else?

Once social engineering has been ruled out as a way to hack into an account, there are other methods. These are more invasive, but they’re straight to the point. The most common one, as it happens, is a clipboard hijacker. The best bitcoin wallets can give you a safeguard against this hack.

For cryptocurrency wallets, the addresses are usually long and almost impossible to remember. Therefore, most users keep their wallet information on a database such as KeePass or LastPass. These encrypted databases allow for quick access to data users would otherwise forget. When the user needs it, they ask the software for their wallet address, which is stored in the clipboard. Then they just have to paste it in the corresponding field and…

Then they get hacked because the clipboard hijacker detects this and replaces the user’s wallet address with the hacker’s. Since blockchain transactions are untraceable, once the user notices this it will be too late. The crypto actives will then be long gone.

To prevent these, simply refrain from installing any suspicious software on your computer. This kind of software more often than not comes bundled in completely unrelated packages, so be wary of anything. Back in the 2000s, one of the most common ways to distribute keyloggers was through fluff software such as SmileyCentral. The same can happen with clipboard hijackers.

It may sound silly that hacker would distribute software like this since most people don’t use cryptocurrencies. In truth, hackers don’t care about those. It might take thousands of installs to reach a mark, but once they do, the payout is big.

These programs eventually get reported as viruses, but it can take weeks or months for them to be detected. Over that time, no antivirus will find it, meaning the only way to be safe is by acting safely. Don’t install suspicious or unknown software, at all.

 

I don’t even use my PC much. What else is there?

Just as PC software can be problematic, so can smartphone apps. Specifically, smartphones can fall prey to both clipboard hijackers and fake apps.

Ever browsed the Google Play Store looking for any software? You’ll find the one you’re looking for, and dozens of copycats. Many of these do it just trying to get exposure, but some will come from disreputable sources. This happens with any software, crypto trading software included.

Specifically, copycat apps can look or act like the official ones. Only, instead of sending the cryptocurrencies where you want them, they are sent to the thief’s wallet. Just as with clipboard hijackers, these apps do get reported… but it can take days.

As with clipboard hijackers, these are simple to avoid. Always make sure your apps come from reputable sources, even if said apps are unrelated to crypto.

 

If no crypto apps, Now what?

Other two very common ways to hack into accounts are browser extensions and phishing websites. These are used not only for crypto hacking but for basically anything. Phishing websites are one of the most common ways of stealing from PayPal accounts. Turns out they’re just as useful for crypto.

In order to avoid phishing websites, always go directly to the website you want. Don’t follow hyperlinks or ads, just type it into your browser’s URL box. Just as well, make sure to type addresses correctly. Mistyped domain names can lead you to a fraudulent website.

As for browser extensions, once again only installing reputable ones is mandatory. On top of that, most browsers disable extensions when running in incognito/private mode. To avoid getting your crypto wallet hacked via an extension, you can try accessing it only via incognito mode.

 

Is that all?

There are always new methods of hacking. As long as there are valuables to be stolen there will be people looking to steal. However, the takeaway here is that even the most secure system in the world can fall prey to poor use.

The blockchain is an extremely safe technology, one that has never been hacked directly. Yet, using the methods above described, hackers managed to steal over $10M in Ethereum just last year. The fault here almost always lies with user input and poor user security.

After all, the most secure system in the world is worthless if it isn’t properly used. You could install all the best security measures at home, but that won’t keep thieves out if you leave the doors open and the systems off. The same happens with cryptocurrencies and online banking in general.

Some tools, like antiviruses, might help protect you from hackers. Yet in the end, the best security system will always be being wary of what you do on the internet.

 

References:

 

 

  • Suspicious wallets

 

http://uk.businessinsider.com/tether-updates-on-hack-wallets-terms-of-service-audit-and-redemptions-2017-12?IR=T

 

 

  • Lastpass

 

https://www.lastpass.com/

 

  • Email access fraud

https://money.cnn.com/2016/10/12/news/companies/pacnet-mail-fraud-mafia/index.html

 

 

  • SmileyCentral

 

http://goodbye.smileycentral.com/

 

Author Bio:

Denise Quirk is a Health Advisor and fascinated by Crypto, Blockchain Revolution. She is a believer in transforming complex information into simple, actionable content. She is keenly interested in finding the value of the crypto world. She writes for Coin Review, Bitcoin Warrior, Irish Tech News, etc. You can find her on Linkedin, Twitter, and Facebook.

 

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9 Comments

9 Comments

  1. Pingback: Cryptocurrency Thieves: How Do They Act, and How Can I Protect Myself? – The Coinage Times

  2. Pingback: Cryptocurrency Thieves: How Do They Act, and How Can I Protect Myself? - Satoshiuncle

  3. Sheena Arcamo

    October 9, 2018 at 8:25 am

    this is a very helpful article, thanks! we need more articles like this bc I have read at MyShield that scammers are getting sophisticated day by day and even investors who were in the market for so long still from these crypto schemes.

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10 facts that prove that Craig Wright is not the real Satoshi Nakamoto

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A lot of people in the past has tried to claim that they are Satoshi. Let's discuss 10 reasons why Craig Wright is not the real Satoshi Nakamoto.

Everyone is aware of the impact that bitcoin has marked on today’s world. However, huge the success bitcoin gained in the financial market, more is the mystery about the inventor of bitcoin, Satoshi Nakamoto. Satoshi Nakamoto created bitcoin in 2008 and made it an open source in the year 2009. But Satoshi disappeared in 2010. No one knows how to salute Satoshi, whether he or she or they!

A lot of people in the past has tried to claim that they are Satoshi, however, all the claims have been proved and till date, no one has the identity of Satoshi. In this article, we will discuss 10 reasons why Craig Wright is not the real Satoshi Nakamoto.

 

1. Craig Wright has not proven the ownership of the private keys of Satoshi. Although he tried to make the non-technical journalists fool by presenting the verification scripts, even any average student using cmd (command line) tools can find out the deception in the verification script that he was trying to show as a proof of ownership of Satoshi’s private keys.

 

2. Jimmy Song, a famous Bitcoin developer and one of the popular person on Youtube for crypto space recently had few harsh words for the Craigh claims for Satoshi. Jimmy said that he believes that Wright holds zero credibility to be Satoshi and no one should listen to his false claims. He made fun of Wright by saying that Craig Wright is just like a fat kid who falsely claims that have a pretty girlfriend.

 

3. Even Vitalik Buterin, a famous personality in crypto space denied the opinions of Craig to be Satoshi. In one of his interviews, he said that if he really was Satoshi, he could have proved by a simple private key but he presented a complex and bogus proof to the public to prove that he was Satoshi. He said that he believes that all the claims by Craig are false.

 

4. Even if Craig was Satoshi, why a person would show the world that he owns million of bitcoin in the cryptographic way of proof so that anyone can easily steal that billion worthy digital coins? I mean just for the sake of proving the identity, why would someone invite the hackers to steal all the bitcoin? This seems completely irrelevant.

 

5. Craig in his process to prove himself tried to fool all by using two similar words ‘signature’ and ‘signiture’. In his script, at one place he defined as ‘signature’ and while running the script, he used the word ‘signiture’. Anyone can understand this bogus proof easily just by having a careful look on the script that he portrayed.

 

6. John McAfee, a famous personality in computer programming and McAfee group, publicly denied the claims of Craig. He said the definitely, Craig is not the real Satoshi Nakamoto. He further added that he knew who the true Satoshi is. He has known him from the past. As per him, Satoshi is neither a committee nor the Craig Wright. Satoshi is a single and very intelligent individual.

 

7. There is no special event for Craig to prove that he is the real Satoshi Nakamoto. If he was the real Satoshi, he could have presented him in the public in the past when the bitcoin was on the peak. Also, when asked about the same in an interview, Craig Wright has no proper answer to it. Why would a person hide his identity when his creation was ruling the world and all of a sudden he would reveal his identity having no special event or reason? This is really not acceptable of Craig’s claims.

 

8. In one of the papers published by real Satoshi, he mentioned about some age of twenties. If this is taken as the age of Satoshi at that time then, this makes an incompatible age difference between Craig and the real Satoshi. Craig has his year of birth as 1970 and the paper published was in 2009-2010. So, if this assumption of the word twenty and age in a single line to be talking about Satoshi’s age is assumed true, then for sure Craig is not Satoshi.

 

9. Craig has stopped claiming himself as Satoshi Nakamoto these days after a lot of people cam publicly and thrashed the claims made by Craig. In a recent interview when asked about a question that is he the real Satoshi, he refused to answer directly. He has already been titled as a ‘faketoshi’! Why a person would refuse to accept his own identity even if some people of a society are not believing him? It is very difficult to digest.

 

10. The same day, when Craig Wright published his fake public cryptographic proof to claim as the real Satoshi and met Gavin Andresen, one news came that Anderson’s commit access to the Bitcoin Core was removed and the core team was concerned that it was probably hacked. This also gives the sign that Craig’s proof was not so much true and maybe someone on his behalf tried to hack bitcoin core accesses to steal some data and help Craig to claim.

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Craig Wright Exposed by WikiLeaks

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WikiLeaks posted on twitter about Craig Wright, the self-proclaimed Satoshi Nakamoto, disclosing his fake and altered blog post from 2008.

WikiLeaks posted on twitter about Craig Wright, the self-proclaimed Satoshi Nakamoto, disclosing his fake and altered blog post from 2008. According to WikiLeaks, the post was forged by Craig Wright to claim that he is the inventor of bitcoin and has been working on cryptocurrencies since 2008.

WikiLeaks is an international non-profit organization that publishes secret information, news leaks, and classified media provided by anonymous sources. WikiLeaks was one of the first organizations to start accepting bitcoin after the American government had forced Mastercard and Visa to carry out transactions for the organization. According to WikiLeaks founder, Julian Assange, Wikileaks made 50,000% return on bitcoin that it has invested in 2010.

Tweet by WikiLeaks:

Craig Wright was exposed in a tweet by WikiLeaks yesterday which shows that the blog post which Craig Wright used to prove his identity as Satoshi Nakamoto, the creator of bitcoin is a forged blog post. WikiLeaks also stated that Craig Wright is a serial forger of documents and has been repeatedly caught.

Craig Wright Responds:

Craig Wright responded to the tweet by WikiLeaks stating WikiLeaks is a fake news site. He said that organizations such as WikiLeaks have freedom of speech. He also stated that a pseudo leak site such as WikiLeaks should not even exist.

Craig-Wright-SS

Craig-Wright-SS

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12 Best Cryptocurrency & Blockchain Domain Names on BrandThugs.com

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Brandthugs.com consists of a list of cryptocurrency & blockchain brand domain names which are literally amazing. We discuss the top 12 domain names.

Brandable domain names play an important role in the success of any online business. It depicts the overall summary and mission of your business. Also, most of the desired brand names are very costly to buy. Hence, it is very difficult to choose a perfect domain name for your business that satisfies the need and mission of the business as well as is easy to afford. Various websites are available which provides these brand names. However, some have some non-innovative names while some have premium name with a very high cost.

If you are looking for innovative and sensing brand names for your crypto business and that too at an affordable price, then Brandthugs.com is the perfect place for you.

 

In this article, we will present you the Top 12 domain names you will love to have from BrandThugs.com:

 

CoinFarming.com: If you are in search of an attractive domain name for your business that deals with crypto and bitcoin then CoinFarming.com seems suitable for you. It has a dot com extension which would help it to raise the rank the webpage. The domain name itself seems relevant to crypto space. It could be for any organization for crypto news, crypto mining website or even a cryptocurrency wallet.

 

BiggBang.com: It is an excellent brand name for various kind of businesses. It not only can endorse your crypto business rather can be used in other business domains like TV series, News site, Science theories, Dating site, Music and video player etc. Also, dot com would help in ranking in search engine optimization and global ranking of the webpage. You can even use it for a restaurant app or business consultant.

 

 

Blockxhain.com: This domain name is nothing less than a premier one due to its resemblance with blockchain. If you are planning to search for an excellent domain name for your business which may be a crypto wallet or based on blockchain technology or a crypto exchange, you must go with blockxhain.com. Apart from the main domain, dot com is also beneficial in the search engine. You can also use it for cryptocurrency block explorer service, blockchain dating app etc.

 

 

DiscussCrypto.com: As this domain name already seems to ‘discuss’ the ‘crypto’, you can use this domain name for a website that deals with the crypto latest news. You can also use this handpicked bran domain name if your business is a discussion forum or a chat box related to crypto and bitcoin. Also, it can be used for a crypto blogging site.

 

 

BuySellCryptos.com: This domain name is perfect for you if you are looking for an attractive domain for a business that deals with buying and selling of crypto coins.  buysellcryptos.com can also be used for a crypto exchange, crypto merchant provider, crypto blogging website. The name itself gives the prediction that the mission is to provide transaction of cryptocurrencies and bitcoins. If you use this domain name, it would surely hold a large number of visitors.

 

 

CryptoCasino.mobi: If you are planning to have a domain name for your business that provides gambling/betting or games related to the crypto space, then brandthugs provides you with this amazing domain name. You can attract a lot of audience with this domain name. The domain name is absolutely professional and easy to memorize. Also, you can use this for a crypto exchange or a crypto wallet.

 

 

CoinRides.com: This is another excellent domain name provided by brandthugs.com for crypto lovers. If you are searching an efficient brand name for your travel agency that accepts bitcoins, this one is best for you. You can also use this domain for the business like taxi service, publicity agency, tour and travel site or ride-sharing service. Also, it comes at an affordable price of around $2995.

 

 

BarcodePayment.com: The name itself describes that it could be related to barcodes, scanning, and payments. If your startup aims to provide a platform for payments using barcodes, then you must go with this domain name. You can also use this domain name for the areas like crypt wallet, payment gateway, bitcoin payment processor etc. Also, the dot com extension can help your webpage to improve your global webpage ranking.

 

 

BTCjunky.com: This one is one of the cool domain names a person can find on any website. This is a perfect, user-attractive and professional domain name for the business that involves bitcoin and cryptocurrency in any means. This hand-picked domain name can be used for the business like bitcoin wallet, bitcoin payment, and exchange, crypto news and blogging site etc. You can also use this domain name for crypto events and venture capitalist.

 

 

FinFortune.com: This one is again a professional brand name related to any business. You can use this domain name. You can use this domain name for fields related to big money technology. If you are having the business like an investment firm, consultant, accelerator or wealth advisory firm, you must go with this handpicked domain name finfortune.com from brandthugs.com.

 

 

DDpayments.com: This domain name consists of ‘dd’ which may be considered as demand draft and ‘payments’. This domain name is a straightforward one with business connotations. You can use this professional brand name from brandthugs.com for the business like payroll service, payment processing platform, employment firm, business tool etc. The dot com extension reduces the tension for webpage ranking to some extent.

 

 

AlienMiners.com: If you are wondering to buy an innovative brand name for your business that deals with mining of crypto coins and bitcoin, you can go with this splendid domain name available on brandthugs.com This domain name can be used for business such as cryptocurrency mining company, bitcoin mining pool, blockchain game, database services provider etc. Also, the price available for this domain name on the brandthugs.com is affordable.

 

 

 

A domain name is the first impression of your business. Also, selection of band name also matters for search engine optimization. So, you must always choose an innovative, meaningful, easy to remember, a professional, less-confusing domain name for your upcoming business. Brandthugs.com consists of a list of such handpicked brand domain names which are literally amazing. In this article, we discussed the top 12 domain names you will love to have from BrandThugs.com.

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