Cryptocurrency Blog

  • Malicious Code Was Injected Into BitPay’s CoPay Wallet By Fake Developer

    The Copay wallet by BitPay has been compromised by a hacker, the firm reports. On Monday, BitPay announced that it learned from a GitHub report for Copay that 3rd party javascript libraries used by the apps had been modified to load malicious code.

    The malware was only deployed on Copay versions 5.0.2 through 5.1.0 of it’s Copay and BitPay wallet apps, and could potentially be used to capture private wallet keys that can be used to steal or drain the wallets of cryptocurrency.

    BitPay Stresses, Users Should Assume That Private Keys Were Affected And To Move Funds To New 5.2.0 Wallets

    Since it doesn’t take long to steal the funds of an account, the longer the wait, the more likely it is to think that private keys can be seen and used. Users should 1st update their wallets and then send all funds to affected wallets to brand new wallets on the version 5.2.0 using the send max feature to send ALL FUNDS out of the affect wallet.

    The supposed fake dev, goes by the name Right9ctrl and took maintenance of the NodeJS library from it’s author who no longer had time for the work. THe social engineering attack occurred about three months ago when Right9cntrl was granted access to the repository and at that time, the malware was injected.

    This is a major reason why using 3rd party libraries isn’t a very smart thing to do, if you have to use libraries, make sure you have someone able to monitor such for these types of malicious attacks and NEVER COPY website LIBRARY REFERENCES, use your own!

Almost $1 Billion Stolen So Far This Year Via Cryptocurrency Hacks

It’s no surprise that the cryptocurrency industry is growing, and so is the total amount hackers are going home with. The total amount roughly $927 million has been moved from legit hands to less legit hands and many of these hacks were preventable. Just one of the altcoin hacks made up more than half of that total amount stolen this year, at a cool crisp $530 million, from the Japanese exchange coincheck.

The Roll Out Of Consistent Regulations

With the lack of cryptocurrency regulations across the board, the ability to launder and pass through exploits gave much of the chances needed to acquire the almost $1 Billion stolen.

Zaif a Japanese cryptocurrency exchange, is announcing a plan to compensate victims of a major hack last month, a result of new management of the exchange.

The future will not be safer for users of altcoins, but on a united front, will become more difficult to operate exploits within.

235 million Pigeoncoins printed by Hacker during fork due to non updated Code

piegoncoinPigeoncoin was the recent altcoin to see what happens, when you don’t update your source code, after using a clone of bitcoin, in a recent hack, an unknown exploiter, showed off a bug that allowed non-updated code, to be hijacked and used to instamine / print the cryptocurrency to the tune of 235 million altcoins, a total worth of $15,000 via coinmarketcap.

Update like the rest, or get hijacked by the best

The Severe inflation bug, is known and has already been patched by the big guys, bitcoin, litecoin, etc, however, many who cloned the source code for their own altcoin, have not, allowing for a hidden piggy bank awaiting and a instant collapse of the price following the sell off.

One Fourth Of all Pigeoncoin was the hackers booty

With a total supply cap of 970 million altcoins, Pigeoncoin’s recent loss was 1/4th the total supply, leaving uncertain times ahead for the community. While their isn’t too much that can be done, many are still awaiting to see when and how the exploiter sells the haul. Since the issue, Pigeoncoin has updated their source code via patch, so it’s not likely to be a problem going forward.


Hackers Steal $59 Million From Japanese Exchange

Japanese Cryptocurrency Exchange Hacked, $59 Million in Losses Reported
Image Via CoinTelegraph

The Cryptocurrency Exchange Caif has reported that $59 Million dollars in cryptocurrencies was stolen via a breach in security where hot wallets were able to be accessed and drained.

On September 14th 2018 –

  • 4.5 Billion yen was stolen from hot wallets
  • 2.2 Billion yen was stolen from the exchange themselves
  • totaling 6.7 Billion yen or $59 Million Dollars.

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