PGP Could Have Prevented BitPay Phishing Attack
Editors Note: We have updated the article to clarify that Mr Krohn’s email was compromised not Mr Pair’s. Also we have updated to link Mr Zimmerman as the creator of PGP and linked his Wiki page. We apologize for the confusion. Two weeks ago, it was revealed that BitPay suffered a phishing attack in late 2014, costing the company $1.8 million USD.....
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This piece has been updated with additional information, including the court documents filed by BitPay in federal court. BitPay has filed suit against a Massachusetts insurance company after losing $1.8m during a phishing attack last December. According to documents obtained by the Atlanta Business Chronicle, the bitcoin payment processor was defrauded in mid-December by an unknown individual posing as BTC Media CEO David Bailey, whose computer was infiltrated prior to the attack. The attacker subsequently obtained email credentials for BitPay CFO Bryan Krohn, which were then used to....
Phishing attacks are nothing new on the internet. While most are relatively amateurish (the African Princess) some are quite well put together and will fool most people if you are not paying attention. Phishing incidents have been happening more and more frequently in the virtual coin industry and the latest group targeted seems to be customers of BitPay, one of the largest cryptocurrency payment platforms in the world. There has been an email phishing attempt spoofing BitPay’s late payment notification email. As always, BitPay’s security is the main priority. There has not been a breach....
A legal battle between bitcoin payment processor BitPay and a major insurance company has ended. Filed yesterday, a court order dismissed the suit between BitPay and Massachusetts Bay Insurance Company, a subsidiary of Hanover Insurance, without prejudice. According to the court order signed by US District Judge Steve Jones, the two sides "have reached a settlement in principal". The suit traces back to late 2014, when BitPay lost approximately $1.8m in bitcoin during a phishing attack that targeted the company’s leadership team. At the time, the unknown attacker was able to....
Ledger confirmed that for the last week some customers have been the target of a phishing attack.
BitStamp detected yet another scam targeting Bitcoin users. Much publicized, the Bitcoin community has faced threats from hackers and other plays for years. Oftentimes, phishing attacks have been used to trick users into giving up their coins to criminal elements. Other times, ransomware attacks have opened the door to a new realm of cyber attack. According to researchers, the scam replaced QR code images on bitcoin exchanges with its own addresses. The fraudulent application was listed on Google’s Play store. Some users have noted this is perhaps a good reason why crypto-currencies like....