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Showing posts with label Bitcoin ransom. Show all posts

Tether says it is a Victim of a 500 BTC Ransom


Only days after the conclusion of its long-running fight with the Office of the Attorney General of New York, Tether says it is currently a victim of an extortion attempt. As indicated by the stablecoin issuer, the blackmailers are taking steps to release documents they guarantee "will hurt the bitcoin environment" if their demand for the payment of 500 bitcoins isn't met. 

Be that as it may, in its statement dismissing the threat, Tether says the blackmailers were attempting to extort money utilizing “forged documents.” According to Tether, the documents indicate to show an association between Tether personnel and representatives of Deltec Bank. All things considered, in a Twitter thread, Tether says it won't send the 500 BTC which the blackmailers want to be paid by March 1. 

"It is unclear whether this is a basic extortion scheme like those directed at other crypto companies or people looking to undermine Tether and the crypto community as a whole," Tether says. "Either way, those seeking to harm Tether are getting increasingly desperate." Then, in his own tweet, Bitfinex and Tether CTO Paolo Ardiono similarly dismisses the ransom demand. He rehashes the case that while the assault is apparently focused on Tether, the attacker's“main goal is to discredit bitcoin and all crypto.” 

The CTO additionally proceeds to share the screenshot of a February 27 tweet from a client going by the name Trolly McTrollface. As indicated by the screenshot, McTrollface professes to be in possession of a leaked email from Tether to Deltec which the client says “is a crucial piece of the puzzle.” Following the conclusion of the long-running investigation, the Office of the Attorney General (OAG) discovered that both Tether and Bitfinex had “recklessly and unlawfully covered-up massive financial losses to keep their scheme going and protect their bottom lines.” 

However, in its statement, the OAG just recognizes that the Bahamas-based Deltec Bank is Tether's banker. The OAG didn't utter a word about the indicated email dated May 3, 2020, wherein Tether personnel are asking Deltec representatives for help “in presenting their reserves in the best possible light.”

Hit by Ransomware Attack, US Town Agrees to pay Attackers $600,000 in Bitcoin

Riviera Beach, a small city which is located just north of West Palm Beach, fall prey to a massive cyber attack, wherein the hackers paralyzed the city's computer systems and have asked the city council to pay a $600,000 ransom in Bitcoin in order to have the data released.

With the hope of regaining the access to the encrypted data in the cyber attack, the officials of the Florida town conducted a meeting this week where the council agreed to pay the criminals 65 Bitcoin, a difficult to track currency.

Reportedly, it was after an employee of the town's police division accessed a phishing email, the virus which paralyzed all the computer systems in the city was unleashed.

To spread the word about the ransomware attack amongst the residents, a notice was posted on the city website which stated that they had undergone a data security event and was "working with our internal management team third-party consultants to address all issues."

Commenting on the matter, Mr. Rebholz, a principal for Moxfive, a technology advisory firm, said, “The complexity and severity of these ransomware attacks just continues to increase,”

“The sophistication of these threat actors is increasing faster than many organizations and cities are able to keep pace with.” He added.

A number of American cities have fallen prey to similar, computer-based breaches wherein the attackers demanded heavy ransoms for the restoration of the networks. Recently, Baltimore experienced a similar attack and though they refused to pay the ransom, the attack cost the city $18 million to fix damages.

Bitcoin Ransom Of $950,000 Paid To Kidnappers For An American Man Who’s Still Missing!

Bitcoin Ransom Of $950,000 Paid To Kidnappers For An American Man Who’s Still Missing

A Bitcoin ransom of $950,000 was demanded by the kidnappers in exchange for a United States’ businessman. Despite having paid it the abducted man is still missing.

The missing man, who was the owner of an online gambling platform, has been identified as William Sean Creighton Kopko.

The man had gone missing in Costa Rica, where last September, reportedly he was wrested unawares.

All around 12 persons were arrested by the Spanish and Costa Rican police, in relation with the aforementioned kidnapping.

The family of Kopko had to pay the much demanded ransom of bitcoin worth $950K , after which the kidnappers cut the communication.

The kidnappers under suspicion absconded to Cuba, suddenly and returned to Spain in early November of 2018.

These suspects then rented an apartment and that’s when they got arrested in Zaragoza, Spain.

Tech savvy criminals have always been keen on crypto-currency and hence the harvesting of bitcoin has always been a thing.

Also, sometime earlier criminals posing as students willing to learn about bitcoin tortured a man into revealing their passwords to crypto-currency accounts.

There have been recent cases wherein, in exchange for kidnapped wives and other important entities, crypto-currency has been asked for.

Apparently, demanding bitcoins as ransom has become the latest thing.