Cisco #Cybersecurity #Team Cracks $50 Million #Ukrainian #Hacker #Ring

Source: National Cyber Security News

For years Ukrainian hackers have preyed on bitcoin investors, emptying wallets and then hiding behind the inherent anonymity of the encrypted blockchain.

$50 million in stolen cryptocurrency

Now Cisco has exposed a notorious Ukranian hacker ring known as Coinhoarder (very subtle) possibly responsible for thefts equaling more than $50 million from Blockchain.info over many years.

According to a report from Cisco’s Talos cybersecurity team, the thieves used a ‘simple yet treacherous’ form of phishing that involved salting Google adwords with near named sites like Blockchein.info.

Users entered their security information thinking they were on legitimate sites which allowed hackers to steal cryptocurrency directly from their registered wallets. According to the Talos team;

“The attackers needed only to continue purchasing Google AdWords to ensure a steady stream of victims,”

Treacherous Phishing

Cisco investigated this group’s Phishing campaign for over six months in cooperation with Ukrainian cyber-police and found that its technique had ‘become increasingly common in the wild, with attackers targeting many different crypto wallets and exchanges.

The Coinhoarder thefts occurred over three years but culminated in late 2017 as the value of Bitcoin and other cryptocurrencies rose sharply. The group reportedly got away with $10 million between Sept. and Dec. and in one frantic burst of advertising snatched $2 million in less than 4 weeks.

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