Commission Uncovers Massive Cryptocurrency Scam
Nigeria’s Economic and Financial Crimes Commission (EFCC) conducted a raid resulting in the arrest of 792 suspects involved in schemes known as crypto romance scams. The fraudsters convinced victims to invest in fake cryptocurrency projects, leading to significant financial losses.
Links to International Groups
EFCC spokesperson Wilson Uwujaren revealed that among those arrested were 148 Chinese nationals and 40 Filipino citizens. The scammers operated from a luxury building in Lagos, Nigeria’s commercial hub. Most of the victims were citizens of the United States and Europe.
During the raid, agents seized computers, mobile phones, and vehicles. Uwujaren stated that Nigerian fraudsters were recruited by international groups to target victims online using phishing techniques. Once the victims’ trust was gained, their information was handed over to foreign counterparts, who carried out the fraud.
Collaboration with International Partners
The EFCC announced it is working with international partners to identify potential links to organized crime. This collaboration aims to strengthen actions against similar fraudulent activities.
Another Case: Nigerian Scammer Defrauds Australians of $5 Million
The arrests follow a separate case involving Osang Otukpa, who allegedly defrauded 139 Australians of $5.04 million (8 million AUD) through a fraudulent cryptocurrency platform called Liquid Asset Group.
Otukpa reportedly used five different aliases and lured victims through social media. EFCC agents apprehended Otukpa on December 6, shortly after he landed at Murtala Mohammed International Airport in Lagos. According to reports, he will be charged once the investigation is complete.
Conclusion
The EFCC continues to intensify its efforts to combat cryptocurrency fraud, working closely with global partners to curb these illegal activities. The crackdown on 792 suspects and cases like Otukpa’s highlight Nigeria’s strengthened fight against financial crimes.

#hackers , #Cryptoscam , #cryptofraud , #CryptoSecurity , #CryptoNewss

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

A U.S. appeals court has revived investor Michael Terpin’s lawsuit against telecommunications company #AT&T concerning the theft of $24 million in cryptocurrency following a SIM swap hack. This decision allows Terpin to continue his legal claims under the Federal Communications Act (#FCA ).
Key Claims Reconsidered
A Ninth Circuit Court of Appeals panel reinstated a key claim in the case, in which Terpin alleges that AT&T allowed hackers to take over his phone account, leading to the loss of his #Cryptocurency portfolio. This ruling reinstates part of the lawsuit that had been previously dismissed and allows Terpin to continue his claims based on federal laws protecting telecommunications data.
Fraud and Negligence by AT&T
The court ruled that Terpin presented enough evidence to show that AT&T's failure to protect his account resulted in hackers gaining access to his phone number through a fraudulent SIM swap. They then used this number to access his personal data and change his passwords, ultimately stealing $24 million worth of cryptocurrency.
The 2018 SIM Swap Hack
The hack occurred in January 2018, when a group of #hackers , led by 15-year-old Ellis Pinsky, allegedly paid AT&T employees to transfer Terpin’s phone number to a SIM card under their control. Despite new security measures implemented after a previous breach, the hackers found a way to bypass the protection. Once they gained access to his phone number, they changed his passwords and stole the cryptocurrency.
Legal Battles with Hackers
Pinsky returned his portion of the stolen funds, but another hacker, Nicholas Truglia, was ordered by a Los Angeles court to pay Terpin $75.8 million in damages. This case highlighted the vulnerability of cryptocurrency accounts during SIM swap attacks.
AT&T and Hacking Incidents
Around the same time, AT&T faced another issue with hackers allegedly stealing customer information, such as call logs and text messages. AT&T reportedly paid $400,000 in bitcoin to hackers to remove the stolen data, although the company officially neither confirmed nor denied the payment.
What’s Next?
The reinstatement of Terpin’s claim allows the lawsuit to proceed, with Terpin seeking $24 million in damages, plus interest and legal fees. His legal team believes this verdict may pave the way for other consumers to sue telecommunications companies for insufficient protection during SIM swaps.
AT&T has apologized to Terpin but noted that most of the allegations against the company were dismissed, and they remain confident in defending the remaining claims. This case has attracted attention from blockchain experts, as the number of #HackingIncidents related to cryptocurrency continues to rise.

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Crypto hackers have stolen $4+ billion in the last 2 years.
If you are not careful, you'll be next.
This article shares 8 security practices that everyone should be using.
If you already have multisig, virtual machines, 3 identities, your own email servers, a nuclear bunker and a lifetime supply of ramen.
Then you won’t need this guide,
For everyone else let's begin.

1. Crypto Storage
Hardware Wallets (Tier 1) - Ledger, NGRAVE, Trezor
Paper Wallet (Tier 2) - Easily lost and damaged. But costs only time.
Desktop wallet (Tier 3) - Only as safe as the system they are on. Not Ideal.

2. Emails
Old emails with weak passwords are a common point of entry for hackers.
If you’ve had it for a while and used it for multiple websites, chances are you want to get rid of it.

3. VPN
Most main providers are good enough (nord / express).
You can take your privacy even further and try something like Mullvad.

4. 2FA
2FA everything.
Cold 2fa Device (Tier 1) - Yubikey or Google Titan
Custom 2fa Device (Tier 2) - Cheaper option is to buy a cheap phone, download 2fa, swap it to flight mode forever.
Note: 2FA can be circumvented, it is not an absolute defence.\

5. Passwords
This is where we disproportionately limit the damage a successful hack can do to us. I’m going to share a multilevel system I’ve built for myself.
There are two tiers of data.
Level 1 Data
Level 2 Data

Level 1 Data
To determine if your data is level 1 ask yourself this.
"If a hacker had access to only this information, would they be able to attack me?"
For example, if a hacker gained access to your private keys, they could directly access your cryptocurrency.

Level 1 Data Rules
- Keep offline
- Never be stored on your laptop
- When entering these passwords, you will alternate between using your actual keyboard and an on-screen keyboard
- These passwords will be a minimum of 15 keys long and as complex as possible
- Have back ups

Level 2 Data
Any data which on its own cannot grant the hacker access to any of your funds or important data is considered level 2.
This means If a hacker were to gain access to a level 2 password, they would still be unable to actually access anything vulnerable.

Level 2 Data Rules
You can randomly generate by your password manager and should never be typed, always copy and paste from your manager without revealing the password in case you are being watched or key logged.

6. EXCHANGES
Don't trust any sketchy exchanges with your crypto.
-Deposit only what you need to buy/sell.
-Use reputable exchanges like Binance.
- Use 2FA
-Set a global lock that requires a minimum wait time before settings are changed
-Whitelist your addresses and set a lock on adding new addresses
-Use leverage to reduce counterparty risk

7. Advanced: Separate computers
Separate computers are an expensive option so decide if it’s worth the investment relative to the value of your online security and assets.
-High Security Computer
-Low Security Computer

High Security Computer
Used only for handling crypto, banking, trading and other sensitive activities.
Your high security device is never to deviate from essential websites or click on any links.
All it takes is one mistake to compromise your security.

Low Security Computer
For all other activities, you can use your low security device.
There should never be crossover between these two devices.

8. PROTECT OTHERS
Someone you care about getting attacked can be leveraged against you.
Share this with others and make sure they are as protected as you.

#hackers #BitEagleNews

On August 21, 2024,b# McDonald's faced a significant security breach when a hacker hijacked the company's official Instagram account to promote a fraudulent cryptocurrency. The hacker leveraged the global reach and credibility of McDonald's to promote a fake Solana-based meme coin called “GRIMACE.” This event quickly drew widespread attention as it demonstrated the increasing frequency and sophistication of cyber-attacks targeting major corporations' social media accounts.
The hacker's campaign was both audacious and cunning. By exploiting the McDonald's brand, they aimed to deceive unsuspecting followers into believing that the fast-food giant was endorsing the new cryptocurrency. The posts on McDonald's Instagram account featured flashy graphics and promises of high returns, a common tactic used in crypto scams. The use of "GRIMACE" as the meme coin's name was a direct reference to one of McDonald's iconic mascots, further adding a layer of deception to the campaign.#
The fraudulent promotion was designed to lure followers into purchasing the fake coin, likely through links provided in the hacked posts. Once followers clicked on these links, they were probably directed to a phishing site designed to collect personal information or facilitate fraudulent transactions. The hacker’s strategy relied on the trust that McDonald's followers had in the brand, making the scam more convincing and potentially more damaging.McDonald's quickly responded to the breach, issuing a statement that their Instagram account had been compromised and that the posts promoting "GRIMACE" were fraudulent. The company urged followers not to engage with the content or click on any links. They also worked with Instagram to regain control of the account and remove the malicious posts.This incident underscores the vulnerability of even the largest and most established brands to cyber-attacks. It also highlights the growing trend of cybercriminals targeting social media platforms to execute their schemes, particularly in the rapidly evolving world of cryptocurrency. As businesses continue to expand their digital presence, ensuring robust cybersecurity measures will be crucial to protecting their brand integrity and safeguarding their customers from similar attacks.#hackers #BinanceCreatorAwards

The Health Sector #cybersecurity Coordination Center (HC3) in the United States has announced that at least one healthcare institution in the U.S. has been hit by the Trinity ransomware, a new threat targeting critical infrastructure.
The Threat of Trinity Ransomware and How It Works
A U.S. government agency issued a warning regarding the Trinity ransomware, which targets victims and extorts them for #CryptocurrencyPayments in exchange for not leaking sensitive data. This ransomware uses various attack methods, including phishing emails, malicious websites, and exploiting software vulnerabilities.
Once it infiltrates a system, the ransomware scans the victim's computer, collects sensitive information, and encrypts files using advanced encryption algorithms, rendering them unreadable. #hackers then leave a message in the computer informing the victim that their data has been encrypted and demanding a ransom in exchange for a decryption key.
Hackers’ Demands: 24-Hour Deadline for Payment
In the ransom note, victims are warned that they have only 24 hours to pay the ransom in cryptocurrency, or their data will be leaked or sold. HC3 noted that there are currently no available decryption tools for Trinity ransomware, leaving victims with few options for recovery.
"Victims have 24 hours to contact the cybercriminals, and if they fail to do so, the stolen data will be leaked or sold," HC3 reported. The ransomware primarily targets critical infrastructure, including healthcare providers.
Attacks on Healthcare Institutions
The Trinity ransomware has already affected seven organizations, with healthcare facilities being one of its primary targets. HC3 reported that at least one healthcare entity in the U.S. was recently impacted by this ransomware, raising concerns about cybersecurity in the healthcare sector.
Crypto Ransom Payments Reached $1 Billion in 2023
According to the Chainalysis 2024 #cryptocrime Report, ransomware attackers received approximately $1.1 billion in cryptocurrency payments in 2023. These ransoms were paid by high-profile institutions and critical infrastructure, with attacks ranging from small criminal groups to large syndicates.
The report also revealed that 538 new ransomware variants were created in 2023, with major corporations like BBC and British Airways being among the primary targets of these attacks.
#cyberattacks

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

 

North Korean Hackers Orchestrate Sophisticated Attack
A recent postmortem report reveals that North Korea-backed hackers, identified as UNC4736 (also known as Citrine Sleet), exploited Radiant Capital in a $50 million attack. The operation involved advanced social engineering tactics, with the attackers impersonating a "trusted former contractor" and distributing malware via a zipped PDF file.
Phishing Through Fake Domains and Data Manipulation
The hackers created a fake domain mimicking a legitimate Radiant Capital contractor and reached out to the Radiant team through Telegram. They requested feedback on an alleged smart contract audit project. However, the shared file concealed INLETDRIFT malware, which created macOS backdoors, granting the hackers access to hardware wallets of at least three Radiant developers.
Manipulated Transactions and Compromised Security
During the attack on October 16, the malware tampered with the Safe{Wallet} interface (formerly Gnosis Safe), displaying legitimate transaction data to developers while executing malicious transactions in the background. Despite adhering to stringent security protocols like Tenderly simulations and Standard Operating Procedures (SOP), the attackers successfully compromised multiple developer devices.
UNC4736’s Links to North Korea
According to cybersecurity firm Mandiant, UNC4736 is connected to North Korea's General Reconnaissance Bureau. This group is notorious for targeting cryptocurrency companies and financial institutions globally.
North Korean Hackers Fund Nuclear Programs
The Federal Bureau of Investigation (FBI) has previously warned about North Korean hackers’ sophisticated tactics, including targeting cryptocurrency exchanges and prominent firms. Research indicates that these state-backed groups have stolen approximately $3 billion from the cryptocurrency sector since 2017. The stolen funds are reportedly used to finance North Korea's nuclear weapons program.
A Concerning Trend in Cybersecurity
This case highlights the increasing sophistication of cyberattacks, as hackers deploy social engineering and advanced tools to target cryptocurrency firms. Radiant Capital fell victim to a meticulously planned operation, underscoring the urgent need for enhanced security measures within the crypto industry.

#CryptoNewss , #NorthKoreaHackers , #hackers , #Cryptoscam , #CryptoSecurity

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“