Connect with us

Market

Binance Gives $200K to Investigators Who Helped Identify Actors Behind 2018 Attack

Published

on


Cryptocurrency exchange Binance has followed through with its pledge to reward anyone helping bring about the arrest of the bad actors who attacked the exchange in March 2018 and stole from users in a phishing campaign.

Over a period of months, unknown persons set up phishing websites that mimicked Binance’s own, and collected users’ login details to attempt to access accounts and breach the platform.

The exchange announced Wednesday that it has now awarded a bounty of $200,000 to private investigators, whom it did not identify, for providing a report identifying one of the alleged attackers and providing information on how the attack was carried out.

Binance made the decision to hand over the promised bounty after two individuals said to be responsible for the phishing attempt were charged by the U.S. Department of Justice (DoJ) in February, and also sanctioned by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) in September.

The security team at Binance had passed on the investigators’ findings to U.S. law enforcement, along with “other information and indicators,” the exchange said. It also work with U.S. agencies to help identify the suspects.

The DoJ and OFAC name Danil Potekhin and Dimitrii Kamasavidi, both from Russia, as the alleged perpetrators of the phishing campaign. Further, the Justice Department accuses both of also having carried out similar attacks on the Bittrex, Poloniex and Gemini cryptocurrency exchanges resulting in combined losses of $17 million.

A direct attack on Binance by the attackers saw no losses from the exchange, according to a blog post at the time.

However, around 566 bitcoin (now worth around $8.8 million) was taken from 142 users through the phishing campaign’s fake sites between Dec. 19, 2017, and March 2, 2018, according to the DoJ indictment. At least some of the cryptocurrency was placed in a Bitfinex account “controlled by Kamasavidi.”

Binance further said it would award the private investigators another $50,000 once the attackers have been placed in custody.



Source link

Market

Chinese City Plans Third Digital Yuan Pilot, Giving Away $3M in Prize Draw

Published

on

By



Lottery entrants can apply to win 200 digital yuan each.



Source link

Continue Reading

Market

Microsoft, India’s Tanla Launch Encrypted Messaging Infrastructure Built With Blockchain

Published

on

By


The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.



Source link

Continue Reading

Market

eToro Survey Finds Pensions and Endowments Are Finally Waking Up to Crypto

Published

on

By


Some of the largest and most risk-averse asset managers, including the likes of pension funds and endowments, are finally waking to crypto as an asset class, according to research released Thursday by trading platform eToro.

The eToro-commissioned market research, which quizzed 25 big institutions about investing in crypto, comes on the heels of news that BlackRock, the largest asset manager on the planet, is dipping its toe in bitcoin futures. 

“The respondents included endowments and pension funds,” said Spencer Mindlin, an analyst at Aite Group who carried out the research. “Funds and asset managers made up a proportion and some of the banks have asset management divisions and we spoke with a couple of folks there too.”

The overarching response from participants (a split between banks, brokers, fund managers and custodians) was that the crypto market has matured towards being institutional-grade over the previous two years, and the time was right to get involved.

“People are recognizing that where it took other markets, say, 10 years to mature, the crypto market has taken two years to reach levels of liquidity that we see in other asset classes,” Mindlin said in an interview. 

Regulated markets were the preferred execution venue of the respondents, followed by OTC market-makers and crypto spot exchanges. Unsurprisingly, the possible launch of regulated funds and ETF products were stated as guaranteeing institutional growth. 

The invitation to institutions looking at digital assets was further extended last week by news that the U.S. Office of the Comptroller of the Currency (OCC) had granted crypto custodian Anchorage a national trust charter to become a “digital bank.”  

Enlisting the help of digital asset custody specialists was also a priority, the research found, with the concept of so-called hot wallets (storage media connected to the internet for any significant length of time) generally viewed as inappropriate for the institutional market.



Source link

Continue Reading

Trending