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Bitcoin [BTC] owners at risk; Google’s email security lead says, our data is all over the place

Ajay Narayan

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Bitcoin [BTC] owners at risk; Google’s email security lead says, our data is all over the place
Source: Unsplash

Google’s email security lead Mark Risher, who oversees email fraud, abuse and identity issues, spoke about how people had to readdress the issue regarding threats to their email accounts, in a recent interview with CNBC.

He spoke about individuals bragging about holding a lot of Bitcoin [BTC]s on various public message boards and how that could make them a vulnerable target to scammers. Mark stated that many scammers research potential victims through social media and other sources before approaching them.

Mark oversees the company’s initiatives to protect Gmail and other Google properties against cyber attacks. He said:

“It could just be a case of mistaken identity or guilt by association. They could be using someone who seems to be low value to pivot toward somebody considered a higher value target, like somebody political in nature….. Or maybe they saw that you were discussing Bitcoin on a public message board.”

Risher stated that in such cases, the attackers would get access to social profiles or email accounts of individuals and use it to fish out valuable information. Attackers would also break into financial accounts or cryptocurrency wallets of individuals and reset their password.

The email security lead opined that people who hold cryptocurrencies in digital wallets had become a common target to attackers. Many of the victims are often those who have been actively posting on public message boards through which attackers attempt to get access to their email accounts. He further stated that many cryptocurrency wallet providers would allow users to reset their digital wallet through email to get access. Attackers used the email reset option and open the wallets to steal cryptocurrency.



According to Mark, scam messages are not like the decade-old email scams. Attackers do vigorous research on the victim, making the email attack indistinguishable from the personal messages we receive from friends or family. He added that people tend to contribute to this growth by forgetting about the email addresses, message board posts, and social media accounts created by them. Thus, the amount of data we share grows and scam messages would seem authentic. Criminals were also targeting executives at prominent businesses or political figures by finding the people who work with them or were connected to them.

Recently, the official MEGA chrome extension was compromised, allowing attackers to access saved passwords, usernames, and cryptocurrency wallet addresses of individuals from Amazon, GitHub, Google, and Microsoft portals.





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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.

Bitcoin

Bitcoin’s [BTC] dump may have triggered migration of BTCs worth hundreds of millions

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Bitcoin's [BTC] dump may have triggered migration of BTCs worth hundreds of millions
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Bitcoin dropped by 3.55% over 3 hours, an approximate drop of $200, causing many altcoins to dip by more than 8%. Although it might be a coincidence, thousands of Bitcoins started to migrate from wallets to exchanges, wallets to wallets, and exchanges to wallets.

Whale Alert, a Twitter user, pointed out the same in his tweets. A total of  25,000 BTC were sent in under 20 minutes, in multiples of 5000 BTC each, in a wallet to wallet transaction. Two of these transfers were initiated from an unknown wallet [3BYv2L9zCFYpvRQXakqkVWa7JyRw6Q9ZAm] to two other unknown wallets [3PWNGS2357TnjRX7FpewqR3e3qsWwpFrJH, 3CAF6ZjtJKaHiJixViXncTRwG3N5ss9vn4].

These 5 transfers were worth approximately $140 million. The third transfer took place from multiple wallets to a single wallet [3HuUiXmKN3beQSoM97kWjK1fesWWJvKvaZ].

Additionally, there were two massive transactions that took place two hours after the drop; the first transaction involved 14,999 BTC, while the second involved 11,000 BTC.

The former transaction was sent from two wallets to a single wallet [3GaB3nRWA1PLc3XQkkbpVtFwYYZEuMxD4i], which is the balance of the wallet. The latter transaction was similar to the one mentioned above, as the transaction originated from two wallets.

Another transaction containing 9,000 BTC was transferred from 357R3FeNmySYeHuRfyhFd6nMwzoLDdjfwV to 3NmHmQte2rP8pS54U3B8LPYQKkpG1pFF69. The sender has approximately 9,412 BTC after the transfer, while the recipient has 9,000 BTC.

All of the above transactions were worth approximately $332 million. The massive BTCs transferred could be due to the recent fall in the price. It can also be speculated that BTC whales were securing their profits earned from the shorts.

A Twitter user @Emperor_YZ commented,



“and who say the fee is high, just 30,360 sat ($1.67)🤔 for a $82.37 million transfer …”

Another user, @Omarin0, commented,

“It would have also been 1.67$ for a 1.67$ transfer. 100% fee. How nice”

@Emperor_YZ replied,

“wrong, you can use LN or other layer 2 apps to do small amount payments 😎 for BTC base layer, network security is always top priority, L2 is super cheap and can settle at base layer later”





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