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Fusion Says $6.4 Million Token Theft Likely an Inside Job

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Fusion Says $6.4 Million Token Theft Likely an Inside Job

Investigators probing Saturday’s theft of cryptocurrency worth around $6.4 million from the Fusion wallet believe the crime may have been an inside job, according to a company blog .

On September 28, a private key was stolen and the wallet was compromised resulting in the theft of 10 million native FSN tokens and 3.5 million ERC20 FSN tokens. The Fusion Protocol is a blockchain-based platform that exchanges stablecoins and other tokens.

Remediation Action

The company announced it had taken a number of actions to help mitigate the losses, including the suspension of deposits and withdrawals of FSN tokens on primary exchanges – including Bitmax, Hotbit, and OKEX. The Medium blog added:

Abnormal transactions are currently being tracked, and there is uncertain evidence showing that theft may have been caused by personnel related to the Fusion Foundation. The Foundation is working closely with exchanges to gather further information and evidence.

The company said it was working urgently to recover the stolen currency through “technological approaches” and that it “deeply regrets” the incident and its impact on the “path of Fusion’s innovation”. It concluded:

While private key theft is an industry-wide risk and occurrence, we clearly must strengthen the protection around our private keys.

Scam News

Singapore Man – In Custody For Using Stolen Cloud Computing Power To Mine Cryptocurrency

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Singapore Man - In Custody For Using Stolen Cloud Computing Power To Mine Cryptocurrency
Singapore Man - In Custody For Using Stolen Cloud Computing Power To Mine Cryptocurrency

A Singaporean man faces a 34-year jail sentence after being charged for running a cryptocurrency mining operation using stolen identity data to gain access to cloud computing services.

Ho Jun Jia, also known as Matthew Ho, was charged under an indictment of 14 counts, allegedly for mining digital assets using stolen Amazon Web Servies (AWS) and Google Cloud computing power. Ho paid for these services using a credit card and identity data stolen from multiple victims in California and Texas. The indictment explained:

“HO used victims’ personal and stolen credit card information, along with phony email addresses, which he created, designed to spoof the authentic email account of identity-theft victims, to open accounts and to obtain access to cloud computing services.”

The indictment added that HO used his access to these computing services to mine cryptocurrencies such as bitcoin and ether, which was sold and exchanged for fiat currency through online vendor websites. While the indictment didn’t disclose the amount of money made through these operations, it claimed that Ho consumed more than $5 million in unpaid cloud computing services.

Indeed, a U.S. Department of Justice press release said that for a brief period during the few months Ho’s scheme was active, it was one of AWS’s largest consumers of data by volume. The charges in the indictment remain allegations and the case is still being investigated by the Seattle office of the Federal Bureau of Investigation. HO faces a total of 34 years in prison – up to 20 years for wire fraud, up to 10 years for access device fraud, and aggravated identity theft all to run consecutively.

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Scam News

Has A Student Attempted To Hack The West Virginia Voting Blockchain?

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Has A Student Attempted To Hack TheWest VirginiaVoting Blockchain
Has A Student Attempted To Hack The West Virginia Voting Blockchain?

The Federal Bureau of Investigation (FBI) is investigating whether a student at the University of Michigan attempted to hack the West Virginia’s voting app.

United States Attorney for the Southern District of West Virginia, Mike Stuart, wrote that the FBI is investigating the “unsuccessful attempted intrusion” by an outside party to gain access to the Voatz app, a mobile app that was used to collect ballots from overseas and military voters in the 2018 election. Stuart said that during the West Virginia’s 2018 election cycle his office was alerted by West Virginia’s Secretary of State, Mac Warner, who identified activity that may have been an attempt to gain unauthorized access to the Voatz voting app. The blockchain-based application uses a multitude of security layers for identity verification, such as facial recognition, thumbprints, and voter-verified ballot receipts. Warner said:

“Every safeguard designed for the system was very successful and worked as designed: to gain as much information as possible, and protect the sanctity of the voters’ identities and ballots. Although the details of the investigation cannot be disclosed, we can say that no votes were altered, impacted, viewed or in any way tampered with.”

Warner added that there is no evidence “that even a single vote was changed in the 2018 election,” adding:

“Because of our hard work and our investments, all of our systems worked according to plan, and more robust security measures and protocols are being deployed ahead of 2020.”

Warner’s office communicated to the FBI that the activity of the attempt came from IP addresses linked to the University of Michigan. The FBI is now looking into a person or persons who might have tried to hack the voting app as part of a course on election security.

It was previously reported that Warner’s office communicated to the FBI that the activity of the attempt came from IP addresses linked to the University of Michigan. The FBI is now looking into a person or persons who might have tried to hack the voting app as part of a course on election security.

“The application of democratic governance that will be implemented by the Digital Party is based on the internal governance solution that Æternity uses for internal community decision-making, which is a completely new architecture, allowing greater participation of citizens in political decisions at all levels, with unalterable reliability.”

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Ethereum News

Hacker Gives Back Ethereum Domains They Got In Auction Bug

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Hacker Gives Back Ethereum Domains They Got In Auction Bug
Hacker Gives Back Ethereum Domains They Got In Auction Bug

The hacker who stole 17 Ethereum domain names during the Ethereum Name Service’s (ENS) auction decided to return them all.

On Oct. 4, digital-collectibles marketplace OpenSea said that all of the stolen ENS names were returned successfully and that bidding on domain names will restart again in the coming weeks. In the beginning of September, the ENS bidding process was exploited by a hacker who managed to steal 17 domain names for lower bids than other users placed. OpenSea, who ran the auction, explained that a bug distributed ENS domains to participants who did not hold the highest bid. The stolen domain names, which included apple.eth, defi.eth, wallet.eth, and pay.eth were all blacklisted and the hacker was promised an attractive offer for returning the domain names. OpenSea said:

“We appreciate the work you’ve done exposing vulnerabilities in the auction system. […] To compensate for the work you’ve done to expose these vulnerabilities, we’re prepared to offer you 25% of the winning bid price of each name you return. We’ll also refund your purchase price.”

One domain, coffeshop.eth, has already received a bid of 100 wrapped Ether (WETH), worth around $14,000 at press time.

Australian citizen Katherine Nguyen pleaded guilty to stealing $450,000 in XRP in January 2018. She hacked into the email account of a man with the same last name and proceeded to steal all of his XRP, before unlocking his account two days later. Cybercrime Squad Commander Arthur Katsogiannis said at the time:

“It’s a very significant crime and it’s the first we know of its type in Australia where an individual has been arrested and charged for the technology-enabled theft of cryptocurrency.”

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