Search This Blog
Powered by Blogger.

Blog Archive

Labels

Load More
Trendy Right Now

Popular Posts

Showing posts with label Genesis Market. Show all posts
Sensitive Data Leak
Bitcoin Blockchain Crypto Crypto Hack Crypto heist Cryptocurrencies Data Breach Financial Fraud FTX Genesis Market Kroll Phishing Attacks Sensitive Data Leak

Cryptocurrency Giants FTX, BlockFi, and Genesis Hit by Kroll Hack

Customers of prominent cryptocurrency companies FTX, BlockFi, and Genesis had their financial and personal information exposed in a recent cybersecurity breach. Concerns have been expressed about the security of private information in the cryptocurrency sector as a result of the hack.

The breach, according to claims from sources, was carried out by taking advantage of flaws in the systems of Kroll, a reputable data management business. The personal information of innumerable users is now in danger due to Kroll's involvement in processing the client data of these cryptocurrency companies.

FTX, BlockFi, and Genesis being prominent names in the cryptocurrency sector, have a significant user base that relies on their platforms for trading, lending, and other financial services. The compromised data includes user names, email addresses, phone numbers, transaction histories, and potentially even account passwords. This sensitive information falling into the wrong hands could lead to identity theft, phishing attacks, and financial fraud.

The incident raises questions about the industry's overall data security practices. While the cryptocurrency market has been praised for its decentralized nature and robust encryption, this breach underscores the persistent vulnerabilities that exist in digital systems. Companies dealing with such high-value assets and sensitive data must prioritize cybersecurity measures to prevent such incidents.

The breach has consequences beyond only the immediate loss of client data. Users may stop using these platforms, which could result in lost revenue for the impacted businesses. Regulatory organizations might examine these occurrences more closely, which would result in tougher compliance standards for cryptocurrency businesses.

FTX, BlockFi, and Genesis have assured their consumers that they are acting right now in reaction to the intrusion. They are trying to improve their security procedures, assisting law enforcement, and carrying out in-depth investigations to ascertain the scope of the intrusion. Users who are affected are advised to modify their passwords, use two-factor authentication, and be on the lookout for phishing attacks.

The Bitcoin industry as a whole needs to pay attention after this tragedy. The digital world has unmatched prospects, but it also has its own challenges, notably in terms of cybersecurity. To properly protect the information of their users, businesses must implement proactive security measures, carry out routine audits, and spend money on powerful encryption.

Customers of these affected sites must implement suggested security procedures and stay up to date on developments as the investigation progresses. Additionally, the event highlights how crucial industry cooperation is to jointly fix vulnerabilities and improve the overall security posture of the Bitcoin ecosystem.


Read more »
US Department Of Justice
Criminal Darknet Cyber Crime Dark Web Darknet Markets FBI Genesis Market Underground Forum US Department Of Justice

Genesis Market: Formerly a Popular Dark Web Marketplace Now up for Sale


If one wishes to own a defunct darknet business, they could try reaching out to the backers of Genesis Market, the formerly high-and-mighty seller of stolen data. Today, they appear to be desperate to sell their formerly valued asset for scrap.

According to a report by The Record, several advertisements for the sale of Genesis have recently appeared on underground forums. The FBI deactivated the website early this year as part of an investigation that saw the arrest of numerous site administrators and users. The platform had previously been a popular location for hacking services and stolen data.

The FBI later conducted hundreds of raids in countries all over the world, where several websites were seized that effectively crippled the platform’s operation. One might assume that there would not be much left to sell given the extent of the operation.

However, according to The Record, on June 28 a user account that appears to be associated with Genesis' operators started posting about the business's sale. The user asserted that the darknet platform of the marketplace was still functional and that the FBI had only taken control of the open web domains of the marketplace. Reportedly, the sale involves illegal business infrastructures, including “a complete database (except for some details of the client base), source codes, scripts, with a certain agreement, as well as server infrastructure.”

Although if you are a potential buyer, there are certain concerns that come with such acquisition. They include: 

  • Buying these sites is certainly illegal, and may get you in trouble. 
  • The likelihood that it is some sort of FBI honeypot operation does not seem implausible. 
  • It is hard to assume that Genesis will make a comeback anytime soon because its reputation among users of the darknet is completely destroyed.

Regardless, the answer to how the dark net is doing lately is quite intriguing. Past few years have apparently been challenging for the virtual underworld, thanks to the active and aggressive operations against it by the Justice Department.

A report from February notes that the Darknet revenue has lately experienced losses. The FBI exposing the Hydra marketplace further dropped the revenue flow exponentially. Prior to its downfall, Hydra was one of the most popular cybercrime hotspots on the web. The state’s operation against it seems to have hugely impacted the dark web economy. The Genesis shutdown is likely to have only contributed further to the disturbance in the web’s murkiest realm.

Read more »
US Department Of Justice
CNN Cyber Crime FBI Genesis Market Online crime forum Operation Cookie Monster Sting operation US Department Of Justice

Operation Cookie Monster: FBI Seizes Genesis Market Involved in Identity Theft


More than 100 individuals have been detained by the FBI and European law enforcement agencies for being involved in a global cybercrime forum, that apparently aided in some large-scale identity thefts.

According to the US Justice Department, the operation was directed at Genesis Market, an invitation-only crime forum that has been selling information obtained from more than 1.5 million computers worldwide that contains the login information for more than 80 million user accounts over the past five years.

On Tuesday, the FBI carried out raids on the main websites conducting cybercrime activities from more than a dozen countries, from the Netherlands to Australia.

A senior FBI official told reporters on Wednesday that at least some of the arrests took place in the US but declined to provide any more details due to an ongoing investigation. “Victims of Genesis incurred losses that exceed tens of millions of dollars,” the FBI official said.

Reportedly, 45 of 56 FBI field offices across the US were involved in the investigation, with Attorney General Merrick Garland, in a statement calling the cybercrime sting operation “unprecedented” for law enforcement.

According to the seizure notice seen by CNN, the FBI seized the web domains of Genesis Market in response to a court order from the US District Court for the Eastern District of Wisconsin. As per the seizure notice, the FBI called the takedown "Operation Cookie Monster," a pun on the forum's sale of "cookies," or information about web browsers.

The Genesis Market has played a major part in providing cybercriminals access to compromised computers to carry out cyber frauds like identity theft and ransomware attacks.

According to cybersecurity researchers, the crime forum, which has advertised login information for individual bank accounts, was developed out of research that hackers conducted on anti-fraud technologies used by hundreds of banks and payment networks.

Genesis Market also offers "digital fingerprints" for sale, a collection of computer-generated information used to identify specific people online. According to researchers of cybersecurity company Sophos, advertisements on Genesis Market have asserted that a hacked computer's fingerprints will remain current as long as someone has access to it.

The seizure conducted by the FBI is the latest of the many international law enforcement stings that involve coordinated arrests and raids globally.

Genesis Market “was one of the most, if not the most popular marketplace for stolen network and user information[…]Based on my experience, the void will be filled by those who were not arrested,” said Khodjibaev senior threat intelligence analyst at Cisco Talos.

While some claimed cybercriminals are taken offline by arrests, there is however an extensive demand for stolen personal data, which leads to the rapid emergence of new alleged hackers to fill their places.

Read more »
Subscribe to: Posts (Atom)