cryptocurrency Archives

Twitter Accounts Hacked for Bitcoin by a Fake Elon Musk

bitcoin, cryptocurrency, Cyber Security, Elon Musk, Hackers, Hacking, Security, Twitter hackbitcoin, cryptocurrency, Elon Musk, hack, TwitterOphtek, LLC

Nov 2018

Bitcoin remains a lucrative cryptocurrency and hackers are keen to cash in on it. And they’ve now scammed $180k in one day through hacking Twitter accounts.

With around 336 million active users, Twitter is one of the most popular social media sites and has attracted a number of authority figures in almost every niche you can think of. As a result, it’s fair to say that if your organization isn’t on Twitter then it needs to be on Twitter. It’s a fantastic marketing tool that can be used to engage customers, promote products and deliver instant marketing all over the world. However, it’s this level of interest in Twitter and the trust which users invest in official accounts that makes it susceptible to hackers.

Due to a recent hack of several major Twitter accounts, with large numbers of followers, hackers managed to deceive these followers by impersonating Elon Musk and requesting Bitcoin. Unbelievably, this approach was successful and the hackers managed to obtain around 28 Bitcoins valued at roughly $180,000. And this is all thanks to hacking successful Twitter accounts. As it’s likely that you run a Twitter account to support your business, we’re going to take a look at what happened and how you can protect your Twitter account.

What Did This Fake Elon Musk Do?

Elon Musk needs little introduction due to his fame which has been generated by co-founding PayPal and designing Tesla’s electric car range. Known as a man who can make money happen, he recently appeared on several major Twitter accounts such as Pantheon Books and UK clothing range Matalan. However, this wasn’t the real Elon Musk as these official Twitter accounts (complete with blue ticks) had simply had their user name changed and their profile picture replaced with a picture of Musk. These hacked accounts then promised that, as part of a Bitcoin giveaway, he would exchange a substantial amount of Bitcoin for a verification payment of anything from 0.1 to 3 Bitcoins.

The hackers were clever enough to even hack other Twitter accounts such as the National Disaster Management Authority of India and use these to send out fake ‘verification’ tweets that they had received multiple Bitcoins in exchange. Despite sounding too good to be true and requiring very little investigative work to discover that something wasn’t quite right, 392 transactions took place in just one day and allowed the hackers to make a small fortune very quickly. Although this behavior clearly violated Twitter’s guidelines, the anonymous nature of Bitcoin transactions means that there was relatively little risk for the hackers.

Protecting Your Twitter Account

It’s not known how the hackers behind the Elon Musk scam managed to breach so many official Twitter accounts, but it’s important that you ensure your Twitter account is secured. To help protect your organization’s Twitter account make sure you practice the following:

Keep your password secure through regular changes, long passwords and combination passwords
Twitter allows you to use two-factor authentication so that access is only granted to your account when a randomly generated code sent to a mobile device is entered
Try not to install third-party Twitter apps which request access to your Twitter account as it’s very difficult to monitor what they do with your data

If you can regularly follow these three steps then you’re going to significantly reduce the chances of losing control of your Twitter. And, remember, even if the hackers aren’t using your account to demand Bitcoin, losing control of your Twitter account, which is a crucial communication channel in modern business, could still be disastrous for your reputation and revenue.

For more ways to secure and optimize your business technology, contact your local IT professionals.

Infected Websites Are Mining Cryptocurrency

bitcoin, cryptocurrency, Hacking, Security, Security Threatsbitcoin, cryptocurrency, hackers, securityOphtek, LLC

Apr 2018

Hackers are now infecting websites in order to take control of your PC’s processor and help power the resource heavy activity of cryptocurrency mining.

Cryptocurrencies, such as Bitcoin, have been generating countless headlines in the last year due to the huge values being attributed to them in the financial world. Now, despite cryptocurrencies being purely digital, they still need to be mined to help produce new coins. Naturally, this isn’t a simple task or, otherwise, everyone would be doing it and making millions. Instead, you need plenty of time and even more computing power to carry out the mining process.

For a hacker, of course, harnessing such huge amounts of computing power isn’t exactly rocket science, so it’s no surprise that this is their latest enterprise. And, to make this task a little easier, they’ve started infecting websites to help steal your processing power and power their cryptocurrency mining.

Mining for Cryptocurrency

While leaching off the CPU of innocent users to facilitate cryptocurrency mining is nothing new, the use of websites to help capture this valuable resource is a new one on security experts. And the manner in which it’s being done is ridiculously simple.

Hackers are setting up malicious adverts on websites that run a JavaScript file directly in the browser whenever that site is opened. There’s no need for the hacker to have direct access to the victim’s PC, everything takes place in the victim’s browser. And, if the victim has JavaScript enabled, then the malicious code will automate and hand over a significant amount of their processor power to the hacker’s mining activities.

There are certainly more sensitive hacks – such as those which exploit or encrypt your data – but the real bugbear of having your CPU taken advantage of is the impact it has on your computer’s performance. Mining cryptocurrency requires significant processing power to power through the labor intensive tasks involved, so this drain on resources is going to cause your system to grind to a halt.

Is a Website Hacking Your Processor?

Organizations, in particular, do not want to see their productivity affected by a slowdown in performance, so it’s crucial that you understand the warning signs of these infected sites. If the internet is in use and your system starts slowing down then you should check the performance of your CPU by:

Right clicking the taskbar on your PC and selecting Task Manager. This will allow you to access the Performance tab where you can see which resources are taking up your processor’s usage.

If opening a webpage is causing your PC’s performance to rocket, then there’s a chance that this could be down to an infected webpage. The simplest way to deduce this is by closing individual webpages and monitoring the effect within your Performance tab in Task Manager.

Final Thoughts

These infected websites are not going to cause major damage to your organization, but they are going to put a drain on your resources. Understanding that any potential reductions in processor speed could be caused by this new method of hacking is vital to stay on top of your digital security.