Blockchain 

PIVX, Possibly Other PoS Chains Vulnerable to Bug, Attackers Profit

Private transactions cryptocurrency PIVX and over 200 other blockchains are vulnerable to a vulnerability allowing the attacker to obtain disproportionately high staking rewards. A major staking vulnerability Cryptocurrency consulting firm Lunar Digital Assets claimed in a post published on its website on Aug. 12 that a staking vulnerability is being used across PIVX and its forks. The weakness reportedly allows the attacker to obtain mathematically impossible staking rewards on vulnerable Proof of Stake (PoS) chains. According to the post’s author, the PIVX development team claimed to have solved the issue…

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Bitcoin 

Riviera Beach City Council Agrees to Pay $600,000 in BTC to Ransomware Attackers

The city council of Riviera Beach, Florida has agreed to pay nearly $600,000 worth of Bitcoin (BTC) to regain access to data encrypted in a hacker attack, the New York Times reported on June 19. On May 29, the city experienced “a data security event” when a police department employee opened an allegedly infected email attachment, which eventually resulted in the online system breakdown. The hackers allegedly encrypted government records, blocking access to critical information and leaving the city without an ability to accept utility payments other than in person…

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Blockchain 

64% of Ransomware Attackers Launder Proceeds via Crypto Exchanges

United States-based blockchain intelligence firm Chainalysis claims that 64% of ransomware attack cash-out strategies involve the laundering of funds via cryptocurrency exchanges. The data was revealed in a Chainalysis webinar attended by Cointelegraph on May 30. A ransomware attack involves the infection of a target with malware and the demand of a ransom payment — frequently denominated in cryptocurrencies. The payment is demanded in return for the ostensible delivery of a decryptor tool that can help victims recover access to their data. Chainalysis — which provides blockchain analytics tools that…

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Ethereum 

Ethereum Classic 51% Attackers Allegedly Returned $100,000 to Crypto Exchange

The Ethereum Classic 51 percent attacker has reportedly returned $100,000 to cryptocurrency exchange Gate.io, a post on the official exchange’s blog reports on Jan. 12. The company further noted that they tried contacting the attacker but didn’t get any reply until now, and that they do not know the reason why the funds have been returned. The exchange declared: “If the attacker didn’t run it for profit, he might be a white hacker who wanted to remind people the risks in blockchain consensus and hashing power security.” A white hat…

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