Bitcoin Siphoning Malware Infects Event-Stream

Bitcoin Siphoning Malware Infects Event-Stream

Malicious code was found in open-source Copay and BitPay. Now fixed, but stayed unnoticed for a while

Node.js is a widely used JavaScript backend framework for web applications. Node's functionality can be extended by adding various modules and libraries.

EventStream is one of the libraries that adds a lot of useful functions to Node.js. It has 2 million downloads and is used by Fortune 500 companies and many startups, with Copay and BitPay wallets being two of those companies.

EventStream is an open source code library and for a long time has been maintained by github user dominictarr.

At one point Dominic got tired and passed the publish rights to a random person who emailed him and asked him to give him the rights.

The person updated the library to include more modules that contained malware. The malware was designed to target cryptocurrency wallets that would include it into their production code. This backdoor would allow the person to siphon crypto out of user wallets.

The vulnerability went undetected for several weeks. Fortunately, no funds were stolen and the backdoor was eliminated.

For those interested in more details regarding the incident, you can access the comprehensive article entitled 'Widely used open source software contained bitcoin-stealing backdoor.'

Related news

Bitcoin Buys Real Estate: $15.3M Condo Sold Using Bitpay

A real estate developer managed to sell a $15.3 million condo in New York for Bitcoin. The transaction was carried out using Bitpay and Starr and, according to the developer, it was “seamless.” This highlights Bitcoin as a viable alternative to fiat transactions and it’s far from being the only serious real estate deal cut with the cryptocurrency. Bitcoin Used For Buying a New York Apartment A real estate developer, Ben Shaoul, has sold a retail condo in Upper East Side New York and the transaction was carried out with Bitcoin. Both parties used Bitpay and Starr to complete the sale, and as per the broker representing the seller, it was a “seamless process.” The apartment, subject of the deal, is 11,400-square-foot, and the buyer is a Taiwanese company. Apparently, this isn’t Shaoul’s first attempt to complete a full real estate transaction using Bitcoin. Reportedly, he had previously said that Bitcoin payments would be acceptable to him and to the company he represents. Other Real Estate Transactions Using Bitcoin The real estate market isn’t usually associated with digital forms of payments such as Bitcoin. Nevertheless, there are plenty of examples  of high-worth properties were either sold or offered for cryptocurrencies. One of the first notable transactions using bitcoins was in 2014. A secret buyer had reportedly paid $1.6 million for a 1.4-acre piece of land. The full payment was for 2,739 bitcoins as the price of one was $580 back then. The sales director of the real estate company commented at the time: “Many of our buyers are in the tech sector and are early adopters of Bitcoin. We understand the importance of adapting to cutting-edge purchasing methods.” Other recorded transactions using Bitcoin suggested a few deals from 2017. Initially, another secret buyer used 3,300 bitcoins to purchase a mansion in Manhattan Beach. The price at the time was in USD was a bit over 3 million. Later, two multimillion-dollar homes were reportedly sold for $20 million using Bitcoin. Perhaps one of the largest deals which were supposed to be executed with Bitcoin came from Dubai. A luxury development, worth over $320 million was put on offer and buyers could participate with bitcoins. However, as per the latest reports, that development had stalled. The post Bitcoin Buys Real Estate: $15.3M Condo Sold Using Bitpay appeared first on CryptoPotato.

Bill Zielke Joins BitPay as Chief Marketing Officer

Atlanta, GA, Oct. 15, 2019 (GLOBE NEWSWIRE) -- BitPay, the largest global blockchain payments provider, today announced it has added Bill Zielke as its first Chief Marketing Officer. In this role, Mr. Zielke is responsible for executing BitPay's marketing strategy that supports the company's growth objectives, builds a strong business and consumer brand, and cultivates increased cryptocurrency acceptance and use.     "As BitPay looks to maintain and expand its leadership position as the largest global blockchain payments provider, we realized we needed a seasoned marketer to advance the company to the next level," said Stephen Pair, CEO, and co-founder of BitPay. "We are excited to have Bill on board as we attract more users to BitPay and drive greater merchant acceptance of cryptocurrencies. Bill is a strong leader and proven marketer with a track record of increasing demand generation and advancing go to market scaling efforts."   With more than 25 years of experience across the payments and ...Full story available on

Hong Kong Free Press Gives BitPay the Boot, Brings BTCPay Onboard

The Hong Kong Free Press, a media and news outfit based out of Hong Kong, has changed its payment processor. In an official tweet published earlier today, October 11, 2019, the media outlet announced that it would be replacing popular cryptocurrency payment gateway BitPay with its competitor BTCPay, an open-source platform for receiving bitcoin payments. A Troubled Relationship The Hong Kong Free Press is known for being particularly unbiased in its reporting. In a period where Hong Kong is mired in anti-government protests and political upheaval, many have turned to the publication as a means of getting unfettered, uncensored posts about events in Hong Kong.  The nonprofit depends on donations to run its operations, which was why it pitched its tent with BitPay, so it could receive bitcoin from donors easily. However, things became tense barely a month into this new partnership. At the time, Tom Grundy, the founder and editor-in-chief of the publication, took to Twitter to thank everyone who has donated HK$14,817 ($1,888 USD) to their cause. He followed that appreciation up with an announcement that the news agency will be temporarily suspending bitcoin payments due to BitPay’s refusal to send the funds to them. Grundy complained that BitPay had been sitting on the funds for almost a month, while adding that the payment processor had refused to process their transactions because Hong Kong banks don’t support IBAN, an international standard for identifying bank accounts while effecting financial transactions.  “Almost any alternative will be better,” he said. BitPay then responded on Twitter, saying that it was working on a solution: 2) Settling in GBP to a Hong Kong-based bank has different requirements for settlement info and validation, and our team is working to address the validation issue so this doesn't happen again.— BitPay (@BitPay) September 11, 2019 Ultimately, the press seems to have found an alternative in BTCPay. In the recent tweet, the news outlet noted that “Bitcoin donations via BTCPay help HKFP to eliminate processing fees,” adding that it will allow donors to remain anonymous, a feature which, for the more regulated BitPay, didn’t exist.  BTCPay: The Quiet Giant BTCPay was launched in 2017 as a decentralized alternative to BitPay for receiving bitcoin payments. Two years since its launch, it has grown to include a community of fanatical users and open-source developers.  “BTCPay was created when BitPay was trying to force all their merchants to use another altcoin instead of Bitcoin. The priority for BTCPay was to make sure that all software written to work on BitPay will work on BTCPay with minimal (or no) change,” Nicolas Dorier told Bitcoin Magazine last year.  With its open-source structure, merchants have access to more payment options than on BitPay. Besides Bitcoin, community developers have also added support for altcoins like Litecoin, Dash and Monero. The post Hong Kong Free Press Gives BitPay the Boot, Brings BTCPay Onboard appeared first on Bitcoin Magazine.
Bitcoin Magazine

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.