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Instagram testing simpler method to retrieve hacked accounts

Instagram is in the process of making it easier for its users to recover hacked accounts. The Facebook-owned social media site today began testing an in-app method, essentially a two-factor authentication tool, that will be triggered either when Instagram notes the user is having trouble logging in or by the user clicking “need more help” on the login page. The app will then ask the person for some specific information related to the account, email account or a phone number that is associated with it, and then send a six-digit code to the contact source indicated that will allow entry to the account. “This experience allows you to recover your account even if the account information has been changed by a hacker e.g. if the username and associated contact information is changed. As we improve this experience, in the next few months our goal is to allow you to recover your account directly in the app, without the need for additional support from our community operations team,” Instagram said in a statement. This test is iOS only, Android will follow soon. The test is being rolled out only to those using iOS devices, but Instagram told SC Media Android will soon follow. The post Instagram testing simpler method to retrieve hacked accounts appeared first on SC Media.
SC Media

poloniex account hacked

I think my old poloniex account just got hacked. no funds in there i dont think but watch out anyone who uses it. I know because I got an email saying my password was changed. anyone experience this?
/r/CryptoMarkets

Reverse Pickpocket: Why Komodo Team Hacked Their Own Users

The cryptocurrency world is full of risks, from malicious hackers to unexpected bugs. But you’d never expect developers to hack their own users–and you’d be even more surprised if their next step was to give the stolen funds back. That’s the curious moral dilemma that faced developers for the Komodo (KMD) Platform last week. After discovering a major vulnerability in the Komodo Agama wallet, developers took an unusual emergency measure–stealing their own users’ funds, before a hacker could steal them first. According to developers, some $13M of Komodo tokens were removed in a preventive theft that foiled a months-long hacking scheme. How To Hack A Wallet According to the official explanation from the Komodo team, the exploit was intentionally inserted into Agama code after long preparation. “A hacker spent several months making useful contributions to the Agama repository on GitHub before inserting the bug,” the team explained in an official update. “Eventually, the hacker added malicious code to an update of a module that Komodo’s Agama was already using.” That meant anyone updating their wallet would automatically download the malicious code, which would store seed phrases and pass phrases in an external server. However, the backdoor was eventually discovered by Node Package Manager, a popular tool used to include external libraries into any project. NPM promptly notified Komodo developers, who had to take immediate action. This discovery presented a dilemma to the Komodo team: they knew that they would have to notify users, but they also needed to resolve the bug to prevent a hacker from immediately siphoning funds. The team believed the hacker was already collecting seeds and was simply waiting for the right time to steal the compromised funds. “We did a full scan, using the hacker’s exploits against him to understand which accounts had been affected,” explained Komodo CMO Steve Lee. “After assessing all possible options and scenarios, we made the decision to intervene on behalf of our users.” When the story of the vulnerability first broke, the community reacted with confusion, Lee said. “The most important thing we want people to understand is that we don’t have — and never have had — access to users’ private keys or seed phrases. We used the attacker’s same exploit to find every address that was affected, and we made the decision to use that same exploit to protect those funds and transfer them to a safe location. This was an internal white-hat counterattack.”Steve Lee, CMO of Komodo Platform  Komodo’s CTO, Kadan Stadelmann, had previously worked on IT security projects for both the Tunisian and Austrian Governments. Stadelmann’s quick thinking was essential in preventing further hacks, Lee said: “He is a very skilled and experienced white hat hacker who knew exactly what was going on and how best to rectify the situation.” As funds were drained away, the thief saw the tokens moving and tried to steal as many as possible. According to Lee, the hacker made off with around a million KMD($1.66M), but the potential theft could have been significantly worse had the Komodo team not intervened. Damage Control In an effort to clarify misunderstandings, Lee emphasized that this vulnerability is not a flaw in Komodo’s blockchain technology, and does not affect transaction security. “It is important to understand that our core technology has not been compromised. This is a software product suffering from an external software vulnerability. The Komodo blockchain and all dPoW protected ecosystem chains remain entirely secure. Komodo has always employed a robust internal security code review process, along with external 3rd party penetration-testing, on all our core blockchain technologies. We are now assessing solutions to extend a more robust security audit to all our software products as well.”Steve Lee, CMO of Komodo Platform Following the incident, the Komodo team began publicizing the details of the vulnerability, as well as instructions to users on how to recover their funds. Lee emphasized that the exploit only affects the Komodo Agama wallet; other wallets, including the Verus Agama wallet, remain safe. “Komodo’s policy in situations like these is to explore all possible solutions, and pick the one that puts our users and partners first,” Lee explained. “Understandably, we had some frustrated users, however the majority of the community response has been positive.” While the attempted theft provides a cautionary tale to the users of blockchain technology, the prompt by Komodo developers prevented a larger disaster for Komodo users. “Malicious attacks on our industry will continue to be an ongoing issue,” Lee said. “It’s through how we handle situations like these and how we learn from them that the technology can be made even more secure in the future.”   The post Reverse Pickpocket: Why Komodo Team Hacked Their Own Users appeared first on Crypto Briefing.
CryptoBriefing

Crypto Project Komodo Hacked Itself for $13M

Cryptocurrency project, Komodo, has hacked its own Agama wallet and prevented $13 million from being stolen after it learned… The post Crypto Project Komodo Hacked Itself for $13M appeared first on Invest In Blockchain.
Invest In Blockchain

Rumors Mount as Hacked Bitcoin (BTC) From 2016 Bitfinex Debacle Jump

172.5 Suspicious Bitcoin On The Move Yesterday, the crypto community was in for a bit of a surprise. Bitcoin from the infamous 2016 hack of Bitfinex, which resulted in the theft of nearly 120,000 BTC, was suddenly moved. As spotted by cryptocurrency transaction tracker “Whale Alert”, which tracks large fund transfers, hacked funds, and key blockchain processes, five suspicious transactions were seen on the Bitcoin chain within a few minutes. This comes after there were a few small Bitcoin transactions from the presumed hacker’s address were registered earlier this year. The details of the latest transfers can be seen below. Once community members saw this series of transactions, a flurry of rumors quickly hit Crypto Twitter. You see, in Bitfinex’s white paper for its LEO digital asset, the firm explained that it would try and communicate with the hacker to work out a compromise. It has been suggested that attempts are being made to allow the hacker to keep a portion of the winnings in exchange for a majority of the funds. What makes this even more interesting is that if Bitfinex manages to secure such a deal with the hacker, they would use the funds they receive to purchase LEO (just as Binance buys back BNB), thus pushing up the value of the asset greatly. Three Arrows Capital’s Su Zhu laid out more of the details below. #lern and #burn pic.twitter.com/XTmRvIhM9a— Su Zhu 🦁 (@zhusu) June 7, 2019 According to a spokesperson to The Next Web’s Hard Fork, however, the five transactions above, which amounted to $1.37 million worth of Bitcoin, have nothing to do with the plan outlined in the white paper. She explained: “We are not involved, and the movement is not tied to the procedure outlined in the UNUS SED LEO white paper.” It is unclear where the funds are headed, or what the hacker intends to do with them, but it is likely an attempt to get fiat for the tainted BTC. Hacked Funds Under Scrutiny The funds from Bitfinex’s historic debacle aren’t the only set of digital assets that have been under scrutiny. Earlier this year, Cryptopia, a New Zealand-based exchange known for its smorgasbord of faceless, little-known altcoins, was hacked for a purported $15 million worth of Ethereum and other ERC-20 tokens. As normal, exchange operators and data analytics firms jumped on the addresses in question, and have since done their best to notify service providers to blacklist the addresses in case transactions are made. This has effectively put a pin on the movement of the funds, save for this interesting $126 Ethereum transaction made the other day. The Cryptopia hacker is likely having trouble washing their funds, even through decentralized exchanges. The same can be said for the Bitfinex hacker too. ⚠ 0.5 #ETH (126 USD) of stolen funds transferred from Laundered Cryptopia Hack to unknown walletℹ️ Address notification limit increased to 1,000 USDTx: https://t.co/ReBO0FT3WQ— Whale Alert (@whale_alert) May 31, 2019 Title Image Courtesy of Marco Verch Via Flickr The post Rumors Mount as Hacked Bitcoin (BTC) From 2016 Bitfinex Debacle Jump appeared first on Ethereum World News.
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XRP Spikes 10% on Ripple MoneyGram Partnership News

Big partnership announcements have been thin on the ground for many of the major crypto companies recently. That changed for Ripple a few hours ago when the firm announced a strategic partnership with one of the world’s largest money transfer companies, MoneyGram. XRP Climbs 15% in a Week Compared to bitcoin and litecoin, XRP has been asleep for the past two months. Even Ethereum has outperformed it in terms of percentage gains. That all changed a few hours ago when XRP awoke from its range bound channel at $0.42 and surged almost 10% to hit an intraday high just over $0.46. A minor pullback followed in the hours after the announcement but XRP is still one of the day’s top performers. XRP price 1 hour candles – Tradingview.com XRP 00 has climbed almost 15% over the past week as it was trading just under $0.40 this time last Tuesday. Daily volume has just topped $2 billion as XRP market capitalization approaches $20 billion. The gap to ETH in second place is still $10 billion in terms of market cap, however. It has been one of the best weeks for XRP in terms of gains as the Ripple token has only made 27% since the beginning of the year. Big Partnership Driving FOMO The San Francisco based firm announced the partnership on its company blog late last night. It stated that the initial partnership will last two years during which Ripple will become the key partner for MoneyGram’s cross border payments and foreign exchange settlements. A substantial capital commitment of $50 million has also been pledged by the blockchain company enabling MoneyGram to draw it over a two year period in exchange for equity. Ripple’s xRapid system will be deployed for the partnership. It facilitates on-demand liquidity enabling instant transactions by reducing reliance on pre-funding. The XRP token will be used as the ‘real-time bridge’ between different currencies. Ripple CEO, Brad Garlinghouse, stated; This strategic partnership will enable MoneyGram to greatly improve its operations and enable millions of people around the world to benefit from its improved efficiency. This is a huge milestone in helping to transform cross-border payments and I look forward to a long-term, very strategic partnership between our companies. MoneyGram has a $600 billion global remittance market supporting multiple currencies in more than 200 countries. Traditional forex markets requiring advance purchases are currently used for international transfers. The partnership and leverage of Ripple’s native token are expected to reduce costs and increase transfer speeds for the firm. Alex Holmes, MoneyGram Chairman and CEO, added; Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management. Will XRP hit $0.50 this week? Add your comments below. Images via Shutterstock, Tradingview.com The post XRP Spikes 10% on Ripple MoneyGram Partnership News appeared first on Bitcoinist.com.
Bitcoinist

XRP Gains 5% as Ripple Forms Strategic Partnership with MoneyGram; Last Resorts for Both Firms?

Ripple bought a share issue from MoneyGram worth $30 million at $4.10 per share to acquire 8-10% of the company. MoneyGram would also have an option of infusing another $20 million over the next two years. A strategic partnership will now ensue where Ripple will become the critical service provider for cross-border payment and foreign exchange settlement using digital assets. The digital asset they will be leveraging is Ripple, using Ripple’s xRapid Product. This partnership is a massive step towards the vision with which Ripple began, and investors put money is XRP. Also Read: Ripple Fathers’ Day Gift Propels It Past $0.4400 as Bulls Return Until now, MoneyGram has had to use banking services to provide settlements for payments they initiate. Due to the difference in time of settling payments, MoneyGram has to take loans to increase the required liquidity. However, by deploying xRapid, they will now be able to leverage XRP’s liquidity to provide cheaper and faster settlements. MoneyGram Chairman and CEO, Alex Holmes noted, “Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.” MoneyGram reported a net loss of $24 million in 2018 compared to a net loss of $29.8 million for the fourth quarter of 2017. The money transmitting service provider has been working towards developing, and 2019 will be part of the roadmap. Hence, the success of this strategic partnership is crucial for MoneyGram. Also Read: Bitcoin Vs Facebook Coin: Should Bitcoin Hodlers Care About Facebook Coin? Currently, MoneyGram works independently by leveraging money from banks. Ripple CEO Brad Garlinghouse told the media,  “This will eliminate the need to deploy foreign bank accounts. That’s why MoneyGram has negative working capital. It will help customers and also smooth out their treasury operations,” XRP/USD 4-Hour Chart on Bitstamp (TradingView) Moreover, while XRP recorded gains around 5%, it rose from $0.43 to a reach high at $0.46. Notably, a partnership like this back in 2016 or 2017 would have likely propelled the price by 30%. This can be attributed to an apparent decrease in the use case for MoneyGram itself. Digital payment is quickly becoming more accessible than ever with major firms working on implementing or integrating digital currencies on their respective platforms. Facebook is the most prominent example of it. Do you think MoneyGram and Ripple will be able to increase their volume and user base in the current environment? Please share your views with us.  The post XRP Gains 5% as Ripple Forms Strategic Partnership with MoneyGram; Last Resorts for Both Firms? appeared first on Coingape.
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Ripple Partners MoneyGram to Enhance Cross-border Payments with XRP

Ripple has secured another major partnership with international money transfer company MoneyGram. This will allow the company to use Ripple’s native token XRP to provide liquidity for international payments to MoneyGram customers. This is in a bid to enhance the speed and efficiency of the payment system that MoneyGram operates. In an interview with Fortune on the partnership, Ripple CEO Brad Garlinghouse said: “This will eliminate the need to deploy foreign bank accounts. That’s why MoneyGram has negative working capital. It will help customers and also smooth out their treasury operations.” The partnership also gives Ripple an 8% to 10% stake in MoneyGram by paying $4.10 per share. This, however, does not give Ripple a voice in the dealings of MoneyGram for now as part of the agreement. MoneyGram, on the other hand, will have the opportunity of reviving its financial standing from Ripple’s investment which it direly needs after its share price crashed significantly.  It will also increase the efficiency of the payment platform, the management said. “We are very pleased with the terms of the Ripple investment which supports the Company with permanent capital and additional liquidity,” Larry Angelilli, chief financial officer of MoneyGram, said in a statement. “This partnership also provides MoneyGram with the opportunity to improve operating efficiencies and increase earnings and free cash flow,” Larry Angelilli, the chief financial officer of MoneyGram said. Ripple is the leader in remittance services as far as the blockchain industry is concerned. Its xRapid is second to none in terms of transaction efficiency and speed. With the new partnership, XRP which will be used for liquidity will be exposed to MoneyGram’s customers in over 200 countries globally. MoneyGram is the second largest provider of money transfer services in the world and while partnering with Ripple will ensure better service delivery to its customers, it is also a huge breakthrough for Ripple which has been looking to expand its reach further into the world. With hundreds of clients using Ripple’s payment platform, the company has grown significantly thus improving the international remittance settlement market by improving customer experience in conventional financial institutions. The post Ripple Partners MoneyGram to Enhance Cross-border Payments with XRP appeared first on ZyCrypto.
ZyCrypto

Ripple (XRP) enters key partnership with MoneyGram; invests $30 million

Ripple (XRP) enters key partnership with MoneyGram; invests $30 million - CryptoNinjas MoneyGram, a global money transfer company, announced today it has entered into a strategic agreement with Ripple (XRP), the provider of enterprise blockchain solutions for cross-border payments. The deal will enable MoneyGram to utilize Ripple’s xRapid product, leveraging ripples (XRP) in foreign exchange settlement as part of MoneyGram’s global payment process With an initial term […] Ripple (XRP) enters key partnership with MoneyGram; invests $30 million - CryptoNinjas
CryptoNinjas

Ripple Announces Game-Changing Partnership With MoneyGram

By CCN Markets: Ripple announced a partnership with money transfer giant MoneyGram today. Two Year Exclusive Agreement, Ripple and MoneyGram According to Ripple Labs, a two-year partnership has been struck with MoneyGram which makes Ripple its exclusive digital assets partner. The purview of Ripple’s use case here might be more limited than expected. It depends on how many of the transactions are sent and received using Ripple’s technology and how much they’re worth. Whatever the case, the partnership doesn’t, for example, mean that you’ll be able to buy and sell XRP at any MoneyGram location. Something along those lines would The post Ripple Announces Game-Changing Partnership With MoneyGram appeared first on CCN Markets
CCN
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