recommended reading

Threatwatch

Bitcoin storage service shortchanged $1.2 million by hackers

Password cracking; Software vulnerability

Inputs.io -- which touted itself as the most secure online wallet for the virtual crypto-currency -- admitted that attackers broke into the service twice, pocketing 4,100 bitcoin.

The hackers got into the host account by compromising old email accounts that were easy to reset. And, because of a software bug, they were able to sidestep two-factor authentication.

“Database access was also obtained, however passwords are securely stored and are hashed on the client,” the service’s homepage stated.

On a forum called Bitcointalk, user “TradeFortress,” the purported owner of inputs.io, said that he is attempting to issue partial refunds to individuals that lost money, but that he does not personally own enough bitcoin to fully reimburse everyone. Kaspersky Lab noted that TradeFortress appears to have learned a key lesson, offering the following advice to other users in the forum:

“I don’t recommend storing any Bitcoins accessible on computers connected to the internet.”

ThreatWatch is a regularly updated catalog of data breaches successfully striking every sector of the globe, as reported by journalists, researchers and the victims themselves.

sector

Financial Services

reported

November 8, 2013

reported by

Kaspersky Lab

number affected

Unknown

location of breach

Australia

perpetrators

Criminals

location of perpetrators

Unknown

date breach occurred

Unknown

date breach detected

Unknown

Thank you for subscribing to newsletters from Nextgov.com.
We think these reports might interest you:

  • Modernizing IT for Mission Success

    Surveying Federal and Defense Leaders on Priorities and Challenges at the Tactical Edge

    Download
  • Communicating Innovation in Federal Government

    Federal Government spending on ‘obsolete technology’ continues to increase. Supporting the twin pillars of improved digital service delivery for citizens on the one hand, and the increasingly optimized and flexible working practices for federal employees on the other, are neither easy nor inexpensive tasks. This whitepaper explores how federal agencies can leverage the value of existing agency technology assets while offering IT leaders the ability to implement the kind of employee productivity, citizen service improvements and security demanded by federal oversight.

    Download
  • Effective Ransomware Response

    This whitepaper provides an overview and understanding of ransomware and how to successfully combat it.

    Download
  • Forecasting Cloud's Future

    Conversations with Federal, State, and Local Technology Leaders on Cloud-Driven Digital Transformation

    Download
  • IT Transformation Trends: Flash Storage as a Strategic IT Asset

    MIT Technology Review: Flash Storage As a Strategic IT Asset For the first time in decades, IT leaders now consider all-flash storage as a strategic IT asset. IT has become a new operating model that enables self-service with high performance, density and resiliency. It also offers the self-service agility of the public cloud combined with the security, performance, and cost-effectiveness of a private cloud. Download this MIT Technology Review paper to learn more about how all-flash storage is transforming the data center.

    Download

When you download a report, your information may be shared with the underwriters of that document.