Autor Cointelegraph By Brayden Lindrea

Crypto app targeting SharkBot malware resurfaces on Google app store

A newly upgraded version of a banking and crypto app targeting malware has recently resurfaced on the Google Play store, now with the capability to steal cookies from account logins and bypass fingerprint or authentication requirements.A warning about the new version of the malware was shared by malware analyst Alberto Segura and treat intelligence analyst Mike Stokkel on Twitter accounts on Sept. 2, sharing their co-authored article on Fox IT’s blog. We discovered a new version of #SharkbotDropper in Google Play used to download and install #Sharkbot! The found droppers were used in a campaign targeting UK and IT! Great work @Mike_stokkel! https://t.co/uXt7qgcCXb— Alberto Segura (@alberto__segura) September 2, 2022According to Segura, the new version of the malware was discovered on Aug. 22, and can “perform overlay attacks, steal data through keylogging, intercept SMS messages, or give threat actors complete remote control of the host device by abusing the Accessibility Services.”The new malware version was found in two Android apps — “Mister Phone Cleaner” and “Kylhavy Mobile Security,” which have since amassed 50,000 and 10,000 downloads respectively. The two apps were able to initially make it to the Play Store as Google’s automated code review did not detect any malicious code. However, it has since been removed from the store. However, the 60,000 users who installed the apps may still be at risk and should remove the apps manually, observers have suggested. An in-depth analysis by Italian-based security firm Leafy found that 22 targets had been identified by SharkBot, which included five cryptocurrency exchanges and a number of international banks in the US, UK, and Italy.As for the malware’s mode of attack, the earlier version of the SharkBot malware “relied on accessibility permissions to automatically perform the installation of the dropper SharkBot malware.” But this new version is different in that it “asks the victim to install the malware as a fake update for the antivirus to stay protected against threats.”If installed, once the victim logs into their bank or crypto account, SharkBot is able to snatch their valid session cookie via the command “logsCookie”, which essentially bypasses any fingerprinting or authentication methods used.This is interesting!Sharkbot Android malware is cancelling the “Log in with your fingerprint” dialogs so that users are forced to enter the username and password(according to @foxit blog post) pic.twitter.com/fmEfM5h8Gu— Łukasz (@maldr0id) September 3, 2022

Related: Sneaky fake Google Translate app installs crypto miner on 112,000 PCsThe first version of the SharkBot malware was first discovered by Cleafy in Oct. 2021.According to Cleafy’s first analysis on SharkBot, the main goal of SharkBot was “to initiate money transfers from the compromised devices via Automatic Transfer Systems (ATS) technique bypassing multi-factor authentication mechanisms.”

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Nigeria, Binance in early-stage talks for crypto-friendly economic zone

The Nigerian government has held a preliminary meeting with crypto exchange Binance to potentially establish a special economic zone aimed at supporting crypto and blockchain-related businesses.According to a Sept. 2 post from the Nigeria Export Processing Zones Authority (NEPZA), the authority has held preliminary talks with Binance and technology infrastructure company Talent City to discuss the proposed digital city, referred to as a “Virtual Free Zone.”NEPZA managing director Adesoji Adesugba said the proposed zone will be a first in West Africa and act similar to Dubai’s virtual zones, which are designed to provide crypto-friendly laws, regulations, and tax incentives for crypto businesses.Professor Adesoji Adesugba (NEPZA MD/CEO), Sameera Kimatrai (Binance Senior Legal Counsel), Luqman Edu (CEO Talent City), Sikiru Lawal (NEPZA Director). pic.twitter.com/73scHU4hYE— NEPZA (@officialNEPZA) September 2, 2022Nigeria has one of the highest rates of cryptocurrency adoption worldwide, with over 22 million crypto owners according to Triple A.Adesugba said the zone would help develop Nigeria’s digital economy and “widen employment opportunities” for Nigerian citizens, stating: “Our goal is to engender a flourishing virtual free zone to take advantage of a near trillion dollar virtual economy in blockchains and digital economy.” The early-stage plans were discussed on Friday during a meeting between Adesugba, Binance Executive Director Nadeem Ladki, Talent City CEO Luqman Edu, and NEPZA director Sikiru Lawal in Dubai.Adesugba added that the move would be part of Nigeria’s economic development agenda, with the vision to further drive crypto adoption in the West African region. “We seek to break new grounds to widen economic opportunities for our citizens in line with the mandate of the Authority, the directive of the Honorable Minister and the economic development agenda of President Muhammadu Buhari,” he said. Related: Safe Space: A Guide to Special Economic Zones for Crypto, From China to SwitzerlandFueled by an inadequate financial system and unstable government policies and inflation, crypto adoption across Africa has continued to rise over the last few years. A recent CoinGecko survey found Nigerian residents to be the most crypto-obsessed nation, having searched the terms “cryptocurrency” and “buy crypto” more than any of the other 14 countries surveyed. Nigeria also launched eNaira in Oct. 2021 – the nation’s first central bank digital currency (CBDC), which is currently in its second phase and is aimed to drive financial inclusion by onboarding the unbanked citizens of Nigeria. Cointelegraph has reached out to Binance for more details about the discussions but did not receive an immediate reply. 

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Network outages have been Solana’s ‘curse,’ says co-founder

Network outages continue to be the Solana network’s biggest challenge, according to its co-founder Anatoly Yakovenko.Launched in 2020, the Solana network has suffered a number of network outages, which have come from a number of different congestion and spam events, according to Yakovenko. In a Sept. 2 interview with Real Vision co-founder Raoul Pal, Yakovenko said the network outages had been Solana’s “curse,” but said the outages have resulted because of the network’s low-cost transactions. “That’s been, I guess, our curse, but it’s because the network is so cheap and fast that there are enough users and applications that are driving that.”However, while the outages have “prevented users” from using the network, the Solana CEO said the network itself hasn’t been compromised. He also argued that each blockchain is built differently and has their own “failure case.”For example, Yakovenko noted that when the Bitcoin network block production halted for two hours in the past, it was still considered normal. “[Bitcoin] is designed to be extremely resilient […] when a bunch of Chinese hash power shut down, there were times where there are two hours between blocks in Bitcoin. And that’s totally fine,” he explained, adding that the same production halt would be seen as a failure for Solana. “If there’s two hours between blocks in Solana, the network’s dead because it’s designed to make a block every 400 milliseconds.”Solana was built to be a high transaction speed, low-cost smart contract platform, which processes “30 million transactions per day,” making it “more than all other chains combined,” said Yakovenko“Once you make a faster network, the failure case is different than one on something like Bitcoin or Ethereum.”However, Yakovenko argued that the outages themselves aren’t entirely a bad thing “because all [of] these challenges are coming because we have users.”“This is our biggest challenge, which is maybe the one that I like to have because of all these challenges that are coming because we have users on the chain on a daily basis,” he added. Related: Reliably unreliable: Solana price dives after latest network outageSolana has suffered at least seven network outages since its launch in 2020, with five of them coming in 2022 alone. One of the longest production halts lasted up to 17 hours in September 2021.Yakovenko said the network outages resulted from the validators not being able to process transaction loads at peak periods:“I think some people have seen 10 million packets per second being submitted to a validator. And if there’s a bug in any one of those validators where memory grows really […] quickly, that validator could shut down.”Among the most notable ones include a denial-of-service attack caused by bots spamming the Raydium protocol in Sept. 2021, another seven hour outage caused by bots on a nonfungible token (NFT) application in May. 2022 and a code bug halting block production on the network in Jun. 2022. The Solana token, SOL, is currently priced at $32, up 3.83% over the last 24 hours.

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CZ hits back at claims Binance is a Chinese company

Binance CEO Changpeng Zhao (CZ) has hit back at critics and conspiracy theorists who claim Binance to be a Chinese-based “criminal entity” that “secretly [belongs] in the pocket of the Chinese government.”CZ’s response to critics came from a Sept. 1 blog post via Binance, and stems from a Twitter spat with a former Washington Post journalist who asked him; “While I have you here, who’s Guangying Chen?” He explained that the question is in reference to a conspiracy theory alleging that his personal friend and Chinese national Guangying Chen is the secret owner of Bijie Tech (a company he founded in 2015) and possibly also Binance. However, CZ explains that Chen is a colleague of his that he met through a friend, which he hired to “manage the back office” at Bijie Tech before re-hiring her again at Binance, adding that conspiracy theorists then linked her as a secret owner of the firms given that she was one of the few to have initially remained in China.Websites such as Scam Binance allege that Chen at one stage owned 93% of the shares in both Bijie Tech and Binance, among other things. CZ stated that such rumors originated from an “old campaign that a competitor launched via an anonymous microsite.”“As a result, both she and her family have been targeted and harassed by the media and online trolls. Had I known how much of a negative impact this would have on her life, I never would have asked her to do what seemed like such an innocuous step at the time,” he said. Links to ChinaCZ also strongly denied the claims that his company has close links to China and its government, and even went as far as discussing some of his troubling personal and business-related experiences with Chinese authorities. “The greatest challenge that Binance faces today is that we (and every other offshore exchange) have been designated a criminal entity in China. At the same time, our opposition in the west bends over backward to paint us as a ‘Chinese company.'” CZ is of the view that the ill-intended inferences come from the fact that he, along with a few other Binance employees are of Chinese ethnicity, making Binance “an easy target for special interests, media, and even policymakers that hate our industry.””The inference is that because we have ethnically Chinese employees, and perhaps because I am ethnically Chinese, we are secretly in the pocket of the Chinese government,” he said. Views to that effect have been expressed by the media as recently as Aug. 30, with a Fortune India article describing Binance as a “Chinese-origin[ed] crypto exchange”, which claimed Binance and other Chinese-linked centralized crypto exchanges were “invading” India by freely operating their services within India through illegal means.Chinese-infiltrated narratives continue to spread despite Binance never being legally incorporated in China and never operating like a Chinese company culturally, said CZ. CZ added that Binance has subsidiaries in a number of countries, such as France, Spain, Italy, UAE, and Bahrain, and has grown a team around the globe, adding that “we are active in pursuing top talent, no matter where they hail from.”“Over the past two years, as we expanded into Europe and the Middle East and recruited a more senior leadership team, Binance’s executive team is now more heavily dominated by Europeans and Americans. “Our broader employee base is even more globally distributed. Despite these facts, some people insist on calling us a ‘Chinese company,’” he added. Having fled from China to Canada at 12, CZ later returned to start a company in 2015, but was later shut down by the Chinese government:“Two years before Binance, I started a company called Bijie Tech, providing exchange-as-a-service platforms to other exchanges. We got 30 clients on board, and business was good […] Unfortunately, in March 2017, the Chinese government shut down all such exchanges. All of our clients went out of business.”CZ said that he brought a few past Bijie Tech employees in to launch Binance in Jul. 2017, however the Chinese government again effectively shut it down six weeks later by issuing a memorandum stating that crypto exchanges were not allowed to operate in China, adding:“They then blocked our platform behind the Great Firewall. At this point, most of our employees left China. Only a small number of customer service agents remained by late 2018.”Related: Binance CEO sues Bloomberg subsidiary alleging defamationBinance was legally incorporated in Cayman Islands in 2017, but currently has no formalized headquarters. As of Oct. 2021, Binance had accumulated an estimated 28.6 million crypto users, making it the world’s largest centralized crypto exchange. In Nov. 2021, a former Binance executive said the company is worth over $300 million.

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Tether requests Roche Freedman to be booted from class action

USDT-issuer Tether wants law firm Roche Freedman “terminated” as counsel from the Bitfinex and Tether class action lawsuit following a motion from Kyle Roche to be removed as counsel in the case.In an Aug. 31 court order request by Elliot Greenfield of Debevoise & Plimpton LLP, the law firm representing Tether and Bitfinex requested that Roche’s law firm be removed from the case entirely and to certify that they’ve returned or destroyed all defendant-issued documents and have not shared them with any third-party, including Ava Labs. The request follows shortly after Roche submitted a Notice of Motion to Withdraw from the Tether class action lawsuit amid ongoing fallout from a recent CryptoLeaks expose, which alleged the U.S. lawyer had a secret pact to “harm” Ava Labs competitors in exchange for AVAX tokens and Ava Labs equity. Greenfield said Roche’s statements published on the CryptoLeaks website raised a “serious concern” that Kyle Roche “may be abusing the discovery process” and “misusing information” he learns through litigation.”He states that he is Ava Lab’s ‘crypto expert’ because he ‘sue[s] half the companies in the space’ and ‘know[s] where this market is going’ because he has ‘seen the insides of every single crypto company.’”Greenfield said the concerns are highly relevant to the case, highlighting that Roche Freedman LLP “has served a number of document requests seeking information that has no apparent link to the claims and defenses in this lawsuit.”The lawyer has also stressed the need for the documents to be repressed, “as they include not only confidential, competitively sensitive information about Defendants’ businesses but also information that, if disclosed, would threaten the privacy and security of Defendants and their customers.”While Kyle Roche has filed motions to remove himself from the case and others, Greenfield said the withdrawal of Roche “does little if anything to address the serious issues regarding the potential misuse of discovery.”“Even if he is no longer counsel of record, he would still have access to discovery materials, would retain the ability to direct the conduct of other lawyers at his firm, and would profit from any potential recovery in this lawsuit.”Greenfield added that the “removal would not prejudice Plaintiffs,” as they would continue to be represented by “two other large and experienced firms” including Selendy Gay Elsberg PLLC and Schneider Wallace Cottrell Konecky LLP.The class action lawsuit initiated in 2019 alleged that Tether and Bitfinex manipulated the crypto market by issuing unbacked Tether (USDT) “in an effort to signal to the market that there was enormous, organic demand for crypto commodities.” Over the last few days, Roche has also withdrawn from the Binance, Solana, Tron, BitMEX, Nexo, and Dfinity lawsuits.

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