Israeli hacker stole $1.7M in Crypto from Europeans

[darylalban]

We have yet again another crypto theft of BTC, ETH and Dash. https://thenextweb.com/hardfork/2019/07/18/israeli-charged-theft-1-7m-cryptocurrency-europeans/

When I first saw Ciphertrace's reported $350 million worth of stolen cryptocurrency last quarter I thought that number was insane but after seeing these stories of hackers/scams come to the surface it makes so much more sense

[TheRealAwesome31312]

Wow. He'll probably use it to flatten Palestinian homes and build Starbucks on them.

[dothebeats]

I'm not surprised that hacks like this is still happening as long as there are platforms that are still vulnerable to such attacks and whatnot. The title though is somewhat instigating that the Israelis are all but causing trouble to the Westerners, or maybe it was just me thinking like this considering that Israel and the USA had this not-so-friendly (hostile, lol) relationship towards each other and the EU is also chiming in on the said differences of the two nations. Anyhow, a hack is a hack, and it's illegal by nature, and it's a good thing that the dude is nabbed, if he is really guilty for these crimes that is.

[TheRealAwesome31312]

I'm not surprised that hacks like this is still happening as long as there are platforms that are still vulnerable to such attacks and whatnot. The title though is somewhat instigating that the Israelis are all but causing trouble to the Westerners, or maybe it was just me thinking like this considering that Israel and the USA had this not-so-friendly (hostile, lol) relationship towards each other and the EU is also chiming in on the said differences of the two nations. Anyhow, a hack is a hack, and it's illegal by nature, and it's a good thing that the dude is nabbed, if he is really guilty for these crimes that is.

The American government literally puts Israelis before their own. Detroit crumbles while Israelis build skyscrapers over Palestinian homes every day.

[hugeblack]

These kinds of hacks make us repeat again -----> Not your Code, Not your  Coins.

The perp used these websites to distribute software that infected his victim’s computers and stole cryptocurrencies. The report hasn’t stated how software managed to do this, though.

You should protect yourself and do not trust any program on your computer. It is best to be hodl your private key/seed using offline computers.
+ it is wrong to display the stolen values using US dollars ($350 million worth of stolen cryptocurrency,) we must use it’s Bitcoin/ether/LTC value. (Actual value at hack time and current value.)

[milewilda]

These kinds of hacks make us repeat again -----> Not your Code, Not your  Coins.

The perp used these websites to distribute software that infected his victim’s computers and stole cryptocurrencies. The report hasn’t stated how software managed to do this, though.

You should protect yourself and do not trust any program on your computer. It is best to be hodl your private key/seed using offline computers.
+ it is wrong to display the stolen values using US dollars ($350 million worth of stolen cryptocurrency,) we must use it’s Bitcoin/ether/LTC value. (Actual value at hack time and current value.)

Most of the time if there were hacks popped out they do make use of fiat terms,maybe on publishing news it do give out much more impact to readers or on crypto community if they do see huge numbers converted than seeing Crypto amount instead.In result they would be curious or interested to read up such news due to those no. (This is my own view and opinion).
We cant really get rid of hacks as long theres money circulating on this market those people are just waiting for perfect opportunity to attack.
Targeting weak security websites will be prioritize.

[Kemarit]

This is not just a ordinary hackers, but a cyber criminals who take advantage of people who are not really educated on how to protect their assets. These just uses sophisticated techniques, lots of phishing attacks and its variants to lure potential victims.

Again, we are in the world of crypto so everyone here should learn and educated themselves. The good thing is that the brothers has been caught and should be put to justice. But the money is gone and can't be refunded, that's for sure. I hope Israeli government will give them jail time because this is not just a petty crime, it involves huge amount of money and many people have suffered as a result of their criminal activity.

[Harlot]

Funny thing how the majority of the public thinks Bitcoin is an untraceable asset yet dozens of criminals have been tracked down from various methods not only in BTC's blockchain. This should serve as a wake up call for criminals who potentially attempt to steal cruptocurrencies because the authorities are catching up and the international government is getting involve. Which is really a good thing for us in the industry.

[Kemarit]

Funny thing how the majority of the public thinks Bitcoin is an untraceable asset yet dozens of criminals have been tracked down from various methods not only in BTC's blockchain. This should serve as a wake up call for criminals who potentially attempt to steal cruptocurrencies because the authorities are catching up and the international government is getting involve. Which is really a good thing for us in the industry.

Right, we all know that Bitcoin is (pseudo) anonymous so I don't understand what's the love relationship of criminals do it. The only logical explanation I can see is that it might be too easily for top cyber criminals to focus on Bitcoin because of the price.

So there will be lots of cyber criminal activities, so it will be a constant pursuit, captures, and then the cycle continues. Good thing though is that the government is really getting involved and yes, this could be good in the long run for us.

[buwaytress]

The majority of the public doesn't even really want to understand Bitcoin properly. I don't think there's a case of criminals loving Bitcoin at all, I think people just think, wrongly, that the extra few steps necessary for enforcement to track them down, is enough of a deterrent to keep them safe. That, or just plain ignorance and carelessness you would expect from kiddy hackerbois.

[CryptoBry]

In the past many months, hackers coming from North Korea, Russia and sometimes Iran were making good headlines. And recently, hackers from Israel are making a name in this seemingly very lucrative industry. I am not wondering why we have good hackers from Israel as the country is well-known for the inclination to develop high-technology products and services. Israel is one of the few leading bastions of real innovations in our modern interconnected world.

This is serving as a big warning to all online platforms and infrastructures especially cryptocurrency exchanges to always be on their feet and to make sure they are 10 steps ahead of these talented and resource-rich hackers just waiting to punch when they see some weakness they can exploit. Right now, from time to time, we are seeing enormous value of successful hacking and this will never stop because the prize is really very attractive.

[JuraHyts1992]

It is bad, because people lose faith, but this hackers must be punished!

[ccryptopark]

We really need the proper education for people to know how to properly store their cryptocurrency. It's unfortunate that this happens but I think they're wake up calls to get compliance sorted out and in place more often.

[eaLiTy]

Funny thing how the majority of the public thinks Bitcoin is an untraceable asset yet dozens of criminals have been tracked down from various methods not only in BTC's blockchain. This should serve as a wake up call for criminals who potentially attempt to steal cruptocurrencies because the authorities are catching up and the international government is getting involve. Which is really a good thing for us in the industry.

If people thought that bitcoin was an untraceable asset where you can do anything illegal then they are in for the hard awakening as authorities will track down and punish every illegal activities being conducted using bitcoin, you cannot find a more transparent system to conduct your crimes and every transactions you make will have a trail and in the future and i expect all the transaction even if they are hidden using mixers, there will be a possibility to uncover those tracks and bring the criminals to justice.

[BitHodler]

The majority of the public doesn't even really want to understand Bitcoin properly.

I don't think it's a matter of them not wanting to understand Bitcoin, but more so that the way they use Bitcoin comes down to leaving it on exchanges and from there send out and receive Bitcoin.

Based on that basic form of (stupid) use, they don't need to dig further. If their needs are met, which seems to be the case, they know everything they need to know. Using an exchange is the simplest thing there is.

I don't think there's a case of criminals loving Bitcoin at all, I think people just think, wrongly, that the extra few steps necessary for enforcement to track them down, is enough of a deterrent to keep them safe. That, or just plain ignorance and carelessness you would expect from kiddy hackerbois.

I think people are waking up slowly but surely-- I have seen enough to know that the criminal use narrative is shifting from Bitcoin to XMR and other privacy coins. People even ridicule Bitcoin for not being private.

[goaldigger]

As far as I know, Israel is still not categorizing bitcoin as a legal commodity since 2017 and any forms regarding it would be illegal. What more if an Israel hacker stole it from Europeans. How do they store , use , or cash out it by the way?

[putukin]

Hackers cause too many problems. Some platforms and exchanges are to blame for being hacked. They spend not enough money on privacy and security. This is the reason for the success of hackers.
I'm glad this hacker was caught!

[Theb]

As far as I know, Israel is still not categorizing bitcoin as a legal commodity since 2017 and any forms regarding it would be illegal. What more if an Israel hacker stole it from Europeans. How do they store , use , or cash out it by the way?

No they aren't, the Israeli government only didn't categorized Bitcoin and cryptocurrencies as a normal currency but revognized it as an asset therefore is subject to their 25% capital gains tax. So the Israeli hacker can move freely with the stolen cryptos within their country. Most likely him being an international criminal for stealing money from foreign soil (even digitally speaking) he would most likely be extradited to face his criminal charges in a foreign court.