Cryptocurrency has become one of the major concerns for the financial investors. Not only the thought of cryptocurrency as a financial bubble is bothering them but the hacking that has been taking place over the years is what concerns them. Hackers nearly empty bitcoin wallets of the users without the slightest fear of being caught due to the secrecy of users using blockchain technology.
Studies show that these hackers have used the simple yet deceitful technique to obtain bitcoin. They purchased Google ads that showed keywords relating to cryptocurrency to obtain the list of user search list and then extracted all the coins from the wallet. This means that by googling words like bitcoin wallet or blockchain, these hackers could see the suspicious websites links that provided them the information about blockchain users.
Cisco reports states that these malicious links opened pages that seemed to look like the actual blockchain page. And on the google search list, such links appear above the original sites. People were fooled into believing that has reached the original blockchain site and as a result, they entered all their information including the private key number which secures the wallet. The hackers gained access to the wallet and stole all the bitcoin.
Cisco has been leading in exposing all such scams with Ukraine Cyber System, and after the exposure of Coin Hoarder group, all cryptocurrency advertisements from Facebook were ban, and Google is even working on putting a ban.
Over the last 3 years, Coin Hoarder has wreaked havoc in the digital currency market. But it was during 2017, that their theft was exposed. It was during September to December when bitcoin was soaring to $20,000; the Coin Hoarder group stole nearly $10 million coins. In less than a month, the hackers made around $2 million.
Cisco reports further claim that some thieves even have their bitcoin wallet. This was traced with the aid of Ukraine law Enforcement. Exposing them is a tedious task as the address used as fake and doesn’t contain the identity of the owner.