Weekly Crypto Round Up: Latest News on Cryptocurrencies & the Dark Web | Week 14 – 2019

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Weekly Crypto Round Up Week 14-2019
The latest news on the intersection of the dark web and the world of cryptocurrencies

In a surprising turn of events this week, the largest coin according to market cap, Bitcoin (BTC), not only managed to keep above the $4,000 resistance but also exceeded the $5,000 mark in a matter of days.

The significant price surge moved the total market cap to $174 billion, which is more than $30 billion since last week.

Bitcoin’s price explosion not only influenced the coin’s trading but also resulted in a major increase in transaction fees.

At the beginning of 2019, BTC transaction fees hovered around $0.18; now the price has gone up to around $1.3.

Nevertheless, Bitcoin wasn’t the only cryptocurrency that marked the week with gains, as other top market contenders also grew in price over the last seven-day cycle.

Ethereum, the second largest cryptocurrency on the market, climbed the price ladder and is now standing at $158.

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Overall, it was a bearish week for the cryptocurrency market, and for now, things are looking promising for crypto enthusiasts and investors.

Healthcare Industry Is Cybercriminals’ Most Desired Target

A recently published briefing by Beazley reveals that the healthcare industry is the most attractive sector to cybercriminals.

According to the release, 40 percent of the total cyberattacks reported to Beazley in 2018 were related to healthcare organizations. Medical data typically sells at a high price on darknet markets.

According to Lauren Winchester, a privacy breach response services manager with Beazley, stolen healthcare data is valuable because it can be used in several ways, such as creating false IDs to obtain drugs or filing false insurance claims.

Cybercriminlas targeting health industry.
A recently published briefing by Beazley reveals that the healthcare industry is the most attractive sector to cybercriminals.

Apart from the healthcare industry, results show that the financial sector was also frequently targeted by attackers, with hacking or malware the leading causes of loss.

Among the key trends of 2018 were also banking Trojan viruses and ransomware attacks. According to the report, they continue to lead damage in 2019 as well.

Ransomware accounted for almost 10 percent of the attacks last year, and the ransomware demands were usually very high, going up to 3,000 Bitcoins or around $8.5 million.

Canada to Seize $1.9M in Bitcoin in Country’s First-Ever Crypto Forfeiture

Earlier this week, Toronto Superior Court Justice Jane Kelly gave an order for seizing approximately 280 Bitcoins, or roughly around $1.9 million, making this the country’s first and largest Bitcoin forfeiture.

The crypto funds were discovered by the Canadian authorities following the arrest of Matthew Phan, 30, who was arrested last year after being caught dealing drugs through the dark web. Soon after, Phan admitted to the charges levied against him.

Earlier this year, Phan asked the court to let him keep half of his Bitcoin funds, arguing that only half was used to execute drug transactions and illegally purchase firearms and a gun silencer.

Ultimately, Phan’s arguments were not accepted—earlier this week, Judge Kelly gave the order for forfeiting 281.41 Bitcoins, making this a unique case and Canada’s largest crypto forfeiture.

As Toronto Star reports, the judge backed up the verdict with the extensive evidence behind Phan’s crimes, which suggest that he used all of his digital resources as a means of payment for his illegal operation.

New Android Trojan Targets Fiat Money & Cryptocurrencies

Malware attacking Android systems.
The victims, whose information can easily be obtained through dark web listings, are targeted through text messages.

New malware targeting banking apps, cryptocurrency wallets, e-commerce websites and other online payment services was recently discovered by cybersecurity firm Group-IB.

The Android Trojan is targeting the victims through text messages and poses serious risks for users of more than 100 banks around the world, services such as PayPal and Western Union, as well as 32 digital currency applications.

The creator of the new threat is reportedly a Russian-speaking malware developer, and the Trojan goes by the name “Gustuff,” which is a new generation of malware capable of stealing fiat money and cryptocurrencies.

The victims, whose information can easily be obtained through dark web listings, are targeted through text messages.

They receive an SMS that differs in content but always contains a malicious link that infects the victim’s device when clicked.

From there, it then distributes and installs a mobile app on the victim’s Android device.

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