Čvn 14

One Bitcoin is Worth 51 Million Hacked iMesh Accounts

Source: bitcoin

Bitcoinist_Data Breach Deep Web Bitcoin

People who have been using the Internet for quite some time now will recall the name iMesh, a once popular peer-to-peer file sharing platform. Although this platform has been defunct for some time, a hacker managed to obtain a database containing 51 million accounts. Obtaining this information can be done through The Real Deal deep web marketplace, for the price of one Bitcoin.

Also read: Cerber Bitcoin Ransomware Now Includes Malware Factory Automation

Data breaches are becoming a norm rather than the exception these days, and it appears as if the same hackers are responsible for most incidents. Peace, the alleged hacker of LinkedIn, is the person behind this iMesh account breach as well. In total, he managed to obtain 51 million accounts and a lot of sensitive information as well.

iMesh Database For One Bitcoin

Very few iMesh users were aware of how the platform logged their IP addresses and country location every time they connected to the service. Other stolen data includes email addresses, usernames, and passwords. At the time of writing, the company declined to confirm or deny these data breach allegations.

It is rather strange to see this event transpire right now, so close after other significant data breaches. That being said, the platform was losing a lot of popularity ever since it went into the legal side of the spectrum. A lot of people used this tool in the early days of the Internet for piracy purposes, including the distribution of adult material and cracked PC games.

Although iMesh tried to protect its users’ data by applying the MD5 hash function, the salted passwords were rather easy to break. It is not clear whether Peace cracked the passwords himself, or if a third party was involved in this process. We do know the database is up for sale on the deep web, though.

As one would come to expect from illegal goods and services being sold on the deep web, Bitcoin is the preferred method of payment. Interested parties can obtain the iMesh database for the price of one Bitcoin. It is expected there will be many interested parties as the combination of email address, passwords, and geolocation can be used for geo-targeted spam emails.

Do you remember the iMesh platform, and if so, were you a paying member? Let us know in the comments below!

Source: Threatpost

Images courtesy of Imesh, Shutterstock

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One Bitcoin is Worth 51 Million Hacked iMesh Accounts

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Bře 18

Amex Third-Party Data Breach is A Lesson For Bitcoin Users

Source: bitcoin

Bitcoinist_Amex

Making payments with a credit card is very convenient, as this method of value transfer is accepted both online and in-store all over the world. But at the same time,  so many different third party players are involved in the processing of credit cards, leaving customers exposed to financial information being stolen. Amex users have received a letter from the card issuer informing them about a potential hack recently. Bitcoin users could take note from this lesson, though, as there is no need to trust third parties with digital currency either.

Also read: Lisk Partners With Microsoft Azure, Chain of Things

Amex Data Breach Puts Cards At Risk

It is not the first – nor the last – time credit card users are faced with a third party data breach, as there are many hands through which this payment information passes along the way.  The letter sent out to Amex card holders informs them regarding a data security incident at a merchant where a set of Amex cards has been used in the past for legitimate transactions.

Apparently, that dealer did not take the necessary security precautions, as account information has been leaked due to this security incident. No systems owned or controlled by American Express were breached during this attack, though, keeping the number of affected users rather on the low.

The Amex Letter states the following:

“At this time, we have been informed that your current or previously issued American Express Card account number, your name and other Card information such as the expiration date, may have been compromised. Please be aware that you may receive additional letters from us if more than one of your American Express Card accounts were involved.”

A combination of the above credit card information is enough for internet criminals to purchase goods with stolen details, as most websites do not require more details than the basic information. Granted, most modern platforms will require users to send a copy of their identity card and a utility bill to process the order, but that is not always the case. Amex users will need to keep a close eye on their credit card statements over the next few months, and dispute fraudulent charges as soon as possible.

Bitcoin Users Need To Stop Trusting Third Parties

Although there are many benefits to Bitcoin over more traditional payment methods – such as credit cards – there is a valuable lesson to be learned from this debacle as well. Trusting third party services which control user funds at any given stage is never a good idea, as bitcoin transactions were designed to occur between parties instantly and remove the middlemen from the equation.

Far too many Bitcoin users are keeping their funds in online wallets or stored at exchanges, which put their money at risk as well. If these platforms were to be breached, or face an outage for whatever reason, there is no way to access funds. Third parties have no place in the Bitcoin world, and stories like the Amex breach show why Bitcoin users need to be more careful about where to store their funds.

What are your thought’s on this umpteenth credit card data breach? Should we push for less third party usage in the Bitcoin world? Let us know in the comments below!

Source: OAG

Images courtesy of Amex, Shutterstock

The post Amex Third-Party Data Breach is A Lesson For Bitcoin Users appeared first on Bitcoinist.net.

Amex Third-Party Data Breach is A Lesson For Bitcoin Users

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