According to a report by tech magazine, ZDNet, there is a resurgence of hacks specifically targeting Ethereum holdings. The publication referenced research by cybercrime monitoring company Bad packets LLC that had pointed that despite Ethereum sinking to 18-month lows, the Crypto-currency was still being targeted by hacks.
Miners and investors now have to be careful of malicious hackers who are scanning the network, identifying mining rigs and wallets with an exposed port 854, which ultimately allows them to regain access and control while redirecting the ETH funds elsewhere.
Bad packets LLC co-founder and security researcher Troy Mursch, attempted to explain the reason behind the Ethereum targeted hacks despite the low price by saying; “Despite the price of crypto-currency crashing into the gutter, free money is still free, even if it’s pennies a day,”
Ether hacking came onto the spotlight after a successful ether hack back in June this year, netted a reported $20 million worth of ethereum. That grand hack had been in the making since it had been preceded by other separate hacks that had successfully reaped decent amounts from various ether accounts.
Hackers have not had a good 2018 as they did 2017 due to the plummeting value of cryptos as well as a 500% rise detection rate. They are however finding new ingenious ways to mask their activities in the hope that no one can catch them. Security companies, therefore, have a tough task ahead of them since the hacks, just like the technology, reinvent themselves often.
I am a crypto enthusiast based in Nairobi Kenya, who loves investing, research writing, reading, fitness, African food, and soccer.
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