Mt.Gox Resigs...Bitcoins future doesn't look so bright.

The Bitcoin-trading website Mt.Gox was taken offline this past Monday. This puts millions of dollars at risk by investors who put invested in the digital currency.

The exchange deleted all of its tweets, and the CEO of Mt.Gox, Mark Karpeles resigned from the Bitcoin Foundation’s board of directors on Sunday.

Bitcoin investors are alarmed with the price down 3% to $490, its lowest level since November.
An unverified document called “Crisis Strategy Draft” is being circulated online states Mt.Gox has lost 744,408 of its users’ bitcoins, a net worth of $367 million.

There are rumors Mt.Gox has plans to re-brand itself as Gox.

Mt.Gox has been dealing with problems ever since the beginning of this year.  Feb. 7 Mt.Gox suspended withdrawals from its trading accounts.

The company found out there was a flaw with bitcoin transactions.

Bitcoin records transactions every 10 minutes, leaving a large window for malicious activity.  Attackers would make real transactions immediately posting fake ones, confusing the exchanges’ accounting programs.
This glitch was made public in 2011 but never addressed by the Bitcoin exchange.

Bitcoin dropped to $130 during this time, after it was trading for more than four times then that of other exchanges.

“The people running the systems right now are not necessarily business men,” Rose said. “For the most part, they’re people who came into this digital project without grasping the value or risk of it. The ecosystem is maturing, but it’s a little scary for everyone involved.”
– Charles Riley contributed reporting from Hong Kong.

What do you think their future of Bitcoin will turn out to be?  Please leave your comments below!

Don’t miss out on the latest tech news and computer security alerts! Follow us on Twitter at @hyphenet, “Like” us on Facebook or add us to your circle on Google+.


References:

Mt.Gox site disappears, Bitcoin future in doubt – CNN Money
http://money.cnn.com/2014/02/25/technology/security/mtgox-bitcoin/index.html

Bitcoin is under attack – CNN Money
http://money.cnn.com/2014/02/12/technology/security/bitcoin-attack/index.html?iid=EL

[Facebook Alert] Security Violations from Fake Facebook Messages

Facebook users need to be on ‘high alert’ because there are bogus Facebook messages from Facebook Security being displayed.

These messages are not coming from the real Facebook Security, they are phishing messages in the attempt to gain access to Facebook users accounts.

The Facebook messages look like this:

Another phishing message going around uses an authentic link to Facebook Security to make it appear more legit.

A red flag is the verification link to a third party Facebook application.

The scam sends users to an application similar to the one below:

The ploy is to direct users to an external website.  These sites are designed to look like Facebook, and most of the web addresses are easily recognized as not being Facebook.

Take a moment and verify that you are actually on Facebook.com before entering any login information or personal data.

Once a user enters in their Facebook information, the scammer has complete control over the account.

They can access personal information to steal their identity, send bogus messages to people in the friends list, send emails asking for money because they are in trouble, and send links to other scams to all the victim’s Friends.

If you feel like you have received a phishing message on your Facebook account, be sure to let your friends know this has happened.  They may be the next ones to become a victim.  Also, check your friends list and see if you have “Fącebooƙ Șeȼurity” listed as a friend.  If you do, you know you have been hacked!

Your Ultimate Guide to Facebook Scams and How to Deal with Them

How to spot a Facebook Survey Scam


References:

[Phishing Alert] Fake Message from Facebook Security Stating You Violated a Policy – Facebook Crooks
http://facecrooks.com/Scam-Watch/phishing-alert-fake-message-from-facebook…

PayPal Transaction Declined Phishing Scam

Another phishing scam is out, an email claiming to come from PayPal stating that a transaction was declined because of recent activity on the recipient’s account seems to be unusual.
The email guides users to reprocess their payment with an attached file form to confirm account information.
The email looks like this:

Subject: Your transaction was declined
Recently, there’s been activity in your account that seems unusual compared to your normal activities. We’re concerned that someone is using your PayPal account without your knowledge.
Recent activity on your account seems to have occurred from a suspicious location or under circumstances that may be different to usual.
What to do ? The best way to resolve this and avoid it happening again is to confirm information you provided when you created your account to make sure that you’re the account holder . You can do that now.
The secure way to confirm your account information:
1. Download the attached Document.
2. Open the document in a browser window secure.
3. Follow the instructions to Confirm that you are the account holder.
Yours sincerely, PayPal

The email has PayPal’s logo and is professionally formatted so it gives the illusion of being genuine.
The email explains that, in order to fix this issue, the recipient must open an attached file and fill in a form the confirms the information provided to the account.
This phishing scam, steals PayPal login information with personal and financial details.
For those who do open the attached file, the login page closely mimics the real PayPal website.
After the user enters their login information, they are taken to a second page that asks for their personal contact information.

The fake forms even run a php error check to ensure the victims have input the correct types of data.
If you receive a PayPal phishing scam, please submit it to the company for analysis.  Go directly to the PayPal website and submit a claim.
It’s good to keep in mind, PayPal emails ALWAYS address you by your first and last name or business name.  They will never send you an email with a generic greeting such as ‘Dear Customer’.

References:
PayPal ‘Your Transaction was Declined’ Phishing Scam – Hoax-Slayer
http://www.hoax-slayer.com/paypal-your-transaction-declined-phishing-scam.shtml

The Future of Bitcoin

Bitcoin became  very popular in 2013, when the value of a single unit of virtual currency rose from $13 to more than $1000 in a year.

Travelers began using Bitcoins while touring the world when a they noticed a Bitcoin ATM appeared in a Vancouver coffee shop.  The U.S. Senate committee held hearings at which regulators supported Bitcoin and other virtual currencies.

Bitcoin ATM’s are now among British Columbia, Canada, Hong Kong, Europe and Asia, with talk about one in the U.S..

Bitcoin is not issued or backed by a government or a business, it runs on computer code on a decentralized network.

Businesses like Overstock.com and some Subway shops have started to accept Bitcoin, although, it is still not a universal exchange.

 

Why worry?

Economists are skeptical of Bitcoin’s power because it lacks attributes of a useful currency.  Money serves three purposes: functions as a medium of exchange, a unit of account, and a store of value.

The digital crypto-currency has been in major headlines for a while now.  This week Bitcoin collapsed in the market.

Anonymous owners of black-market website Silk Road announced that hackers stole $2.7 million worth of Bitcoin.  Exchange was halted to ensure the safety of customer funds.  Also, Mt.Gox, one of the world’s largest bitcoin exchange, said it would temporarily prevent customers from removing their bitcoins from its online exchange.  Investors are speculating that Mt.Gox may be on the verge of bankruptcy.

Bitcoin prices have plunged dramatically on Gox, see that the price of bitcoin on Bitstamp was $640 and $250 on Gox.

Bitcoin currency has been linked with payments of underground websites that deal with drugs, weapons and other illegal merchandise.

Since Bitcoin doesn’t have a currency characteristic, it cannot be deposited in the bank.  It is held in ‘digital wallets’ that have proven to be vulnerable to thieves and hackers.

Lenders will not use bitcoins as a unit of account for consumer credit, auto loans, mortgages, or other credit.

Bitcoins future is wobbly, there are many reason why this new technology will disrupt our economy, good or bad:

• Bitcoin is evolutionary, the currency cannot exist without a computer
• Transactions are not overseen by the government, notary, or bank
• Bitcoin protocol flips automation upside down
• The Distributed Autonomous Corporation (DAC) may turn technological unemployment into structural unemployment

Bitcoin is in its infancy, the tranactions are untraceable and supposedly tamper-proof.  This could result in the government losing control in the economic marketplace.

“[Imagine] a group of generals of the Byzantine army camped with their troops around an enemy city. Communicating only by messenger, the generals must agree upon a common battle plan. However, one or more of them may be traitors who will try to confuse the others. The problem is to find an algorithm to ensure that the loyal generals will reach agreement.”

Bitcoin is pseudonymous, not anonymous, it isn’t visible, although, it is possible to copy, print, and share the codes.

Along with Bitcoin, Mastercoin and Ripple have arisen.  They are comparable crypto-currencies with an open source project that will add features to the Bitcoin block chain.

The Bitcoin block chain offers a platform that isn’t controlled by anyone.  All can participate and the system cannot be manipulated by governments, corporations, or bankers.

 

Bitcoin is capitalism 2.0!

The future will no longer be centralized!  Democratization is the transfer of power from the elite to the crowd.
Bitcoin is the third democratization.

1st the Internet, it enabled the democratization of information.

2nd democratization with 3D printing, manufacturing where factories become obsolete.

3rd is democratization of money and finance.  No more monopolies that control our money and business.
The currency application of Bitcoin was version 1.0.  The block chain of Bitcion is 2.0 = CAPITALISM

These companies will “try to preserve the problem to which they where once the solution”. But the dramatic changes in business will unearth a major gap between traditional approaches to strategy and the way the real world will work. It is “the end of competitive advantage” as we know it.

This continuing trend of Big Business may lead to more than 70% of the 1000 Fortune companies to be replaced.

Countries, nations, bankers, stock brokers, insurance companies, and notaries are all going to be heavily affected.

What do you think the future of Bitcoin will bring?  Please leave your comments below!

Don’t miss out on the latest tech news and computer security alerts! Follow us on Twitter at @hyphenet, “Like” us on Facebook or add us to your circle on Google+.



References:

Bitcoin: It’s the platform, not the currency, stupid! – The Next Web
http://thenextweb.com/insider/2014/02/15/bitcoin-platform-currency/

Bitcoin Lacks the Properties of a Real Currency – MIT Technology Review
http://www.technologyreview.com/view/524666/bitcoin-lacks-the-properties-of-a-real-currency/

Bitcoin Exchange Prices Plummet as Investors Brace for Bankruptcy – WIRED
http://www.wired.com/wiredenterprise/2014/02/mtgox-2/

Bitcoin Exchange Bitstamp Halts Withdrawals Citing Denial Of Service Attack – Tech Crunch
http://techcrunch.com/2014/02/11/bitcoin-exchange-bitstamp-halts-withdrawals-citing-denial-of-service-attack/

How to recognize and avoid spyware

The term “spyware” doesn’t mean an undercover operative is watching you.  Spyware also known as “adware” refers to a type of software that sends you pop-up ads when installed on your computer.

Some versions of spyware track your websites and tracks exactly what keys you type.  This is used for malicious purposes.

Spyware will cause your computer to run slow and sluggish.  There are also other privacy indications to be aware of.

Spyware monitors your websites visited, and redirects your browser to choice websites.


Here are some tips and warning signs to look out for on your computer:

• endless pop-up windows on your browsers
• you are being redirected to web sites other than the one you typed into your browser
• new, unexpected toolbars appear in your web browser that you can’t get rid of
• new, unexpected icons appear in the task tray at the bottom of your screen
• your browser’s home page has been respectively changed
• the search engine your browser opens when you click “search” has been changed
• certain keys fail to work in your browser (e.g., the tab key doesn’t work when you are moving to the next field within a form)
• random Windows error messages begin to appear
• your computer suddenly seems very slow when opening programs or processing tasks (saving files, etc.)

 

How can you prevent spyware from installing on your computer?

To avoid unintentionally installing it yourself, follow these good security practices:

• Don’t click on links in the pop-up windows – Pop-up windows are often spyware, clicking on the window may install spyware software on your computer. To close the pop-up window, click on the “X” icon in the titlebar instead of a “close” link within the window.
• Choose “no” when asked questions – Don’t trust unexpected dialog boxes asking whether you want to run a certain program or perform another type of task. Always select to close or “cancel,”  the dialog box by clicking the “X” icon in the titlebar.
• Free downloadable software is not free – Websites offer customized toolbars and other features that appeal to users. Don’t download programs from sites you don’t trust. You should realize that you may be exposing your computer to spyware by downloading these programs.
• Don’t follow email links claiming to offer anti-spyware software – Like email viruses, the links may serve the opposite purpose and actually install the spyware it claims to be eliminating.

 

Do you think you have spyware?  Here are steps to take to remove spyware from your computer.

• First run a anti-virus scan on your computer – Some anti-virus software will grab and remove spyware from your computer.  It is a good idea to set your anti-virus software to run scans periodically.
• Run a legitimate product specifically designed to remove spyware - Products will scan your computer for spyware and remove and destroy it.  Many popular products include Lavasoft’s Ad-Aware, Webroot’s SpySweeper, Microsoft’s Window Defender, and Spybot Search and Destroy.
• Be sure your anti-virus and anti-spyware software are compatible - An approach to installing the software is to ensure you don’t unintentionally introduce problems.

Don’t miss out on the latest tech news and computer security alerts! Follow us on Twitter at @hyphenet, “Like” us on Facebook or add us to your circle on Google+.

References:

Security Tip (ST04-016) Recognizing and Avoiding Spyware – US-CERT
https://www.us-cert.gov/ncas/tips/ST04-016

Happy Safer Internet Day 2014!

Safer Internet Day (SID) has been organized by Insafe each year to promote safer and more responsible use of online technology and mobile phones.

This day is particularly geared towards children and young adults to encourage awareness with Internet usage. Today, February 11,2014 is Safer Internet Day 2014. "Lets create a better Internet together".
Social cruelty is a growing problem both in schools and outside of schools online and off. In a presentation given at the International Bullying Prevention Association conference by Aidan McDaniel, a student activist said, "its everybody's problem" and the solution doesn't happen "without working with each other." Aidan spoke sparingly about how he and other students train peers to mentor younger students in bullying prevention.


 


The Professors Professors Sameer Hinduja and Justin Patchin, who run the Cyberbullying Research Center, say that "everyone is looking for an answer to the bullying and cyber-bullying problem." Safer Internet Day is now celebrated in more than 100 countries and with its theme for this year ("Let's create a safer Internet together") SID is modeling what both activists and researchers have long been saying: that safety and wellbeing on this planet's increasingly social, user-driven internet require - by definition - a social, collaborative solution.


 

You can go onto the SID website and learn how to get involved.

Be sure to follow us on Twitter at @hyphenet or “Like” us on Facebook to stay up-to-date on the latest computer security threats.

References:

Safer Internet Day Website
http://www.saferinternetday.org/web/guest;jsessionid=0FF6FEB3B80819353E75E1D68EB55FD9

The Industry’s Fastest Next-Generation Firewall

 

PA-7050 is the Fastest Next-Generation Firewall that Delivers Exceptional Performance

With the next-generation firewall, IPS, AV and WildFire active on all traffic, the PA-7050 brings performance at speeds with higher than alternative offerings.

This performance has superior consistency and gives organizations high network performance with next-generation firewall security.


 


Data traveling across enterprise networks are growing at a rapid rate, and enterprises need to ensure that data moves as fast as possible to maintain business productivity. The object is to apply security throughout the network to protect against sophisticated cyber attacks. The attacks hide in plain sight, while using routine applications to penetrate exterior defenses.

 

When inside the network, the attack acts like regular traffic while stealing targeted data via applications like FTP, webmail or cloaked within SSL. Most firewalls use a simple signature-based protection mechanisms masked as next-generation firewalls.

Signature-based protection mechanisms masked as next-generation firewalls cannot safely enable applications. They will block them, but cannot deliver sufficient performance with the security threats enabled. Palo Alto Networks addresses the challenge head-on with the PA-7050, a dynamic, easy-to-extend and manage next-generation firewall that is designed from the ground up to deliver performance consistency with next-generation security controls enabled.

This inception, set gold standards for high performance next-generation firewall that is structured from the ground up. This protects digital assets by identifying and enabling all applications, including those encrypted with SSL while blocking unknown threats. The PA-7050 is suited for:

• Data centers with threat prevention at 100Gbps or more
• Internet gateway where visibility and control over all application and protection from all critical threats
• Internal network segments, where isolation of critical data and business functions are required

Palo Alto Networks is leading a new era of cybersecurity by protecting thousands of enterprise, government, and service provider networks from cyber threats.

The security platform enables business operations and delivers protection based on what matters most in today's computing environments of applications, users and content.

 Don’t miss out on the latest tech news and computer security alerts! Follow us on Twitter at @hyphenet, “Like” us on Facebook or add us to your circle on Google+.  

 References:

 Palo Alto Networks Launches the Industry’s Fastest Next-Generation Firewall http://www.redorbit.com/news/technology/1113067382/palo-alto-networks-launches-the-industrys-fastest.../

PA-7050: The Industry’s Fastest Next-Generation Firewall - Palo Alto Research Center Blog http://researchcenter.paloaltonetworks.com/2014/02/introducing-pa-7050-industrys-fastest-next-generation-firewall/