08 Aug '14, 10am

Massive Bitcoin heist sees hacker divert traffic from 19 ISPs (Wired UK)

The attacker specifically targeted a collection of bitcoin mining "pools" -- bitcoin-producing cooperatives in which users contribute their computers' processing power and are rewarded with a cut of the resulting cryptocurrency the pool produces. The redirection technique tricked the pools' participants into continuing to devote their processors to bitcoin mining while allowing the hacker to keep the proceeds. At its peak, according to the researchers' measurements, the hacker's scam was pocketing a flow of bitcoins and other digital currencies including dogecoin and worldcoin worth close to $9,000 a day. "With this kind of hijacking, you can quite easily grab a large collection of clients," says Pat Litke, one of the Dell researchers. "It takes less than a minute, and you end up with a lot of mining traffic under your control."

Full article: http://www.wired.co.uk/news/archive/2014-08/08/bitcoin-is...

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