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Through fake cryptocurrency pre-sale, hacker steals $150,000

The users were asked to send money to an Ethereum (a type of cryptocurrency) wallet if they wanted to buy "EXY" tokens and be part of the token sale

IANS  |  San Francisco 

Big banks, including JP Morgan and Goldman, have dabbled in the technology behind bitcoin, known as blockchain, and opined on its potential to reshape industries
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A hacker has stolen nearly $150,000 by tricking people to participate in a cryptocurrency (ICO) pre-sale and guiding their payments to a fraudulent wallet address, media reported.

The cyber attacker targeted ICO, also known as a token sale, designed to raise funds for a "Skype-like voice and video application" which could also take secure payments through the blockchain, reported on Tuesday.

Users who had signed up for information regarding the sale of started receiving emails with a pre-sale announcement of (EXY) tokens.

EXY is an upcoming blockchain-based application that encourages the adoption of cryptocurrency on a global scale.

The users were asked to send to an Ethereum (a type of cryptocurrency) wallet if they wanted to buy "EXY" tokens and be part of the

The email was fake because the actual was scheduled for January 31.

The report claimed that the email was sent by a hacker.

The phishing mails contained spelling and grammatical errors and contained an offer of extra tokens if buyers made their purchase within 12 hours.

The trick worked and users transferred 74 Ethereum funds (presently valued at over $150,000 in total) to the fraudulent wallet address mentioned in the mail.

Earlier this month, hackers broke into the digital wallet provider and stole its "Stellar" cryptocurrency worth $400,000.

In yet another hacking in December, Slovenian Cryptocurrency mining market NiceHash lost over $60 million in a Bitcoin hack.

First Published: Tue, January 30 2018. 19:25 IST
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