BlockThreat - Week 19, 2019

Binance | CORA | TRX | Confluence

This week’s news were dominated with the high profile Binance hack, the largest exchange in the continuing series of compromises. In this edition of the intelligence report I will discuss what went right and wrong with the way Binance handled the incident, an update on the Tron backdoor from last week, a couple of critical bugs, and the latest in the cryptominer malware trends.

News:

• Crypto Traders Ponder Blacklist to Keep Scammers, Thieves at Bay - a Bloomberg article on the recent CORA (Crypto OTC Roundtable Asia) meeting in Chicago on increasing trust in the crypto ecosystem. The attendees have discussed creating both a whitelist of good standing crypto businesses as well as a blacklist of known malicious parties to share among members.

Hacks:

• Binance Security Breach - On May 7, 2019 Binance has shared the news about a breach resulting in a loss of approximately 7000 BTC ($40 million). Based on the official report, the actors were using a variety of advanced techniques including phishi…