Black Hat USA 2018 Attracts 17,000 Attendees, Cisco Talks Cryptocurrency Thefts

Las Vegas was recently abuzz during the Black Hat USA 2018 Conference, which was held for six days during this last week. With 17,000 people in attendance, there were research scientists and cybersecurity expert from around the world, and Cisco Systems was one of them.

At the conference, Cisco Systems was in the company of 299 other cyber-security companies, and they had the chance to speed to the attendees about hacking and cybercrime at the symposium. In their discussion, they specifically noted that the risk of being hacked is rising, since there are so many new cryptocurrencies popping up this year. According to their research, there are a few main ways that hackers prefer to perform their theft:

  • Crypto Phishing, which involves the hacker sending an email or creating a website that looks like an official company, but it is actually just a way to gain personal information voluntarily.
  • Crypto Jacking, which allows the hacker to mine crypto tokens with someone else’s computer and power supply, but without the computer owner’s awareness.
  • Ransomware, which is a malware program that stops the victim from using their computer’s basic functions and requires them to pay a ransom.

Based on the information that the analysts have collected so far, they have been able to increase the protection on their own network to prevent hackers from infiltrating it. This upgrade could easily become null and void, as crypto hackers are constantly adjusting their approach to further attack owners with big investments in the industry.

One of the other devious ways that hackers have managed to trick individuals is with the use of Google Ads, which attracts visitors to websites that will phish their information. The look of these advertisements is often professional looking, which causes the user to trust the website and give up their personal information.

Hackers are not solely interesting in permeating the accounts of individuals; they also lay out attacks on companies as well. Startups and other growing platforms are the most susceptible, because their defense technology is still in its infancy. As they become more profitable, they have the capability to strengthen their network against these attacks, but they have to survive to get there first.

Even though hackers are working to gain profit for themselves, they actually end up swaying the market as they do, which is intentional and to their benefit. They have a “pump and dump” plan, which increases the industry temporarily, giving them the opportunity to sell when the price is high. However, as they sell, they get out right before the market collapses to new depths.

The Black Hat USA 2018 conference will end today, August 9th. It was divided between four days of “technical trainings” (August 4th to 7th), and then a two-day conference (August 8th and 9th). The last group of sessions will start at 3:40pm, though Cisco is holding their last presentation at 11:00am in Ballroom B at Mandalay Bay.

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