Report Says Hackers Have Stolen $50 million in cryptocurrencies from Blockchain.info users

Cryptocurrencies in general have become more and more exposed to hacks and attacks by cybercriminals. Digital currencies are now becoming more popular, as well, and more investors and people are using them. Of course, this means that the interest of cybercriminals has also grown.

Ukrainian hacker group steals from Blockchain.info users

Now, a Ukrainian hacker group, also known as Coinhoarder, has managed to steal over $50 million in cryptocurrencies from the users of Blockchain.info. Blockchain.info is a very popular provider of digital currency wallets.

The news that the hack occurred was first revealed in a report from the Talos cybersecurity team of Cisco. According to this report, the hackers managed to get access to people's cryptocurrencies by using Goggle ads. The cybercriminals allegedly bought Google ads on popular search keywords related to cryptocurrencies with the main purpose to infect users and gain access to their crypto wallets.

When people searched for words such as "blockchain" or "bitcoin wallet" on the search engine, they ended up finding malicious websites that seemed legitimate Blockchain.info domains that infected their devices and gained access to their digital currencies. Of course, the malicious websites mirrored actual websites of Blockchain.

When accessing the malicious websites, which looked like Blockchain, people started adding their wallet and personal information without suspecting anything, and thus, the hackers were able to steal from users.

Cisco investigated the whole scam for a period of more than six months. The Ukraine Cyberpolice was reportedly also involved in the investigation. According to Cisco, the method used by the attackers has become quite common, meaning that similar attacks might be reported in the future. Of course, the number of attacks increased along with the increase in the price of cryptocurrencies, which made them more attractive to attackers.