Latest News
Crypto sleuths join hunt for $1.5bn stolen in biggest ever heist
A company which fell victim to what’s thought to be the world’s biggest ever theft is seeking to recover some of its losses by crowdsourcing online bounty hunters.
Last week, hackers believed to be from North Korea’s notorious Lazarus Group stole $1.46 billion of cryptocurrency from ByBit, a crypto trading platform.
The criminals are trying to rapidly cash out the hoard through a complex online money laundering process.
ByBit is now offering cash rewards to anyone who spots and prevents them from cashing out.
“Join us on war against Lazarus” the company’s CEO Ben Zhou posted online with a link to a new website offering a bounty to anyone who can help.
Cryptocurrencies are stored in public wallets anyone can look up so it’s possible to follow the money as the criminals split it into smaller chunks and send it through various channels to obscure its origins.
The new website has a live leader board showing companies and individuals who have successfully located some of the coins.
The bounty scheme gives 5% of the sum identified to individuals who successfully persuade a company that has control of the funds to freeze the money.
It’s also awarding 5% to the companies that take action.
The website is already displaying millions of dollars in payments to successful crypto sleuths.
“We have assigned a team to dedicate to maintain and update this website, we will not stop until Lazarus or bad actors in the industry is eliminated,” Mr Zhou said.
Crypto investigation firm Elliptic described it as a “really positive innovation.”
“There are a lot of very talented blockchain investigators out there who will now be motivated to track down these stolen funds, and to help to seize them,” said Tom Robinson, from Elliptic.
However Louise Abbott, crypto fraud partner at Keystone Law, suggested the heist would still “negatively impact the perception of trust” in what she said was already a “volatile” industry.
“If such a hack can occur on this scale in the world’s second largest exchange, it can certainly happen again,” she said.
There are no authorities such as central banks or regulators involved in crypto transactions which means anyone who falls victim to criminal behaviour does not have an obvious body to turn to for help.
That’s left ByBit reliant on the goodwill of other crypto companies to act on their behalf. Not all have.
ByBit’s website is keeping track of crypto firms that don’t respond to requests for help.
One exchange called eXch is apparently refusing to cooperate.
According to researchers at crypto investigators Elliptic, eXch is a platform notable for allowing its users to swap crypto-assets anonymously.
In a blog post Elliptic alleges that “hundreds of millions of dollars in crypto-assets derived from criminal activity, including multiple thefts perpetrated by North Korea” have been successfully laundered through the service.
So far $75m from the ByBit hack has been tracked flowing through the website, according to analysis.
EXch has not responded to BBC requests for comment.
ByBit is promising to open up it’s new bounty website to other victims of the prolific North Korean hacking group.
The site has a logo of North Korean leader Kim Jong Un’s hair with a knife through it.
Crypto investigators around the world have attributed the hack to the group which has been blamed for around $6bn of crypto thefts in recent years.
Researchers say the stolen funds are used by the hermit state to skirt international sanctions and develop its military powers.
North Korea has never admitted to being responsible for the Lazarus Group.
[BBC]
Latest News
Sri Lanka, Zimbabwe seek momentum sustenance ahead of stiffer challenges
From their last completed game against Australia, Zimbabwe ought to bring Richard Ngarava back into the XI, with the left-arm seamer rested for that outing as a precautionary measure. Leggie Graeme Cremer could miss out, although the possibility of resting Blessing Muzarabani cannot be ruled out either, should Zimbabwe want an additional spinner.
[Cricbuzz]
Latest News
West Indies aim to keep up rhythm as Italy look to end on a high
Regular skipper Wayne Madsen has missed the last two games due to an injury in the opening fixture and remains a doubtful starter for their last group game as well.
[Cricbuzz]
Latest News
Pakistan into Super Eight after Farhan ton sinks Namibia
Sahibzada Farhan settled his side’s nerves with a blazing unbeaten hundred, as Namibia were outgunned by 102 runs in Colombo to end any doubts about Pakistan’s progression to the T20 World Cup Super Eight. With 11 fours and four sixes, Farhan produced a perfect burst of acceleration against a toiling attack. His second fifty of his 57-ball century came from just 20 balls. And his eventual 100 not out from 58 balls would be more runs than Namibia managed (97) before being bowled out.
Needing a victory (or, at the very least, a washout) to keep the hopefuls of USA at bay, Pakistan produced the most comprehensive win of their campaign. It was sealed by their four-man spin cohort. Mohammad Nawaz led a mid-innings squeeze with 1 for 22 in his four overs, before Shadab Khan and Usman Tariq dovetailed for each of Namibia’s last seven wickets.
Shadab was the main character of their victory surge. He had earlier been pushed up to No. 5, ahead of Babar Azam, to help Farhan thrash 78 runs from the final six overs of their innings. He then followed up with 3 for 19, the last of them coming via a superb diving catch at square leg from Saim Ayub, off Zane Green, which spoke of Pakistan’s mounting confidence.
Shadab himself was also in the act with a smart catch at midwicket, to claim the first breakthrough of Tariq’s late entrance. Though he didn’t bowl until the 12th over, Tariq’s extraordinary repertoire of carrom balls and delayed-release leggies proved unfathomable to Namibia’s lower-order. Ruben Trumpelmann and Bernard Scholtz were both bowled through the gate by perfect googlies, before Willem Myburgh snicked off to a legbreak, to cap Tariq’s career-best figures of 4 for 16.
It wasn’t the perfect performance from Pakistan. In particular, their batting powerplay was a microcosm of their campaign: rarely convincing, yet still doing the needful in spite of some ugly moments. Ayub’s 14 from 12 balls comprised two leading edges and a flying nick for four past the keeper; Farhan’s first boundary came via a misfield in the covers, and his second to a similarly wild hack through deep third off Jack Brassell, moments after he had flung his bat through square leg while mistiming a cut through point.
But, by degrees, Pakistan settled into their work, emboldened by every over in which their under-performing middle-order was spared early exposure. Namibia rang in the changes, rotating through six options in their first eight overs. But it was their two bowlers serving up back-to-back overs who inadvertently released the mounting pressure.
Farhan found his range with back-to-back fours off Ruben Trumpelmann, including an unrepentant slog through midwicket, then took his new-found poise out on Willem Myburgh. The legspinner’s first over had gone for just five; his second realized three vast sixes, with Farhan contributing back-to-back slog-sweeps. Though he ended the same over in a heap, after jarring his knee during a drive, the shackles were officially off.
Farhan nudged the first ball of the 12th over through midwicket to bring up a 37-ball half-century. Twenty balls later, he did likewise to Gerhard Erasmus, to cavort through to his maiden T20I hundred. His was also the third of this year’s tournament, a new record.
In between whiles, his acceleration was violent and unrelenting, though it did not begin in earnest until the 15th over, when Trumpelmann’s slower balls were collared for back-to-back fours down the ground. That sounded the bugle charge. JJ Smit’s left-arm spin was then smoked for 17 runs, including two more fours and a baseball slug for six; and Brassell’s last was sent for 20, with Farhan marching into the 90s as he hoisted a slower ball over fine leg for his fourth six.
Salman Agha played a vital part in Pakistan’s uptick. His 38 from 23 balls included three fours and two sixes, as he helped propel his team to 107 for 1 after 12. He was livid with himself when he holed out to mid-off with his job far from done, and Khawaja Nafay’s five-ball stay meant Pakistan were soon in familiar danger at 118 for 3 in the 14th. But in came Shadab, with licence to swing his bat. He was only too eager to deliver.
Namibia needed ten an over from the outset, and they did give it a go in the powerplay. Faheem Ashraf was an unlikely candidate bowling the first over, with Shaheen Afridi paying the price for some leaky displays so far in the tournament – and consequently dropped. Ashraf’s introduction looked doubly sketchy when Louren Steenkamp picked his third-ball slower ball to pump him over the sightscreen.
Pakistan’s frailties were all too apparent in the same over. Nawaz dropped a sitter at deep midwicket off Jan Frylinck. Soon, at 32 for 0 after four, Namibia were putting up a decent challenge.Salman Mirza, however, switched ends to bowl Frylinck through the gate for 9, and when Jan Loftie-Eaton ruined his strong start by attempting a non-existent run to Agha at mid-off, the downturn was swift and decisive. Nawaz made amends for his catching by luring Steenkamp into a top-edged swipe for 23, and four balls later, Shadab snicked off the captain, Erasmus, with a big legbreak in his first over. The end would follow swiftly.
Brief scores:
Pakistan 199 for 3 in 20 overs (Sahibzadz Farhan 100*, Saim Ayub 14, Salman Agha 38, Shadab Khan 36*; Gerhard Erasmus 1-25, Jack Brassell 2-38) beat Namibia 97 in 17.3 overs (Louren Steenkamp 23, Alexander Busing Volschenk 20; Salman Mirza 1-11,Mohammad Nawaz 1-22, Usman Tariq 4-16, Shadab Khan 3-19) by 102 runs
[Cricinfo]
-
Life style4 days agoMarriot new GM Suranga
-
Business3 days agoMinistry of Brands to launch Sri Lanka’s first off-price retail destination
-
Features4 days agoMonks’ march, in America and Sri Lanka
-
Opinion7 days agoWill computers ever be intelligent?
-
Features4 days agoThe Rise of Takaichi
-
Features4 days agoWetlands of Sri Lanka:
-
News4 days agoThailand to recruit 10,000 Lankans under new labour pact
-
News4 days agoMassive Sangha confab to address alleged injustices against monks
