Tag: cybercrime

Illiquid: Liberty Reserve Gone, Cybercrooks Look For Alternatives

Illiquid: Liberty Reserve Gone, Cybercrooks Look For Alternatives

Now that authorities in Spain, Costa Rica and the U.S. have taken down online money transfer service Liberty Reserve, the cyber underground is facing a serious liquidity crunch, as criminal gangs, botmasters, spammers and malicious hackers look for a safe platform on which to transact business. But finding a ready substitute may not be easy, with Liberty Reserve’s close competitors showing less tolerance of its “no questions asked” account creation policy, and less scrupulous outlets wary of the long arm of the U.S. Justice Department. Liberty Reserve (libertyreserve.com) went offline on Friday along with dozens of other domains operated by its founder, Arthur Budovsky – a.k.a. “Arthur Belanchuk” a.k.a “Eric Paltz.” Budovsky was arrested in Spain on May 24th. Spanish authorities acted at the request of authorities in Costa Rica, where Budovsky had set up shop, and the U.S. A three-count criminal complaint filed there by the U.S. Attorney for the […]

BadNews: Mobile Attackers Pivot To Malicious Ads

BadNews: Mobile Attackers Pivot To Malicious Ads

The identification over the weekend of a large-scale outbreak of mobile malware dubbed “BadNews” is bad news, indeed for millions of Android device users, who downloaded applications from the official Google Play application store that connected their devices to a malicious advertising network, dubbed “BadNews.” The discovery of the malware-infected apps, which were downloaded between two- and nine million times, suggests a new wrinkle in the mobile malware space, with attackers turning to honest-seeming mobile ad networks to push out malicious links and collect information on compromised devices. “This is one of the first times that we’ve seen a malicious distribution network clearly posing as an ad network,” wrote Lookout’s Marc Rogers on the company blog. He speculated that the new tactic may reflect improved security on the Google Play app store following the introduction of the Bouncer malware scanner. Lookout said that the company notified Google, which removed the […]