Ethereum Attack – How Hackers Stole $31 Millions Of Ether?

What is the Ethereum Attack?

The most prominent example which has recently surfaced where an unknown hacker has just stolen nearly $32 million worth of Ethereum – one of the most popular and increasingly valuable cryptocurrencies – this happened when Ethereum wallet accounts got linked to at least three companies that seem to have been hacked.

This is the third Ethereum cryptocurrency theft that has come out two days after an alleged hacker stole $7.4 million worth of Ether from trading platform Coin Dash, and two weeks after an unknown attacker hacked into South Korean cryptocurrency exchange Bithumb and took more than $1 Million in Ether and Bitcoins from user accounts.

On Wednesday, Smart contract coding company Parity issued a security alert, warning of a critical vulnerability in Parity's Ethereum Wallet software, which is described as "the fastest and most secure way of interacting with the Ethereum network."

Exploiting the vulnerability allowed attackers to compromise at least three accounts and steal nearly 153,000 units of Ether worth almost US$32 million at the current price.

The Ethereum network is currently undergoing a DoS attack

Attention all miner: The Ethereum network is under attack. The offense is a computational DDoS, i.e., miners and nodes need to spend a very long time processing some blocks. The reason is due to the EXTCODESIZE opcode, which is mostly depended on low gas price but which requires nodes to read state information from disk; the attack transactions are calling this opcode roughly 50,000 times per block. The result of this is that the network is virtually slowing down, but technically there is NO consensus failure or memory overload. The analyst has identified several routes for a more sustainable medium-term fix and has developers working on implementation.

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How does this Ethereum Attack infect your system?

1. Bundling: Through third-party installers by concealing itself in freeware installation. It enters bundled with the free application hosted on an unreliable site. When the user installs those free application then this infection also gets installed automatically.  
2. It can also get attached to on your PC if you frequently visit the unsafe site like Porn sites or betting sites which contain illegal stuff. Besides, the user should also avoid clicking on misleading ads and random links which redirects the victim to the social media site.   
3. It enters in your system along with the installation of any new software applications which the user does without entirely going through the license agreements or reading without terms and condition. Most of these cases are sharing files like music, photos and many more in the networking environment, visiting various adult websites are also liable for the insertion of this threat inside your system.
4. Malicious attachments send through emails or social media like facebook, Skype messages. This trap is genuinely old but it still works perfectly. The most recent hit by this attack looks like an associate sent you that email, and it will also incorporate what seems to be business related documents inside. Make sure to search for the file attachment before you take a gander at the document name. If it closes with .exe or it is the .exe file, then it’s most likely an infection!
5. Spam emails: This browser hijacker gets into your computer through malicious email attachments in the spam emails tab. Malicious infected attachments and download links in an unknown email.
6. Carelessness-It gets installed when you click unintentionally on an infected link. Always pay attention while clicking on unsafe links or hidden links.
7. Torrents & P2P File Sharing: Online Ads are another common culprit. Torrent sites especially are well known for their tricks involving multiple fake download buttons. If you click on the wrong button, you’ll get a file to download that is named exactly like the file you want. Unfortunately, what’s inside is the virus.
8. Fake download websites are another wellspring of hijacker programs. These websites have worked in calculations, which enable them to duplicate your search queries and influence the search engines to trust they have an ideal match for your search. When you endeavor to download a file from such a webpage the name will fit, but the data that you have downloaded is going to be loaded with infections, viruses, malware and other threats. So, it is never a smart thought to open documents got from arbitrary sources without scanning them for infections first. Always keep an anti-virus program on your machine.

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 Tips to prevent Ethereum attack from entering your computer :