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Industry News: ESG5

      Know Your Breach: Cashaa

      Jul 17, 2020 1:40:20 PM

      The target: Cashaa, a British-based cryptocurrency exchange.

      The take: $3 million USD in Bitcoin

      The attack vector: The attackers compromised Cashaa’s systems by installing malware onto a company computer used to make their transactions. Once this malicious software was active, the attackers received a notification which informed them when one of Cashaa’s employees logged into the computer to make transfers from another crypto exchange site’s wallet. The hackers used their backdoor to access this wallet to drain the funds, receiving all 336 Bitcoin instead of the intended party.

      The point of entry for an attack can have cascading consequences and this incident shows why securing company computers with proper malware detection is absolutely critical to strong cybersecurity. The breach which led to the malicious software being installed and the further monitoring failure which allowed the malware to send out notifications to the attackers, facilitated the theft.

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      Topics:Know Your Breach

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