The case of supply-chain attacks on downstream end users.
Take a look at what’s left in you bitcoin wallet… your savings account… your investment portfolio.
If you don’t see a dead red cent in it, you may have been robbed by one of the most sophisticated scams ever created by digital thieves.
Many crypto-investors have collapsed, spreading fear, debt and leaving the crypto-community in chaos.
The last time things were this bad was during Bernie Madoff, or the Allen Stanford’s Financial Group Ponzi fiasco. But, how did this happen again? Well, bitcoin investors are slowly learning the grim truth.
A simple, ordinary tool called event-stream infected a solid, well known Open Source code
used by various crypto-wallet providers.
after getting control of a project with users already sold into it.
The plan behind the digital thugs was to acquire the rights over a successful Open Source project used by millions of convinced and die-hard users, to then introduce a malicious code to obtain access to their crypto-wallets. Their main focus this time was Copay, a event-stream project user.
Once installed, the malicious code would transfer wallet balances to an account in Malaysia.
Copay acted promptly and issued a warning and updated its software to bypass the problem and
protect its users.
But the problem of supply-chain attacks remains a vicious cycle.
Open Source projects with millions of users mean a vast battlefield up for grabs by digital thugs. The reason being that Open Source project are usually not well funded (if funded at all). They depend on contributions of time and good will from kind soul developers who undertake the arduous task of maintaining the project, protecting it, at no cost, but at their own expense.
And also they depend on the proclaimed openness of the source.
The same strengths that built them into widely used pieces of information, became their very own weaknesses, that may allow unscrupulous digital thugs to exploit the system and take advantage of the unaware users.
The result can mean only one thing… the Open Source collapse.
And if that happens, you will have the most catastrophic digital calamity ever.
We’re headed for dangerous times, and you cannot trust all that comes at you.