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Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Hackers Infiltrate 600K Websites Through StatCounter in Search of Bitcoin

Tony "The Bull" Severino
Tony "The Bull" Severino
6 years ago
3 mins read
Crypto bitcoin scam

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Cybercriminals have hacked one of the largest website traffic analytics platforms on the web, and with it have injected malicious code into over 600,000 websites in an attempt to gain access to Bitcoin held at cryptocurrency exchange Gate.io.

Gate.io Targeted Through StatCounter Backdoor

Matthieu Faou, malware researcher for the Bratislava, Slovakia-based cybersecurity firm ESET, has discovered a line of malicious code in a website traffic-tracking script provided by leading website analytics firm StatCounter, reports ZDNet.

StatCounter, like Google Analytics and Alexa, track various metrics websites use for audience development, sales conversations and much more. Websites are required to add a line of code to their sites, which then tracks these certain website statistics. However, that requirement has turned into a vulnerability, leading to over 688,000 websites loading the line of malicious code.

The nearly 700,000 websites appear to be safe from any potential harm, as the malicious code specifically targets Bitcoin transactions being made through popular cryptocurrency exchange Gate.io. Gate.io is currently ranked 40th by adjusted trading volume, according to data from CoinMarketCap, with nearly $50 million in daily trading volume, making the exchange a prime target for cybercriminals.

The ESET malware researcher says that the code was first added to StatCounter’s website-tracking script on November 3, and the code is still currently active four days later. Faou claims to have reached out to StatCounter, but has yet to receive a response.

“The JavaScript file at www.statcounter[.]com/counter/counter.js is still compromised,” Faou explained.

Faou adds that the malicious code very specifically searches for web pages that contain the URL path “myaccount/withdraw/BTC” – a URL string that is uniquely found on the section of Gate.io that manages a user’s Bitcoin transfers.

The code, Faou says, functions like common cryptocurrency-targeting clipboard malware, where correct Bitcoin wallet addresses are replaced by wallet addresses owned by the cybercriminals who injected the code.

The hackers have also taken steps to hide their tracks, using a different Bitcoin address for each new victim that falls prey to the malware. Users may not even notice the change of address until it’s too late, as the malware is designed to trigger after the user clicks on the submit button to transfer funds. Because of all the uncertainty surrounding the hack, Faou says it is unknown how many BTC the hackers have made off with as a result.

Gate.io has since made a statement on Twitter, claiming to have removed the StatCounter tracking script from its website. However, there still appears to be a vulnerability in StatCounter’s security that could effect any of the two million websites StatCounter services. StatCounter itself is ranked among the top 2,500 websites in the United States, and is ranked 5,072 globally, according to Alexa Traffic Ranking data.

Featured image from Shutterstock.
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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