Kaspersky Lab researchers have uncovered dozens of highly convincing fake websites claiming to be investment sites for an initial coin offering (ICO) by the Telegram messaging service. Many of these websites appear to belong to the same group. In one case alone, tens of thousands of US dollars’ worth of cryptocurrency were stolen from victims believing they were investing in ‘Grams’, Telegram’s rumoured new currency. Telegram has not officially confirmed an ICO and has warned people about fraudulent investor sites.
In late 2017, stories started to circulate that the Telegram messaging service was launching an initial coin offering (ICO) to finance a blockchain platform based on its TON (Telegram Open Network) technology. Unverified technical documentation was posted online, but there appears to have been no confirmation from Telegram itself. The resulting confusion seems to have allowed fraudsters to capitalise on investor interest by creating fake sites and stealing vast sums of money.
Kaspersky Lab researchers have discovered dozens of such sites, possibly belonging to the same group, claiming to sell tokens for ‘Grams’ and inviting investors to pay with cryptocurrencies including Bitcoin, Ethereum, lice litecoin, dash and Bitcoin dash. A record of transactions on one site revealed that the scammers were able to steal at least $35,000 US dollars’ worth of Ethereum from investors.
The researchers found that some of the websites were so convincing that even after Telegram and others began to issue warnings, they were still able to recruit potential investors. Most use a secure connection, require registration and generate a unique online wallet for each new victim, making it harder to track the money.
Judging by the content of the fake websites, it appears they may have common ownership. For example, several have the exactly the same ‘Our Team’ section.
“ICOs are a fairly risky investment and many people don’t yet fully understand how they work, so it is not surprising that high quality fake websites, with seemingly reassuring features such as a secure connection and registration are successful at luring people in. People wishing to invest in an ICO would do well to check with the company behind it and make sure they know exactly who they are giving their money to, or they may never see it again,” said Nadezhda Demidova, Lead Web-Content Analyst, Kaspersky Lab.
Kaspersky Lab offers the following advice for users considering investing in an ICO:
- Check for warning signs: for example, some of the fake Telegram ICO websites had the same wrong image next to the name of Telegram’s Chief Product Officer.
- Do your homework: always check with the brand’s official site to verify the legitimacy of the investment site and, if necessary contact the company’s ICO teams before investing any money or currency.
- Use reliable security solutions such as Kaspersky Internet Security and Kaspersky Internet Security for Android, which will warn you if you try to visit fake internet pages.
Get your passwords in shape
New Year’s resolutions should extend to getting password protection sorted out, writes Carey van Vlaanderen, CEO at ESET Southern Africa.
Many of us have entered the new year with a boat load of New Year’s resolutions. Doing more exercise, fixing unhealthy eating habits and saving more money are all highly respectable goals, but could it be that they don’t go far enough in an era with countless apps and sites that scream for letting them help you reach your personal goals.
Now, you may want to add a few weightier and yet effortless habits on top of those well-worn choices. Here are a handful of tips for ‘exercises’ that will go good for your cyber-fitness.
I won’t pass up on stubborn passwords
Passwords have a bad rap, and deservedly so: they suffer from weaknesses, both in terms of security and convenience, that make them a less-than-ideal method of authentication. However, much of what the internet offers is independent on your singing up for this or that online service, and the available form of authentication almost universally happens to the username/password combination.
As the keys that open online accounts (not to speak of many devices), passwords are often rightly thought of as the first – alas, often only – line of defence that protects your virtual and real assets from intruders. However, passwords don’t offer much in the way of protection unless, in the first place, they’re strong and unique to each device and account.
But what constitutes a strong password? A passphrase! Done right, typical passphrases are generally both more secure and more user-friendly than typical passwords. The longer the passphrase and the more words it packs the better, with seven words providing for a solid start. With each extra character (not to mention words), the number of possible combinations rises exponentially, which makes simple brute-force password-cracking attacks far less likely to succeed, if not well-nigh impossible (assuming, of course, that the service in question does not impose limitations on password input length – something that is, sadly, far too common).
Click here to read about making secure passwords by not using dictionary words, using two-factor authentication, and how biometrics are coming to
Code Week prepares 2.3m young Africans for future
By SUNIL GENESS, Director Government Relations & CSR, Global Digital Government, at SAP Africa.
On January 6th, 2019, news broke of South African President Cyril Ramaphosa’s plans to announce a new approach to education in his second State of the Nation address, including:
- A universal roll-out of tablets for all pupils in the country’s 23 700 primary and secondary schools
- Computer coding and robotics classes for the foundation-phase pupils from grade 1-3 and the
- Digitisation of the entire curriculum, , including textbooks, workbooks and all teacher support material.
With this, the President has shown South Africa’s response to a global challenge: equipping our youth with the skills they’ll need to survive and thrive in the 21st century digital economy.
Africa’s working-age population will increase to 600 million in 2030 from a base of 370 million in 2010.
In South Africa, unemployment stands at 26.7 percent, but is much more pronounced among youths: 52.2 percent of the country’s 15-24-year-olds are looking for work.
As an organisation deeply invested in South Africa and its future, SAP has developed and implemented a range of initiatives aimed at fostering digital skills development among the country’s youth, including:
AFRICA CODE WEEK
Since its launch in 2015, Africa Code Week has introduced more than 4 million African youth to basic coding.
In 2018, more than 2.3 million youth across 37 countries took part in Africa Code Week.
The digital skills development initiative’s focus on building local capacity for sustainable learning resulted in close to 23 000 teachers being trained in the run-up to the October 2018 events.
Vital to the success of Africa Code Week is the close support it receives from a broad spectrum of public and private sector institutions, including UNESCO YouthMobile, Google, the German Federal Ministry for Economic Cooperation and Development (BMZ), the Cape Town Science Centre, the Camden Education Trust, 28 African governments, over 130 implementing partners and 120 ambassadors across the continent.
SAP’s efforts to drive digital skills development on the African continent forms part of a broader organisational commitment to the UN Sustainable Development Goals, specifically Goal 4 (“Ensure quality and inclusive education for all”)
A core component of Africa Code Week is to encourage female participation in STEM-related skills development activities: in 2018, more than 46% of all Africa Code Week participants were female.
According to Africa Code Week Global Coordinator Sunil Geness, female representation in STEM-related fields among African businesses currently stands at 30%, “requiring powerful public-private partnerships to start turning the tide and creating more equitable opportunities for African youth to contribute to the continent’s economic development and success”.
Click here to read more about the Skills for Africa graduate training programme, and about the LEGO League.