Hello friends! There is one thing that always amazes me! There are still many people who believe that crypto currencies are the main source of crime, fraud, scams and all other bad things. But this is not true because the first crypto currency was introduced in 2009 but crime did not start in 2019! Many people, companies, and even the government had lost a lot of money since the 1990's and all that time there was no crypto! I don’t know why so many people keep blaming crypto that it’s bad, here are some crimes before crypto.
1. Phonemasters. (1994)
Before the internet even arrived, early hackers worked out a technique called phreaking for gaining access to high tariff international calls which could be sold at a profit. In one of the earliest high-profile internet hacking cases, a gang calling themselves the Phonemasters updated this technique by stealing international calling card codes online and selling them at $2 apiece.
Realising the scope for increasing their profits, the gang went on to hack, steal and sell everything from personal credit reports to FBI crime records, even at one point hacking the White House. Their activities were estimated to have raised around $1.85 million....!!
2. Citibank - Vladimir Levin (1995)
Demonstrating the global reach of cybercrime even when the world wide web was still in its infancy, Russian software engineer Vladimir Levin managed to hack into Citibank’s New York IT system from the comfort of his apartment in St Petersburg. Once in, he set about authorising a series of fraudulent transactions, eventually wiring an estimated $10 million to accounts worldwide!!
3. Melissa Virus (1999)
Nowadays, most of us are aware of the threat of so-called phishing attacks which use SPAM email to distribute viruses. But in 1999 the world was blissfully unaware of this possibility, which made the spread of Melissa all the more devastating. The work of an American programmer called David L. Smith, the Melissa Virus was carried in a Word document attached to an email. When the attachment was opened, not only would the virus infect the host system, it would automatically forward the email to the first 50 people in the victim’s address book. The result was a virus which spread so quickly that some email providers had to suspend services until a fix was found.
4. MafiaBoy (2000)
MafiaBoy was the online handle of a precocious teenage hacker from Quebec, Canada called Michael Calce. The archetypal troubled boy genius who used his computer as his escape from the world, in February 2000 Calce launched Project Rivolta – a series of massive Distributed Denial of Service (DDoS) attacks against companies including Yahoo!, Fifa.com, Amazon, Dell, eBay and CNN. By overloading the companies’ servers with traffic to the point that they shut down, Calce managed to freeze operations at several multinational corporations, losing them an estimated $1.2 billion.
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I have listed only four short history of those crimes, but there are many until to 2018! Click this link to read the history of other crimes VPN Mentor Blog and you will read many other interesting articles EVERYDAY.
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You are right... Crime is very there before crypto