Intuit is being sued in the US after a security failure at its Mailchimp email marketing business allegedly led to the theft of cryptocurrency from one or more digital wallets.

In a proposed class-action lawsuit [PDF] filed in federal court in northern California on Friday, the plaintiff Alan Levinson of Illinois claimed he and potentially others fell victim to a sophisticated phishing attack in which their Trezor cryptocurrency wallets were unlawfully accessed and funds siphoned.

Someone earlier stole from Mailchimp details of Trezor's mailing-list subscribers, and used this information to reach out to those users with an email engineered to trick them into installing malware designed to hijack their digital wallets. Levinson said he believes millions of dollars in crypto-coins were stolen in this attack, including $87,000 from his own wallet.

The lawsuit accuses Intuit and Rocket Science Group a subsidiary that operates Mailchimp of poor security practices, allowing this alleged heist to take place.

"The hackers were able to access the Trezor email list (and likely other insensitive information) through Mailchimp and/or Intuit employee accounts," Levinson wrote in his 22-page lawsuit. "Indeed, defendants confirmed that hackers used an internal employee tool to steal data from more than 100 of their clients with the data being used to mount phishing attacks on the users of cryptocurrency services."

It's said said Intuit "willfully, recklessly, or negligently" failed to put in place measures that would ensure people's data was protected and keep such a breach from happening, and then failed to disclose the breach in a timely manner.

Intuit bought Mailchimp last fall for about $12 billion.

The lawsuit states Trezor users received phishing emails on April 2 that appeared to be legitimate messages from the company claiming that their data had been compromised and their cryptocurrency was at risk of being stolen. These messages were sent to email addresses stolen from Mailchimp.

Marks were told by these bogus emails to go to what turned out to be a malicious website suite.trzor.com, note the special character to download a new version of the Trezor desktop software suite that turned out to be wallet-draining malware. According to the lawsuit, this was also made possible because an Intuit staff apparently fell victim to a phishing attack in which they inadvertently handed over their internal credentials to one or more fraudsters.

"Defendants fell victim to one of the oldest cybertricks in the book: according to reports, one of defendants' employees fell victim to a phishing email and clicked on a malicious link," the plaintiff claimed. "Accordingly, the unknown hackers were able to pilfer Trezor platform users' cryptocurrency from the compromised accounts, resulting in millions of dollars of losses."

The lawsuit claims the crooks were able to view about 300 Mailchimp customer accounts, and exfiltrate data, including subscriber email addresses, from 102 of them. One of the customer accounts was Trezor.

In a statement to The Register earlier this month, Mailchimp CISO Siobhan Smyth said the company's security engineers first became aware of the security breach on March 26 when a miscreant accessed a tool used by customer-facing teams for customer support and account administration. Smyth said the targeted campaign "was propagated by an external actor who conducted a successful social engineering attack on Mailchimp employees, resulting in employee credentials being compromised."

Levinson raised the March 26 date in his lawsuit, saying it was "a week before the phishing emails were sent" yet Intuit didn't raise the alarm until Trezor did so when it spotted the phishing campaign.

"This lack of action was particularly concerning, as Defendants acknowledged that the hackers targeted customers in the cryptocurrency and finance sectors and that the hackers gained access to API keys for an undisclosed number of customers, allowing the attackers to send phishing emails," the lawsuit stated.

Levinson wants Intuit to pay for at least three years of credit monitoring for the victims as well as actual and punitive damages and legal fees.

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Intuit sued over alleged cryptocurrency thefts via Mailchimp intrusion - The Register

Over the past 24 hours, The Graph's GRT/USD price has risen 16.21% to $0.40. This continues its positive trend over the past week where it has experienced a 7.0% gain, moving from $0.37 to its current price. As it stands right now, the coin's all-time high is $2.84.

The chart below compares the price movement and volatility for The Graph over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The Graph's trading volume has climbed 156.0% over the past week along with the circulating supply of the coin, which has increased 5.12%. This brings the circulating supply to 6.93 billion, which makes up an estimated 69.3% of its max supply of 10.00 billion. According to our data, the current market cap ranking for GRT is #48 at $2.78 billion.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Cryptocurrency The Graph's Price Increased More Than 16% Within 24 hours - Benzinga - Benzinga

Bitcoin is a cryptocurrency capable of managing entire things single-handedly, and along with that, it keeps a check on every activity which goes in the system. It is an excellent thing about any cryptocurrency because they need to watch every operation performed by the users to keep a record. There are many reasons why Bitcoin has been given in the market that they should use it for their convenience. Many investors are very much interested in trading because Bitcoin is the king of currency, and nobody wants to miss the chance of grabbing the benefits offered by it. Furthermore, Bitcoin benefits individuals and helps create confidence amongst them, motivating them to make investments regularly. Various websites like Bitlq show why Bitcoin is becoming a Desirable currency for various sectors.

In today's time, everything is so advanced, and the culture is also very advanced that it helps bring the market very close to the consumers so that they can use it better. Every industry uses Bitcoin because it will help them in various ways. They will also be receiving various opportunities to make their industry even more robust.

Bitcoin is a terrific investment because it reduces many financial risks and offers the best outcomes to the users. Nobody wants to face any risk because it becomes challenging for users to invest without the fear of risk. After all, the picture of risk keeps on rotating somewhere in the mind. But Bitcoin has demolished all those thoughts because it promises the users that there is no kind of rest and they can make the investment without fear. Finance has become very easy and fearless if the person uses Bitcoin. Many business people are looking up Bitcoin because they do not have to take a burden on their minds.

Bitcoin has helped the industry decrease the risk factor accumulated while trading and Commerce. None of the business owners or industry officials wants to lose their money because money is essential to running any industry. The main reason behind approaching is Fearless Finance. All the updates brought by the development of Bitcoin are unique and excellent for the generation continuously using it for various operations.

First of all, the thing that is noticed by anyone when they make up their mind to invest money in bitcoin is the online Trend. Every website present on the online platform has some primary and particular details about Bitcoin to help the users. Everyone needs to go through all this information to become more accessible to invest the money in Bitcoin because they know what the entire system wants from them and what they will receive. People tweet many new things about Bitcoin to help others and know that information every day.

There are many factors incorporated in Bitcoin to become solid and extensive. Most companies use Bitcoin to exchange their services and products with the help of Bitcoin units.

Industries like the factor are that all the transactions which are done through Bitcoin are very fast. In the traditional system, the transactions were slow as they used to take a lot of time. So the person who used to do the transactions used to waste a lot of time, and they could not complete their other important stuff. So it is imperative to have a good speed while doing the transaction because it matters a lot. Every currency is interpreting its motive with the electronic algorithm. The representation may come with a different concept. But the aim is the same in every direction.

The unit comes with the forecasting and operative with the most acceptable mechanism. Digitalisation is by far a chance for interpretation. The fast transaction is supervised with the standard formula, and the current nodes take nanoseconds. The million coin investment is swifter and more translucent.

The moral conduct of the bitcoin technique is quick and smooth recovery is a mentioning point. Moreover, the core balance in being determined with the total consumption is advantageous of the coin. Thus making it the long durable, and exciting currency to acquire and conduct the performance.

(Devdiscourse's journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)

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Why Every Industry Is Desiring Of Bitcoin Cryptocurrency? - Devdiscourse

The term Web3 is creating quite the buzz lately, especially among those interested in technology, cryptocurrency, and venture capital.Heres an introduction to what some people are calling the internet of the future. No one really knows what it is yet, but from an estate planning standpoint, I have some predictions.

To understand Web3, its helpful to go back in time and review the history of the internet.

In the 1990s, we were calling the internet the information superhighway. Although it was confusing and overwhelming to most, many Americans began to dial up nonetheless. Children were being taught how to surf the web alongside adults who learned how to use email and conduct basic web searches for the first time. The internet was very much a blank slate with a steep learning curve. However, many people intrinsically knew this was the next big thing that would change our lives forever. This era of the internet is referred to as Web 1.0.

In the mid-2000s, we entered the age of Web 2.0. Major platforms like Google, Amazon, Facebook, and Twitter emerged. They began to make the internet a more convenient place to connect, interact, and transact. However, critics began to question whether these few companies were beginning to amass too much power. In recent years, we witnessed lawsuits in which tech giants were slammed with billion-dollar fines for harvesting personal data and breaching data privacy laws.

Although the public enjoys taking advantage of free services and centralized data, many are questioning the role of these tech giants and whether their control over data is too great. Should we democratize and create information exchange silos on the internet once again?

This is where Web3 comes in, and why its causing a brouhaha amongst tech speculators.

The internet would be decentralized sans tech giants in the future of Web3. We could be looking at the rise of new social platforms, search engines, and marketplaces built and owned by the collective, rather than by a corporation.

End users would reclaim their power and control over their own data. They could possibly move around from platform to platform on the internet using a single personalized account, rather than having to log into multiple different accounts for each respective company and platform.

We could be given tokens for participating, which can then be used to vote on decisions regarding how a platform should change or improve, or demand what features we want to be offered. These tokens could even accrue real value and build our wealth.

How will this be possible? How will all this be secure? Web3 will be built using blockchain technology. Yes, thats right. Its the same technology that is used by cryptocurrency right now. One of the reasons why cryptocurrency and decentralized finance are so popular today is because they cut the middleman out of determining value and executing trades on the internet.

Web3 may be the pathway to cutting the middleman out of the internet, data, and information exchange itself. The internet could become a place that is run by the collective, using digital tokens as its currency.

Although the idea of Web3 could make any average persons eyes glaze over, those who are ahead of the curve and understand crypto are getting excited and placing their bets on Web3.

Do you remember the very beginning of the internet? We would dial-up through America Online (now AOL) in the 1990s and the most we could really do was visit our friends Geocities pages. Everything felt clunky and awkward, and a lot of us didnt even really know what the internet was for. It turned out that the experts werent wrong, and today, the internet pretty much runs our lives.

Web3 could very much be a parallel to this. Its something that remains to be seen, and there is no universal understanding of what Web3 is, or what it will look like. We may be decades away from Web3 becoming our reality, but it behooves us to start thinking about how blockchain technology will revolutionize how we conduct our personal business.

One aspect of this is estate plans. Its entirely possible we could have blockchain-based estate plans. You could, in theory, set up smart contracts that dictate that your digital assets will be passed automatically to your spouse or beneficiary upon a specified trigger event, such as your death. These assets would not go through the probate court as they would today.

In other words, in the age of Web3, we could be looking at a possibility in which the effectuation of an estate plan could become decentralized.

Although we may be decades away from a new reality like Web3, the estate planning industry is already taking steps in this direction.

For instance, California has enabled the small-estate affidavit, which allows for estates valued under $166,250 to bypass probate. More states could follow suit. On a grander scale, more and more states are adopting laws that enable the digital execution of wills. This is made possible by legally recognizing e-signatures and e-notaries. These types of regulatory changes make it possible for wills to be effectuated automatically and digitally.

The digital age is here, and one thing you can do now is protect your assets (both physical and digital) with an estate plan. We are hearing too many jaw-dropping stories about hundreds of millions in cryptocurrency fortunes being lost in the ether due to a lack of proper estate planning. Crypto is popular amongst young adults, demonstrating the need for estate plans to be established earlier in life as well.

Have a plan in place for how to protect your digital assets, how you plan to pass them on if anything were to happen to you, and leave instructions for how they can be accessed and used. Estate planning is the key in this digital age.

Cody Barbo, Founder & CEO,Trust & Will

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What is Web3? The future of the internet, cryptocurrency, and estate planning - Fast Company