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Accounts on Payoneer in Argentina Compromised in 2FA Bypass Incidents

 

A significant number of Payoneer users in Argentina have reported unauthorized access to their 2FA-protected accounts, resulting in the theft of funds while they were asleep. Payoneer, a financial services platform facilitating online money transfer and digital payments, is particularly popular in Argentina for its ability to enable earnings in foreign currencies without adhering to local banking regulations.

Starting last weekend, users with 2FA-protected accounts experienced sudden loss of access or discovered empty wallets upon login, with losses ranging from $5,000 to $60,000. Prior to the incidents, victims received SMS messages requesting approval for a password reset on Payoneer, which they did not authorize. Some users claim they did not click on the provided URLs, and a few only noticed the SMS after the funds were stolen.

The stolen funds were reportedly sent to unfamiliar email addresses using the 163.com domain. Investigations reveal that many affected users were customers of mobile service providers Movistar and Tuenti, with the majority using Movistar. Suspicions arose regarding a recent Movistar data leak, but the leaked data did not include user email addresses necessary for Payoneer password resets.

One theory suggests a breach in the SMS provider delivering OTP codes, granting threat actors access to codes sent by Payoneer. However, an official statement from Movistar denies responsibility for messages sent through its network and mentions blocking the numbers used in the smishing campaign.

Payoneer, while acknowledging the issue, has not provided specific details about the attack, attributing it to phishing and cooperating with authorities. Tech reporter Juan Brodersen received a statement from Payoneer blaming users, alleging they clicked on phishing links in SMS texts and entered login details on fraudulent pages. Affected users refute this, accusing Payoneer of deflecting responsibility and not addressing potential platform errors or vulnerabilities.

Despite Payoneer's SMS-based 2FA and password recovery process, which relies solely on SMS codes, users argue that the platform should not have had access to later OTP codes required for transactions if the attack was purely phishing-based.

The exact mechanism of the attack remains unclear, with various hypotheses under consideration. Payoneer users in Argentina are advised to withdraw funds or disable SMS-based 2FA and reset passwords until the situation is clarified.

In an update on January 20, a Payoneer spokesperson acknowledged instances of fraud where customers were lured into clicking on phishing links, leading to compromised account credentials or mobile phones. The company asserted swift action to contain fraud attempts and emphasized collaboration with regulators, mobile carriers, and law enforcement agencies. While restitution details vary, Payoneer is actively working to protect customers' funds and recover possible losses.

Argentina's Blockchain-based IDs are Transforming Governance

Argentina's capital, Buenos Aires, is making waves in the realm of digital governance. The city has taken a bold step forward by implementing blockchain technology to issue government IDs. This move represents a significant leap towards secure, efficient, and transparent identification processes.

Traditionally, government-issued identification documents have been vulnerable to fraud, identity theft, and bureaucratic inefficiencies. However, by leveraging blockchain, Buenos Aires aims to address these challenges head-on. The technology offers a decentralized, tamper-proof ledger where sensitive information is stored securely.

One of the key advantages of using blockchain for IDs lies in its immutable nature. Once data is recorded on the blockchain, it cannot be altered or deleted, ensuring the integrity of the information. This level of security greatly diminishes the risk of identity fraud, a prevalent concern in today's digital age.

Moreover, the blockchain-based system provides citizens with greater control over their personal information. Through cryptographic keys, individuals can manage who has access to their data, enhancing privacy and data protection. This empowers citizens and fosters a sense of trust in the government's digital initiatives.

Additionally, the use of blockchain streamlines administrative processes. Verifying identities becomes quicker and more reliable, reducing the time and resources traditionally spent on manual checks. This efficiency not only benefits citizens but also optimizes government operations.

The adoption of blockchain for government IDs also sets a precedent for other jurisdictions. It showcases the potential of decentralized technology in enhancing public services and strengthening trust between citizens and their governments.

However, challenges remain. Ensuring the accessibility of this technology to all citizens, regardless of their technological literacy, is crucial. Additionally, robust cybersecurity measures must be in place to safeguard against potential threats.

Buenos Aires' blockchain-based government ID pilot program is a groundbreaking initiative that has the potential to revolutionize the way governments interact with their citizens. By integrating blockchain technology into government IDs, Buenos Aires is setting a new standard for digital governance and demonstrating the transformative potential of this technology in creating more secure, efficient, and citizen-centric public services.

This initiative is a beacon of progress in a world that is grappling with evolving technological landscapes. It is a model for governments worldwide that are looking to harness the power of blockchain technology to redefine the relationship between citizens and their governments.




Hacker Steals Private Details of Thousands of Argentine Citizens

 

An anonymous hacker has reportedly breached the Argentinian government’s IT network and put up on sale the private details of thousands of Argentineans. 

Last month, the hacker targeted Argentina’s National Registry of Persons a.k.a. RENAPER, responsible for issuing ID cards to all citizens with data stored in digital formats as a database accessible to government agencies for queries on any citizen’s private information. The agency is a crucial cog in most government queries for citizen’s personal information. 

According to a report by The Record, the first evidence of breach surfaced earlier this month on Twitter when a newly registered account named @AnibalLeaks published ID card photos and private details for 44 Argentinian celebrities which included famous footballers Lionel Messi Sergio Aguero and Argentina’s president Alberto Fernandez. Now, the hacker is evidently looking for a buyer to sell the private details of Argentina’s entire population. 

The leaked data includes names, home addresses, birthdays, TrĂ¡mite numbers, citizen numbers, government photo IDs, labor identification codes, ID card issuance and expiration dates. There have been speculations that a VPN from someone within the Ministry of Health had been used to access the Digital Identity System right before the Twitter account leaked the initial data on the high-profile Argentines. However, the law enforcement agencies are currently investigating eight to ten employees about having a possible role in this serious cybercrime. 

“The black market for stolen data is big business, and cybercriminals will stop at nothing to find their next big payday. This attack should be a warning to governments: cybercriminals have the means to execute large-scale, sophisticated attacks, and their citizens' data is under threat," Tony Pepper, CEO of cybersecurity firm Egress Pepper said. 

"With the data of millions at risk, Argentinian citizens are now prime targets for follow-up attacks, such as financial fraud, sophisticated phishing attempts and impersonation scams, aimed at stealing further personal data, identities and even their money." 

According to security experts, this is one of the biggest breaches in the history of Argentina where the private details of 45 million Argentinian people have been put at great risk. Cybercrime is evolving and the government should strengthen their security protocols to protect its integrity.