Virtual currency mixer Blender.io has been sanctioned by the U.S. for enabling North Korea to conduct "malicious cyber activities and money laundering of stolen virtual currency," the U.S. Treasury Department’s Office of Foreign Assets Control says in its first sanctioning of a currency mixer.
Two signs that the tide may finally, if slowly, be turning on ransomware: The number of victims who choose to pay continues to decline, while the amount they pay - when they choose to do so - recently dropped by one-third, reports ransomware incident response firm Coveware.
DeFi platform Fei Protocol has offered a $10 million "no questions asked" bounty to hackers in an attempt to recover some of the funds stolen from its recently merged DAO partner Rari Capital. Blockchain security firms BlockSec and CertiK say the amount of stolen funds totals about $80 million.
Don't stockpile cryptocurrency in case your organization falls victim to ransomware-wielding attackers and opts to pay a ransom. This might seem obvious to anyone aware of the volatility in Bitcoin's value, but some organizations reportedly used to employ this incident response strategy.
Almost all ransomware-wielding attackers accept Bitcoin for ransom payments, but many prefer Monero, thanks to the privacy-preserving coin being tougher for law enforcement officials to track. But advanced intelligence efforts to try and unmask criminal users of both Bitcoin and Monero are ongoing.
VMware's Tom Kellermann is out with Modern Bank Heists 5.0, his latest look at the attackers and attacks targeting financial services. Subtitled "The Escalation," this report looks at the increase in destructive attacks, ransomware and hits on cryptocurrency exchanges. Kellermann shares insights.
Hours after global cryptocurrency exchange Currency.com announced it was halting operations in Russia, it faced - and thwarted - a distributed denial-of-service attack. The company's founder, Viktor Prokopenya, says the firm's "servers, systems and client data remained intact and uncompromised."
Decentralized credit-based stablecoin protocol Beanstalk was the victim of "a theft of about $76 million in non-Beanstalk user assets." The Ethereum-based protocol did not specify what those assets included, but blockchain security firm PeckShield says the total losses are likely $182 million.
Ronin Network, which powers the popular NFT game Axie Infinity, announced it had been the victim of a security breach that amounted to about $615 million in stolen funds. The company tweeted that the attacker's wallet had been connected to Binance and that an investigation is currently underway.
Last week, the U.S. Department of Justice said that law enforcement authorities had made "one of the largest cryptocurrency forfeiture actions ever filed by the United States," confiscating about $34 million worth of cryptocurrency "tied to illegal dark web activity." Here's how they made it happen.
Acting Comptroller of the Currency Michael J. Hsu says there are compelling arguments for a centralized U.S. stablecoin, but there are also high risks associated with it. Some security experts question whether the technology has advanced enough and consider stablecoin risks.
A group of fraudsters made more than $1.6 million in a massive scam using fake cryptocurrency giveaway YouTube streams attracting more than 165,000 viewers. The campaign also exploited the names of Vitalik Buterin, Elon Musk, Michael Saylor and other crypto enthusiasts.
A $960,000 NFT rug pull scam has affected at least 1,191 people who bought the tokens, a blockchain investigator and researcher who tweets as @zachxbt tells ISMG. Michael Fasanello, a private sector compliance professional specializing in anti-money laundering, also verifies the scam.
Two 20-year-olds have been charged in the U.S. for conspiring to commit wire fraud and launder money as part of a million-dollar scheme involving non-fungible tokens - or NFTs. The charges each carry a maximum sentence of 20 years in prison.
The ban on cryptocurrency transactions in China has led many users in the country to look for alternatives. But researchers from cybersecurity firm ESET say that threat actors have leveraged this scenario and targeted Chinese users by delivering Trojanized cryptocurrency wallet apps.
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