Ramesh has seven years of experience writing and editing stories on finance, enterprise and consumer technology, and diversity and inclusion. She has previously worked at formerly News Corp-owned TechCircle, business daily The Economic Times and The New Indian Express.
In this week's roundup of digital assets-related cybersecurity incidents, Fireblocks found bugs in 15 crypto wallets, Curve Finance recouped most stolen funds, ethereum saw a high flow of illicit funds, the NFT faded more, the U.K. posted crypto crimes jobs and South Korea arrested Bitsonic's CEO.
The White House has launched an Artificial Intelligence Cyber Challenge, backed by DARPA and offering nearly $20 million in prizes, to develop a new generation of tools that can rapidly find and fix software vulnerabilities in both commercial and open-source code.
Ilya "Dutch" Lichtenstein, 35, confessed in U.S. federal court to hacking billions of dollars from virtual currency exchange Bitfinex and laundering stolen funds with his 33-year-old wife, Heather Morgan. Lichtenstein pleaded guilty to conspiracy to commit money laundering.
ISMG's roundup of digital assets-related cybersecurity incidents includes Kenya, France and Germany's probe into WorldCoin; July security incidents; Curve Finance and LeetSwap theft; the crypto amendment in the NDAA; and India's lack of crypto regulation.
Between July 21 and 27, Worldcoin set off security and privacy alarms; threat actors stole from AlphaPo, CoinsPaid, Era Lend and Conic Finance; hackers set a cryptojacking record; Apple users became the target of a crypto-stealing malware and the DOJ merged its computer crime and crypto crime units.
Natural language models aren't the boon to auditing many in the Web3 community hoped that generative artificial intelligence tools would be. After a burst of optimism, the consensus now is that AI tools generate well-written, perfectly formatted - and completely worthless - bug reports.
Now that the long-awaited FedNow faster-payment program is operating, experts debate whether U.S. financial institutions will embrace the payment ecosystem and whether the Federal Reserve and the banking industry can overcome implementation challenges and mitigate cybersecurity and fraud issues.
Between July 14 and 20, senators introduced a bill to address DeFi risk, Nasdaq held back crypto custody plans, DeFi hackers laundered lesser amounts of stolen funds in the first half of this year than in H1 2022, and an Australian bank blocked payments to high-risk crypto exchanges.
Cryptocurrency hackers are shifting their focus from bitcoin to other tokens and newer blockchain services such as cross-chain bridges for illicit activity. Why is the oldest crypto token so unappealing to hackers these days, and what do other options offer? Ari Redbord of TRM Labs explained.
Between July 6 and 13, Multichain saw unauthorized outflow of $125 million, the DOJ announced its first DeFi smart contract-focused indictment, Silk Road boss Ross Ulbricht's aide and two others were sentenced, and the FTC and SEC turned up the heat on Celsius.
Cryptocurrency is the lifeblood of ransomware gangs, and their illicit use of crypto could hit record numbers this year. While overall crypto proceeds, including from crimes such as scams, fell dramatically over the past year, ransomware funds are expected to hit $899 million in 2023.
Every week, ISMG rounds up cybersecurity incidents in the digital assets world. This week, a Poly Network hacker stole $10 million, Belarus mulled banning P2P crypto payments, the Ethereum community proposed a new security standard and Russia raised $20 million in crypto.
The world is moving on from magnetic stripe payment cards, with one notable exception: the United States. Credit card issuers, banks and consumers agree the magnetic stripe is prone to hacking - so why is one of the largest markets for plastic payment still clinging to decades-old technology?
Hackers kept pace with the rapid evolution of blockchain systems, stealing about $920 million in the first half of 2023. Cybercriminals attacked smart contracts, phished victims and stole from crypto exchanges in dozens of security incidents through June 30.
Financial services organizations face unique cloud security challenges, due to special regulatory, data security and privacy considerations that don't necessarily apply to other industries. Security and payments experts with overlapping skill sets unpack the challenges and how to deal with them.
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