Cryptocurrency exchange Coinbase briefly halted its services Feb. 11 after a security researcher uncovered a critical vulnerability affecting its Retail Advanced Trading platform, allowing malicious users to sell BTC without owning any. The researcher who found the flaw got a $250,000 bug bounty.
The Department of Justice has named Eun Young Choi as its first National Cryptocurrency Enforcement Team's director, and the FBI formed the Virtual Asset Exploitation Unit to assist with blockchain analysis for theft and extortion crimes that have connections to crypto.
Unknown hackers have stolen about $1.9 million from South Korean cryptocurrency platform KLAYswap using a Border Gateway Protocol hack in the server infrastructure of one of its suppliers even though service implementers have known about BGP hijack attacks for decades and mitigations for them exist.
A 60-second TV advertisement, paid for by cryptocurrency exchange platform Coinbase. aired during the Super Bowl on Sunday. It featured a QR code that took those who scanned it to the trading website. Some cybersecurity experts have voiced concerns about using vulnerable QR code on live TV.
In case anyone doubts that Russia is the epicenter of ransomware operations, follow the money, as Chainalysis finds that "roughly 74% of ransomware revenue in 2021 - over $400 million worth of cryptocurrency - went to strains we can say are highly likely to be affiliated with Russia in some way."
In the latest weekly update, four editors at Information Security Media Group discuss important cybersecurity issues, including how the BlackMatter ransomware group has rebranded itself yet again, how the DOJ confiscated stolen Bitcoin worth more than $4 billion and takeaways from a U.S. Senate hearing on open-source...
Nellie Liang, under secretary for domestic finance at the U.S. Department of the Treasury, was the only witness at a virtual hearing on the President's Working Group report on stablecoins - virtual currencies pegged to fiat currency. Lawmakers weighed in on the benefits and dangers of stablecoins.
This edition of the ISMG Security Report analyzes what prosecutors say is the biggest cryptocurrency seizure in U.S. history as well as the biggest financial seizure. It also details how a school district CISO resigned over the district's handling of a severe data breach and busts Zero Trust myths.
The arrest of a married New Yorker couple, charged with laundering bitcoins worth $3.6 billion that were stolen from a currency exchange in 2016, highlights the risk facing anyone who wants to launder large amounts of cryptocurrency and stay free long enough to enjoy their alleged rap career.
The FBI has seized $3.6 billion in cryptocurrency that it says traces to the 2016 theft of 119,754 bitcoins from the Bitfinex virtual currency exchange. A married New York couple who styled themselves as technology entrepreneurs has been charged with laundering the stolen friends.
Meter, a blockchain infrastructure company that provides multi-chain bridging and allows users to trade multiple cryptocurrencies across Ethereum and other public chains, has been exploited for around $4.4 million, the company acknowledged via Twitter. The hack also affected the Moonriver network.
India’s Union Budget 2022 resolves some of the uncertainty around the legitimacy of crypto assets. While crypto assets will not be considered as currency, Finance Minister Nirmala Sitharaman announced that the Reserve Bank of India will be launching a blockchain-based digital rupee this year.
A variety of underground markets exist to help malware-wielding criminals monetize their attacks, including via log marketplaces such as Genesis, Russian Market and 2easy, which offer for sale batches of data that can be used to emulate a victim, whether it's a consumer, an enterprise IT administrator or anyone in...
The Wormhole network, a token bridge that allows users to trade multiple cryptocurrencies without a centralized exchange, has been exploited for 120,000 wETH tokens ($321 million). The company says it has issued a fix for the flaw and is working to "get the network back up as soon as possible."
Democratic lawmakers outlined several provisions of the proposed America COMPETES Act, a measure to counter anti-competitive actions taken by China. Crypto advocates were quick to criticize one measure they say could have caused privacy and due process concerns. The language has now been amended.