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Latest coverage for Cryptocurrency

Cryptocurrency security covers theft, fraud, ransomware payments, wallet compromise, and blockchain risks involving digital assets and transactions.

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Cryptocurrency is a digital asset secured by cryptography and recorded on a decentralized blockchain ledger. It enables peer-to-peer transactions without intermediaries, relying on consensus mechanisms like proof-of-work or proof-of-stake to validate and add transaction blocks. Users control funds through private keys, which are critical for accessing and transferring cryptocurrency.

From an information security perspective, protecting private keys is paramount, as their compromise leads to irreversible theft. Cryptocurrency exchanges and wallet software are frequent targets for hacking, requiring robust security controls and vulnerability management. Additionally, the pseudonymous nature of transactions can facilitate illicit activities, challenging efforts to trace funds and enforce compliance. Defenses include hardware wallets, multi-factor authentication, and secure key management practices to mitigate risks inherent in cryptocurrency operations.

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Bank Info Security 2 years, 6 months ago

Ransomware Trends: Medusa and Akira Rage; Tortilla Disrupted

Crypto-Malware Trackers Report a Surge in Known Ransomware Victims at End of 2023Ransomware-wielding attackers show no signs of stopping, and experts report December 2023 was the second-worst month on record for known victims. Lately, Akira-wielding attackers have been hitting Finland hard, and Medusa has been behind a rising number of attacks.

Bank Info Security 13 Jan 2024, 7:30 a.m. Akira Cryptocurrency Finland Malware Ransomware Report Victims
Bank Info Security 2 years, 6 months ago

Cryptohack Roundup: It's Raining Phishing Scams on X

Also: Bitcoin ETP, Gamma and dYdX Attacks, 2023 Hack StatsThis week, hackers ran crypto phishing scams on X accounts, the SEC approved bitcoin ETP, hackers stole $3.4 million from Gamma, dYdX detailed post-hack steps, CertiK published 2023 hack stats, TRM Labs discussed North Korean hacking and Apple India blocked users from offshore crypto exchanges.

Bank Info Security 12 Jan 2024, 7:30 a.m. Apple Cryptocurrency Hacking India North Korea Phishing Scam
Bank Info Security 2 years, 6 months ago

Top Takeaways From the Hijacking of Mandiant's X Account

All Organizations That Use X Should Review Their Two-Factor Authentication SettingsGoogle Cloud's Mandiant says its account at X, formerly Twitter, was hijacked and used to link to cryptocurrency phishing pages after an attacker guessed the account password, apparently after Twitter last year deactivated the account's SMS-based two-factor authentication, leaving it unprotected.

Bank Info Security 12 Jan 2024, 6:00 a.m. Authentication Cloud Cryptocurrency Google Phishing SMS Social Media Twitter
Bank Info Security 2 years, 6 months ago

US Securities and Exchange Commission Probes X Account Hack

Value of Bitcoin Rocketed Following Fake Post Claiming Spot Bitcoin ETFs ApprovedThe U.S. Securities and Exchange Commission said it is probing the "compromise" of its X - formerly known as Twitter - social media accounts after a hacker broadcast a fake post claiming the agency had approved spot bitcoin exchange-traded funds, which sent the value of bitcoin rocketing.

Bank Info Security 11 Jan 2024, 4:30 a.m. America Compromise Cryptocurrency Hacking Social Media Twitter