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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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Elliptic points to several indicators that suggest the North Korea-linked gang was behind the hack Investigators at a blockchain analysis outfit have linked the theft of $100 million in crypto assets last week to the notorious North Korean-based cybercrime group Lazarus. The company said it had tracked the movement of some of the stolen cryptocurrency to a so-called mixer used to launder such ill-gotten funds.…

The Register 2 Jul 2022, 6:11 a.m. Cryptocurrency Cybercrime Hacking Lazarus Money Laundering North Korea Theft

But welcomes fast cross-border payments in central bank digital currencies In the same week that it welcomed the launch of a local center of excellence focused on crypto-inspired central bank digital currencies, Singapore's Monetary Authority (MAS) has warned crypto cowboys they face a rough ride in the island nation.…

The Register 27 Jun 2022, 12:30 p.m. Banking Cryptocurrency Finance Singapore