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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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The Feds may see things differently Cryptocurrency bridge Nomad sent a message to the looters who drained nearly $200 million in tokens from its coffers earlier this week: return at least 90 percent of the ill-gotten gains, keep 10 percent as a bounty for discovering the security flaw, and Nomad will consider this a "white-hat" hack, as opposed to plain old theft, and not take legal action.…

The Register 6 Aug 2022, 7:43 a.m. Bug Bounty Cryptocurrency Flaw Hacking Reward Theft

NIST's nifty new algorithm looks like it's in trouble One of the four encryption algorithms the US National Institute of Standards and Technology (NIST) recommended as likely to resist decryption by quantum computers has has holes kicked in it by researchers using a single core of an Intel Xeon CPU, released in 2013.…

The Register 3 Aug 2022, 6:59 p.m. Cryptocurrency Encryption Intel Corporation NIST Quantum Research