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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, 3 months ago

Cryptohack Roundup: Sam Bankman-Fried Gets 25-Year Sentence

Also: US Sanctions for Russia-Linked DeFi, Coinbase Can't Escape SEC LawsuitThis week, Sam Bankman-Fried got 25 years, the U.S sanctioned a Russian fintech, Coinbase can't get out of an SEC lawsuit, Munchables lost millions and had it returned, Curio and ParaSwap had smart contract problems, Hong Kong warned about crypto entities, and TRM Labs reported 2023 crypto trends.

More from Bank Info Security 29 Mar 2024, 8:30 a.m. America Cryptocurrency Lawsuit Russia Sanctions

Anyscale claims issue is 'long-standing design decision' – as users are raided by intruders Thousands of companies remain vulnerable to a remote-code-execution bug in Ray, an open-source AI framework used by Amazon, OpenAI, and others, that is being abused by miscreants in the wild to steal sensitive data and illicitly mine for cryptocurrency.…

More from The Register 28 Mar 2024, 9:40 a.m. Amazon (company) Artificial Intelligence Cryptocurrency Flaw Framework Open Source Theft Vulnerability

Cybersecurity researchers are warning that threat actors are actively exploiting a "disputed" and unpatched vulnerability in an open-source artificial intelligence (AI) platform called Anyscale Ray to hijack computing power for illicit cryptocurrency mining

More from The Hacker News 27 Mar 2024, 11:39 p.m. Artificial Intelligence Cryptocurrency Leak Open Source Research Threat Actor Vulnerability Warning