Cryptocurrency security covers theft, fraud, ransomware payments, wallet compromise, and blockchain risks involving digital assets and transactions.
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Background for this topic.
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.
Coinbase is going Liam Neeson on its attackers, potentially setting a new precedent for incident response in the wake of crypto- and blockchain-targeting cyberattacks.
An American-Israeli national named Osei Morrell has been arrested in Israel for his alleged involvement in exploiting the Nomad bridge smart-contract in August 2022 that allowed hackers to siphon $190 million. [...]
For at least half a year, the official software supplied with Procolored printers included malware in the form of a remote access trojan and a cryptocurrency stealer. [...]
Twelve more suspects were charged in a RICO conspiracy for their alleged involvement in the theft of over $230 million in cryptocurrency and laundering the funds using crypto exchanges and mixing services. [...]
Also: Prison Time for an Irish Crypto Launderer, an ISIS FinancierEvery week, ISMG rounds up cybersecurity incidents in digital assets. This week, prison sentences for Celsius CEO, Irish crypto launderer and an ISIS supporter, exCH and Haowang close, a Parisian kidnapping attempt on crypto CEO's family and Sinaloa Cartel leaders charged in U.S. federal court.
Cryptocurrency exchange Coinbase has disclosed that unknown cyber actors broke into its systems and stole account data for a small subset of its customers
Coinbase, a cryptocurrency exchange with over 100 million customers, has disclosed that cybercriminals working with rogue support agents stole customer data and demanded a $20 million ransom not to publish the stolen information. [...]
Report Finds North Koreans Embedded in Top Blockchain and Web3 ProjectsA new report details how North Korea’s cybercrime network is infiltrating global tech firms with fake IT workers who exploit trusted access to steal millions in cryptocurrency, launder funds through international fronts and channel proceeds into weapons development and espionage missions.
A Chinese-language, Telegram-based marketplace called Xinbi Guarantee has facilitated no less than $8.4 billion in transactions since 2022, making it the second major black market to be exposed after HuiOne Guarantee
While appearing unsophisticated on the surface, Chihuahua Stealer uses advanced methods
Cybersecurity researchers have discovered a malicious package on the Python Package Index (PyPI) repository that purports to be an application related to the Solana blockchain, but contains malicious functionality to steal source code and developer secrets
A global cryptocurrency phishing operation likely based in India or Sri Lanka has been stealing digital assets since at least 2022
Germany’s BKA has seized the infrastructure behind the crypto swapping service eXch