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.
Con man blew victims' cash on antiques, artwork, other riches A crook who created a business called My Big Coin to cheat victims out of more than $6 million has been found guilty by a jury.…
Liquidity scams cost victims more than $70m, agents say The FBI has warned cryptocurrency owners and would-be owners about a scam involving phony liquidity mining that the bureau says has cost victims more than $70 million in combined losses since 2019.…
Exec, his brother, and a pal raked in $1.5m in illicit gains, Feds claim A now-former Coinbase manager, his brother, and a friend were today charged with wire fraud conspiracy and wire fraud in connection with the first-ever cryptocurrency insider trading scheme in the US.…
The U.S. Department of Justice has charged a former Coinbase manager and two co-conspirators with wire fraud conspiracy and scheme to commit insider trading in cryptocurrency assets. [...]
U.S. state and federal investigators are being inundated with reports from people who’ve lost hundreds of thousands or millions of dollars in connection with a complex investment scam known as “pig butchering,” wherein people are lured by flirtatious strangers online into investing in cryptocurrency trading platforms that eventually seize any funds when victims try to cash out.
The advanced persistent threat (APT) actor tracked as Evilnum is once again exhibiting signs of renewed activity aimed at European financial and investment entities
The U.S. Department of Justice (DoJ) has announced the seizure of $500,000 worth of Bitcoin from North Korean hackers who extorted digital payments from several organizations by using a new ransomware strain known as Maui
The threat group 8220 Gang's cryptocurrency miner and botnet reach has exploded to 30,000 global hosts, a notable increase over the past month, researchers say.
Money paid by healthcare facilities to North Korean group traced through blockchain and Chinese launderers Federal law enforcement officials this week said they seized about $500,000 that healthcare facilities in the United States paid to the Maui ransomware group.…
The U.S. Department of Justice has announced the seizure of approximately $500,000 in Bitcoin, paid by American health care providers to the operators of the Maui ransomware strain. [...]
The 8220 cryptomining group has expanded in size to encompass as many as 30,000 infected hosts, up from 2,000 hosts globally in mid-2021
Consumer protection regulation coming soon as anti-crypto rhetoric ratchets The Monetary Authority of Singapore (MAS) said on Tuesday that its cryptocurrency regulations will add measures to protect consumers, in addition to ongoing work to contain money laundering and terrorist funding.…
A cryptomining gang known as 8220 Gang has been exploiting Linux and cloud app vulnerabilities to grow their botnet to more than 30,000 infected hosts. [...]
Threat actors offer victims what appear to be investment services from legitimate companies to lure them into downloading malicious apps aimed at defrauding them.
Hundreds of US victims already identified
The U.S. Federal Bureau of Investigation (FBI) has warned of cyber criminals building rogue cryptocurrency-themed apps to defraud investors in the virtual assets space
As if the crypto world needs any help in making money vanish Cybercriminals posing as legitimate investment firms and cryptocurrency exchanges have stolen tens of millions of dollars from more than 200 people by convincing them to download mobile apps and deposit cryptocurrency into wallets owned by the perpetrators.…
Law enforcement estimates campaign has already bilked cryptocurrency investors out of $42.7 million.
The FBI warned that cybercriminals are creating and using fraudulent cryptocurrency investment applications to steal funds from US cryptocurrency investors. [...]
Plus: Weibo cracks down on political puns; Singaporean crypto biz Vauld restructures; Philippines fights Facebook rumors Asia In Brief Senior execs from Alibaba Cloud were summoned to discuss the data leak that saw information pertaining to a billion Chinese citizens sold on the dark web, according to Nikkei and The Wall Street Journal.…