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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 11 months, 4 weeks ago

Hackers Exploit FIDO MFA With Novel Phishing Technique

PoisonSeed Threat Actor Uses Cross-Device Login Feature and QR Code to Trick UsersExpel researchers have found a novel adversary-in-the-middle phishing technique used by PoisonSeed, a cybercrime group previously tied to large-scale cryptocurrency thefts, to sidestep one of the most secure forms of multifactor authentication - FIDO2 physical keys.

FBI Accuses Ukrainian Man of Identifying Exploitable Flaws in Victims' NetworksA 33-year-old Armenian man, Karen Vardanyan, accused of facilitating Ryuk ransomware attacks against numerous organizations, is due to stand trial in the U.S. in August. The FBI said the Ryuk operation earned at least $15 million in cryptocurrency ransom payments from victims.

Also: Scammer Gets 12-Year Sentence for Dodging RestitutionAbacus Market's suspected exit scam, crypto scammer gets 12 years for dodging restitution, GMX exploiter returns funds, BigOne's $27M hack, Arcadia Finance's $3.5M theft, NZ woman's trial for alleged murder and a DOJ crypto fraud filing's potential unmasking of MoonPay victims.

PLUS: Bluetooth mess leaves cars exposed; Bitcoin ATMs attacked; Deepfakers imitate US secretary of state Marco Rubio; and more Infosec In Brief Nvidia last week advised customers to ensure they employ mitigations against Rowhammer attacks, after researchers found one of its workstation-grade GPUs is susceptible to the exploit.…