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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 1 year, 7 months ago

Trump's Crypto Plans Raise Alarms Over Conflicts of Interest

President-Elect's Crypto Push Fuels Concerns Over Market Stability and ConflictsPresident-elect Donald Trump’s strong cryptocurrency support amid market volatility is raising concerns over potential conflicts of interest, with experts warning his agenda - including potential plans to appoint a White House crypto czar - could destabilize the economy and undermine public trust.

More from Bank Info Security 29 Nov 2024, 7:30 a.m. America Cryptocurrency President Warning
Bank Info Security 1 year, 7 months ago

Cryptohack Roundup: Judge Strikes Down 'Dealer Rule' Change

Also: Python Library Update Steals Credentials; Drug Cartels Launder With TetherThis week's cryptohack roundup includes a U.S. federal judge striking down the SEC's expanded "Dealer Rule," a Python crypto library update stealing credentials, why digital payment apps are being excluded from some types of federal oversight, and drug cartels laundering profits via Tether.

More from Bank Info Security 29 Nov 2024, 4:30 a.m. America Credentials Cryptocurrency Library Money Laundering Python Theft

Cybersecurity researchers have discovered a software supply chain attack that has remained active for over a year on the npm package registry by starting off as an innocuous library and later adding malicious code to steal sensitive data and mine cryptocurrency on infected systems

More from The Hacker News 28 Nov 2024, 11:48 p.m. Cryptocurrency Cryptominer Infection JavaScript Library Malicious Code Node.js Research Supply Chain Theft
Bank Info Security 1 year, 7 months ago

US Appeals Court Reverses Tornado Cash Sanctions

Department of Treasury Overstepped its Authority, Fifth Circuit RulesA U.S. federal appeals court ruled U.S. Department of Treasury exceeded its authority by sanctioning Tornado Cash, a cryptocurrency mixing service used by North Korean hackers to launder more than $455 million. Smart contracts "are not capable of being owned," the court ruled.

More from Bank Info Security 28 Nov 2024, 8:30 a.m. America Cryptocurrency Money Laundering North Korea Sanctions