The U.S. SEC in a new advisory warns against schemes targeting digital assets. Security experts say that with social engineering attempts on the rise, individuals and organizations must defend against related scams and other "get rich quick" schemes.
The U.S. SEC announced civil action against defunct cryptocurrency lending platform BitConnect for allegedly defrauding investors out of $2 billion. In response, experts say cryptocurrency markets will face continued scrutiny over investor protections, fraud and security.
Users of OpenSea, a marketplace for blockchain-based digital assets such as crypto collectibles and non-fungible tokens, are being targeted by scammers pretending to be the company's support staff on Discord. The attackers exploited a method OpenSea uses to service support tickets on Discord.
The U.S. Securities and Exchange Commission will monitor decentralized finance transactions, after contracting with the blockchain cybersecurity firm AnChain.AI. Legal experts suggest this and other recent moves preview increased regulation of the decentralized finance space.
Sen. Pat Toomey of the Senate Banking Committee is requesting input from the cryptocurrency and blockchain community to inform future legislation on its security and privacy. Several experts praise efforts to regulate the space, but cite its complexities.
Although a majority of financial services executives predict that cryptocurrency will replace or rival fiat currency within the next five to 10 years, they say cybersecurity, regulatory and privacy issues are among the biggest obstacles to its adoption, according to a survey by Deloitte.
Ukrainian police have shuttered several allegedly illegal cryptocurrency exchanges throughout the country that were processing about $1.1 million in virtual currencies each month. Officials say the exchange allegedly appeared to facilitate money laundering and had connections to Russia.
The hacker behind the $612 million breach of the blockchain-based Poly Network system has reportedly returned all stolen assets. Security experts have highlighted a critical vulnerability and a need for further DeFi security regulations.
Cybercriminals have developed a blockchain analytics tool on the darknet that could help a gang launder illegally obtained bitcoin, and they are actively marketing it, according to the cryptocurrency analytics firm Elliptic. The tool, however, is rated as not entirely effective.
A hacker breached the blockchain-based Poly Network platform to steal more than $600 million in cryptocurrency, the platform announced Tuesday. But Wednesday, it appeared the hacker had returned some of the stolen assets.
The world is now focused on ransomware, perhaps more so than any previous cybersecurity threat in history. But if the viability of ransomware as a criminal business model should decline, expect those attackers to quickly embrace something else, such as illicitly mining for cryptocurrency.
Two brothers who run Africrypt, a currency exchange service based in Johannesburg, South Africa, have been accused by law firm Hanekom Attorneys, acting on behalf of investors, of 'vanishing' along with $3.6 billion in cryptocurrency investments.
Bitcoin has enabled fast payments to cybercriminals pushing ransomware. How to deal with bitcoin is the subject of a spirited debate, with some arguing to restrict it. But bitcoin doesn't always favor cybercriminals, and it may actually be more of an ally than a foe by revealing webs of criminality.