The Federal Reserve has published its long-awaited discussion paper on a central bank digital currency. In it, the Fed points to the innovative qualities of digital currencies, but stresses potential risks to the nation's financial system, including heightened cyberthreats and privacy concerns.
Singaporean cryptocurrency exchange Crypto.com confirms that its platform fell victim to a multimillion-dollar cyberattack. In a postmortem entry on its site, Crypto.com says unauthorized withdrawals targeted Ethereum and Bitcoin of 483 users. Associated losses were near $34 million.
The latest edition of the ISMG Security Report features an analysis of whether the cyberattacks that hit Ukraine's government agencies last week are attributable to any group or nation-state along with updates to the cybersecurity executive order and illicit cryptocurrency trends.
With 16% of U.S. citizens using a cryptocurrency trading platform, OCC acting Chief Michael Hsu urges collaborative efforts to pass cryptocurrency regulations, which he says could lead to greater innovation in the space.
North Korean cybercriminals escalated their illicit campaigns throughout 2021, frequently carrying out crypto hacks to siphon funds, launder gains and cash out using a decentralized exchange. New data from Chainalysis says North Korean hackers lifted nearly $400 million in cryptoassets last year.
A new Lazarus-linked APT threat known as BlueNoroff has emerged and is actively targeting cryptocurrency startups in a campaign called "SnatchCrypto." Research by Kaspersky found that more than 15 venture businesses and their employees have fallen victim to the nation-state threat actors.
Amid a surge in cryptocurrency investment - particularly across DeFi - blockchain experts warn that lax security was a main factor in $1.3 billion in cryptoassets being lost to hacks, exploits and scams in 2021. The losses, according to CertiK, rose from $500 million in 2020.
A new feature on antivirus product Norton 360 has left cybersecurity experts baffled, as the company has made a play in the cryptocurrency space with a tool that will mine Ethereum while users' computers are idle. Observers call it a puzzling move and that the feature may be difficult to uninstall.
In the latest update, four ISMG editors discuss key cybersecurity issues, including myth busting from the founder of Zero Trust, the reason behind the surge in high-profile cryptocurrency scams in India and how ransomware attackers routinely lie about their inclinations, motivations and tactics.
Arbix Finance, a yield-farming protocol that runs on Binance Smart Chain, has reportedly siphoned user funds in what blockchain security firm CertiK labeled a "rug pull." This follows a Library of Congress report indicating that the number of nations banning cryptocurrency has doubled since 2018.
To crack down on the criminal use of cryptocurrency, including for ransomware, authorities are increasingly targeting "cryptocurrency businesses that do not have the compliance controls in place necessary to mitigate the risks of illicit activity," says Ari Redbord of TRM Labs.
ISMG's global editorial team reflects on the top cybersecurity news and analysis from 2021 and looks ahead to the trends already shaping 2022. From ransomware to Log4j, here is a compilation of major news events, impacts and discussions with leading cybersecurity experts on what to expect in the new year.
A vulnerability in Polygon, a framework used to build Ethereum-compatible blockchain networks, has been fixed. The bug, discovered by white hat hackers at bug bounty platform Immunefi, would have put 9,276,584,332 MATIC, worth nearly $23 billion, at risk.
A Republican senator will soon introduce a bill that, for the first time, attempts to regulate the cryptocurrency space. The bill would reportedly add investor protections, rein in stablecoins and create a self-regulatory organization under the jurisdiction of the SEC and CFTC.
Threat actors have attempted to steal two-factor authentication codes from users of Australian cryptocurrency exchange CoinSpot, researchers say. The codes would help attackers perform "potentially unauthorized withdrawals from individual accounts," say analysts at Cofense Phishing Defense Center.