Ramesh has seven years of experience writing and editing stories on finance, enterprise and consumer technology, and diversity and inclusion. She has previously worked at formerly News Corp-owned TechCircle, business daily The Economic Times and The New Indian Express.
North Korean hackers stole $1.7 billion in cryptocurrency during 2022, most of it from decentralized finance platforms, Chainalysis finds. North Korean hackers are "systematic and sophisticated" in hacking and laundering stolen funds, and the nation supports cryptocurrency-enabled crime.
The Dutch central bank fined Coinbase 3.3 million euros, saying the U.S. cryptocurrency exchange failed to comply with the national anti-money laundering statute. Since May 2020, Dutch law has required crypto companies operating in the Netherlands to register as money transmitters.
When the DOJ announced a "major, international cryptocurrency enforcement action," observers expected to see charges against a well-known firm. Instead, the agency charged a lesser-known figure, Anatoly Legkodymov, the Russian founder of Bitzlato, with facilitating $700 million in illegal activity.
North Korea's Lazarus Group was behind the $100 million theft from the Horizon blockchain bridge, the U.S. federal government confirmed. The FBI vowed "to expose and combat North Korea's use of illicit activities - including cybercrime and virtual currency theft - to generate revenue."
U.S. regulators filed a civil lawsuit against accused Mango Markets manipulator Avraham Eisenberg, who already faces criminal prosecution for allegedly stealing $114 million. The Commodity Futures Trading Commission suit is the agency's first action against an oracle price manipulation strategy.
Coinbase agreed to a $100 million settlement with the New York financial regulator on Wednesday over cybersecurity lapses and failure to comply with anti-money laundering guidelines that allowed criminals to use the platform for fraud, money laundering and other illicit activities.
The U.S. attorney in New York has established a task force to trace and recover funds missing from FTX and manage probes related to the firm's collapse. The team comprises prosecutors with expertise in securities and commodities fraud, money laundering and asset forfeiture and cybersecurity.
U.S. banking regulators warned banks to be wary of cryptocurrencies, writing in a joint statement that digital assets on decentralized networks are "highly likely to be inconsistent with safe and sound banking requirements." The missive comes after a volatile year for cryptocurrency.
Former cryptocurrency billionaire Sam Bankman-Fried entered a "not guilty" plea in Manhattan federal district court Tuesday. He faces up to 115 years in prison if found guilty on all counts. Bankman-Fried has been out on $250 million bail in home detention with his parents in California.
The Bahamas Securities Commission seized digital assets worth $3.5 billion from local firm FTX Digital Markets. The regulator says the funds were at risk of "imminent dissipation" due to hack attacks and will temporarily remain under its exclusive control, stored in secure digital wallets.
California hospital operator Scripps Health has agreed to pay $3.57 million in "minimum cash settlements" of $100 per victim, plus some additional types of expenses, to settle a class-action lawsuit filed by victims of a 2021 data breach perpetrated by ransomware-wielding attackers.
U.S. law enforcement arrested and charged the hacker who exploited Mango Markets with fraud and market manipulation. The man earlier claimed that the $110 million hack on the decentralized finance platform had been merely a "highly profitable trading strategy."
The theft of nearly $400 million from cryptocurrency platform FTX hours after it went belly up is now the subject of an investigation by the U.S. Department of Justice, Bloomberg reports. The criminal case is separate from the criminal fraud prosecution of co-founder Sam Bankman-Fried.
North Korean attackers are using phishing websites to impersonate popular NFT platforms and DeFi marketplaces to steal digital assets worth hundreds of thousands of dollars. They set up nearly 500 decoy sites, including one of a project associated with the World Cup and NFT marketplace OpenSea.
U.S. President Joe Biden signed into law the Quantum Computing Cybersecurity Preparedness Act, designed "to encourage the migration of federal government IT systems to quantum-resistant cryptography" by ensuring they prepare strategies now for implementing forthcoming cryptography standards.
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