Cryptocurrency is the lifeblood of ransomware gangs, and their illicit use of crypto could hit record numbers this year. While overall crypto proceeds, including from crimes such as scams, fell dramatically over the past year, ransomware funds are expected to hit $899 million in 2023.
Microsoft released the largest set of patches of the year - software updates for 132 vulnerabilities, including six zero-days. Microsoft rated nine of the flaws as having critical severity, 121 as being important and eight as being linked to critical remote code execution vulnerabilities.
Every week, ISMG rounds up cybersecurity incidents in the digital assets world. This week, a Poly Network hacker stole $10 million, Belarus mulled banning P2P crypto payments, the Ethereum community proposed a new security standard and Russia raised $20 million in crypto.
Hackers kept pace with the rapid evolution of blockchain systems, stealing about $920 million in the first half of 2023. Cybercriminals attacked smart contracts, phished victims and stole from crypto exchanges in dozens of security incidents through June 30.
The European Commission is set to finalize its digital wallet initiative after the proposal achieved political consensus on the core elements concerning its implementation. The latest digital monetary initiative comes as Europe rolls out plans for a digital euro.
This week's crypto roundup includes DeFi hacks and scams in the second quarter of 2023, FTX and SBF, Justby in the CFTC's crosshairs, and JokerSpy in a Japanese exchange. Also, the IMF says a crypto ban won't curb risk, Binance won't delist privacy coins, and EU banks have new capital requirements.
A U.S. judge sentenced a 24-year-old British man to five years in prison for his part in hacking high-profile Twitter accounts as part of a bitcoin scam in 2020. Prosecutors say Joseph James O'Connor stole $794,000 by hijacking 130 accounts, including those of Barack Obama, Joe Biden and Elon Musk.
The alleged operator of the darknet narcotics marketplace Monopoly has been extradited to the U.S. to stand trial. The FBI said it identified Milomir Desnica, a 33-year-old dual Croatian and Serbian national, thanks in part to invoices found in a Monopoly database seized by German law enforcement.
Microsoft discovered hackers targeting internet-facing Linux systems and IoT devices to steal IT resources for cryptocurrency mining operations. The campaign begins by brute-forcing target systems and devices and then uses a backdoor to deploy open-source tools such as rootkits and an IRC bot.
Europe's continued efforts to control its data will not stifle competition and are not an act of "protectionism," a top European Union official said amid growing criticism of the EU's legislative proposal to introduce stringent data-sharing requirements for businesses.
Every week, ISMG rounds up cybersecurity incidents in the world of digital assets. This week: Sam Bankman-Fried is set to face two criminal trials instead of one, Binance is sinking deeper into regulatory quicksand, and the Mango Markets hacker is expected to be tried on Dec. 4.
Ukrainian cyber police have disrupted a fake investment scam that involved stealing cryptocurrency from the online wallets of several victims in Canada. The scammers operated out of two call centers in the Khmelnytskyi region of Ukraine, mainly targeting Ukrainian citizens living in Canada.
Ransomware actors are using the thing that verifies crypto transactions - mining - to their advantage. More criminals are laundering their ill-gotten gains by re-minting the digital money through mining to sanitize funds and bypass controls imposed by more highly regulated financial institutions.
Every week, ISMG rounds up cybersecurity incidents in the world of digital assets. This week, Atomic Wallet, FPG, Sturdy Finance and Hashflow suffered hacks involving millions of dollars, hackers phished followers of popular Twitter accounts and an Australian bank wanted to limit crypto use.
U.S. federal prosecutors accused two Russian nationals of carrying out the heist that provoked the 2014 collapse of cryptocurrency trading exchange Mt. Gox, then the world's largest crypto platform. One of them used the proceeds to co-found BTC-e, a now-shuttered crypto money laundering platform.
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