Tag Archives: Security & Ransomware

North Korea and the United States are once again going at each other’s throats in the name of cryptocurrency activity. This time, it looks like the U.S. has put sanctions in place against North Korea-based crypto mixer Tornado Cash, which at the time of writing, is alleged to have laundered more than $7 billion in digital funds. North Korea Has Been Using Tornado for the Wrong Reasons North Korea has long been the subject of crypto speculation amongst North American...

It’s happened again, folks. Another digital currency heist is in the books. This time, it’s cryptocurrency bridge platform Nomad that’s the latest victim of a cyberattack, having lost as much as $190 million at the time of writing. Nomad Has Lost a Lot of Money Nomad is a unique company in the sense that it bridges blockchains together. This makes several blockchain technology platforms compatible and opens a lot of doors that would often prevent digital currency...

Residents of Florida are being warned about a new crypto romance scam that’s operating under the names “pig butchering” and “pig slaughtering.” The names alone should be enough to make anyone run away, though for some reason, the scam has managed to permeate several online dating platforms and social media sites, meaning it is the latest scam of its kind to fully take form. A New Online Crypto Scam Is A-Brewin’ These kinds of scams are nothing new, yet the fact that...

The U.S. Securities and Exchange Commission (SEC) has charged 11 individuals for their roles in an alleged crypto Ponzi scheme that may have taken as much as $300 million from investors. A Crypto Ponzi Scheme Has Been Shut Down The Ponzi scheme – which operated under the name Forsage – had been in operation for more than two years at the time the charges were filed. The founders – along with several individuals that had been hired as promoters – were then thoroughly...

Two men hailing from Orange County have been sentenced to prison terms for their roles in a crypto scam that may have cheated investors out of nearly $2 million. Sentencing was passed to Jeremy David McAlpine (26 years old) of Fountain Valley, California, and Zachary Michael Matar (29 years of old) of Huntington Beach, California on Monday, August 1. Jeremy McAlpine and Zachary Matar Sentenced to Prison The former was sentenced to three years, while the latter will spend...

Audius – a non-fungible token (NFT) music platform – is the latest victim of a cybertheft. Attackers made off with approximately $6 million in digital currency units. Audius Loses a Lot of Crypto The big clincher with Audius is that it puts all the power in the hands of those who share their music with users on the enterprise. As a fully decentralized platform, musicians can post their songs which are then purchased in the forms of NFTs. From there, they earn all the...

Mixers within the crypto community are experiencing huge booms in business despite the crypto space crashing like it never has before. Mixers Have Been Quite Active Mixers are individuals or businesses that take digital currencies garnered through illicit means and hide them amongst legitimate assets. The process keeps the identities of the parties receiving the crypto quiet while making it appear as though they are not engaged in illicit activity. As time has gone by,...

The number of romance scams involving crypto have exploded in recent years. Not long ago, Kevin Sam of Antioch became the latest victim of one such scam, and he’s lost hundreds of thousands of dollars in digital currency funds. Kevin Sam Has Lost a Lot of Money Sam says he met a woman online that he’s not naming at press time. She described her as such: She was very kind. Still to this day, she’s kind of empathetic. He commented that their relationship continued to grow...

Paxful – a global peer-to-peer (P2P) fintech platform – is working with iProov, a company that specializes in biometric authentication technology. Together, both firms will utilize the facial recognition technology iProov is known for to verify customers are who they say they are when being onboarded or engaging in digital transactions. Paxful Is Looking to Eliminate Crypto Crime The crypto world has grown heavily in recent years, and this has come with a downside. That...

Several individuals have been arrested on charges relating to three separate instances of crypto fraud, one of which may have involved the largest non-fungible token (NFT) scam to date. As much as $130 million in digital funds are likely to have been stolen. Why Is Crypto Fraud So Common? One of the individuals charged with crypto fraud includes 26-year-old Le Anh Tuan of Vietnam. She was charged in California with one count of conspiracy to commit wire fraud and...