Tag Archives: Security & Ransomware

More than $3 billion in crypto funds have been stolen this year according to a new report issued by blockchain analysis firm Chainalysis. Chainalysis: Crypto Theft Has Reached a New High The crypto space is constantly in a rough spot. There are many people out there that are completely against any sort of regulation, as the crypto space was initially established to give traders and users complete financial independence. No prying eyes, no third parties, just people and...

Two residents of San Antonio, Texas have pleaded guilty to engaging in a crypto fraud scheme. Andrew Trujillo and Zena Dounson allegedly looked through various online channels as a means of scoping out people who had earned money through crypto investing. Andrew Trujillo and His Partner Are Guilty From there, they would choose specific targets and go in for the kill. Dounson – who worked at AT&T – used her employee credentials to sneak into the victims’ phones and...

Mustafa Gokiu – a man living in the town of Sunnyside, New York – was convicted in mid-October by a federal jury in Brooklyn for allegedly running a crypto money laundering and drug scheme. It is stated in court documents that the man laundered BTC units through an unlicensed money-transmitting business. Mustafa Gokiu Guilty of Crypto Money Laundering At the age of 50, Gokiu was found guilty on several charges including money laundering, operating an unlawful money...

The growth of crypto scams is occurring at an unprecedented rate. This can be attested to by a woman in the region of Sudbury, for example, who recently entered a scam that could have gone quite far. Crypto Scams Are Becoming Too Common The woman was approached by someone posing as a police officer named Scott Nix. The person convinced her that she needed to empty her bank account and send him the money via bitcoin so that he could verify the funds were real and help her...

It’s happened again, folks. Another hack is in the books, but this one was not only large, but also unexpected. The victim this time around is Binance, the largest and most powerful digital currency trading platform in the world. Binance Has Lost a Lot of Money At the time of writing, the exchange has lost more than $600 million in a cyberattack. All the funds in question were in BNB, which stands for Binance Coin. It is the exchange’s native token. The exchange reported...

Scams, scams, and more scams. It appears that’s all the digital currency space is associated with as of late… That and falling prices. The idea of scams lessening anytime soon isn’t taking hold, especially now that police in the town of Edmonton say they’re looking to assist victims of a crypto fraud case that ultimately saw nearly $6 million in digital funds being wiped from their portfolios. Scams in the Crypto Space Are Still Too Prominent The scam in question has...

Earlier in the year, Live Bitcoin News reported a major hack on the Axie Infinity network. The company lost more than $600 million in crypto funds, and later analyses suggested the hack had occurred through the efforts of Lazarus, a notorious cybercrime enterprise based in the nuclear state of North Korea. Axie Infinity Comes Out the Winner It appears there is someone above looking out for Axie Infinity as law enforcement agents in the U.S. report having garnered as much...

The region of Queensland in Australia has, as of late, been a hub for crypto fraud and related scams, and it looks like residents have lost close to $40 million at the time of writing. This is a huge uptick from the number reported just last year during this time, which was around $20 million. Australia and Crypto… Not the Greatest Match? Throughout Australia, as much as $263 million has been lost to crypto scams. Federal police in Australia now refer to the growing...

A hacker has used an old video of Elon Musk talking about cryptocurrency to potentially infiltrate the South Korean government. Elon Musk Is Constantly “Loved” By Hackers The incident was reported during the early morning hours of a day in mid-September. A YouTube channel hosted by South Korean regulators that often features videos and commentary discussing incoming policies and government-based events was overtaken by the hacker. The channel presently has about 263,000...

A panel of House members in the United States Congress is pressing cryptocurrency leaders to discuss what they’re planning to do to protect potential crypto investors from falling victim to fraud and scams. How Can Crypto Keep People Safe? One of the big problems associated with running an unregulated industry like crypto is the fact that there are virtually no rules, and there are practically no governing bodies that can get in the way of things going wrong or people...