Tag Archives: Security & Ransomware

It’s happened again, folks. Another crypto exchange hack is in the books. This time, the alleged victim is Bit Mart, which appears to have lost $150 million in digital currency funds at the time of writing, though some firms – such as Peck Shield, a blockchain analytics company – believe the company may have lost closer to $200 million. Bit Mart Has Been Compromised Peck Shield was the first entity to notice the breach. Analysts saw that around $100 million in crypto was...

Law enforcement agents in Ho Chi Minh City in Vietnam have arrested nearly 60 people involved in what may be the biggest online crypto-based gambling ring in history. Thus far, more than $3.8 billion in crypto-based transactions have occurred at the hands of the organization. Gambling Like This in Vietnam is a Big No-No… The operation occurred in a very hush hush way, with several gamblers involved registering their crypto wallets on a foreign platform known as Remitano...

Law enforcement in the U.S. has taken back roughly $2.3 million in crypto funds that have been garnered through ransomware attacks. According to legal documents, the crypto was being held by a Russian man named Aleksandr Sikerin, who is believed to be living in St. Petersburg. Ransomware Is Getting Bad Sikerin is slated to be part of a notorious hacking group known as REvil. The organization has cost businesses throughout the world millions of dollars in crypto funds,...

Ransomware is becoming a huge problem. In fact, according to a detailed report published by cybersecurity firm Sophos, cryptocurrency was involved in approximately 79 percent of the world’s ransomware incidents over the past 18 months. At the top of the list were the Conti and REvil ransomware attacks. Ransomware Is Changing for the Worse Sophos also believes that so long as cryptocurrency exists, it will likely be at the center of several other attacks in the future....

A crypto fraudster that is suspected to scamming his victims out of nearly 500,000 pounds has been arrested in Latvia. Prior to his capture, the man was living in Spain’s Costa del Sol, a resort town. He is accused of using investor funds to spend on a lavish lifestyle. He is believed to have been staying in luxury hotels, buying expensive designer clothing, and enjoying fine dining in top-rated restaurants. Latvian Man in Custody After Using Crypto-Invested Customer...

A teenager hailing from the Hamilton, Ontario area of Canada has been arrested for allegedly taking part in a SIM swapping incident that stole as much as $46 million in crypto funds. The victim, who is unnamed at the time of writing, is situated in the United States. SIM Swapping Is a Big Problem The arrest occurred following a joint investigation led by the United States Secret Service Electronic Crimes Task Force and the Federal Bureau of Investigation (FBI), which...

Scams, scams, and more scams… It seems whenever we look at news relating to crypto as of late, it’s all we hear about, and according to several tech experts, the problem is getting worse. Crypto Scams Are a Serious Problem Scams have always occurred in the digital currency industry, but they have become more elaborate as time has gone by and the space has undergone change. For example, it used to be that a cyberthief ultimately gained control of the assets in a digital...

The United States Justice Department has seized more than $6 million in digital currency funds that were allegedly garnered through ransomware attacks. The Justice Department Is Moving Fast The move comes after the Justice Department recently issued new sanctions against both countries and various global exchanges that had potentially been part of collecting ransomware funds and laundering the money. Several arrests of alleged hackers have also taken place as the Justice...

It looks like fraud involving digital currency ATMs in the U.S. is shooting through the roof. Now that the entire space is worth approximately $3 trillion, many illicit players are seeking to take advantage of those who have saved up their assets, and ATMs are playing a huge role in the jump in crime. Crypto Fraud Using ATMs Has Gotten Bad There are more than 26,000 crypto-based ATMs in the U.S. alone. When one considers that there were only a little more than 4,000 in...

A new cryptocurrency scam is making its way through the digital space, and it’s got the attention of officials in the state of Florida. Regulators are now warning all crypto investors to watch out. How One Scam Is Getting So Much Attention State Attorney General Ashley Moody is referring to the scam as a “bait-and-switch” scheme. The operation works by assisting crypto investors with legitimate trades. Thus, things appear correct, and traders feel like they don’t need to...