Tag Archives: Security & Ransomware

A popular digital asset known as Squid Game token – based on a hit Netflix series – has gone kaput. The currency was trading for well over $2,800 during the weekend, but the currency has since crashed into oblivion and is now worth less than half a cent after executives decided to pull the plug and run off with all the proceeds. Squid Game Token Is Over and Done With The currency gets its name from “Squid Game,” a Netflix series in which players gamble with their lives....

A teenage boy in the town of Lincolnshire in the United Kingdom has been issued with a 12-month rehabilitation order after he created a phony website that cheated dozens of people out of money that was later used to purchase cryptocurrency. At the time of writing, these digital funds – worth approximately two million pounds – have been confiscated by law enforcement agents. UK Boy Is Seeing His Assets Taken The boy is remaining anonymous at press time, though according...

People will go through great lengths to get their hands on cryptocurrency. After all, assets are booming like they never have before, and bitcoin is on the verge of once again hitting $64,000 per unit, which was the new all-time high it achieved in April of this year. However, who would be nasty enough to kidnap someone over it? This is the situation at hand as a 14-year-old boy was taken against his will after talking about his growing crypto stash on social media. The...

An international ring of scammers has its eyes set on crypto fans that are looking for love, according to Sophos cybersecurity researchers. The goal is to get them to give up control of their digital stashes, as well as their handsets. Sophos Discusses New “Crypto Rom” Scam The gang has been dubbed “Crypto Rom,” and according to Sophos, the organization has expanded from Asia into regions of both Europe and the United States. The structure of the scam works, in many...

Jonathan Toebbe – a nuclear engineer with the U.S. Navy – has been charged with trying to sell secrets regarding the country’s nuclear submarines for cryptocurrency. Toebbe Is Charged with Conspiracy to Pass Along Restricted Data The scheme was allegedly uncovered by the Federal Bureau of Investigation (FBI) in late 2020. Agents posing as foreign nationals reached out to Toebbe with an offer of paying digital currency in exchange for information about the U.S.’s nuclear...

Just a day or so after announcing sanctions on crypto exchanges that engage in illicit transactions or the processing of ransomware payments, it looks like the U.S. Treasury Department is taking regulatory action against Suex, a crypto trading platform that has allegedly taken part in facilitating ransomware in the past. Suex Has Been Reprimanded According to the Treasury, ransomware is becoming a serious problem. Payments totaled more than $400 million last year alone,...

The ACE Exchange – based in Taiwan – has joined hands with several audit firms as a means of combating crypto money laundering and other illicit activity in the digital currency space. The ACE Exchange Is Stepping Up Protections One of the big problems that the crypto space is seeing as of late is the number of hackers and cyberthieves that want to walk through the door and steal money that isn’t theirs. Often, their schemes come in the form of exchange hacks that wind...

More than $3 million in Tether units have been stolen from a private antique dealer in the nation of Taiwan, suggesting that even decentralized finance is vulnerable to the illicit dealings of those who would steal and commit dirty deeds to get their hands on money. Investor Loses More Than $3 Million in Tether The victim in question is a man named Liu Kun-Hung. He holds plenty of crypto in assorted online wallets. Two contained more than $3 million in Tether, a popular...

It’s happened again, folks. Another crypto hack is in the books. This time, the victim is a platform known as Cream Finance, which at the time of writing, is reporting losses of approximately $34 million. Cream Finance Loses a Lot of Dough The money was taken after a hacker exploited an opening in the firm’s system. Cream Finance is a decentralized organization that offers lending programs to crypto traders. Individuals can earn interest yields on many different...

Arise Coin was a crypto business that allegedly cheated investors out of as much as $4 million. Now, it appears the founder – a 33-year-old man named Jared Rice, Sr. – has been found guilty of masterminding the company. He has been sentenced to serve five years in prison and must also pay more than $4 million in restitution. Jared Rice Will Serve Time and Pay Penalties The sentence was handed down by US District Judge Ed Kinkeade in late August. Upon pleading guilty to...