Tag Archives: Security & Ransomware

Scams are afoot… Researchers have identified more than 170 fraudulent Android-based cryptocurrency apps that are allegedly scamming digital currency miners. Scams Just Don’t Seem To Exit the Crypto Space The crypto space has always been fraught with money-stealing operations, some of which have been all too successful. Most of the time, operations are done on a largescale basis, such as when exchanges like Mt. Gox, Coincheck, or most recently, Africrypt were hit. These...

The largest cryptocurrency ransomware attack has been added to the books. Russian hacking group REvil has allegedly encrypted the data of more than 1,000 firms and companies in nations such as the United States, Sweden, and New Zealand. To release the data, the organization is requesting more than $70 million in bitcoin. REvil Is Going After Other Countries’ Infrastructures Situations like these have grown relatively common in recent days, with another big example having...

The bitcoin spikes that have occurred over the past year have led to serious jumps in ransomware attacks according to new data from Barracuda Networks, a company that provides cybersecurity products and services. Barracuda Networks Sheds Light on BTC Ransomware Between October of last year and May of 2021, the price of bitcoin rose by nearly 400 percent. That is the good news. Obviously, there are many crypto traders that raked in some heavy profits, and several...

A man in Utah is the latest victim of a crypto scam. Brandon Larsen says that he downloaded what turned out to be a phony crypto application that ultimately cost him close to $400,000 in digital funds. Brandon Larsen Has Lost Quite a Bit to Scammers Larsen says that the app looked real enough and was allegedly associated with several cryptocurrency websites he knew and used. However, it was not long before he realized that the application was fraudulent, and that it had...

It has happened again, folks. Another big crypto-related crime has been added to the books, and this time, the lost figures are more than what could have ever been anticipated. Two brothers that opened a crypto exchange in Africa known as Africrypt have made off with more than three and a half billion dollars in customers’ digital money. Africrypt May Be the Biggest Crypto Theft in History The brothers – known as Ameer Cajee and Raees Cajee – founded the cryptocurrency...

Chinese law enforcement agents have arrested approximately 1,100 individuals on charges of using crypto to launder money. The move is clearly a reminder that China is avidly working towards a society where crypto holds a limited or non-existent presence. China Is Working Against a Crypto Society In the process of arresting everyone, China has also stated that it has eliminated more than 170 criminal gangs known for committing financial crimes. The individuals in question...

Not long ago, agents with the Federal Bureau of Investigation (FBI) managed to intercept bitcoin funds stolen through a ransomware attack on the Colonial Pipeline. The move resulted in a heavy blow to BTC, which experienced another massive dip over the weekend. How the FBI Got in the Way of a BTC Payment The FBI has now emerged with more details regarding the interception. The federal agency states that they were not able to find any security issues with the bitcoin...

Just prior to his anticipated “SNL” appearance, it appears Elon Musk was once again the subject of a Twitter-based bitcoin scam that saw several of his social media followers getting BTC-related spam in their message feeds. It Looks Like an Elon Musk Twitter Account Was Compromised It seems like Elon Musk and his followers just cannot catch a break in this department. Musk is constantly the subject of several crypto based social media scams. For the most part, it looks...

The cryptocurrency space has often been wrought with fraud, which has caused problems for both regulators and traders. In the state of Texas, a new crypto-based Ponzi scheme has come about that has ultimately caused the area’s securities commissioner to step in. There’s a New Crypto Ponzi Scheme in Texas Travis J. Iles has issued an emergency cease and desist order to stop what he is referring to as a fraudulent cryptocurrency trading program. Those allegedly guilty of...

Brian Armstrong – the CEO of Coinbase, one of the world’s largest and most popular cryptocurrency exchanges – has been having one heck of a week. The trading platform made its stock debut on the Nasdaq a few days ago, and things appear to really be taking off. Brian Armstrong: No Hacks, No Regulation Coinbase saw its stock trading for well over $300 per share. Given that the company is likely valued at more than $100 billion at this stage, this is small beans compared...