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Tag Archives: security

Mexico Detected 12 Illegal Local Cryptocurrency Exchanges

The Financial Intelligence Unit of Mexico (FIU) received information about 12 cryptocurrency trading venues that operate without legal authorization. Many experts consider that these exchanges are related to the notorious Jalisco Nueva Generación drug cartel. Are The Mexican Cartels Dealing with Digital Assets? After receiving information from various sources, the Financial Intelligence Unit of Mexico tracked and identified 12 local cryptocurrency exchanges that run their...

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Another DeFi Hack: THORChain Compromised With up to $7.6M Stolen

THORChain is the latest DeFi project to be exploited, with estimations showing that the hackers might have swooped up to $7.6 million in digital assets. The team behind the decentralized exchange promised to make whole all affected users and requested the perpetrators to contact them to discuss the return of funds. THORChain highlighted the hack on Twitter earlier on July 16th. The amount stolen remains unconfirmed as the initial estimations showed that it was more than...

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The US Intends to Employ Crypto Tracing to Fight Ransomware Attacks

The Biden administration reportedly plans to take severe measures on the use of digital assets in ransomware attacks by starting to track such transactions. Crypto Tracing to Combat Cyber Attacks The governing body of the USA discussed how to combat the growing number of ransomware attacks during a virtual briefing with members of Congress. According to Bloomberg, the Biden administration will begin tracing digital assets sent to hackers, who harm firms, corporations, and...

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Despite the Growing Prices: Cryptojacking Cases in 2020 Decline Compared to 2019 (Report)

Last year turned out to be a record-breaking one in terms of blocked computer cryptojacking attempts for cryptocurrency mining, reported the Russian cybersecurity giant Kaspersky. Although the firm noted it had stopped millions of cases, it also warned people about the potential threats. Cryptojacking in 2020 When an attacker gains unauthorized access to a computer or mobile device to mine (or mint) cryptocurrencies is now known as cryptojacking. It typically transpires when...

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Flash Loans Strike: Belt Finance Exploited for $6.2 Million

The hacker managed to steal $6.2 million worth of BUSD, the Binance native USD-pegged stablecoin converted to ETH via 1inch DEX and partially withdrawn from Binance Smart Chain onto Ethereum. This hack was comparatively benign: only $6.2 million was stolen from Belt Finance’s massive $2.6 billion total value locked (TVL). The beltBUSD vault uses four strategies. A bug in the Elipsis strategy was used to leak out funds via the Venus strategy. The vault sends new deposits to...

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$50M Drained From Uranium Finance: Hack or Rug Pull?

$50 million worth of various cryptocurrencies has disappeared from the automated market maker platform running on the Binance Smart Chain – Uranium Finance. While the team behind the project claims the funds were stolen, the cryptocurrency community speculates of a possible rug pull. $50M Gone From Uranium Finance The DeFi project took it to Twitter today to explain the exploit which targeted its v2.1 token migration event. More specifically, Uranium argued that the hackers...

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Microsoft and Intel Introduce a Shield Against Cryptojacking

The tech giant Microsoft has integrated the Intel Threat Detection Technology into its Microsoft Defender for Endpoint. This should increase detection ability and enhance protection against cryptojacking malware. The New Addition and Its Technology During the last few years, the primary cryptocurrency along with the many other altcoins have significantly appreciated in value which caused an uptick of interest for crypto mining as well. The process involves validating data...

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Not Just Ripple: SEC Goes After Another Blockchain Company

A few months after it filed a lawsuit against Ripple for conducting an unregistered security offering, the SEC has done the same against another blockchain project. This time, it’s going for LBRY – a project operating a decentralized content publishing platform. $11M Worth of Unregistered Securities Offering? Based in New Hampshire, US, LBRY Inc is a blockchain-based file-sharing and payment network that powers social networks and video platforms. Although it was founded in...

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Fake Bitcoin Sellers Steal Close to $500K From Victims

Two suspects have been accused of stealing almost $500,000 from unsuspecting victims in fraudulent bitcoin transactions in Hong Kong.Fake It Till You Steal ItAccording to a report by the South China Morning Post on Tuesday (Mar. 23, 2021), the victims, aged 33 and 31, were deceived by two con artists in a fake bitcoin transaction. The cons who posed as bitcoin sellers managed to steal HK$3.85 million ($495,650) from the victims.The victims, who work at a money exchange company, went to a shop...

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$100 Million in Monero (XMR) Ransom Reportedly Demanded from Computer Giant Acer

The Taiwanese multinational hardware and electronics company, Acer, is purportedly the latest popular organization to fall victim to the notorious REvil ransomware attack. According to recent reports, the perpetrators have requested one of the largest demands so far of up to $100 million paid in the privacy cryptocurrency – Monero.Ransomware Attack on AcerHeadquartered in New Taipei City, Acer is among the world’s largest manufacturers of computer hardware and electronics with revenue of over...

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