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Storing crypto on an exchange risks theft and hacks. But DIY can also be perilous — just ask the guy who accidentally trashed a hard drive and his Bitcoin fortune.
Combining blockchain with AI, two of the greatest innovations of this era, will unlock myriad benefits for consumers and businesses alike, writes Eugen Kuzin.
If Web3 wants to be an alternative to traditional finance, the industry must make itself less vulnerable to hacks and security breaches, writes Richard Meissner.
Improving crypto user experience is an imperative and need not come at the cost of security: Opinion
The key to making crypto easier to use while less prone to skulduggery lies in centralizing some security and UX features, writes Hsuan Lee of Blocto.
Having a crypto wallet is necessary to participate in a token airdrop, but wallets are also vulnerable to hacks and mishaps, writes Ravindra Kumar of Frontier.
Securing keys is an issue that has bedeviled the crypto world, as the $600M Ronin and $300M Wormhole heists have painfully shown. Is there a better way?
Crypto scams accounted for over half of Hong Kong’s losses from computer-related crimes in 2022.
Bitcoin ATM firm accused of profiting from crypto scams via unlicensed machines: U.S. Secret Service
A crypto tech firm and three of its executives have been indicted for allegedly operating unlicensed Bitcoin ATMs in the U.S. that profited from scams.
Crypto scammers are deploying fraudulent tokens that appear affiliated with the popular AI chatbot ChatGPT, taking advantage of the tech’s investment hype.
Mastermind of the EminiFX fraud has pleaded guilty to soliciting investments worth more than US$248 million from tens of thousands of investors, says US DOJ.
Wallets linked to Alameda Research became active over the past week, transferring millions worth of FTX’s native token, FTT, according to Arkham Intelligence.
Crypto hackers stole record US$3.8 bln in 2022, mostly from DeFi and cross-chain bridges: Chainalysis
Hackers stole at least US$3.8 billion in cryptocurrencies throughout 2022, a record-breaking year for crypto heists, says blockchain forensics firm Chainalysis.
The FBI and the DOJ have concluded a month-long disruption campaign against the Hive ransomware group, preventing victims from having to pay US $130 million.
EU’s new Digital Operational Resilience Act aims to help firms withstand cyberattacks. Monica Oravcova of Naoris Protocol explains why it doesn’t go far enough.
Being on the watch, your tracker knows where you live, when you sleep and how healthy (or not) you are. What happens if your data is sold — or hacked?
Immunefi founder Mitchell Amador believes the future security risks of CBDCs will highlight the benefits of DeFi.
What are ‘naming collisions,’ and why will unique user-owned identities play a pivotal role in Web3’s future success? Matthew Gould explains.
Ponzi schemes, investment scams and rug pulls have drained billions from crypto users in recent years. What new kinds of crypto crimes are on the horizon?
Despite blockchain’s potential, barriers to use still stand in the way, writes Andrew Vranjes of Blockdaemon. Solving security issues and reducing risk will be key.
Crypto is weathering this year’s extreme turbulence so far. But its long-term health will require the sector’s urgent attention to regulation, education and security, writes Oliver Linch, CEO of Bittrex Global.
The organized crime gangs victimize both the trafficked and those that get scammed, according to the official
FTX officials confirmed on Sunday that unauthorized transactions have drained millions of remaining user funds from wallets over the weekend.
The network says the apparent attack was just a preemptive safeguard against an issue with a cross-chain bridge.
OpenSea will pilot a system that freezes the trading of NFTs involved in suspicious sales while it reviews the transaction.
The perpetrator of the US$9.1 million Moola Market exploit returned close to the entirety of the loot in exchange for an undisclosed ransom on Wednesday, according to the project’s social media update. See related article: ‘Hacktober’ continues with US$1 mln taken from BitKeep token swap service Fast facts Decentralized finance (DeFi) project Moola Markets announced […]
The Japanese government approved amendments to existing financial regulations to prevent money laundering utilizing cryptocurrencies and increase penalties on those involved, according to local media reports. See related article: North Korea’s Lazarus Group attacks Japanese crypto firms, police say Fast facts The Cabinet, Japan’s executive body, approved the revisions to laws associated with the country’s […]
Decentralized finance sites are the preferred choice of hackers as crypto heists look to be on course to hit a record high this year.
‘Risky or illicit’ transactions represent the highest rate of any region measured by the blockchain analytics firm.
Tornado Cash, the Ethereum coin mixer slapped with sanctions by the U.S. Treasury back in August, has returned to the software hosting website GitHub amid a flurry of lawsuits against the Treasury for its action.
Gold bars, cash, jewelry, cars and luxury watches bought with defrauded funds are seized.
What if you could hit the undo button on an Ethereum blockchain transaction after discovering you’ve been scammed?
Binance Labs, the incubator and investment arm of the world’s largest cryptocurrency exchange, said it invested an undisclosed amount in Salus Security, which provides blockchain smart contract audits and automated smart contract vulnerability detection. See related article: Binance’s US$7.5 billion woman sees plenty of promise in bear markets Fast facts Binance Labs said in a […]
The Crypto Fraud and Asset Recovery Network (CFAAR), which calls itself the first global network of its kind, has launched a Hong Kong-based chapter in collaboration with seven local finance, law, and crypto regulation experts. See related article: Australia establishes federal crypto police unit Fast facts The Crypto Fraud and Asset Recovery network began in […]
The Australian Federal Police (AFP) have set up a crypto crime unit that will trace and seize illicit cryptocurrency linked to money laundering and other criminal activity, the Australian Financial Review (AFR) reported Monday. See related article: Ukraine National Police takes down crypto fraud cybercrime group Fast facts Launched in August, the unit will help […]
Taiwan’s Ministry of Digital Affairs will officially launch on Aug. 27, with information security and Web 3.0 technology as key focus areas to protect against Chinese cyberattacks amid escalating tensions between China and Taiwan. See related article: Taiwan completes trials of its prototype CBDC for retail use Fast facts The new ministry will be in […]
Non-fungible token (NFT) platform SudoRare has allegedly run off with US$815,000 in user funds and deleted its social media accounts, raising alarms over investor protection. See related article: Klaytn chief says reducing ‘human elements’ can prevent hacks Fast facts According to PeckShield Inc., a blockchain security and data analytics company, SudoRare took off with 519 […]
After high-profile cyberattacks on decentralized apps, the blockchain industry is in a hurry to ramp up security. Sam Sangmin Seo, head of Klaytn, tells Forkast that minimizing human error may be the key.
More than 300 bad actors stole US$191 million from Nomad’s cross-chain bridge which resulted from a software upgrade that backfired, crypto analytics firm PeckShield told The Block on Tuesday. See related article: Nomad Bridge alerts law enforcement amid US$200 mln attack Fast facts A routine software update on one of Nomad’s smart contracts allowed users […]
Sky Mavis’ Ronin Bridge is back online after one of the largest decentralized finance (DeFi) heists in history prompted a three-month network hiatus, Ronin announced in a Tuesday newsletter. See related article: Are we helpless against attacks on blockchain bridges? Fast facts Ronin Bridge is used by non-fungible token (NFT) game Axie Infinity players to […]
The Hong Kong Monetary Authority (HKMA) announced a joint research project with the Bank of Israel (BOI) and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Centre to study cybersecurity issues in retail central bank digital currencies (CBDCs). See related article: Hong Kong now exploring retail CBDC in upcoming Project Aurum Fast facts […]
STEPN, the move-to-earn blockchain game, suffered a distributed denial-of-service (DDOS) attack during an “anti-cheating” update over the weekend, leading to network issues and user frustrations. See related article: Move-to-earn app STEPN to limit service in China Fast facts During the update, an attack of 25 million messages led to hours of server shutdowns, with some […]
The Securities and Exchange Commission (SEC) said it is expanding its crypto asset enforcement team by adding 20 positions, in a move to bolster its efforts to combat cybercrime associated with cryptocurrency. See related article: Peirce dissents from SEC’s US$100M BlockFi settlement Fast facts The SEC on Tuesday said that its staff strength in a […]
Binance, the world’s largest cryptocurrency exchange by trading volume, denied sharing client data with Russian authorities, following a Reuters investigation into the exchange’s ties with the country.
The U.S. Department of the Treasury sanctioned what it called “the world’s largest and most prominent darknet market” based in Russia and a cryptocurrency exchange associated with ransomware activities. See related article: Russian-linked strains lead crypto ransomware in 2021: Chainalysis Fast facts The Treasury Department Tuesday sanctioned Hydra Market, alleging it offered a marketplace for […]
Aided by crypto like Monero, ransomware crimes are on the rise globally, writes Srinivas Mukkamala of Ivanti. Android users are especially vulnerable.
Australia estimates at least three million Aussies, or 11% of its people, own some form of crypto asset, according to a government-backed report published on Wednesday. See related article: Australia announces biggest overhaul to payments in 25 years — eyes now set on crypto Fast facts Crypto has been on Australia’s radar, with the Senate […]
Top blockchain and crypto news: Super Bowl score for digital asset exchanges. CryptoPunks holders face copyright conundrum. Hong Kong warns of NFT risks.
A Hong Kong government-run internet security watchdog has listed risks associated with non-fungible tokens (NFTs) and the metaverse as a top “must watch” security threat this year, while both trends continue to thrive in the city. Fast facts The Hong Kong Computer Emergency Response Team Coordination Centre said in a statement last week that criminals […]
North Korea is benefits financially from the crypto cyberattacks. Also, is Russia looking to tax crypto mining soon?
The amount of cryptocurrency used in money laundering activities increased 30% in 2021 compared to the year before, but represents a smaller portion of total transactions, according to an annual crypto money laundering report by Chainalysis, a blockchain data analytics firm. Fast facts Cybercriminals laundered US$8.6 billion worth of cryptocurrency last year, with the total […]
Cryptocurrency is fueling crimes like malicious mining and ransomware attacks, writes Andrew Brandt of Sophos. What can a company do to protect itself?
As Asia warms to crypto, cyber attacks are growing in sophistication, writes Shahnawaz Backer of F5. What can be done to thwart bad actors?
XREX Inc., a Taipei-headquartered crypto-fiat exchange and trade technology platform, today announced a partnership with TRM Labs, a blockchain intelligence provider, to ramp up its platform’s security and enhance its ability to combat fraud and suspicious activities. Fast facts XREX said in a statement it has put to use the risk management tools developed by […]
Making the most of cybersecurity awareness month, which marks its 18th year this October, the U.S. Department of Justice has announced it is launching a national cryptocurrency enforcement team targeting cybercrime. Fast facts During a virtual speech at the Aspen Cyber Summit on Wednesday, Deputy Attorney General Lisa Monaco said: “Cryptocurrency exchanges want to be […]
Top blockchain and crypto news: US leads charge in ramping up cybersecurity. Crypto fans crow as Facebook flops. China bears down on metaverses.
Brazil’s legislators are expected to discuss in the next few days a bill that seeks to establish a regulatory framework for cryptocurrencies, which may be a major step toward making Bitcoin a legal “payment currency” in the country if approved by the congress. Fast facts Bill 2.303/15, proposed by Federal Deputy Aureo Ribeiro, aims to […]
What are the different kinds of blockchain, and how do they compare? Learn all about public, private and permissioned platforms in this Forkast.News explainer.
While the funds stolen in last week’s cyberattack on Liquid are yet to be returned, the Japanese exchange has secured a US$120 million loan from fellow exchange FTX to cover losses. Fast facts Sam Bankman-Fried, the billionaire CEO of Hong-Kong based FTX, took to Twitter to make the announcement, saying he had always admired Liquid’s […]
The hunt for hackers who stole an estimated US$97 million from the Japanese crypto exchange Liquid last week has hit some snags as the cybercriminals have been actively hiding their tracks with a crypto mixing tool as they move to transfer their loot into other wallets. Fast facts According to public blockchain information on Etherscan, […]
U.S. software behemoth Microsoft is looking to develop anti-piracy measures on Ethereum using research from Chinese internet giant Alibaba and Carnegie Mellon University, according to a paper released by Microsoft’s research department. Fast facts Partnering with Alibaba and Carnegie Mellon, Microsoft says the new system — dubbed “Argus” — will run on a public blockchain […]
Accounting and consultancy giant Accenture has become the latest major victim of a ransomware attack. After Accenture initially reported that it had repelled a hacker group named Lockbit, encrypted files belonging to Accenture began to be published today, according to a report by Decrypt. Fast facts An Accenture spokesperson said in a statement: “Through our […]
Crypto-related crime has hit record levels in Hong Kong for the first six months of this year, with one victim losing HK$124 million (US$15.95 million) to fraudsters, according to the South China Morning Post. Fast facts Hong Kong police recorded 496 such cases totaling HK$214.4 million (US$27.58 million) in just the first half of this […]
Millions of dollars worth of Bitcoin paid to ransomware hackers who shut down the main fuel pipeline on the U.S. East Coast last month has been recovered.