Last week, the U.S. Department of Justice said that law enforcement authorities had made "one of the largest cryptocurrency forfeiture actions ever filed by the United States," confiscating about $34 million worth of cryptocurrency "tied to illegal dark web activity." Here's how they made it happen.
Acting Comptroller of the Currency Michael J. Hsu says there are compelling arguments for a centralized U.S. stablecoin, but there are also high risks associated with it. Some security experts question whether the technology has advanced enough and consider stablecoin risks.
A group of fraudsters made more than $1.6 million in a massive scam using fake cryptocurrency giveaway YouTube streams attracting more than 165,000 viewers. The campaign also exploited the names of Vitalik Buterin, Elon Musk, Michael Saylor and other crypto enthusiasts.
A $960,000 NFT rug pull scam has affected at least 1,191 people who bought the tokens, a blockchain investigator and researcher who tweets as @zachxbt tells ISMG. Michael Fasanello, a private sector compliance professional specializing in anti-money laundering, also verifies the scam.
Two 20-year-olds have been charged in the U.S. for conspiring to commit wire fraud and launder money as part of a million-dollar scheme involving non-fungible tokens - or NFTs. The charges each carry a maximum sentence of 20 years in prison.
The ban on cryptocurrency transactions in China has led many users in the country to look for alternatives. But researchers from cybersecurity firm ESET say that threat actors have leveraged this scenario and targeted Chinese users by delivering Trojanized cryptocurrency wallet apps.
The latest edition of the ISMG Security Report reviews the latest cyber resilience "call to action" from the White House and also explores authentication provider Okta's failure to inform hundreds of customers in a timely manner that their data could have been stolen by the Lapsus$ group.
In the latest weekly update, four editors at ISMG discuss how Russia's invasion of Ukraine complicates cybercrime ransomware payments, a former U.S. Treasury senior adviser's take on Biden's cryptocurrency executive order, and important points regarding the upcoming identity theft executive order.
As war in Ukraine rages and the Putin regime continues to drive toward population centers in the former Soviet state, U.S. cybersecurity officials remain on high alert - questioning whether the Russians will elevate the cyberwar against their Western neighbor or even NATO networks.
What are the ethics of paying ransom to cybercriminals who might be working as a proxy cyber force in support of Russia's invasion of Ukraine? Realistically, whether or not to pay often comes down to a business decision. But Russia's invasion further complicates the optics for ransomware victims.
Ari Redbord of TRM Labs joins editors at ISMG to discuss President Biden's executive order on digital assets, the role of cryptocurrency in the Ukraine-Russia war and nuances for ransomware victims who consider paying a ransom, and trends in regulatory guidance and leadership for digital currency.
U.S. President Joe Biden this week issued a cryptocurrency executive order that addresses consumer protection, national security and financial stability. Ari Redbord, former senior adviser at the U.S. Treasury, calls this order "a clarion call" for crypto regulation and shares his initial reaction.
The ISMG Security Report features an analysis of the U.S. government's request for billions of dollars in tech aid to curb the global impact of the Kremlin's campaign in Ukraine. It also examines Biden's cryptocurrency executive order and why breached organizations often don't share full details.
As expected, President Joe Biden on Wednesday signed an executive order on cryptocurrency that tackles consumer protection, financial stability, national security and climate risks. The administration calls it the first whole-of-government strategy to rein in cryptocurrencies.
President Joe Biden is expected to outline a whole-of-government approach to reining in cryptocurrencies, which have been criticized for lax cybersecurity measures. Media reports say the administration will announce an executive order on crypto this week, to align the U.S. with global allies.
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