Security News

A US citizen has admitted to helping the Democratic People's Republic of Korea to establish cryptocurrency capabilities and faces up to 20 years jail for his actions. The Department of Justice on Monday revealed that Virgil Griffith, a US citizen resident in Singapore, hatched plans in 2018 to help an individual in the hermit kingdom mine cryptocurrency.

Griffith, who worked as a special projects dev and researcher for the Ethereum Foundation, was arrested in November 2019 by the FBI. Advice on how to evade sanctions and launder money. His arrest happened after he traveled to North Korea to give a presentation on how to use cryptocurrency and blockchain tech to launder money and evade sanctions.

September 20th 2021 US farmer cooperative hit by $5.9M BlackMatter ransomware attack. U.S. farmers cooperative NEW Cooperative has suffered a BlackMatter ransomware attack demanding $5.9 million not to leak stolen data and provide a decryptor.

A new Elon Musk-themed cryptocurrency giveaway scam called the "Elon Musk Mutual Aid Fund" or "Elon Musk Club" is being promoted through spam email campaigns that started over the past few weeks. Before you dismiss these scams, saying that no one falls for them, similar crypto scams have been hugely successful and have generated hundreds of thousands of dollars in the past.

The Biden administration is expected to issue sanctions against crypto exchanges, wallets, and traders used by ransomware gangs to convert ransom payments into fiat money. With ransomware attacks against US interests and infrastructure escalating over the past two years, the White House has increased its efforts to disrupt ransomware operations.

In 2018, hackers famously compromised several cryptocurrency exchanges by compromising a popular software library used by most exchanges on the internet. Cryptocurrency exchanges are convenient, which means people will almost certainly continue to use them.

Poly Network says virtually all of the crypto-currency funds, valued at $610m, stolen from it by a thief have been returned. The thief, dubbed Mr White Hat by Poly Network, promised to hand the funds back, claiming it was just done for fun and to highlight the security flaw.

An IoT bug that could be exploited for video snooping and more. A hacker steals $600m and then makes a song and dance out of giving it back.

Overall, the first half of 2021 shows a 22 percent increase in the volume of phishing attacks over the same time period last year, PhishLabs reveals. The impact of phishing attacks in H1 2021 Crypto is fully in attackers' sights: This category experienced an increase of phishing attacks 10 times greater than the previous quarter in 2021.

Declan Harrington, a Massachusetts man charged two years ago for his alleged involvement in a series of SIM swapping attacks, pleaded guilty to stealing cryptocurrency from multiple victims and hijacking the Instagram account of others. Harrington was charged with Eric Meiggs in November 2019 for targeting the owners of high-value Instagram and Tumblr accounts.