Virtual Currency

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The New York Department of Financial Services (DFS) announced its first ever penalty against a cryptocurrency platform this week, with a whopping $30 million fine assessed against Robinhood Crypto, LLC (RHC) for what it described as “significant failures in the areas of bank secrecy act/anti-money laundering obligations and cybersecurity that resulted in violations of the…

It is tempting to get into the world of cryptocurrency investments. News items of early investors banking millions of dollars fuel the temptation.

But it is an investment strategy that is fraught with fraud, so investors beware.

According to the Federal Trade Commission (FTC), from the beginning of 2021 to the present day, more than…

Cryptocurrency platform Poly Network, which allows users to swap different types of digital tokens, was the victim of a cryptoheist that resulted in the thief (allegedly just one hacker) to swipe over $600 million of currency. The incident has been dubbed the largest theft of cryptocurrency to date.

The story reads like the beginning of…

After the attacks on JBS and Colonial Pipeline, the U.S. Treasury Department will likely consider increasing its enforcement of anti-money-laundering laws and adopt new reporting requirements for cryptocurrency transactions.

In ransomware attacks, hackers demand payments after locking victims out of their computer networks; de-anonymizing payments could create a disincentive for these hackers to continue pushing…

Indian news outlet Inc42 has reported that the ShinyHunters hacking group found some shiny objects when it was able to compromise the personal information of hundreds of thousands of individuals using the crypto exchange BuyUCoin.

The hackers were able to compromise and subsequently leak a BuyUCoin database that contained names, telephone numbers, email addresses, tax…

The hackers behind the Sodinokibi/REvil ransomware have reportedly switched their demands for payment from Bitcoin or Ethereum to Monero cryptocurrency to try to prevent law enforcement from tracking payments.

The hackers reportedly advertised the switch in a posting to an online hacker and malware forum, and admitted that the switch from Bitcoin to Monero is…

Stablecoin currencies such as Facebook’s Libra may pose systemic risks to the global financial system, according to a recently released Federal Reserve Report (the Fed). In its Financial Stability Report released on November 19th, the Fed states that a global stablecoin network, if poorly designed and unregulated, could pose risks to financial stability and that…