Leveraging Knowledge to Manage Your Data Risks
It has been reported by Troy Hunt, the security researcher who provides the “Have I Been Pwned” free breach notification service, that 1.4 million passwords and personal information of customers of GateHub, a cryptocurrency wallet service provider, and 800,000 customers of EpicBot gaming bot provider RuneScape are for sale on the web.
According to Hunt,…
As cryptocurrency becomes more popular with investors, CipherTrace recently issued its Q2 2019 Cryptocurrency Anti-Money Laundering Report, which finds that “[O]utright thefts as well as scams and other misappropriation of funds from cryptocurrency users and exchanges continued apace, netting criminals and fraudsters approximately $4.26 billion in aggregate for 2019.” Yikes—that’s billion with a “b”.
The…
The U.S. government continues to be wary of cryptocurrency, and presently, no cryptocurrency exchange is protected by the FDIC. When you put your money in a FDIC-insured bank, if the bank becomes insolvent customers will not lose their deposits, usually up to a maximum of $250,000 per depositor per insured bank. But if you deposit…
In a contentious move, the Securities and Exchange Commission (SEC) recently sued Kik Interactive Inc. for its Initial Coin Offering of $100 million, alleging it violated securities laws by not registering the offering with the SEC.
The SEC alleges that the fundraising of $100 million was illegal because it did not provide proper disclosures to…
The Financial Crimes Enforcement Network (FinCEN) is the U.S. Treasury Department bureau charged with monitoring financial transactions in order to combat domestic and international money laundering, terrorist financing, and other financial crimes.
Under FinCEN’s Bank Secrecy Act/Anti-Money Laundering regulations, money transmitters and other money service businesses are required to develop anti-money laundering/countering the financing of…
The Financial Stability Board issued its Crypto-assets regulators directory on April 5, 2019, in anticipation of this week’s upcoming G20 Meeting. The directory contains a listing of the regulatory and standard-setting bodies in each FSB jurisdiction having responsibility for the supervision of crypto-assets and the enforcement of relevant legal and regulatory requirements. The directory will…
New malicious malware dubbed “Gustuff” targets big banks, fintech companies and cryptocurrency apps, according to the security firm Group IB.
According to Group IB, which discovered Gustuff on hacker forums, the new malware is affecting Android devices and is “a mobile Android Trojan, which includes potential targets of customers in leading international banks, users of…
A scary scheme by hackers recently successfully lifted Bitcoin from Electrum wallet owners to the tune of approximately $750,000.
The scheme worked like this: the attackers added anywhere between 33 and 50 malicious servers to the Eletrum wallet network. When legitimate owners of Electrum Bitcoin wallets initiated a Bitcoin transaction after December 21, 2018, if…
New Year’s is a time to look back on the happenings of the year and focus on the lessons and reminders those events have provided. As our last set of bulk posts for the year, we’d like to share with you our top 10 most read posts in 2018.
…
United American Corp., operating as UnitedCorp, filed a lawsuit in the United States District Court for the Southern District of Florida last Thursday alleging that several prominent figures in the Bitcoin cryptocurrency market essentially “hijack[ed] the Bitcoin Cash network” causing widespread harm to U.S. Bitcoin holders. In the twenty-seven page, and one hundred and twenty-two paragraph complaint, UnitedCorp takes aim at bitcoin miner Bitmain Inc. and its owner Jihan Wu, well-known bitcoin investor Roger Ver and his company Bitcoin.com, and the Kraken Bitcoin Exchange, among others, claiming that they attempted to “centraliz[e] what is intended to be a decentralized transactional system enabling the corruption of the democratic and neutral principles of the Bitcoin Cash network.”
Continue Reading Bitcoin Firm Alleges Manipulation of the Bitcoin Cash Network that is Alleged to Have Resulted in a $4 Billion Industry Meltdown
