In the latest weekly update, four editors at Information Security Media Group discuss key takeaways from ISMG's recent Government Summit, how hackers siphoned nearly $200 million from cryptocurrency bridge Nomad and how midsized businesses are the new frontier for ransomware.
The U.S. Department of Justice unsealed its first insider trading case involving cryptocurrency markets, marking an escalation of traditional oversight. The case comes as a federal jury convicted a New York man for defrauding investors who bought into his supposed cryptocurrency.
Hackers used a vulnerability in NFT collection platform Premint to steal more than 300 blockchain entries, netting more than $421,000 in stolen proceeds, all has been deposited into Torando Cash. The incident is among the largest NFT thefts this year. Some Premint users also saw a Rickroll.
The Twitter and YouTube accounts of the British Army were briefly taken over on Sunday evening by unidentified hackers who posted content related to cryptocurrency and NFTs. The situation has now been resolved, but the U.K. Ministry of Defense says the investigation is ongoing.
The U.S. Department of Justice is touting a string of indictments against accused cryptocurrency and NFT fraudsters, including against a Vietnamese man who is allegedly behind the Baller Ape rug pull, the largest such NFT fraud to date. Rug pulls are the largest form of cryptocurrency-based crime.
Cryptocurrency experts are fingering North Korea as likely responsible for the cryptocurrency theft of $100 million from the Harmony Horizon bridge. North Korea fuels its nuclear weapons program with stolen cryptocurrency used to dodge international sanctions that prevent ready access to cash.
Billions of dollars have already been lost in crypto exchanges, and some of the some losses have been due to "basic" security failures, including third parties not implementing common controls, says Troy Leach, security executive in residence at Cloud Security Alliance.
The FBI says in an alert that scammers have been posing as Ukrainian entities to fraudulently seek donations and other financial assistance for the war-torn country. The agency says scammers in the past have also used crises as opportunities to cash in with fraudulent donation schemes.
Police in Nigeria this week arrested a 37-year-old man who's been charged with masterminding "a criminal syndicate tied to massive business email compromise and phishing campaigns," Interpol says. But with known BEC losses last year exceeding $2.4 billion, will the arrest have a noticeable impact?
Financial services firms lose an average of $18.5 million per year through malicious activity like leaked credentials, payment fraud, money laundering, fake account registration, loyalty abuse, and more. Fraud prevention depends on effective intelligence gathering, and few firms have the tools or personnel to...
In this edition, Ari Redbord and Grant Schneider join ISMG editors to discuss the challenges ahead for the U.S. government as it plans to roll out EDR deployments at more than half of federal agencies this year, how stable the stablecoin economy really is and how to improve industry collaboration.
There has been a rise in crypto fraud, and a substantial portion of it can be attributed to stimulus funding and paycheck protection programs, says David Britton, vice president of strategy, global ID and fraud at Experian. He discusses new authentication methods and stricter regulations.
The new Expel Quarterly Threat Report provides data on what we’re seeing,
detection opportunities, and resilience recs to help protect your organization.
We’ll dive into the trends in this report, based on incidents the Expel security
operations center (SOC) team identified through investigations into...
Criminals are doubling down on their use of information-stealing malware, such as Cryptobot, RedLine Stealer and QuilClipper, to steal private keys and siphon off cryptocurrency being stored in internet-connected hot wallets or to raid cryptocurrency holders' online exchange accounts.
The Association of Certified Fraud Examiners, or ACFE, has released its study titled "Report to the Nations." Mason Wilder, research manager at the ACFE, shares some important findings from the report and discusses how occupational fraud is reported and which organizations are affected by it.
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