As 2024 gradually wraps up, the web3 security firm Cyvers has released a Security, Fraud, and Compliance Report for the year, detailing how much impact cybercriminals and their operations had on the crypto industry. According to an executive summary shared with CryptoPotato, in 2024, the crypto industry lost over $2.361 billion to cyber threats across...Read More
Digital assets platform Fireblocks has announced integrating Google Cloud’s Confidential Space into its offering to boost the security of customer assets. This move aims to address a crucial need for businesses to manage private keys securely. By leveraging Google Cloud’s Confidential Space, Fireblocks ensures that private keys are never fully accessible to any single party,...Read More
Over the past three years, the incidences of virtual asset-related crimes in Hong Kong have significantly increased. The cases reported amounted to 1,397, 2,336, and 3,415, involving HKD 824 million, HKD 1.704 billion, and HKD 4.398 billion, respectively, nearly tripling during this period. Law enforcement has gathered specific statistics for individual cases per the report...Read More
The EU Parliament and Council recently reached a provisional agreement on a list of anti-money laundering and anti-terrorist financing laws. Although further deliberation on other proposed measures is yet to be had, the new measures will help streamline the efforts of the national financial agencies of EU countries in this area. Although cryptocurrencies are not...Read More
A TRM Labs research has revealed that the cryptocurrency industry witnessed a downturn in hack volumes in 2023, with a more than 50% reduction compared to the previous year. Despite a consistent number of attacks, around 160, the total value stolen dropped dramatically to $1.7 billion, less than the nearly $4 billion lost in 2022....Read More
A sophisticated phishing scam involving a counterfeit Skype application has resulted in the theft of a substantial amount of cryptocurrency, according to SlowMist, a prominent blockchain security firm. The investigation has also revealed a connection to a past phishing incident that involved the same domain previously posing as Binance. Phishing App Mimics Skype in Security...Read More
Bitrace has recently unveiled a concerning trend within the Telegram coin exchange robot ecosystem, primarily involving the TRC20 USDT cryptocurrency. This trend includes a substantial number of addresses associated with gambling, money laundering, stolen coins, and fraudulent activities, which can potentially taint innocent users’ addresses and expose them to financial threats. Bitrace Research Reveals Concerns...Read More
An alliance of forty nations has united under the leadership of the United States to combat the growing threat of cybercrime. In a bold move, a high-ranking White House official introduced the International Counter Ransomware Initiative, which seeks to dismantle the financial lifelines that enable hackers to carry out their criminal activities. Forty Nations Unite...Read More
In a decisive move to counter the escalating use of cryptocurrencies in criminal activities, London’s Metropolitan Police established a 40-member team specializing in crypto investigations. The move comes as authorities express mounting concerns that digital currencies now play an ‘endemic role’ in organized crime. UK Crypto Fraud Cases Skyrocket Since its inception in May, the...Read More
Have you ever shopped using cryptocurrency? A cashless transaction always comes in handy. Just walk up to the billing counter, brandish your crypto details and be done with it. More and more stores and websites are implementing crypto payment for users’ flexibility. Well, every coin has two sides, isn’t it! Likewise, shopping with crypto has...Read More
Since crypto has grown in popularity, there have been many notable hacks that targeted the industry’s exchanges, wallets, and users. Even if crypto security has come a long way, will 2020 be the year when all users will be worry-free of hackers and attacks? Cryptography is considered the fundamental basis of informational security, but it...Read More
