The Justice Department has charged five individuals with running a high-tech Ponzi scheme that allegedly fleeced investors out of $722 million by falsely promising clients big returns as part of a cryptomining operation.
The U.S. Federal Reserve is warning that the increasing use of cryptocurrencies known as "stablecoins," without proper safeguards and regulations, could pave the way for crime, including money laundering and terrorism financing.
The notorious Joker's Stash cybercrime marketplace, which specializes in selling stolen payment card data, has a new listing for 1.3 million credit and debit cards, almost all of which appear to have been issued by Indian banks, reports threat intelligence firm Group-IB.
A U.S. Congressional committee on Wednesday peppered Facebook CEO Mark Zuckerberg with tough questions about the company's plans for a cryptocurrency called Libra, raising concerns about privacy issues as well as potential use of the currency for money laundering or to finance deals for illegal drugs and weapons.
Security researchers have found that a hacking group, which may have North Korean ties, recently created a phony company offering a cryptocurrency exchange platform as a step toward planting malware on the macOS devices of employees of cryptocurrency exchanges.
The not-for-profit Libra Association, which would govern Facebook's new Libra cryptocurrency, launched Monday despite Visa, MasterCard and others dropping their participation. Meanwhile, Facebook CEO Mark Zuckerberg is scheduled to testify before Congress next week to address concerns about the project.
A Singapore man allegedly ran a large-scale cryptocurrency mining scheme that involved using stolen identities to access Amazon and Google cloud computing resources, according to a 14-count U.S. Justice Department indictment.
British police have auctioned off bitcoins and other cryptocurrencies seized from a U.K. teenager who participated in the hack of the London-based telecommunications firm TalkTalk in 2015. The auction netted $294,000, which will be used by law enforcement to help fund crime-fighting efforts.
More proof that when it comes to crime, there's nothing new under the sun: Federal prosecutors have charged two men with attempting to extort cryptocurrency worth more than $12 million from a startup firm planning to undertake an initial coin offering, in part via physical intimidation.
U.K. authorities are attempting to seize more than $1.1 million in cryptocurrency from a notorious British hacker who carried out attacks that targeted more than 100 companies over a two-year period, according to the Metropolitan Police Service. The currency will be sold, with proceeds used to compensate victims.
At a Senate committee hearing on Tuesday, lawmakers grilled a Facebook executive about the company's plans to launch a cryptocurrency. One Democratic senator said Facebook "does not respect the power of the technologies they are playing with - like a toddler who has gotten his hands on a book of matches."
Six suspects have been arrested as part of a 14-month international police probe into the theft of at least $28 million worth of bitcoin cryptocurrency from more than 4,000 victims in at least 12 countries. Investigators say attackers appear to have "typosquatted" legitimate bitcoin exchange sites.
The latest edition of the ISMG Security Report analyzes the security and privacy implications of Facebook's new digital currency - Libra. Also featured: Discussions on the rise of machine learning and IT and OT collaboration on cybersecurity.
With Facebook now officially preparing to launch its own cryptocurrency, Libra, in 2020, the social media giant is facing a privacy and security backlash both in the U.S. and Europe. Lawmakers and regulators are raising concerns about the offering based on the company's poor history of protecting user data.
Regulators from government ministries, as well as law enforcement authorities, are considering a ban in India on the sale, purchase and issuance of all types of cryptocurrencies, including Bitcoin, according to news reports.
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