When the DOJ announced a "major, international cryptocurrency enforcement action," observers expected to see charges against a well-known firm. Instead, the agency charged a lesser-known figure, Anatoly Legkodymov, the Russian founder of Bitzlato, with facilitating $700 million in illegal activity.
Cybersecurity researchers say a Chinese for-profit threat group tracked as 8220 Gang is targeting cloud providers and poorly secured applications with a custom-built crypto miner and IRC bot. The malware can slow system performance, drive up costs and expose systems to security risks.
Authorized payment scams are growing, and regulators, lawmakers and banks are taking note. As some banks look at ways to reimburse customers for Zelle scams in 2023, experts expect technology vendors to focus on creating new solutions to detect scams and prevent such payments from being made.
Personal information for more than 1.3 million Aflac cancer insurance policyholders and almost 760,000 Zurich Insurance auto insurance policyholders in Japan has been leaked on the dark web following hacks on a third-party contractor. Affected individuals from both hacks reside in Japan.
Check fraud, first-party fraud and AI-related fraud will increase on a massive scale in 2023, thanks in large part to growing insider threats and the global economic slowdown. Frank McKenna, chief fraud strategist at Point Predictive, explains how banks can prepare to tackle these types of scams.
U.S. authorities in New York arrested a 24-year-old French national residing in the United Arab Emirates and charged him with defrauding buyers of Mutant Ape Planet NFTs, a type of digital asset, saying he defrauded investors out of more than $2.9 million.
A financially motivated threat actor called Blind Eagle returned from its hiatus and is conducting an ongoing campaign directed at Spanish-speaking targets in the banking industry in Colombia and Ecuador. The hacking group appears to have updated its tools and infection chain.
The U.S. attorney in New York has established a task force to trace and recover funds missing from FTX and manage probes related to the firm's collapse. The team comprises prosecutors with expertise in securities and commodities fraud, money laundering and asset forfeiture and cybersecurity.
Posing as leading banks, the North Korea-backed BlueNoroff group is evading Microsoft Windows' Mark of the Web security measure to help infect machines with malware. Hackers are refining their techniques for bypassing MOTW, which warns users when they try to open a file downloaded from the internet.
U.S. law enforcement arrested and charged the hacker who exploited Mango Markets with fraud and market manipulation. The man earlier claimed that the $110 million hack on the decentralized finance platform had been merely a "highly profitable trading strategy."
An Ohio software developer that attempted to use business insurance to pay for a 2019 ransomware attack was stymied by the Ohio Supreme Court. The justices unanimously decided for Owners Insurance Company against greater Dayton-based EMOI, writing that the developer didn’t experience physical loss.
Data management, supply chain assurance and regulatory evolution are among the topics touched upon in this look at the year ahead with Troy Leach, chief strategy officer of the Cloud Security Alliance. Find out what trends Leach is watching and the predictions he makes for 2023.
Web3 companies are under attack by cybercriminals all year. After a compromise occurs, how should organizations respond? In Part 2 of this interview, Martin Derka of Web3 security firm Quantstamp discusses short-term and long-term mitigation steps and how to defend against cryptocurrency theft.
Before the newly spotted AxLocker ransomware crypto-locks systems, it steals Discord tokens, which can be sold on cybercrime markets. Among Discord's many users are cryptocurrency and NFT enthusiasts, and experts say the stolen credentials facilitate attempts to socially engineer them.
Banks are getting better at catching a wide range of scams targeted at customer accounts, but they are still struggling with stopping authorized payment fraud through peer-to-peer payment companies such as Zelle, says David Pollino, former divisional CISO with PNC Bank.