Hack

Just like any other businesses have risks, the cryptocurrency investment is not an exception. There is a big number of fraudulent projects that take advantage of the cons of the cryptocurrency industry. These vulnerabilities make it easier to attract people, and then leave them without their funds.

There are some kinds of cyberattacks that blend in the ordinary network activity, so they are very easy to miss. How should an organization protect oneself against them?

Global digitization and coronavirus pandemic have created the need for innovative solutions to replace some traditional ones. Digital identification (ID) is one of such significant solutions trending in the world.

Blockchain technology is considered to be secure and immutable due to its decentralized nature. But as it becomes more popular with new solutions popping up almost daily, hackers become inventive enough to find vulnerabilities and attack it.

The Political Affairs Committee of South Korea’s National Assembly has informed the Financial Services Commission (FSC) on numerous attempts of hackers to break into the country’s financial institutions. Cryptocurrency exchanges became the main target.

Hackers use Binance cryptocurrency exchange to launder stolen money. As per the report by the federal Bureau of Investigation (FBI), a principal federal law enforcement agency, ransomware dubbed Ryuk has been used since its creation in 2018 to steal cryptocurrency worth $61 million.

Japanese police are going to confiscate cryptocurrency funds stolen during the Coincheck hack. If successful, this will be the first digital currency confiscation of the kind in the country.

Australia passes the first sentence related to cryptocurrency theft, proving that law enforcement is gearing up to govern the digital currency and blockchain industry.

On July 31, the architect of the infamous Twitter hack was arrested by the US police. It is a 17-year-old teenager from Florida with a good track record of other scams.