06 Jun 2022

How crypto giant Binance became a hub for hackers, fraudsters and drug traffickers

In September 2020, a North Korean hacking group known as Lazarus broke into a small Slovakian crypto exchange and stole virtual currency worth some $5.4 million. It was one of a string of cyber heists by Lazarus that Washington said were aimed at funding North Korea’s nuclear weapons programme. Several hours

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03 Jun 2022

Reports show scammers cashing in on crypto craze

From Super Bowl ads to Bitcoin ATMs, cryptocurrency seems to be everywhere lately. Although it’s yet to become a mainstream payment method, reports to the FTC show it’s an alarmingly common method for scammers to get peoples’ money. Since the start of 2021, more than 46,000 people have reported losing

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31 May 2022

A $90 million DeFi exploit on Terra went unnoticed for seven months

Mirror Protocol appears to be under attack and may have already lost as much as $2 million. The frequency of DeFi hacks has made them almost commonplace in the cryptoverse. However, what is certainly unusual is DeFi protocol exploits worth $90 million going unnoticed for seven months – and yet, that

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26 May 2022

Everything You Need to Know About Crypto Insurance

Cryptocurrency is the most exciting and unpredictable financial frontier in today’s world. The opportunities for crypto-based businesses are enormous, but so are the attendant risks. Protecting you from these downfalls is what crypto insurance is all about. Although it will safeguard your business from cybercriminals, it will also give your

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26 May 2022

Sen. Gary Peters Issues Report on Use of Cryptocurrency in Ransomware Attacks

Sen. Gary Peters, D-Mich., chairman of the Senate Homeland Security and Governmental Affairs Committee, has released a report saying the federal government lacks sufficient information on ransomware attacks and the use of cryptocurrency in ransom payments. The report also found that current reporting of such attacks is fragmented across federal agencies

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24 May 2022

Whistleblower claims DoKwon, Kanav Kariya and Sam Bankman-Fried were involved in Terra’s LUNA and UST collapse

Whistleblowers from the Terra community have made allegations that some of the most prominent figures in the cryptocurrency industry, like FTX CEO Samuel Bankman-Fried and Jump Crypto CEO Kanav Kariya, were responsible for TerraUSD’s (UST) colossal crash and de-peg. Whistleblowers in the Terra community have come forward with details of an

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24 May 2022

These are the flaws that let hackers attack blockchain and DeFi projects

The number of decentralized finance (DeFi) and blockchain projects grew massively during the past year, but their increased popularity has also piqued the interest of cyberattackers – who managed to steal at least an estimated $1.8 billion in 2021. The blockchain is a digital ledger that records transactions in a

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23 May 2022

Multiple NFT Projects Attacked After Commonly-Used “Mee6” Discord Bot Hacked

A Discord bot widely used by NFT projects, most notably the very popular (and very recently breached) game Axie Infinity, was compromised leading to scam messages being passed to users. A hack of the “Mee6” bot used to moderate Discord channels led to scam messages being passed in these communities,

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20 May 2022

Collapse of Luna cryptocurrency leads to $11 million exploit on Venus Protocol

Venus Protocol, a decentralized money market, announced on Thursday evening that about $11 million had been lost due to people exploiting the historic collapse of the Luna cryptocurrency and its sister stablecoin UST. The team behind the Venus Protocol released a statement confirming suspicions that had been floating around for hours

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16 May 2022

Crypto is crumbling, and DeFi hacks are getting worse

Until recently, DeFi seemed like it was on an exponential trajectory upwards. With the collective value of crypto peaking near $3 trillion, hackers saw a big opportunity. The only thing that may slow them down is the precipitous drop in the value of the tokens they’re going after. DeFi hacks have

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