04 Jul 2022

Crypto hacks are declining in numbers but increasing in damage

Cryptocurrency hacks have been significantly decreasing in numbers since the beginning of the year. According to the latest research from BestBrokers, the industry saw 64 security breaches by mid-June — a sharp decline from last year’s 251 hacks. However, while the number of successful hacks has been decreasing, the damage they’ve

Read More
28 Jun 2022

What is a Cryptocurrency Crime, and How Does it Affect Trading

Cryptocurrency crime is as sinister and upsetting as most financial crimes. The crimes that are perpetrated range from ordinary theft of cryptocurrency to money laundering and market to market fraud. Investors and consumers are subject to phishing and scams, where they are instructed to send cryptocurrency to a specific location

Read More
14 Jun 2022

There’s a new plan to regulate cryptocurrencies. Here’s what you need to know

Things change fast in the world of crypto. Prices were at dizzying heights in November, and then came the crash. In just a couple of weeks in May, cryptocurrencies lost more than half a trillion dollars in market value. The most spectacular implosion was a cryptocurrency called TerraUSD. It was a stablecoin

Read More
13 Jun 2022

Expanding SEC’s Crypto Assets and Cyber Unit Is Essential – But There Are Potential Risks

The SEC recently announced that it was doubling the size of its unit which deals with cryptocurrency assets. It plans to increase the footprint of the unit to reach 50 agents. The unit was first launched in 2017 and since then, has brought forward over 80 enforcement actions, mostly related

Read More
06 Jun 2022

Yuga Labs Confirms Discord Server Hack; 200 ETH Worth of NFTs Stolen

The Bored Ape Yacht Club (BAYC) Discord server was hacked Saturday, with the attacker making off with 200 ETH ($360,000) worth of non-fungible tokens (NFT), according to Yuga Labs. The hack took place after the project’s community manager, Boris Vagner, had his Discord account compromised, which the attacker then used

Read More
01 Jun 2022

Four cryptocurrency cybersecurity risks and how to avoid them

Cryptocurrency is a digital asset that can circulate without monetary authority like a government or bank. It’s an alternative form of payment created using cryptographic techniques that allow people to buy, sell, or trade digital currency. Since exchange rates are highly volatile, cryptocurrency has the potential to yield significant returns

Read More
25 May 2022

Crypto Hacks Aren’t a Niche Concern; They Impact Wider Society

The attack against the Ronin Network in March was quickly speculated to be one of the largest cryptocurrency hacks of all time. Approximately $540 million was stolen from the cryptocurrency and NFT games company in a combination of USDC and Etherium, with $400 million of the stolen funds owned by

Read More
19 May 2022

Axie Infinity hack highlights DPRK cryptocurrency heists

Despite how enormous it was, the Axie Infinity heist marked only the latest chapter in the story of North Korean financial cybercrime. Sky Mavis, the developer of popular nonfungible token (NFT) video game Axie Infinity, lost hundreds of millions of dollars in assets when they were stolen by hackers on March

Read More
16 May 2022

Time’s Up: Cryptocurrency Has Become a National Security Issue

Rather than issuing largely symbolic sanctions on North Korea whenever there is a major Pyongyang-affiliated hack, U.S officials should focus their efforts on regulating the entire cryptocurrency industry. Last month, the FBI announced that North Korean hackers had stolen more than $600 million in cryptocurrency from an online gaming company,

Read More
09 May 2022

How Big Is Crypto Crime, Really?

The European Union is in late-stage talks over how to implement new rules intended to curb dodgy behavior that uses virtual assets – but estimates of the share of crypto payments linked to financial crime vary wildly from 0.15% to a whopping 46% of transaction volumes. There’s clearly a lot

Read More