13 Jan 2021

RG Coins cryptocurrency exchange owner lands 10 years behind bars for money laundering

Rossen Iossifov was the Bulgarian owner of RG coins and has been sentenced to 10 years in prison. He was sentenced after his actions of laundering millions of dollars from defrauded victims. The stolen money was converted to cryptocurrency and moved through cryptocurrency exchanges to hide the source of the

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05 Jan 2021

Federally Chartered Banks and Thrifts May Participate in Independent Node Verification Networks and Use Stablecoins for Payment Activities

Yesterday, the Office of the Comptroller of the Currency (OCC) released a letter stating that national banks’ and federal savings associations’ had the authority to participate in independent node verification networks (INVN). The letter also clarifies that these entities can use stablecoins to conduct payment activities and other bank-permissible functions.

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30 Dec 2020

Coinbase to Suspend XRP Trading Following SEC Suit Against Ripple

On Tuesday, January 19 cryptocurrency trading firm Coinbase plans to fully suspend trading of XRP, the currency in which the US Securities and Exchange Commission sued Ripple Labs over last week. Coinbase first listed XRP on its retail platforms in February of this year. However, after just under a year

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28 Dec 2020

Russian crypto-exchange Livecoin hacked after it lost control of its servers

On December 24, Russian cryptocurrency exchange Livecoin released a post stating that they had been the target of a cyberattack leading to loss of control over some of its servers. The warning advises customers to temporarily refrain from using its services, including depositing funds, making trades, and using API. The

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01 Dec 2020

Vietnamese State Hackers Deploy Coin Miners to Victims

According to a report released by Microsoft, Vietnamese state hackers have been deploying cryptocurrency mining malware to turn a profit off of the networks of organizations they are spying on. One group in particular was observed using this tactic, APT32. This group has been associated with several sophisticated cyber espionage

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23 Nov 2020

GoDaddy staff fall prey to social engineering scam in cryptocurrency exchange attack wave

GoDaddy employees have allegedly fallen victim to a series of social engineering phishing scams that led them to facilitate attacks on multiple cryptocurrency exchanges. The scam duped employees into changing email and registration records which were then used by cyberattackers to launch attacks on other organizations. The incident was reported

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14 Oct 2020

Lemon Duck Cryptocurrency-Mining Botnet Activity Spikes

Researchers have been monitoring a spike in the cryptocurrency mining botnet Lemon Duck, occurring since this August. The Lemon Duck botnet is a complex mining botnet that has the capability to tap into victims’ computer resources and mine the Monero virtual currency. Researchers warn that although the botnet has been

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09 Oct 2020

US unveils enforcement framework to combat terrorist, criminal cryptocurrency activities

The US has created a framework for how criminal usage of blockchain technology should be dealt with on behalf of the government. Although the possibilities of blockchain are considered to be some of the best recent technological developments, the dark side of this is that cybercriminals often rely on them

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10 Sep 2020

IRS Wants to Be Able to Trace ‘Untraceable’ Digital Currencies

The Treasury Department reportedly is investigating potential ways to trace currency that is known as untraceable, seeking to expand its visibility into cryptocurrency transactions. These transactions enable anonymity and allow for more privacy between the parties involved than most other blockchain-based exchanges. Cryptocurrency is transmitted virtually through a decentralized digital

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31 Aug 2020

DoJ Aims to Seize 280 Cryptocurrency Accounts Used by Hackers

The Department of Justice is allegedly looking to seize 280 illegal cryptocurrency accounts that may have been used by North Korean government-backed hackers to launder millions in stolen funds through a Chinese network. The DoJ filed a civil forfeiture complaint against North Korea on Thursday, signifying the first move of

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