Articles by Gertrude Chavez-Dreyfuss

Cryptocurrency Fraud Losses Surge to $4.4 Billion: CipherTrace Report

Cryptocurrency theft has surged in 2019 compared with last year, with more money flowing through digital exchanges and criminals looking to carry out bigger heists, according to a report from blockchain forensics company CipherTrace obtained by Reuters. Losses from digital …

New IBM Blockchain Network Manages Supply Chain Including Insurance

International Business Machines Corp. announced on Monday a new blockchain network aimed at improving manual and cumbersome supply chain management. Supply chain management involves overseeing the flow of goods and services, such as tracking the movement and storage of raw …

Losses from Cryptocurrency Thefts, Fraud Surged to $1.2 Billion in Q1: Report

Losses from the theft of cryptocurrencies from exchanges and fraud-related activities surged in the first quarter of the year to $1.2 billion, or 70 percent of the level for all of 2018, cyber-security firm CipherTrace said on Tuesday. The value …

Thefts, Scams of Cryptocurrencies Surge 400% to $1.7 Billion in 2018

Cryptocurrencies stolen from exchanges and scammed from investors surged more than 400 percent in 2018 to around $1.7 billion, according to a report from U.S.-based cyber security firm CipherTrace released on Tuesday. Of the $1.7 billion, the report, which looks …

Cryptocurrency Theft Soars to $927 Million During 1st Nine Months of 2018: Report

Theft of cryptocurrencies through hacking of exchanges and trading platforms soared to $927 million in the first nine months of the year, up nearly 250 percent from the level seen in 2017, according to a report from U.S.-based cyber security …

Investor Sues AT&T Over Cryptocurrency Theft

U.S. entrepreneur and cryptocurrency investor Michael Terpin filed a $224 million lawsuit on Wednesday against telecommunications company AT&T, accusing it of fraud and gross negligence in connection with the theft of digital currency tokens from his personal account. In a …

More Hackers Target Red-Hot Cryptocurrency Space: Report

Bitcoin’s popularity and the emergence of about 1,500 other digital coins or tokens have drawn more hackers into the red-hot cryptocurrency space, expanding opportunities for crime and fraud, cyber security firm Digital Shadows warned in a report on Thursday. “Cyber …

New York Grants Charter to Winklevoss-Backed Bitcoin Exchange

Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, has been granted a license to operate as a chartered limited liability trust company by the New York State Department of Financial Services, the state regulator announced on Monday. Under …

Former New York DFS General Counsel Alter Joins itBit for Compliance Role

Bitcoin exchange itBit has hired Daniel Alter as the company’s new general counsel and chief compliance officer, the firm announced on Wednesday. Alter, who spent three years as general counsel to the New York State Department of Financial Services (DFS), …

Florida Jury’s $23.6B Tobacco Award Likely to Be Reduced

A decision by a Florida jury to impose punitive damages of $23.6 billion against R.J. Reynolds Tobacco Co. on Friday is likely to be rejected on appeal or the award reduced substantially, lawyers with expertise in jury awards said on …