cyber theft News

UK Markets Regulator Warns of Dangers of Unregulated Cryptocurrencies

Britain’s markets watchdog said on Wednesday that bitcoin and other cryptocurrencies have no intrinsic value and offer consumers few protections, but added that such coins fall outside the scope of its powers. The Financial Conduct Authority said crypto markets were …

Hackers Steal 7,000 Bitcoins Worth $40M from Cryptocurrency Exchange Binance

Binance, one of the world’s largest cryptocurrency exchanges, said hackers withdrew 7,000 Bitcoins worth about $40 million via a single transaction in a “large scale security breach,” the latest in a long line of thefts in the digital currency space. …

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 Industry Struggles to Buy Insurance, Hindering Growth Goals

Cryptocurrency exchanges and traders in Asia are struggling to insure themselves against the risk of hacks and theft, a factor they claim is deterring large fund managers from investing in a nascent market yet to be embraced by regulators. Getting …

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 …

Mastermind Behind ATM Malware Attacks Arrested in Spain

The mastermind behind malware attacks that programmed ATMs to spit out cash on demand and caused more than 1 billion euros ($1.2 billion) of losses, has been arrested in Spain. The leader of a criminal gang that carried out the …

Coincheck Will Start Compensating 260,000 Victims of $500M Cryptocurrency Heist

Coincheck Inc. said it will start compensating users who had their cryptocurrency stolen beginning as soon as next week, as the Japanese exchange seeks to resume more of its operations. All of the 260,000 users impacted by the theft of …

With 4,000 Ransom Attacks a Day, Cyber Crime Threatens Financial Sector: Europol

The “remorseless” growth of cyber crime is leading to 4,000 ransom attacks a day and gangs’ technological capability now threatens critical parts of the financial sector, the head of Europol said on Wednesday. Online criminals have become so sophisticated that …

Hacker Convicted in California of Breaking into More Than 100K Amex Accounts

A federal jury in Sacramento, Calif. has convicted a hacker accused of breaking into more than 100,000 of American Express accounts and handing off funds to Russia. The Sacramento Bee reported that 37-year-old Mihran Melkonyan on Tuesday was found guilty …