How to Prevent Crypto Theft - And Whom to Blame When It Does Happen

https://cryptonews.com/tags/microsoft/">Microsoft, Expedia, Shopify, Etsy, Phillipp Plein, Whole Foods (owned by Amazon),

AT&T Sued by Customer After Security Breach Led to Theft of Cryptocurrency

An AT&T customer filed a lawsuit against the company last week accusing it of failing to provide “reasonable and appropriate security to prevent unauthorized access to its customer wireless accounts.” This has led to the theft of cryptocurrency from the plaintiff’s crypto exchange account. AT&

Nifty News: Nafty launches naughty NFT site, Dutch DJ pushes limits of physical NFTs

Nafty has launched an erotic-themed NFT marketplace, while DeviantArt is tracking down art theft on NFT marketplaces, and the Rugby League World cup is dropping NFT collectib NFT NSFWNafty, a blockchain firm that produces decentralized NSFW platforms —such as OnlyFans competitor Nafty.TV — launched an erotic-themed NFT marketplace dubbed “NaftyArt” today.

Legalized Theft: Police Seize $87,000 From Former Marine but Don’t Charge Him With a Crime

A recently published report that went viral across social media details how a former US Marine, Stephen Lara, was pulled over by police and was suspected of being a drug trafficker.

Mining Hardware Thief Gets 3-Year Sentence in Russia

Russian authorities have investigated a number of cases involving the theft of crypto mining equipment in the past months.

Netcoins.ca Renews Commitment to Security in Wake of Major Bitcoin Theft

August 25, 2021 – Vancouver, Canada In light of recent news stories Netcoins.ca (Netcoins) has renewed its efforts to provide the most secure cryptocurrency transactions.

Netcoins.ca Renews Commitment to Security in Wake of Major Bitcoin Theft

[PRESS RELEASE – Vancouver, Canada, 25th August 2021] In light of recent news stories, Netcoins.ca (Netcoins), has renewed its efforts to provide the most secure cryptocurrency transactions.

Poly Network hacker returns less than 1% of the $600M theft

The returned sum represents only a minor portion of the over $600 million stolen from Poly Network. These transfers have occurred across the three wallets associated with the Poly Network hacker across the Ethereum, Binance Smart Chain (BSC) and Polygon networks.

Binance Coin: Why traders should prepare for this move

The crypto industry was left rattled by a recent tweet published by Poly Network which identified a $600 Million theft from its system.

Man Sentenced to 8 Years in Prison for Stealing Nearly $7 Million of Crypto in Israel

Afek Zard, a resident of Israel, has been sentenced to eight years in prison for embezzling a large sum of cryptocurrency that belonged to a friend of his.

UK-based independent legal team to tackle international crypto disputes

The CFAAR network hosts practitioners that have experience in handling some of the early crypto-related disputes in the British court system. Crypto experts across the United Kingdom’s legal industry have announced the launch of the Crypto Fraud and Asset Recovery (CFAAR) network, aimed at providing redressal against crypto-related fraudulent activities. The group includes a diverse range of professionals such as “lawyers, barristers, forensic accountants, corporate intelligence and asset recovery experts.”The launch of the CFAAR network is attributed to the rise in fraudulent activities involving theft, initial coin offerings and ransomware attacks.

Ex-Monero Developer 'Fluffypony' Has Been in Jail For Two Weeks Over Theft at Cookie Company

Riccardo Spagni is accused of committing invoice fraud during his time at Cape Cookies.

ASX sounds crypto exchange custody warning, calls for better regulations

The Australia Securities Exchange says crypto investors in the country need to be mindful of the dangers of holding their cryptocurrencies on exchange platforms. The Australia Securities Exchange (ASX) has weighed in on the issue of crypto custody amid the ongoing discussions within the country’s Senate Select Committee on Financial Regulatory Technology.In a submission to the committee on July 16, ASX highlighted crypto custody on centralized exchanges as a significant risk factor for investors.The ASX submission outlined the implications of crypto exchange custody arguing that investors do not have access to their private keys while their funds are domiciled in these platforms — another way of saying “not your keys, not your coins.”According to the ASX, crypto funds left on exchange wallets are vulnerable to cybersecurity risks in the form of theft by hackers.

Ukraine’s ‘Largest Illegal’ Mining Facility May Have Been a FIFA Bot Farm

A data center busted by Ukrainian law enforcement this month for suspected electricity theft may have had a purpose different from mining cryptocurrencies.

Ukraine Uncovers Country’s Largest Illegal Mining Farm to Date

The Security Service of Ukraine (SBU) has located a massive coin minting facility that was illegally connected to the power grid in Vinnytsia.

Africrypt turns sour on investors: Founders flee as court cases build up

Africrypt founders are still on the run as investors turn to legal action to try to recoup funds lost in South Africa’s latest cryptocurrency theft scandal. Two South African brothers are facing mounting pressure to come forward to authorities as investigators delve into one of the biggest cryptocurrency thefts in the country.Raees and Ameer Cajee are central figures in the now infamous Africrypt cryptocurrency investment scheme saga.

Thailand's central bank warns against using digital currencies for payments

The BOT said it may be forced to coordinate with the Securities and Exchange Commission to ensure crypto payments do not pose "extensive risks to the general public or the economic and financial system." The Bank of Thailand has issued a warning to crypto holders who use their digital assets as a medium of exchange, saying if these practices become widespread it may take strong regulatory measures.In a Thursday statement, the central bank said anyone who engaged in the trade of digital assets for goods and services, as the sender or recipient, could face risks including money laundering, theft, and price volatility.

Your keys, his coins — Cryptopia employee admits to stealing $172K in crypto

The theft was first discovered in September and was not yet connected to the crypto exchange going into liquidation the previous year. A former employee of the now-defunct cryptocurrency exchange Cryptopia has pleaded guilty to the theft of roughly $172,000 in cryptocurrency he obtained by making a copy of users’ private keys.According to a Monday report from New Zealand news outlet Stuff, the unnamed Cryptopia employee pleaded guilty in Christchurch District Court to the theft of more than $1,000 and theft “by a person in a special relationship” — referring to cases when a person takes funds held in trust from someone else.

Stablecoin insurance firm Bridge Mutual to protect against possible Tether depegging

Years of regulatory uncertainty around Tether could be offset by newfound investor confidence if an emerging insurance protocol for USDT gains traction. While the value of stablecoins like Tether (USDT) and USD Coin (USDC) is designed to be pegged to another asset, such as the US dollar, the crypto industry has fretted for years about the possibility of a major depegging — especially amid US regulatory concerns about Tether, which has a current market capitalization of over $63 billion.Now one company intends to provide discretionary coverage for investors against that scenario — and Tether itself is backing the play.Bridge Mutual aims to mitigate the risk of loss of funds resulting from hacked or exploited smart contracts, exchange hacks or theft, price crashes in stablecoins, and other digital asset vulnerabilities.Stablecoin insurance is uncomplicated in principle.

Grand Theft Auto 6 to Feature a Fictional Cryptocurrency

One of the biggest franchises in the videogame industry, Grand Theft Auto, will feature in-game payments of “bitcoin” or another fictional cryptocurrency.

Is Bitcoin Coming to Grand Theft Auto 6? New Rumors Set Crypto Twitter Ablaze

A popular video game leaker says that a Bitcoin-like cryptocurrency could be coming to the in-game economy of the next Grand Theft Auto (GTA) installment.

Grand Theft Auto 6 Rumored To Have an In-Game Version of Bitcoin

The much anticipated next installment of the Grand Theft Auto series might feature a crypto angle. 

'In Five Years, Will Cryptocurrency Matter? I'm Not Sure': Grand Theft Auto Publisher

During its Q4 2021 earnings call, Take-Two CEO Strauss Zelnick took a skeptical view of cryptocurrency.

Chinese Police Return Bitcoin to Victim in 3 Million Yuan Theft Case

Police in China’s Jiangxi province have reportedly recovered bitcoins stolen from a victim and returned them to the owner.

South Korea to launch blockchain-based vaccine passports

The Prime Minister of South Korea has announced a blockchain-based vaccine certificate will launch later this month, but the concept has proven controversial across the world. South Korea will introduce blockchain-powered vaccine passports via a smartphone app later this month, the country's prime minister said Thursday. South Korea is joining a number of other nations in introducing vaccine certificates that enable cross-border travel while mitigating the risk of infections. Prime Minister Chung Sye-kyun suggested there could be substantial benefits for citizens at home too: “The introduction of a vaccine passport or ‘Green Pass’ will only allow those who have been vaccinated to experience the recovery to their daily lives,” he said during a daily inter-agency pandemic response meeting. The government developed the app using blockchain technology as a way to provide security against the possibility of identity theft.

iPhone user blames Apple for $600K Bitcoin theft via fake app

Apple removed the fake Trezor app several times, but it kept appearing on the App Store days later. A scam cryptocurrency app on Apple’s app distribution service App Store has reportedly stolen $600,000 Bitcoin (BTC) from one iOS user. Cryptocurrency holder Phillipe Christodoulou fell victim to a scam app on the App Store, losing nearly all his life savings to a fake crypto wallet application, The Washington Post reports Tuesday. Christodoulou went on the App Store last month to search for a mobile Trezor app to check his Bitcoin balance via phone.

Thailand’s central bank warns against ‘illegal’ THT stablecoin

The Baht-pegged stablecoin produced by Terra has come under fire from Thai bankers. The Bank of Thailand has issued a stern warning against a privately issued stablecoin pegged to the national currency, the Thai Baht. According to a Bangkok Post report on March 18, the central bank has told citizens that Thai Baht Digital (THT) has no legal assurances or protection and that users could be at risk of cyber theft or money laundering Citing a sixty-year-old law, the central bank's assistant governor of the legal group, Pruettipong Srimachand, stated that any activities involving the stablecoin are considered illegal: “The creation, issuance, usage or circulation of any material or token for money is a violation of Section 9 of the Currency Act 1958.” The stablecoin is issued on the Terra platform which has produced various other stablecoins including the TerraUSD, first issued in September 2020, and TerraKRW.

Hack Sunday: NFT Theft Follows a Personal Token Attack

After personal tokens (aka social or community tokens) had gotten hit this weekend, a non-fungible token (NFT) hack emerged as well.

Spanish Bittrex Customer Says Exchange ‘Allowed’ Theft of His Bitcoin

A Spanish court has given the Tenerife police permission to look into the case of an alleged Bittrex customer who claims the crypto exchange is at fault in the case of the “theft” of around USD 62,000 worth of bitcoin (BTC). The Tenerife branch of the national police cybercrimes unit is now investigating the claim, after the user stated unauthorized access had been

Cryptopia Got Hacked While In Liquidation Due To a Hack

Adding to the controversies surrounding New Zealand’s collapsed crypto exchange Cryptopia, the platform has allegedly been hacked again, allowing perpetrators to steal a further NZD 62,000 (USD 45,000) worth of crypto after a January 2019 attack captured an estimated USD 30m in cryptoassets. The alleged theft happened a few months after it was disclosed a former

US DoJ charges North Korean hackers over crypto theft and attacks

US Department of Justice charged three computer programmers who apparently belong to the infamous North Korea-affiliated hacker group known as Lazarus for attempting to steal and extort over $1.3 bil The post US DoJ charges North Korean hackers over crypto theft and attacks appeared first on AMBCrypto.

Decentralised identity project in the works at XSL Labs

Identity data theft has been rampant over the past few decades.

T-Mobile sued by victim who lost $450K in Bitcoin in SIM swap attack

The wireless carrier is accused of failing to protect its customers from SIM swappers' lucrative heists. Telecoms provider T-Mobile has become the latest corporate name to come under fire for its alleged negligence and failure to protect customer information, which indirectly enabled a "SIM swap attack" that led to the successful theft of $450,000, or 15 Bitcoin (BTC). A SIM swap attack — also referred to as a port-out scam — has proved to be a popular tactic with criminals in recent years.

KeepChange Foils Bitcoin Theft but Loses User Data in Sunday Breach

The bitcoin marketplace has halted withdrawal requests temporarily.

Kucoin hack: exchange recovers 100% of stolen funds

After suffering a major hack in September last year, Kucoin, the eight largest crypto exchange by trading volume, today addressed the security incident, which resulted in the theft of $285 million.

Decentralized identity is the way to fighting data and privacy theft

In the digitizing world, identity is everything and blockchain is to make it safe for everyone: users, businesses and governments. Decentralized identity is a function of blockchain technology that delivers real-world benefits to users quickly and easily, allowing them to benefit from things such as easier logins, faster credit checks and an overall smoother online experience. The proliferation of websites, e-commerce hubs and social media platforms means we can all have a huge database of logins, passwords and usernames to remember.

Bitcoin Worries `Fading,’ as Crypto Goes Mainstream, S&P Says

S&P sees "a lot of similarities" between bitcoin and gold, and says concerns about theft of cryptocurrency have diminished with greater mainstream acceptance.

Ethereum's Vitalik Buterin calls for adoption of social recovery wallets to fight crypto theft

Ethereum's Vitalik Buterin revealed his thoughts on solving the problem of crypto-wallet security.

Bitcoin Trader Robbed During an In-Person Transaction, Kicked Out of Car in Hong Kong

An unnamed 37-year-old man was a victim of a theft from a gang of robbers who fled with 15 bitcoin (BTC), worth HKD 3 million ($387,000) in cash.

Bulgarian Electricity Company Unveils Details of Historic Power Theft Linked to Illegal Bitcoin Mining

One of the largest exporters of electricity in Europe has revealed details of the most significant theft they have had in history, linked to a massive illegal bitcoin mining farm in a small Bulgarian village.

Thief Steals USD 8.2m From Nexus Mutual Founder in a 'Targeted Attack'

There's been another theft in the Cryptoverse - this time a 'personal' one, as attackers have taken more than USD 8.2m from the account of Hugh Karp, the founder of decentralized finance (DeFi) insurance protocol Nexus Mutual.

Bitcoin theft could rise in post-COVID-19 economy: research

The post COVID-19 pandemic economy might see certain economies crashing and local currencies plummeting, which would make Bitcoin theft "a lot more attractive," according to new research.

Bitcoin theft is likely to surge in meager post-COVID economy: report

Cybercriminals may favor a different cryptocurrency in the coming months, however. Cryptocurrency-related fraud and theft are likely to grow in the post-COVID-19 world, according to a new report by cybersecurity and anti-virus provider, Kaspersky Lab. Securelist, Kaspersky’s cyberthreat research arm, published a report on cyberthreats to financial organizations, forecasting some specific types of financial attacks that are likely to surge in 2021. Securelist has predicted that a wave of poverty fueled by the COVID-19 pandemic will inevitably lead to “more people resorting to crime including cybercrime.” That could also mean a rise in crimes related to Bitcoin (BTC). According to Kaspersky’s research arm, Bitcoin is likely to be the most attractive asset for cybercrime because it is the most popular digital asset.

Cryptocurrency and Safety Money, Bitcoin Vault Breaks Stereotypes

Cryptocurrency theft has boomed over the past couple of years and this is no hoax.

4 tips to avoid phishing attacks

Once a user identifies a phishing attempt, spreading the word online can assist in the security of everyone’s funds. Many crypto owners fall prey to common crypto theft schemes, including phishing traps.

Man from Dublin jailed for participating in theft of $2 million in crypto

A 21-year-old man from Dublin who took part in the online theft of over $2 million worth of cryptocurrencies has now been imprisoned for just under three years. United States Department of Homeland S The post Man from Dublin jailed for participating in theft of $2 million in crypto appeared first on AMBCrypto.

Ex-Microsoft Dev Gets 9 Years in Prison Over $10M Theft Involving Bitcoin Mixing

The former Microsoft software engineer was sentenced Monday for an elaborate criminal scheme involving bitcoin and digital gift cards.

Two US Nationals Charged With SIM-Swap Cryptocurrency Theft

Federal prosecutors have charged two US citizens with a SIM swap and phishing scam that led to a theft of over $16,000 worth of cryptocurrency.

Two Indicted in Latest Federal Prosecution of SIM-Swapping Crypto Theft

One alleged conspirator tried to SWAT the other after he "failed to share" the pair's stolen crypto.

Police in Latvia Thwart Brutal Crypto Theft and Murder Plot

Police in Latvia said they have intercepted a gruesome kidnap and murder attempt on two people, at least once of whom has significant cryptoasset holdings – and torture at least one victim into revealing their private keys and other details. Per an official release from the Latvian police service, the would-be attacker, a male resident of the capital Riga who was

New York polls crypto firms on security measures after Twitter hack

The New York Department of Financial Services found that crypto firms blocked the Twitter hackers’ crypto addresses within 40 minutes. The New York Department of Financial Services, or NYDFS, has released a lengthy report analyzing the impact of July’s high-profile Twitter hack, which resulted in the theft of over $118,000 worth of Bitcoin (BTC).  Far beyond the immediate material impact, the NYDFS states that the incident exposed deep cybersecurity weaknesses of a publicly-traded social media company valued at $37 billion and counting over 330 million active monthly users.

Bitstamp says its users are now covered against a broad web of crime

Crypto needs insurance too. Digital asset exchange Bitstamp has beefed up its insurance measures to combat the inherent uncertainties associated with the crypto space. "The policy covers an array of crime-related cases, such as employee theft, loss while the assets are stored at any premises, loss in transit, loss caused by computer fraud or funds transfer fraud, and loss related to legal fees and expenses," an Oct.

What Yearn Finance’s ‘Blue Kirby’ Incident Means for Pseudonymity

DeFi investors are reeling from another case of pseudonymous treachery as Yearn.Finance community leader Blue Kirby allegedly absconded with ill-gotten gains.

Prominent Hacker Heads to Crypto VC Firm Paradigm

Samczsun has saved millions in dollars worth of crypto from theft.

Robinhood Traders, Including Bitcoin Holders, Left in the Lurch Following Theft: Report

The popular personal investing platform did not do enough to help targeted customers, victims claim.

Digital identity is the future, US congressman Bill Foster says

Technology could hold the keys to identity theft protection.

North Korean crypto hacking: Separating fact from fiction

"The small IP space/access to the internet in the DPRK, as well as its less connected nature to global/online systems, arguably offers it an asymmetric advantage in relation to cyber operations." The Democratic People’s Republic of Korea is widely considered to be a state sponsor of cryptocurrency hacking and theft.

USD 36m in Stolen Bitfinex Bitcoin Moved, Botched BTC ATM Theft + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Crime news Almost USD 36m worth of bitcoin (BTC) associated with the massive 2016 hack of crypto exchange Bitfinex was moved across elven transactions on Wednesday and Thursday, according to blockchain tracker bot

Bungled Theft of Bitcoin ATM Puts Canadian Business Out of Action

The inept thieves reversed their pickup truck into the store window, after failing to nab the crypto ATM.

Bungled Bitcoin ATM theft in ‘meatspace’ won't ruin Thanksgiving

Two thieves have destroyed the front wall of a deli in Canada after a failed attempt to steal a Bitcoin ATM.

Europol Says Cybercrime Involving Crypto Still Widespread

Organized crime ranging from sextortion to theft all lead back to cryptocurrencies, according to the report.

Hacker Saves $10 Million in Ethereum From Inevitable Theft

An Ethereum smart contract containing 25,000 ETH turned out to be up for grabs—but a group of security experts intervened.

US ramps up enforcement actions against global crypto scams

The US Justice Department has announced sanctions against two Russians, and the arrest of two Malaysians, over separate seven-figure crypto scams. The United States has taken actions against international hackers responsible for the theft of millions of dollars in cryptocurrency. On September 16, the US Department of Justice, US Department of Homeland Security, and the US The Department of the Treasury’s Office of Foreign Assets Control announced it has imposed sanctions on two Russian nationals who used a sophistication phishing campaign to steal at least $16.8 million from the customers of three virtual currency exchanges in 2017 and 2018 — including two based in the United States. The pair, Danil Potekhin and Dmitrii Karasavidi, created multiple websites impersonating legitimate crypto exchanges to steal the login information for unsuspecting victims, before using accounts verified with stolen identities to move the crypto assets through various intermediaries and execute pump and dump schemes targeting altcoins with low market capitalization.

Singapore man pleads guilty to stealing $360K in fake Bitcoin sale

The cases of the robber’s two accomplices are still pending. A major suspect in a high-profile theft case related to Bitcoin (BTC) trading has pleaded guilty in a Singaporean court. Syed Mokhtar Syed Yusope, an accomplice in a $360,000 robbery, pleaded guilty in a district court to a robbery charge on Sept.

Trezor Fixes New Vulnerability, KeepKey Working On It; New Malware Targets Wallets

Swiss hardware wallet provider Shift Crypto said it has disclosed a vulnerability in the Trezor and KeepKey hardware wallets that could allow for potential ransom attacks – while a potentially nasty new malware strain is threatening to cause widespread wallet theft if left unchecked. The vulnerability can potentially be exploited when users enter passphrases on their

Malaysian Authorities Shut Down Illegal Bitcoin Miners For $600K Power Theft

Malaysian police have shut down two illegal Bitcoin mining operations which had been siphoning power continuously for the past three years.

Malaysian authorities arrest crypto miners for $600K power theft

The two crypto mining operations stole almost $20,000 in electricity monthly. Officials in the Malaysian state of Johor shut down two crypto operations which had stolen more than $600,000 worth of electricity over three years.  According to a Sept.

Geopolitical risks prevail as new players emerge in the crypto mining space

China is not the only country that wants control of this highly coveted industry. Taras Kulyk, Senior Vice President of Blockchain Business Development at Core Scientific, says that the countries competing to become leaders in the Blockchain space vary greatly in what they can offer to crypto miners. During an interview with Cointelegraph, Kulyk stated that global diversification of hashrate has been increasing as countries around the world vie for control of the crypto mining industry. Kulyk believes that China has been a desirable hub for crypto mining due to specific factors it enjoys, specifically the low cost of labor, access to units, and decreased cost of power during the rainy season, but he clarified: “One key economic concern driving recent crackdowns by authorities is theft of power which local politicians then have to clamp down.

Another inside job at Shapeshift cost the company nearly $1 million

An employee allegedly used his credentials at Shapeshift to steal from the company. Following the theft and repayment of $900,000 in Bitcoin (BTC), Shapeshift is now pursuing damages in court against its former senior software engineer, Azamat Mukhiddinov.  "There was significant time lost and legal costs associated with the clean-up," Shapeshift's chief legal officer, Veronica McGregor, told Cointelegraph, noting that customer funds were safe throughout the ordeal.

Uber Exec Denies Bitcoin Hush Money Charges

A spokesman for Joseph Sullivan has denied the charges the Uber exec faces for paying hackers $100K in Bitcoin to cover up a data breach. A spokesperson claims “there is no merit” to allegations against former Uber Chief Security Officer Joseph Sullivan, who is now facing charges of obstruction of justice and misprision of a felony. The Department of Justice (DoJ) alleges Sullivan tried to conceal the theft of private information for roughly 57 million users in a hack of Uber.

Two Suspects Arrested in USD 1.5m Crypto Mining Electricity Theft

Source: Adobe/Артем Константинов Officials from the Oblast Directorate of the Ministry of Interior Affairs (ODMVR) and CEZ Electro Bulgaria have reportedly made two arrests in what is described as the “largest theft” of electricity for cryptocurrency mining in the Balkan country.

Binance Assists Ukrainian Authorities To Arrest Cybercriminals Laundering $42M

Binance worked together with Ukrainian authorities to identify and arrest a cybercriminal group responsible for the theft of over $42 million from ransomware attacks. The post Binance Assists Ukrainian Authorities To Arrest Cybercriminals Laundering $42M appeared first on CryptoPotato.

Two Bitcoin Farmers Stole $1.5M in Electricity in Bulgaria

Two Bulgarian nationals have been charged with the theft of nearly $1.5M in electricity used to illegally operate crypto mining farms. Bulgarian authorities have arrested two men for illegally siphoning off more than $1.5 million in electricity to operate two crypto mining farms. According to an Aug.

TOR Network Vulnerability May Have Facilitated Dark Web Bitcoin Theft

According to a cybersecurity researcher, Bitcoin thieves and hackers have controlled more exit relays on the Tor network this year than in the past five, raising serious cybersecurity concerns that experts are looking to fix.

A Tor Vulnerability May Have Enabled Dark Web Bitcoin Theft

Stealing Bitcoin from Tor users is easy. According to recently published research, an attacker has found vulnerabilities in the Tor browser network that might have allowed them to steal Bitcoin (BTC) from users.

Woman jailed in Australia for stealing $400,000 in XRP

A Sydney resident was jailed today after being convicted of theft in 2018 involving the cryptocurrency XRP.

Australian Female Hacker Sentenced to 2 Years of Prison for $400K Ripple (XRP) Crypto Heist

Australia recorded one of its first cases of cryptocurrency theft recently.

Australian Woman Jailed for Theft of More Than 100,000 XRP

The 25-year-old received an over two-year sentence for the 2018 theft of XRP worth around $300,000 at the time.

Australian Hacker Sentenced to 2 Years in Prison for $300K XRP Theft

An Australian woman is facing more than two years in prison after stealing more than $300K in XRP tokens in January 2018. A judge has sentenced Australian citizen Kathryn Nguyen to a maximum time of 2 years and 3 months in prison for her role in stealing more than 100,000 XRP tokens in January 2018. According to an Aug.

North Korea Reportedly Using Altcoins to Convert $1.5B in Stolen Funds to Cash

North Korean hackers are reportedly using untraceable altcoins to convert stolen cryptocurrencies into cash. North Korea-based cybercriminals are suspected to be using untraceable alternative cryptocurrencies, or altcoins, to convert stolen funds into cash. According to an NK News report, an unpublished United Nations Panel of Experts report states that North Korea-backed hackers have stolen approximately $1.5 billion in cryptocurrencies and they were converting a portion of that amount into cash. Using altcoins, mixers and loosely regulated exchanges The hackers deliberately transact using privacy-focused altcoins as they are hard to trace and track, moving the stolen assets to loosely regulated cryptocurrency exchanges that have minimal customer identification requirements. The U.N.

Ethereum Classic Considers Network Rollback Following $5.6M Theft

Ethereum Classic suffered a 51% attack last weekend, the second such attack in less than two years.

Bitfinex Launches $400 Million Bounty Hunt for 2016 Hackers Who Stole $1.3 Billion in BTC

Bitfinex has launched a 400 million dollar bounty hunt in search of the hackers responsible for the theft of nearly 120,000 Bitcoins from the global exchange in 2016.

China’s Open Source Development Has Lessons for the US

While the US complains about TikTok and Chinese IP theft, China is forging a new form of development based on open source networks.

Columbia Man Pleads Guilty to Bitcoin Dark Web Chemical Weapon Purchase

A 45-year-old man from Columbia, Missouri pled guilty yesterday in a US federal court to one count of aggravated identity theft and one count of attempting to acquire a chemical weapon—via the dark web using Bitcoin.

Opyn Removes Liquidity From Uniswap After $370K Stolen in DeFi Exploit

Attackers exploited a Uniswap trading loophole to get away with more than $370K. Attackers have exploited a vulnerability in the Opyn ETH Put contract to walk away with more than $370,000. One of the first members of Crypto Twitter to report on the theft, DegenSpartan, stated on Aug.

Bitfinex Steps up Hunt For Its Hackers, Promises USD 400m In Rewards

Major crypto exchange Bitfinex has offered a multi-million dollar reward to anyone who can lead it to the hackers responsible for the the theft of nearly bitcoin (BTC) 120,000 in August 2016 - even to the hackers themselves. Today's value of the bitcoin stolen from Bitfinex four years ago is around USD 1.34bn.

Bitpatt.com, a Safe, Fast and Reliable P2P Crypto Exchange, Launches Operations

While there are many crypto exchanges, fear of hacking and theft has slowly crept into crypto traders due to many such past incidents.

Crypto Wallet Maker Ledger Loses 1M Email Addresses in Data Theft

An unknown hacker gained access to the wallet maker's marketing database, stealing a million email addresses as well as personal information for 9,000 customers.

10,000 Antminers Go ‘Missing’ in Latest Chapter of Bitmain Power Saga

Former Bitmain staff have been accused of “illegally” moving 10,000 Antiminers from a company-owned mining facility in Mongolia. In the ongoing power struggle at cryptocurrency mining giant Bitmain, not only have accusations of “illegal power seizures” made headlines, but now the physical theft of mining hardware as well. A new post on Bitmain-owned Antminer’s WeChat channel alleges that former Bitmain staff have “illegally moved” 10,000 Antiminer Bitcoin (BTC) mining rigs from a company-owned facility in Mongolia. The machines — among them models from the S17 and T17 series and flagship S9 miners — were reportedly removed in mid-July, causing “serious economic losses to the company and customers.” The incident has been reported to the police and public security authorities. At stake is not only Bitmain’s own hardware, but also that belonging to clients who choose to have their mining hardware operated and hosted at the manufacturer’s mining farms. In a post to Bitmain’s Weibo account, co-founder Micree Ketuan Zhan — one half of the duo at loggerheads over power at Bitmain — accused his co-founder Jihan Wu of being responsible for the “illegal transfer” of the machines. Bitmain Weibo post, signed by four Bitmain subsidiaries.

T-Mobile Sued Over $8.7m Stolen in SIM-Swap Attacks

The CEO of a crypto firm that recently settled with the SEC over its 2017 ICO is suing T-Mobile over a series of SIM-swaps that resulted in the loss of $8.7 million worth of crypto. Reggie Middleton, the chief executive of crypto company Veritaseum, is suing telecommunications provider T-Mobile for allegedly enabling the theft of $8.7 million worth of crypto in a series of SIM-swap attacks. According to filings published on July 22, Middleton was first targeted by SIM-swappers during July 2017.

Mempool Manipulation Enabled Theft of $8M in MakerDAO Collateral on Black Thursday: Report

New research suggests March’s “Black Swan” event for Ethereum may have been a sophisticated plan to cash in on a global sell-off.

CipherTrace Unveils Crypto Predictive Risk Model to Combat Suspicious Transactions in Wake of Twitter Scam

CipherTrace, a cryptocurrency intelligence company, has introduced a predictive risk-scoring model to instantly avert money laundering of cryptocurrencies from ransomware attacks and theft.

Criminal Extradited from Cyprus for Allegedly Stealing Bitcoin

DOJ extradites two criminals, one for stealing Bitcoin, from Cyprus. Two alleged criminals, one suspected of stealing thousands of Bitcoin and the other a money launderer with connections to Hezbollah, were extradited from Cyprus, according to the Department of Justice or DOJ. One of the suspects is wanted in Georgia and Arizona for cyber intrusion and extortion and the other is wanted in Florida for money-laundering in support of Hezbollah.  Joshua Polloso Epifaniou, a Cypriot national, is accused of wire fraud, conspiracy to commit wire fraud, conspiracy to commit computer fraud and identity theft and extortion.

Blockchain Bites: Binance’s Bitcoin Mining, ConsenSys’ Legal Trouble and Why Politicians Blame Twitter, Not Bitcoin

Binance will consolidate its bitcoin mining, ConsenSys is accused of intellectual property theft and Wonder Woman's illustrator will sell art on Ethereum.

New Trojan Attack Targets Mac Users to Steal Cryptocurrency

Researchers discovered a new trojan targeted at crypto traders using trading applications on macOS. A new trojan attack using malware called GMERA is targeting cryptocurrency traders who use trading applications on Apple’s macOS. The internet security company ESET found that the malware comes integrated into legitimate-looking cryptocurrency trading applications and tries to steal users’ crypto funds from their wallets. Researchers at another cybersecurity firm Trend Micro first discovered GMERA malware in September 2019, when it was posing as the Mac-specific stock investment application Stockfolio.  Copying the actual applications ESET found the malware operators have integrated GMERA to the original macOS cryptocurrency trading application Kattana.