4/11/2023 - Gizmodo just dropped this eye-roll inducing news. The disgraced crypto exchange had no dedicated cybersecurity staff and "protected" users assets with minimal safeguards, according to new bankruptcy filings. Here are just two paragraphs of the whole story. The whole thing is unbelievable.
Trustwave SpiderLabs uncovered a new strain of malware that it dubbed Rilide, which targets Chromium-based browsers such as Google Chrome, Microsoft Edge, Brave, and Opera. Rilide malware is disguised as a legitimate Google Drive extension and enables threat actors to carry out a broad spectrum of malicious activities, including monitoring browsing history, taking screenshots, and injecting malicious scripts to withdraw funds from various cryptocurrency exchanges.
The rise in popularity of cryptocurrencies has brought about significant concerns regarding wallet vulnerabilities and digital theft among individuals and businesses transacting in the market. While the meteoric rise in the value of cryptocurrency has attracted legitimate investors, it has also caught the attention of malicious actors who are constantly searching for vulnerabilities to exploit.
Crypto scams are skyrocketing: In 2022, the FBI tracked an 183% year-over-year increase, driving $2.57 billion in losses. Last week, the popular YouTube channel Linus Tech Tips (LTT for short) – and two associated channels – became the latest crypto scam victim and unsuspecting accomplice.
The blockchain industry is expected to grow and hit a value of $163 billion by 2029. With such growth will also come the ever-increasing need for ensuring the protection of blockchain applications. In comes blockchain auditing companies.
The vulnerability allows an attacker to extract the full ECDSA private key from BitGo Ethereum TSS wallets using a single signature and a few seconds of computation, bypassing all of BitGo security features.
CrowdStrike has discovered the first-ever Dero cryptojacking operation targeting Kubernetes infrastructure. Dero is a relatively new and privacy-focused cryptocurrency that uses directed acyclic graph (DAG) technology to claim complete anonymity of its transactions. The combination of anonymity and the higher rewards ratio makes it potentially lucrative to cryptojacking groups compared to Monero, which is commonly used cryptocurrency by attackers or groups running miner operations.
The first step in Anti-Money Laundering (AML) due diligence is to Know Your Customer (KYC). A financial institution (FI) promptly implements KYC processes to identify and confirm a new customer’s identification. These procedures enable FIs to evaluate the risk profile of a customer based on that person’s propensity for financial crime. KYC is a procedure that cryptocurrency exchanges are required to follow.
