VMware's Tom Kellermann is out with Modern Bank Heists 5.0, his latest look at the attackers and attacks targeting financial services. Subtitled "The Escalation," this report looks at the increase in destructive attacks, ransomware and hits on cryptocurrency exchanges. Kellermann shares insights.
Hours after global cryptocurrency exchange Currency.com announced it was halting operations in Russia, it faced - and thwarted - a distributed denial-of-service attack. The company's founder, Viktor Prokopenya, says the firm's "servers, systems and client data remained intact and uncompromised."
Decentralized credit-based stablecoin protocol Beanstalk was the victim of "a theft of about $76 million in non-Beanstalk user assets." The Ethereum-based protocol did not specify what those assets included, but blockchain security firm PeckShield says the total losses are likely $182 million.
Leading organizations are exploring quantum computing, AI and blockchain as drivers for business transformation and intelligent change. Bijender Mishra, CISO of Alkem Laboratories, discusses how these technologies can help industries, including pharmaceuticals, improve productivity and growth.
Ronin Network, which powers the popular NFT game Axie Infinity, announced it had been the victim of a security breach that amounted to about $615 million in stolen funds. The company tweeted that the attacker's wallet had been connected to Binance and that an investigation is currently underway.
Last week, the U.S. Department of Justice said that law enforcement authorities had made "one of the largest cryptocurrency forfeiture actions ever filed by the United States," confiscating about $34 million worth of cryptocurrency "tied to illegal dark web activity." Here's how they made it happen.
Acting Comptroller of the Currency Michael J. Hsu says there are compelling arguments for a centralized U.S. stablecoin, but there are also high risks associated with it. Some security experts question whether the technology has advanced enough and consider stablecoin risks.
Security leaders are leveraging blockchain's decentralized approach to establish user identity, as it is designed to ensure the correction of transaction through reliable sources that help to contain fraudulent transactions, says Edmund Situmorang, CTO at Prodigi, Sinar Mas Group.
A group of fraudsters made more than $1.6 million in a massive scam using fake cryptocurrency giveaway YouTube streams attracting more than 165,000 viewers. The campaign also exploited the names of Vitalik Buterin, Elon Musk, Michael Saylor and other crypto enthusiasts.
The latest edition of the ISMG Security Report reviews the latest cyber resilience "call to action" from the White House and also explores authentication provider Okta's failure to inform hundreds of customers in a timely manner that their data could have been stolen by the Lapsus$ group.
In a series of Executive Orders, National Security Memorandums (NSM-8), a government-wide push to embrace zero-trust architecture, and the National Institute of Standards and Technology (NIST) project to finalize Post-Quantum Cryptography (PQC) standards, advanced quantum security methods are beginning to emerge as a...
In the latest weekly update, four editors at ISMG discuss how Russia's invasion of Ukraine complicates cybercrime ransomware payments, a former U.S. Treasury senior adviser's take on Biden's cryptocurrency executive order, and important points regarding the upcoming identity theft executive order.
As war in Ukraine rages and the Putin regime continues to drive toward population centers in the former Soviet state, U.S. cybersecurity officials remain on high alert - questioning whether the Russians will elevate the cyberwar against their Western neighbor or even NATO networks.
What are the ethics of paying ransom to cybercriminals who might be working as a proxy cyber force in support of Russia's invasion of Ukraine? Realistically, whether or not to pay often comes down to a business decision. But Russia's invasion further complicates the optics for ransomware victims.
Ari Redbord of TRM Labs joins editors at ISMG to discuss President Biden's executive order on digital assets, the role of cryptocurrency in the Ukraine-Russia war and nuances for ransomware victims who consider paying a ransom, and trends in regulatory guidance and leadership for digital currency.
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