A multimillion-dollar security breach involving a third-party vendor hastened Ripple’s acquisition of Fortress Trust on Sept. 8. The takeover of Fortress Trust by financial technology company Ripple on Sept. 8 involved more than just an acquisition deal. The transaction was accelerated by a security incident hours earlier involving a Fortress third-party analytics vendor, Ripple confirmed…
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As artificial intelligence (AI) continues its expansion into the finance sector, a new report published on the International Monetary Fund (IMF) Publications web portal cautions about risks associated with the latest AI capabilities in the financial world. The Rise of Thinking Machines: Report Warns of Risks From Generative AI in Finance The report, authored by…
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According to cybersecurity firm Certik, nearly $1 billion in cryptocurrency has been pilfered due to scams, rug pulls, and exploits throughout 2023. The company highlighted that the combined incidents in August alone led to a loss of $45.8 million. Certik Analysis: Cryptocurrency Losses Near $1 Billion The digital security and smart contract auditing firm Certik…
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According to cybersecurity firm Group-IB, weaponized ZIP file archives were being shared on crypto trading forums, with each one containing a nasty surprise. The developers behind file compression software WinRAR have patched a zero-day vulnerability that allowed hackers to install malware onto unsuspecting victims’ computers, enabling them to hack into their crypto and stock trading…
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The new service, called Economic Exploit Analysis, uses University of Toronto research and will work on any EVM-compatible blockchain. Blockchain security provider Quantstamp has launched an automated service to detect flash loan attack vectors in smart contracts. The new service is being called Economic Exploit Analysis and is based on research done at the University…
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Palo Alto Networks CEO Nikesh Arora warned that “bad actors are getting faster” and stressed that companies need to beef up cybersecurity defenses. Palo Alto Networks CEO Nikesh Arora has urged companies to modernize their cybersecurity systems, cautioning that bad actors have become much faster at breaching company defenses than ever before. Speaking to Jim…
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The world’s leading crypto exchange by trading volume has reportedly applied to register in Taiwan under the new AML compliance. Binance, the world’s leading crypto exchange by trading volume, has reportedly applied to be registered in Taiwan under the Money Laundering Control Act and the Financial Supervisory Commission (FSC). The FSC reportedly informed dozens of…
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The smart contract auditor found that operator verification could have let operators into the system without a verified ID or even being a company. The controversial Worldcoin project had a serious security vulnerability, CertiK has disclosed on X (formerly known as Twitter). Worldcoin pays people to become part of its World ID ecosystem by submitting…
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Reliable auditing procedures are important for ensuring the integrity of blockchain networks. Blockchain auditing is the process of examining and verifying the data and transactions stored within a blockchain network. It focuses on assessing the integrity and accuracy of the information recorded on the blockchain to ensure it aligns with the intended rules, protocols and…
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The scheme consists of mirroring addresses and sending dust transactions to users to trick them into sending funds to the scammer’s wallet. Binance CEO Changpeng ‘CZ’ Zhao warned his followers on X about a tricky and increasingly popular scam targeting the crypto community, in which fake wallet addresses are used to defraud users during transactions.…
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