Law enforcement agencies are “very often” not properly trained or equipped to track crypto crimes, Interpol secretary general Jürgen Stock said. The International Criminal Police Organization is reportedly planning to strengthen its crackdown on cryptocurrency-related crimes by forming a dedicated division. Interpol, the world’s largest global police organization, has set up a special team in…
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Curve, Uniswap, 1inch, and the Ren bridge were the top platforms of choice for laundering illicit crypto, according to Elliptic. New research from blockchain analytics and crypto compliance firm Elliptic has revealed the extent to which cross-chain bridges and decentralized exchanges (DEXs) have removed barriers for cybercriminals. In an Oct. 4 report titled “The state…
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Rug pulls, a type of theft which occurs when owners of a crypto project flee with the funds collected from their investors, dominated Web3 world-based scams and exploits in August, with 33 out of the 44 recorded exploits deemed rug pulls and exit scams, according to a recent report released by blockchain security company CertiK….…
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In order for blockchain firms to truly validate their internal security protocols, they need to be audited thoroughly. Here’s a brief rundown of how the process goes. The last few years have seen blockchain platforms becoming the centerpiece of many tech conversations across the globe. This is because the technology not only lies at the…
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The suspected hack followed ZB.com announcing the suspension of deposits and withdrawals on Tuesday in response to the “sudden failure of some core applications.” Blockchain investigator PeckShield has reported roughly $4.8 million in crypto moved from ZB.com amid the exchange announcing the suspension of withdrawals. In a Wednesday tweet, PeckShield speculated that hackers might be…
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Cryptojacking has become a lucrative choice for cybercriminals as many victims are unaware they have been compromised. New research shows that despite falling digital asset prices, cryptojacking has reached record levels in the first half of 2022. According to a mid-year update on cyber threats by American cybersecurity company SonicWall, global cryptojacking volumes rose by…
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Offenders that use cryptocurrency for illegal activity in Australia are more likely to receive a tougher sentence. Criminals that used cryptocurrency as part of committing a crime are more likely to receive a tougher sentence in Australian courts, a new study has found. The study, titled “Crime and Cryptocurrency in Australian Courts,” published on Monday…
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“Even though the tradecraft is not perfect right now… it’s still a fresh market for North Korea,” says former CIA analyst Soo Kim. North Korea-backed cyberattacks on crypto and tech firms will only become more sophisticated over time as the country battles prolonged economic sanctions and resource shortages. Former CIA analyst Soo Kim told CNN…
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Three experts from the private sector appeared before the Senate committee Tuesday to talk about ransomware attacks and how to combat them. The collection and processing of information was a major theme at the United States Senate Committee on Homeland Security and Governmental Affairs (HSGAC) hearing titled, “Rising Threats: Ransomware Attacks and Ransom Payments Enabled…
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The crypto mixer is said to have processed $20.5 million out of the $620 million taken by North Korean Lazarus Group hackers. The United States Treasury Department Office of Foreign Assets Control (OFAC) announced Friday that it was sanctioning cryptocurrency mixer Blender.io for its role in laundering proceeds from the hacking of Axie Infinity’s Ronin…
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