In 2014, the operators of the world’s largest cryptocurrency exchange, Mt. Gox, disclosed that hackers had drained 650,000 Bitcoin (worth about $500 million at the time). The ensuing chaos gave Michael Gronager, founder and CEO of Chainalysis, an idea: Since blockchain ledgers are public, what if someone created a tool that sifted through all of that data and traced the […]
Advances in cryptography have not met with user enthusiasm, suggesting a disconnect between the cryptocurrency community and its cypherpunk ancestors. According to Coin Metrics, transactions of privacy-focused cryptocurrencies zcash (ZEC), monero (XMR), and grin only add up to 6% of bitcoin’s transactions. Zcash’s privacy feature is significantly underutilized, with less than 2% of transactions fully shielded. Although […]
Security researchers at Slovak security firm ESET have discovered a new family of malware that they say has been using a variety of techniques to steal cryptocurrency from unsuspecting users since at least December 2018. The malware, which has been named KryptoCibule, uses a variety of legitimate technology – including Tor and the Transmission torrent client […]
Los Alamos National Laboratory computer scientists have developed a new artificial intelligence (AI) system that may be able to identify malicious codes that hijack supercomputers to mine for cryptocurrency such as Bitcoin and Monero.”Based on recent computer break-ins in Europe and elsewhere, this type of software watchdog will soon be crucial to prevent cryptocurrency miners […]
The U.S. Department of Justice (DOJ) announced the “largest ever seizure of terrorist organizations’ cryptocurrency accounts” on Thursday, including “millions of dollars” and 300 crypto accounts. In a press release Thursday, the DOJ announced it had investigated and dismantled “three terrorist financing cyber-enabled campaigns” involving al-Qaeda, Hamas and the Islamic State of Iraq and the Levant […]
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 […]
Close to a year ago last July, the U.S. Internal Revenue Service (IRS) revealed it would be sending ‘soft letters’ to suspected American cryptocurrency owners advising them to pay their taxes. Now according to the Taxpayer Advocate Service, a subsidiary of the IRS, the soft letters undermined the rights and protections of American taxpayers. The […]
The COVID-19 pandemic has crushed businesses, crippling life all across the world. It is costing darknet drug traffickers millions as well because their methods of moving drugs and funds have been compromised during the lockdown, according to a blog post by Chainalysis. “Darknet market revenue has fallen much more than we’d expect following Bitcoin’s recent major […]
Since the beginning of 2020, “Glupteba,” a malware that uses Bitcoin’s blockchain to control an army of bots, has been spreading at an accelerated pace. The malware was first discovered in 2011 but researchers noted in late 2019 that it had started using the Bitcoin blockchain to help coordinate its botnet. Now, further research suggests the […]
The persistence of the Covid-19 pandemic has led governments and companies to resort to the unthinkable: increased surveillance. In Beijing, which on June 11 marked its first new case after two months, authorities utilized geo-spatial information collected through mobile tracking devices in people’s smartphones to identify and isolate potential virus carriers. To lessen public concern Norway […]
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