Criminals Can Unravel Visa Security Codes With Ease, Study Shows
Many Bitcoin users have compared the digital currency to settlement networks like Visa. However, one important technical aspect which separates Bitcoin from the rest is security. In early November, Tesco Bank suspended all user transactions after 20,000 clients lost an estimated $700 per account. A study published in the academic journal IEEE Security & Privacy, led by Newcastle University’s Mohammed Ali, revealed that an attack called “Distributed Guessing Attack” could have been used in the breach of Tesco Bank accounts. Essentially, the Distributed Guessing Attack (DGA) is a method....
Related News
For the longest time, people have assumed the profits made from ransomware attacks is very lucrative. But a recent study by Flashpoint paints an entirely different picture. While there is still money to be made, the numbers are far lower than most people think they are. Flashpoint conducted a five-month study of a Russian ransomware operation to see how lucrative this business model is. As it turns out, the operators of this service make far less money than most people anticipated. The “upper brass” makes US$90k per year, which is still a nice amount, but not that high all things....
According to research published by Chainalysis, criminal entities hold more than $25 billion in cryptocurrencies. The blockchain intelligence firm’s study shows that there was a significant increase in crypto balances held by criminals in 2021 as the metric jumped by 266% since the year before.
Chainalysis Studies Crypto Whales Holding Balances Tied to Illicit Addresses
The blockchain surveillance company Chainalysis published a study that indicates $25 billion in digital assets is currently held by criminals. Despite the significant law enforcement seizures last year,....
Crypto-linked card spending is on the rise. Visa shared this week that consumer spending with Visa-based crypto credit cards has exceeded $1B this year, through just the first six months of the year. Increasing Adoption Through Accessibility Visa also shared this week that it plans on partnering with 50 different cryptocurrency platforms to allow ease […]
While it is good to see criminals have no geographical bias, it also makes life more difficult for security researchers. There is no direct correlation between densely populated areas and malware attacks. Those are the findings of a new Webroot study related to malicious software. In fact, only one in ten most-infected US cities is densely populated. Criminals do not discriminate victims based on location by the look of things.Malware will find its way to everyone on this planet, that much is certain. The new Webroot study is very troublesome, to say the least. Houston is the US city with....
Bitcoin payment processor BitPay has released a wallet app for storing and spending bitcoin. The app marries BitPay’s experience in merchant payments with its tools for consumer bitcoin payments, providing new possibilities for bitcoin adoption and use. Consumers and merchants worldwide have turned to bitcoin as an internet-friendly alternative to credit cards. Bitcoin provides a fast and secure way to transfer funds worldwide. It also offers a store of value or portfolio asset. Security Marries Ease Of Use. Security and ease of use have rarely been combined in bitcoin’s early....