Cyber Criminals Are Now Hiding Their Stolen Cryptos 13x Faster, Says Report
A new report unveiled a growing trend of efforts from cybercriminals hiding their stolen cryptocurrencies through different transaction flows. Crystal Blockchain pointed out that since 2019, the volume of stolen bitcoin grew significantly. Only 8% of the Funds Were Transferred to Exchanges With Verification Procedures in 2020 Per the findings, in 2020, the firm said that cybercriminals attempted to withdraw stolen and scam-sourced digital assets at a rate of 13x faster than five years ago. Interestingly, in 53% of the cases, exchanges with verification requirements were the major....
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Ran$umBin is a new marketplace on the dark web, which is dedicated to internet criminals and victims of cyber attacks. Monetizing crypto-ransomware attacks has never been much of a problem, according to most, but this platform wants to make things even easier by reducing the risk for the internet criminal. As if the looming threat of crypto-ransomware is not annoying enough to deal with, things have become a whole lot easier for Internet criminals looking to make some quick money. Ran$umBin was created for this exact purpose, as this dark web marketplace is a one-stop shop for monetizing....
Questions have been raised as to whether or not blockchain technology is secure enough to prevent cyber criminals from targeting the financial services. As bitcoin continues to gain wide acceptance in a number of countries, establishments, and services, companies are turning to its underlying technology, the blockchain, as a way of verifying transactions electronically with no central ledger. Unfortunately, over the last year, cyber criminals have targeted exchanges and companies by utilizing the blockchain and digital currencies. Cybercriminals were able to attack the DAO, draining over....
Several of London’s largest banks are stocking up on Bitcoin in order to pay off cyber criminals who threaten to bring down their critical IT systems, say IT experts. The banks are now coming to terms with the view that it is cheaper to pay off criminals than risk ferocious cyber attacks on a high scale. According to a Guardian report, paying ransoms with Bitcoin seems the better way to go because even though senior police officers have been made aware of the practice, the police do not have the resources to deal with the significant growth in the number of cyber attacks. Dr Simon Moores,....
Although the cryptocurrency has been a preferred payment method among Darknet vendors for some time, it looks like things are only getting worse. The dark web remains a premier marketplace for stolen credentials and other information these days. With the 2016 tax season in full effect in the US, scammers are collecting information at every possible turn. With the stolen information, criminals can commit tax refund fraud. Even people who aren’t bothered to steal the information themselves, buying the details from the deep web has become relatively easy these days. It is evident the 2016 US....
It seems like "bank grade security" doesn't really live up to its name. It was recently reported that the FBI offered a $3M reward for the suspected masterminds behind the GameOver Zeus botnet; a botnet that stole over $100M by acquiring the banking credentials of it's victims. Another report recently revealed that up to $1 billion were stolen from 100 banks in 2013. Is an all-out cyber war on banks incoming? We saw Ben Lawsky pointing out how dangerous cyber criminals can be for banks in a speech he gave at Columbia Law School. "We are concerned that within the next decade, or perhaps....