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Kim Jong-un says North Korea ready to mobilize nuclear forces

In a claim made at a Korean War anniversary event, Kim Jong Un announced North Korea is ready to mobilize its nuclear war deterrent and is fully ready for any military confrontation. There are concerns that North Korea is preparing for a seventh nuclear test, one that the US has warned could be conducted at…
Nicaraguan opposition leader Suazo sentenced to 10 years in prison

According to the Nicaraguan Center for Human Rights, Nicaraguan opposition leader Yubrank Suazo has been sentenced to 10 years in prison. The opposition leader had participated in the protests in 2018 against the government of President Daniel Ortega. The announcement of his prison sentencing was made on Wednesday. Suazo was sentenced to five years in…
NFT Projects Lost $22M to Largely the Same Hackers on Discord: Reports

Two Web3 security firms have issued reports focused on the recent scourge of hacks targeting NFT projects, likely by a linked group of hackers using compromised Discord server administrator accounts. According to a recent analysis by TRM Labs, cyber attacks against NFT collections have steadily risen in 2022, costing the NFT community over $22 million in…
DeFi Has Become Crypto Crime’s Main Arena, Crystal Blockchain Says

More than $14.5 billion in crypto has been lost to hacks and scams since 2011, and DeFi (decentralized finance) is attackers’ new favorite target, says analytics firm Crystal Blockchain. In the past 11 years, there have been 167 hacks of DeFi protocols and 123 security breaches on centralized exchanges, according to Crystal’s new report. While…
The regulatory risk in Ethereum’s new security model

Ethereum, the world’s second-biggest blockchain, is switching to a new security model that at least one legal expert claims could raise an issue with profound repercussions for the cryptocurrency market. Why it matters: If ether (ETH), the coin that runs Ethereum, is found to be a “security” by the Securities and Exchange Commission, it’s hard to…
What is Cryptojacking? Why did it surge by 269% in 2022?

Hacks and scams aren’t new to the crypto-verse. Ill doers have shown no mercy despite the gruesome bear market. They have in fact adopted new and innovative ways to pocket easy money. One such method that seems to have taken the front stage in 2022 is cryptojacking. While the term isn’t as popular as other…
Source code for Rust-based info-stealer released on hacker forums

The source code for an information-stealing malware coded in Rust has been released for free on hacking forums, with security analysts already reporting that the malware is actively used in attacks. The malware, which the author claims to have developed in just six hours, is quite stealthy, with VirusTotal returning a detection rate of around 22%.…
Phishing Attacks Skyrocket with Microsoft and Facebook as Most Abused Brands

Phishing attacks impersonating Microsoft have increased by 266% in Q1 compared to Q1 of 2021. Microsoft, Facebook, and French band Credit Agricole are the brands most commonly used by malicious actors to conduct phishing attacks, according to a study of phishing released by researchers at Vade Tuesday. Phishing attacks leveraging the Facebook brand are up…
Data Breach Costs Reach New Record High

The average cost of a data breach is now stands at a record $4.35 million, representing a 13% increase on 2020 figures. IBM released its annual Cost of a Data Breach Report that is now in its 17th year of publication. The report was based on interviews with 550 different organizations spanning 17 different countries,…
US Doubles Reward for Info on North Korean Hackers

The US government has ramped up the reward for providing information pertaining to North Korean state-linked hackers to $10 million, which may indicate that its efforts thus far have proved unsuccessful. In March of 2022, the State Department’s Rewards for Justice scheme announced a $5 million reward for information, meaning that the award has since…
Voters give president near unchecked power in Tunisia

There have been new powers given to the country’s president in Tunisia after a vote that critics say risks the return of authoritarian rule. Less than a third of Tunisians voted in the referendum but almost 95% of those who did vote supported the powers being handed to President Kais Saied. Opposition groups boycotted the…
Poland to buy hundreds of South Korean tanks, howitzers after sending arms to Ukraine

Poland is going to buy almost 1,000 tanks, over 600 pieces of artillery and dozens of fighter jets from South Korea to replace the equipment donated to Ukraine during the Russian invasion. The agreement will be officially announced in Poland on Wednesday. 980 tanks and 648 self-propelled K9 armored howitzers and 48 FA-50 fighter jets…
The Nine Largest Crypto Hacks in 2022

Hackers exploited a software bug in the Web3 music platform Audius to make off with $1.1 million on Saturday, but the funds are a drop in the nearly-$2 billion dollar bucket of funds lost to hacks through the first half of 2022, according to Blockchain security firm Beosin. The fiat value of hacked assets are on…
CFTC Announces New Tech Innovation Office to Oversee Crypto

The regulator which could soon be responsible for more of the US’s crypto oversight is beefing up its technology team, the agency’s chief said on Monday. The Commodities and Futures Trading Commission (CFTC), which stands to gain greater authority over digital assets under the proposals of a bipartisan congressional bill, is setting up a new Office…
How governments seize millions in stolen cryptocurrency

There have been so many recent multimillion-dollar cryptocurrency thefts that it’s easy to lose track. Organized crime, bad cybersecurity, financially motivated spies, and colorful criminals of all kinds have made so many headlines that even huge heists can go mostly unnoticed by the public. But sometimes the government is able to get it back. Last…
Amid the hype, they bought crypto near its peak. Now, they cope with painful losses

For Michelle Milkowski, who lives in Renton, Washington, one thing led to another. Because her son’s daycare closed in the early days of the pandemic, she had some extra cash. So, like millions of other people, Milkowski downloaded the Robinhood trading app. Back then, the stock market was at the beginning of what would become…
Coinbase under investigation after outburst against SEC

Just days after the leading U.S. crypto exchange admonished the SEC for inserting itself into an ongoing case of insider trading prosecuted under wire fraud, the company appears to find itself the subject of an investigation by Gary Gensler’s powerful agency. Citing three people familiar with the matter, Bloomberg reported that the SEC is looking…
T-Mobile to Pay $350m Settlement in Breach Case

T-Mobile has agreed to pay $350 million over class action claims related to a cyberattack that occurred in 2021. The cyberattack impacted roughly 80 million US residents, according to the Securities and Exchange Commission (SEC). The SEC explained that the money will be used to fund claims submitted by class members, as well as legal…
Global Malware Volumes Increase for First Time in Three Years

According to a mid-year update to the SonicWall’s 2022 SonicWall Cyber Threat Report, global malware volumes have increased for the first time in three years. In the first half of 2022, the company reported that ransomware volumes shrunk by 23%, however, overall malware surged by 11% during the same period. The report is based on…
Indian Insurance Portal Policybazaar Suffers Breach

Policybazaar, an Indian insurance company, has announced that it suffered from a data breach due to illegal and unauthorized access that occurred on July 19. The company’s owner, PB Fintech, stated that the identified vulnerabilities have since been mitigated and that a thorough audit has begun. At this time, it does not appear that any…
Didi slapped with $1.1B fine for breaching China data security laws

Didi Global, a Chinese ride-sharing operator, has been fined roughly $1.18 billion for allegedly breaching China’s cybersecurity and data security laws due to collection of passenger data. According to the Cyberspace Administration of China (CAC), Didi Global violated the country’s data security laws via 16 illegal practices. The practices may have also been in violation…
US urges China to condemn Myanmar

Following the military junta’s execution of democracy activists in Myanmar, the US has requested China to pressure Myanmar. China responded by saying it does not interfere in other countries’ internal affairs while the US believes China could influence Myanmar more than any other country. In Myanmar, the men were executed after the junta stated they…
Bangladesh seeks $4.5bn IMF loan as forex reserves shrink

Bangladesh joined its South Asian neighbors Pakistan and Sri Lanka in seeking help with the increasing pressure on their economies. Bangladesh has requested a $4.5bn loan from the International Monetary Fund for balance of payments and budgetary needs, along with efforts to address climate change. The Finance Minister A H M Mustafa Kamal wrote to…
Cryptocurrencies & Blockchain Make Inroads Into Energy Markets, For Good And For Bad

In June, the FBI warned the public of a LinkedIn scam where users were lured into making significant investments in fraudulent cryptocurrencies. After trust was established, victims were convinced to move investments to controlled sites before they had their accounts drained. This cyber scam was only notable for how stolen cash was subsequently used: purchasing…
10 countries that banned cryptos calling them threats, ponzi schemes & more

Cryptocurrencies have caught the imagination of investors apart from tech enthusiasts – in a very short period of time. Now, there are as many as 20,000 such currencies in circulation. Yet, most governments tend to view it with suspicion, and a few have even gone ahead and banned them. As per the Law Library of…
Cryptocurrency flowing into “mixers” hits an all-time high. Wanna guess why?

The amount of cryptocurrency flowing into privacy-enhancing mixer services has reached an all-time high this year as funds from wallets belonging to government-sanctioned groups and criminal activity almost doubled, researchers reported on Thursday. Mixers, also known as tumblers, obfuscate cryptocurrency transactions by creating a disconnect between the funds a user deposits and the funds the user…
Hacker drains $1.08M from Audius following passing of malicious proposal

Proposals in crypto help communities make consensus-based decisions. However, for decentralized music platform Audius, the passing of a malicious governance proposal resulted in the transfer of tokens worth $6.1 million, with the hacker making away with $1 million. On Sunday, a malicious proposal, Proposal #85, requesting the transfer of 18 million Audius’ in-house AUDIO tokens was…
Crypto Firms Make Thieving Hackers an Offer: Keep a Little, Give Back the Rest

Some cryptocurrency platforms that have watched millions of dollars vanish in digital heists have made an unusual pitch to their attackers: Keep some of it, but give back the rest. The pleas amount to last-ditch entreaties to convince hackers to return most of the stolen funds. Victims have offered as much as $10 million in these…
FBI investigation determined Chinese-made Huawei equipment could disrupt US nuclear arsenal communications

According to the FBI, Chinese products by Huawei could disrupt US nuclear arsenal airwaves. The issue originates from a 2017 deal in which the Chinese government offered to spend $100 million to construct a Chinese garden at the National Arboretum in Washington DC. The garden would hopefully attract thousands of tourists every year. However, when…
Medical Device Maker to Pay $13m in False Claims Case

Berlin-based Biotronik, a medical device manufacturer, has agreed to pay a multimillion dollar settlement due to healthcare fraud allegations claiming that the company violated the False Claims Act. The company produces technologies for patients suffering from cardiovascular diseases and is based in Oregon. The Department of Justice claims that the firm paid certain physicians to…
UK Seizes Nearly $27m in Crypto-Assets

The UK National Crime Agency has reported that it seized millions of pounds’ worth of cryptocurrency last year. The announcement was revealed in the latest annual report released by the agency in which it describes its efforts to crack down on money laundering and organized crime. The agency has been dedicated to serious and organized…
Adversaries Employ ‘Cyber Mercenaries’

An emerging organization called the Atlantis Cyber-Army is currently offering a range of services including exclusive data leaks, DDoS, and RDP. The cybercriminal group operates on a for-hire basis and is seeking to recruit cyber-mercenaries that conduct specific illicit activities that are pieces of larger cyber campaigns. The group has been observed by security researchers…
Cyber-Attacks on Port of LA Double

According to a new report, the Port of Los Angeles has seen a drastic increase in cyberattacks since the start of the pandemic. One of the world’s busiest ports, the Port of Los Angeles is suffering from 40 million attacks each month. Security intelligence shows that the majority of the threats are originating from Russia…
EU approves smallpox vaccine for use against monkeypox

The World Health Organization declared the spread of monkeypox a global health emergency. Shortly after the declaration, the European Union has approved a smallpox vaccine for use against monkeypox. The Commission extended the market authorization for the vaccine, known as Imvanex, to treat monkeypox in addition to smallpox. The approval is valid in all EU…
Russian investigator says 92 Ukrainians charged

92 members of the Ukrainian armed forces have been charged with crimes against humanity by Moscow. Alexander Bastrykin, the head of Russia’s investigative committee has stated that over 1,300 investigations have begun into war crimes committed by Ukrainian troops. Bastrykin proposed an international tribunal that is supported by Iran, Syria and Bolivia. In addition to…
What CMOs Need To Know Now About Web 3, Metaverse, Crypto, Digital Wallets And NFTs

The digital world is in a profound state of evolution that is both overhyped and underappreciated. Many of the enabling technologies are not well-understood by marketing leaders which is leading to mixed responses to these emerging capabilities. Is it time to jump in and redeploy marketing resources? Or should I wait while others learn lessons…
Radware Employs Blockchain Technologies to Thwart Bots

Radware this week revealed it added blockchain technologies to its Bot Manager platform to thwart attacks designed to evade completely automated public Turing tests to tell computers and humans apart—better known as CAPTCHA challenges. Dr. David Aviv, CTO for Radware, said that while a CAPTCHA challenge can be an effective way to determine if an application…
OpenSea Debuts Solana NFT Launchpad to Lackluster Demand

In an apparent attempt to match rival Magic Eden’s feature set, OpenSea has rolled out its new launchpad feature for minting new Solana NFT projects. However, the leading NFT marketplace’s first drop on the launchpad has been far from a sizzling success from the start. Zoonies, an alien-themed Solana NFT profile picture project, debuted on OpenSea’s…
Ethereum Merge? Get Ready for the ‘Surge, Verge, Purge, and Splurge’, Says Vitalik Buterin

Vitalik Buterin wants you to know that Ethereum is just 40% complete—and there’s plenty more coming after the “merge.” At the Ethereum Community Conference in France Thursday, the Ethereum co-founder shared his vision for future developments well beyond the network’s move to proof of stake. In fact, the move—often referred to as “the merge,” because it…
Cryptocurrency’s first insider trading scheme leads to 3 being charged

A former employee of the cryptocurrency exchange platform Coinbase and two others were charged by the U.S. Securities and Exchange Commission for alleged insider trading valued at more than $1.1 million, according to a lawsuit filed Thursday in U.S. District Court in Seattle. Prosecutors said this is the first insider-trading case involving cryptocurrency markets, the Seattle…
EU launches infringement procedures against UK over N. Ireland

Four new infringement procedures have been launched by the European Union against the United Kingdom. The procedures are being launched due to a failure to comply with parts of the protocol governing trading arrangements with North Ireland after Brexit. The infringements committed relate to customs requirements, excise duties, duties on alcohol and EU regulations on…
Forces raid anti-government protest camp in Sri Lanka

The main anti-government protest camp in Sri Lanka’s capital was raided by security forces on Friday. In the raid, protestors were arrested and tents were dismantled. Hundreds of police and troops raided the camp house before the protestors were due to move to a different area. Nine people were arrested, with two injured in the…
Ukraine grain export deal reached with Russia, says Turkey

The deal to allow the exportation of Ukrainian grain through the Black Sea will be signed on Friday in Istanbul by Ukraine, Russia, Turkey and UN Secretary General Antonio Guterres. There has been a world shortage of Ukrainian grain since Russia’s invasion began and has left millions of people at risk of going hungry. Food…
China fines Didi $1.2 billion for violating cybersecurity and data laws

Didi Global was fined over 8 billion yuan by China’s cyberspace regulator on Thursday due to violations of cybersecurity and data laws. This decision was reached after a year-long investigation into the company. The Cyberspace Administration of China found that the company had breached the personal information protection law in addition to the cybersecurity and…
Looming Legal Issues in Cryptocurrency Bankruptcies

The U.S. bankruptcy system is getting its first experience dealing with cryptocurrency businesses. It’s impossible to identify every possible novel cryptocurrency issue in bankruptcy in advance, but several are likely to arise: the treatment of custodial funds; the treatment of collateral held by cryptocurrency lenders that go bankrupt; avoidance actions; the treatment of collateralized crypto…
Blockchain security experts uncover two popular scam projects with millions laundered

With the alarming rate of scams in the crypto industry, blockchain security company PeckShield has raised the alarm about Freedom Protocol and Raccoon Network as scams. The industry-leading blockchain security company called out the two crypto protocols in a Twitter thread, revealing their fraudulent actions. Freedom Protocol refers to itself as the highest paying auto-staking…
Blockchain.com Cuts 25% of Its Workforce Amid Crypto Bear Market

Blockchain.com is laying off 25% of its workforce in order to cut expenses during tough market conditions, the company said on Thursday. The news was first reported by CoinDesk, which said around 150 employees will lose their jobs, taking the exchange’s headcount to the same level it was at the start of the year. A Blockchain.com spokesperson…
Cryptocurrency regulation is changing. Here’s what you need to know

Recent regulatory advances, including the release of the Markets in Crypto-Assets (MiCA) provisional agreement in the EU and the release of the Framework for International Engagement on Digital Assets in the US, signal a desire to provide regulatory clarity in this space. In the future, the adoption of cryptocurrencies and stablecoins will most likely be…
Zipmex suspends withdrawals as CEO denies financial trouble rumors

Thai cryptocurrency exchange Zipmex has paused withdrawals on its platform following a “combination of circumstances” beyond its control. Cointelegraph reports that Zipmex could be in trouble were dismissed as “rumors” by CEO and co-founder Marcus Lim following the failed acquisition of the Thai exchange by Coinbase. Coinbase made an offer to acquire the Thai cryptocurrency exchange…
Ukraine Faces Shortfall in Weapons as It Gears Up for First Major Counteroffensive

The Ukrainian military is gearing up for a new offensive along the southern front, looking to reclaim regions near the Black Sea coast. This area is critical to the country’s security and economy. However, the country is facing a weapons shortage that is impacting its ability to fight off Russian forces and recapture territory seized…
Magecart Supply Chain Attacks Hit Hundreds of Restaurants

Security researchers have identified two seperate Magecart campaigns that target online ordering platforms. The campaigns are designed by the attackers for financial gain and the Magecart e-skimming software possesses the ability to exfiltrate card details. So far, the campaign has affected at least 311 US restaurants by injecting the software into three platforms. The platforms,…
Cyber Safety Review Board classifies Log4j as ‘endemic vulnerability’

The Cyber Safety Review Board (CRSB) has recently classified the Log4j security vulnerability as endemic, meaning that it will likely linger and cause issues for years. The report was released earlier this month, and pertains to the security flaw that is relatively easy to exploit. The Log4j vulnerability was discovered in December 2021 and has…
FBI warns of phony cryptocurrency apps aiming to steal money from investors

The Federal Bureau of Investigation has released an advisory warning cryptocurrency investors and firms to be wary of fraudulent cryptocurrency apps that aim to steal money from victims. The advisory was released on Monday of this week and claims that cybercriminals have been convincing US investors to download fake apps, thus leading to financial losses…
Flaws in a popular GPS tracker could allow hackers to track or stop vehicles, say security researchers

Security researchers have warned that security vulnerabilities that exist in popular GPS tracker MiCODUS MV720 can be hacked by threat actors, presenting a serious security risk. The flaw could be leveraged to track vehicle fleets by critical infrastructure, governments, and emergency services around the world. In addition, serious cases could result in the threat actor…
Key Russian pipeline resumes pumping gas to Europe

Despite warnings that Russia would curb or halt supplies all together, the country has resumed pumping gas to Europe through the Nord Stream 1 pipeline. The pipeline restarted after a 10 day maintenance break, although it is flowing at a reduced level. The European Commission urged European countries to cut gas use by 15% over…
Italian Prime Minister Mario Draghi resigns as coalition collapses

Italy is the European Union’s third-largest economy and is now in political turmoil as Prime Minister Mario Draghi re-submitted his resignation to President Sergio Mattarella on Thursday. Three parties in the coalition government, the 5-star movement, Forza Italia, and League all boycotted a confidence vote on Wednesday night. Mattarella accepted Draghi’s resignation and will be…
SEC should go after ‘big fish’ crypto exchanges, US lawmaker says

The Securities and Exchange Commission should be going after crypto exchanges that offered XRP, the chairman of the House investor protection subcommittee said Tuesday. In an oversight hearing closely watched by supporters of Ripple and the XRP cryptocurrency, California Rep. Brad Sherman questioned SEC Enforcement Director Gurbir Grewal on why the agency isn’t investigating exchanges that…
Security Service of Ukraine Shuts Down Crypto Mining Farm Near Front Line in Kharkiv

Ukraine’s main law enforcement agency has busted an illegal facility mining cryptocurrencies in the Kharkiv region. The operators of the crypto farm have been minting coins using large amounts of stolen electricity, threatening energy supply to critical infrastructure, the agency said. Officers from the Security Service of Ukraine (SBU) have discovered and closed down an underground…
Hacking group ‘8220’ grows cloud botnet to more than 30,000 hosts

A cryptomining gang known as 8220 Gang has been exploiting Linux and cloud app vulnerabilities to grow their botnet to more than 30,000 infected hosts. The group is a low-skilled, financially-motivated actor that infects AWS, Azure, GCP, Alitun, and QCloud hosts after targeting publicly available systems running vulnerable versions of Docker, Redis, Confluence, and Apache. After gaining…
PREMINT NFT Tool hacked, $500,000 May Have Been Stolen from Users

The cryptocurrency market has been in a bear market since the beginning of the year, and most projects have lost massive value. However, despite the bear market, hackers have not shied away from the sector, and millions of dollars have been stolen from the cryptocurrency market this year. The latest hack in the sector was on…