We’ve been watching GPU prices fall since the start of the year, but the past few weeks suggest things could get a lot worse — for the graphics card manufacturers and GPU vendors, that is — in the near future. GPU prices dropped 15% in May, and we’ve seen similar 10–15% drops each month for the…

Cybercrime is estimated to cost the world more than $10 trillion annually by 2025. If measured as the GDP of a country, that would represent the third biggest economy in the world after the U.S. and China. That shows that not only should governmental institutions and banks invest in cybersecurity but private corporations as well. In…

One of the challenges for the crypto industry is how many blockchains there are and how complex it is to move across them. This has led to the growth of bridges for people to send tokens across chains. But these bridging tools have come under attack by hackers, leading to major losses. Because crypto has become…

The FBI and Justice Department recently disrupted the activities of a hacking group that was sponsored by the North Korean government and that targeted U.S. hospitals with ransomware. The FBI and Justice Department recently disrupted the activities of a hacking group that was sponsored by the North Korean government and that targeted U.S. hospitals with ransomware,…

The FBI recently issued a warning to consumers about fraudulent crypto applications that have scammed 244 victims out of about $42.7 million since Oct. 2021. “The FBI has observed cyber criminals contacting US investors, fraudulently claiming to offer legitimate cryptocurrency investment services, and convincing investors to download fraudulent mobile apps, which the cyber criminals have used…

After a brutal few months for the price of Ethereum’s native token, Ether (ETH) has gone on a run. ETH is up over 41% in the last seven days, and is currently trading at around $1,555, according to CoinGecko. The token has climbed as high as $1,610 in the last 24-hours. This upward movement is the result…

Decentralised finance is blockchain applications that cut out intermediaries from financial products and services like loans, savings and swaps. It has its rewards but also carries plenty of risks. DeFi fundamentally uses blockchain technology to unlock value that traditional finance cannot. Rather than trusting a middleman like a bank or a fintech firm with their…

Arguably no piece of software has been more central to the most recent crypto craze than MetaMask. With tens of millions of users, the digital wallet system has become the main access point to Ethereum, the blockchain that has given rise to stablecoins like Tether, play-to-earn games like Axie Infinity, metaverses like Decentraland, and NFT…

A falling stock market is not bad for everyone. Sure, many investors lose out as their portfolios decline in value, but those who are just starting to invest or have underweighted equities can benefit from lower valuations, which tend to deliver higher returns over the long term. Naturally, equity markets do not fall without reason. As…

Celsius filing for bankruptcy this week surprised virtually no one. Once a platform freezes customer assets, it’s typically all over. But even though it was expected, it remains a really big deal for the industry. In October 2021, CEO Alex Mashinsky said the crypto lender had $25 billion in assets under management. Even as recently…

Microsoft has raised an alert over a ransomware gang that is apparently based in North Korea and has successfully compromised small business since September 2021. Microsoft Threat Intelligence Center (MSTIC) is tracking the group as an emerging threat under the tag DEV-0530 and says the ‘H0lyGh0st’ payload has affected small businesses in multiple countries over…

Securities and Exchange Commission Chair Gary Gensler called out cryptocurrency lending companies for offering unrealistic yields today in an interview with Yahoo Finance. “If it’s too good to be true, then maybe it is,” Gensler said, referencing yields on crypto deposits ranging anywhere from 4% to 20% that were offered by numerous companies and marketed towards…

The decline in the value of cryptocurrencies has created a cash rush that is pushing many underground exchanges to their breaking point. According to research from security company Cybersixgill, cybercriminals are looking to protect their pilfered funds by moving them from cryptocurrencies to fiat currencies, forcing some prominent underground exchanges toward bankruptcy. Operating on the dark web…

Sri Lanka has warned its citizens against using cryptocurrency, which it said is “largely unregulated” amid an ongoing political chaos in the South Asian nation. The country’s central bank, CBSL, said Tuesday it does not consider cryptocurrencies as legal tender in the country and reminded the country that it has not given license or other authorization…

With more than $1 trillion in cryptocurrency value wiped out since the 2021 high-water mark, many investors may be tempted to enter the cryptocurrency orbit at a potentially attractive, lower price point. After all, previous dramatic drawdowns in cryptocurrency valuations have been followed by explosive growth — and all this volatility could be justified as…

GitHub Actions and Azure virtual machines (VMs) are being leveraged for cloud-based cryptocurrency mining, indicating sustained attempts on the part of malicious actors to target cloud resources for illicit purposes. “Attackers can abuse the runners or servers provided by GitHub to run an organization’s pipelines and automation by maliciously downloading and installing their own cryptocurrency…

Hacks against decentralized finance protocols have increased almost eightfold when compared to the first quarter of last year, according to DeFi bug bounty platform Immunefi. In Q1 of this year alone, over $1.22 billion has been identified as having been stolen or rugged from budding protocols. That’s a 7.9 times increase when compared to some $154.6…

For most crypto investors, there is nothing more important than making a return on their investment. Thanks to the volatility, this can be done quickly or it can be a hugely difficult task. That’s why crypto airdrops are an inexpensive way to make additional returns on your portfolio. After all, airdrop tokens are free and…

A recently published policy brief from the United Nations recommended developing nations take action against crypto, warning of risks associated with leaving the industry unregulated. In the document titled “All that glitters is not gold,” first published in June, the United Nations Conference on Trade and Development (UNCTAD) stated the disadvantages posed to these nations by…

The Responsible Financial Innovation Act introduced on Jun 7, 2022 includes a comprehensive regulatory framework for digital assets and seeks to provide clarity in how digital assets, such as cryptocurrencies, are treated under US securities law. The lynchpin of the bill is the codification of the US Supreme Court’s decades-old standard for determining when a…

Use of so-called cryptocurrency “mixers,” which combine various types of assets to mask their origin, peaked at a 30-day average of nearly $52 million worth of digital currency in April, representing an unprecedented volume of funds moving through those services, researchers at cryptocurrency research firm Chainalysis found. A near two-fold increase in funds sent from illicit…

Snap is considering a plan to let its members use the app to showcase non-fungible tokens (NFTs), joining the ranks of other social media companies using digital collectibles to woo influencers to their platforms. Snap is readying a test feature that would let NFT artists showcase their designs on Snapchat as augmented reality (AR) filters, the…

A cryptocurrency wallet service provider serving more than 2 million users worldwide and managing about $3 billion worth of Bitcoin was found to contain API vulnerabilities tied to how external authentication logins were implemented. The bugs are fixed, but the discovery illustrates the high stakes involved in implementing APIs securely, researchers say — and the difficulties…

Celsius Network, the troubled crypto lender, “is deeply insolvent,” alleged the U.S. state of Vermont’s Department of Financial Regulation (DFR), noting the lender lacks the assets and liquidity to honor its obligations to account holders and other creditors. “Celsius deployed customer assets in a variety of risky and illiquid investments, trading, and lending activities,” the…

Regarding cryptocurrency cybercrimes and attacks, North Korea is a notable region with increased activities. Many groups are posing high threats through their attack on some crypto protocols. Also, a report in June disclosed that North Korea has 7 million active hackers. Many stolen funds running into millions of dollars have been traced back to the…

Global cryptocurrency exchange Binance is under the spotlight as a report claims it continued serving Iranian clients despite a company ban and economic sanctions against the country. According to an investigative report from Reuters, individuals inside the country continued to trade on Binance after the company itself had shifted Iran onto a blacklist of jurisdictions in…

If you took the collateral out of decentralized lending, you’d have something not only potentially useful, but scalable into the real economy. So said the Bank for International Settlement (BIS) in June. The problem is, that requires taking the decentralization of decentralized finance (DeFi), because it would require a trusted intermediary to vet lenders. But the whole…

The first known non-fungible token was a short video clip minted on May 3, 2014. Since then, NFTs have grown rapidly from amusing trifles to serious stores of value. In 2021, a work by the artist Beeple sold for a whopping $69.3 million. That was just a portion of the estimated $40 billion valuation of…

Cybercriminals have begun coming up with ways to exploit the unexpected rise in value and importance of cryptocurrencies in their hunt for more profitable schemes. Malware that mines cryptocurrencies has become a popular way to earn money and is a viable alternative to ransomware. Cybercriminals have turned to utilize a variety of tools and strategies aimed…

Uniswap has become the latest victim of a phishing attack, which have become a trademark scheme by crypto hackers in 2022. This time, Uniswap’s V3 liquidity pool (LP) suffered an exploit in which NFT positions worth approximately $8.1 million were illicitly acquired. To trick the pool provider into signing malicious transactions, the hacker group impersonated Uniswap’s…

Decentralized finance (DeFi) has ballooned into a booming industry that demonstrates some of the efficient and creative possibilities of the crypto industry. Tens of billions of dollars in crypto assets today are locked in DeFi, a significant increase from 2021. One reason it continues to grow is the appeal of “yield farming,” a strategy that leverages…

Cryptocurrencies are a volatile investment today, but card companies including Visa Inc. and Mastercard Inc. are betting crypto will one day be used routinely for everyday purchases from food to clothes to plane tickets—and they don’t want to be left behind when that happens. Consumers now can make payments with cryptocurrencies linked to Visa and…

Researchers have disclosed what they say could be an attempt to kick-off a new large-scale cryptocurrency mining campaign targeting the NPM JavaScript package repository.  The malicious activity, attributed to a software supply chain threat actor dubbed CuteBoi, involves an array of 1,283 rogue modules that were published in an automated fashion from over 1,000 different…

Bitcoin (BTC) faces a new selling threat in the near future as users of defunct exchange Mt. Gox prepare to get their BTC back. In fresh correspondence dated July 6, attorney Nobuaki Kobayashi, appointed trustee in the Mt. Gox rehabilitation process, confirmed that he was “preparing to make repayments” to account holders. Over eight years after…

Devin, the founder of a cryptocurrency startup based in San Francisco, woke up one day in February to the most bizarre phone call of his life. The man on the other end, an FBI agent, told Devin that the seemingly legitimate software developer he’d hired the previous summer was a North Korean operative who’d sent tens…