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On Tuesday, Ethereum (ETH) bridging and scaling solution Aurora announced it had paid out a $6 million bounty to ethical security hacker pwning.eth, who discovered a critical vulnerability in the Aurora Engine. The exploit allegedly placed over $200 million worth of capital at risk. The sum was paid in collaboration with Immunefi, a leading platform…
The latest “crypto winter,” which sent the values of Bitcoin and other digital currencies plummeting, served as a healthy reminder that cryptocurrencies are highly risky investments. But that risk is by no means limited to price volatility. Should the company holding your crypto assets declare bankruptcy or otherwise be unable to meet its financial obligations, you…
Ethereum just completed its first big dress rehearsal for a long-awaited makeover that will be its most significant overhaul since the digital currency was launched nearly a decade ago. Cryptocurrencies such as ethereum and bitcoin are often criticized for the process of mining to generate new coins. Both currently use a so-called proof-of-work mining model, involving…
Russia, probably more than any other leading power, launches cyberattacks against other countries as a matter of routine. Sometimes, Russian cyberattacks accompany military action, as in the current war in Ukraine. At other times, Moscow uses cyberattacks to disrupt or weaken societies, for instance during the 2016 US Presidential election. Russia also uses its formidable…
After the digital asset boom in 2021, the market has reversed course this year as investors shed positions in cryptocurrencies and NFTs amid a broader bear market and a slate of high-profile cyber-attacks in the sector. The crypto market has cratered from its peak valuation of $3 trillion in November to $1.3 trillion this week.…
PayPal has been granted a full BitLicense from the New York Department of Financial Services, the company announced in a press release. This makes PayPal the first company to trade in a conditional BitLicense for the real thing. New York introduced its BitLicense in 2015 as a way to regulate businesses that provide customers with the…
Stablecoins traded in the U.S. state of New York should be fully backed by certain assets, with these assets segregated from the issuers’ operational funds and attested to by an auditor regularly, according to new guidance issued by the state’s banking and finance regulator. The New York Department of Financial Services (NYDFS), which oversees regulated…
The broadcast of the Football World Cup 2022 qualifier game between Wales and Ukraine on Sunday was interrupted in Ukraine by a cyberattack that targeted OLL.TV, a Ukrainian online broadcasting platform. Victor Zhora, deputy head of the State Service of Special Communications and Information Protection of Ukraine, or the SSSCIP, stated in a press briefing that…
Disruptive DDoS attacks against critical infrastructure and government targets have been increasingly prevalent since the beginning of Russia’s invasion of Ukraine. Infosec experts have observed a surge in global DDoS activity in recent months. The Cybersecurity and Infrastructure and Security Agency (CISA) issued a warning about these types of attacks from Russian threat groups in…
After years of data breaches, leaks, and hacks leaving the world desperate for tools to stem the illicit flow of sensitive personal data, a key advance has appeared on the horizon. On Tuesday, MongoDB is announcing “Queryable Encryption,” a feature that will allow database users to search their data while it remains encrypted. The tool, which…
Sens. Kirsten Gillibrand and Cynthia Lummis introduced the first major bipartisan legislation aimed at taming the “Wild West” crypto market on Tuesday that would classify digital assets as commodities like wheat or oil and empower the Commodity Futures Trading Commission to rein in the nascent industry. Gillibrand, a Democrat from New York who sits on the…
Proper supply chain management is critical to smooth business operation, agility and profitability. Beyond coordination, resilience is a key quality required for supply chain management. Covid-19 related supply chain disruptions have affected most industries. Vast numbers of companies across the globe experienced troubles during Covid-19, impacting shipment timing, costs, efficiency and revenues. These impacts highlight…
Many companies have withdrawn from Russia to protest Russia’s invasion of Ukraine. So far, major cryptocurrency exchanges in the U.S. have resisted, saying they won’t do it unilaterally. This is a principled stand, and it is consistent with the guiding ethos of the cryptocurrency community. After all, these markets serve as an alternative to those…
Unlike any other time in history, the past decade has shown us the power of technology to transform our working and personal lives. Technology-enabled shopping, banking and working from any location made the restrictions from COVID-19 more manageable. We are also getting a hint of the power that big data, AI and machine learning will…
The Bored Ape Yacht Club (BAYC) Discord server was hacked Saturday, with the attacker making off with 200 ETH ($360,000) worth of non-fungible tokens (NFT), according to Yuga Labs. The hack took place after the project’s community manager, Boris Vagner, had his Discord account compromised, which the attacker then used to post phishing links in…
Chris Chapman used to own one of the most valuable commodities in the crypto world: a unique digital image of a spiky-haired ape dressed in a spacesuit. Mr. Chapman bought the nonfungible token last year, as a widely hyped series of digital collectibles called the Bored Ape Yacht Club became a phenomenon. In December, he listed…
In September 2020, a North Korean hacking group known as Lazarus broke into a small Slovakian crypto exchange and stole virtual currency worth some $5.4 million. It was one of a string of cyber heists by Lazarus that Washington said were aimed at funding North Korea’s nuclear weapons programme. Several hours later, the hackers opened at…
As the state of New York pushes forward a bill that will ban proof-of-work (PoW) mining once approved, members of the crypto community express their disagreement through social media. In a Twitter thread, Jake Chervinsky, the head of policy at Blockchain Association, explained that the move will not “reduce carbon emissions” at all. According to Chervinsky,…
From Super Bowl ads to Bitcoin ATMs, cryptocurrency seems to be everywhere lately. Although it’s yet to become a mainstream payment method, reports to the FTC show it’s an alarmingly common method for scammers to get peoples’ money. Since the start of 2021, more than 46,000 people have reported losing over $1 billion in crypto…
Russia is failing in its mission to shake Ukraine’s cyber resilience as the country continues to successfully thwart cyber-attacks from its oppressor. That was the takeaway from WithSecure’s Sphere conference this week, as chief research officer Mikko Hyppönen told attendees that Putin’s regime is “largely failing”. During the event, held in Helsinki, Finland, Mikko shared insight into…
What’s the best way to stop ransomware? Make it riskier and less lucrative for cyber criminals. Nearly all intruders prefer to collect a ransom in cryptocurrency. But it’s a double-edged sword since even crypto leaves a money trail. Recovering ransomware payouts could lead to a sharp decline in exploits. Ransomware is still today’s top attack type,…
In 2017, the Canadian technology firm Sandvine merged with a Silicon Valley rival, Procera Networks. Both companies sold a powerful internet monitoring tool called deep packet inspection technology that can manage network traffic, block malware and spam and — more controversially — be used by national governments to censor the web. Following the merger, Sandvine…
We first heard about the potential of blockchain in supply chains several years ago, and almost immediately were thrust into a cycle of hype and hope of what they could do for us, followed by a “trough of disillusion” when nothing moved as fast as we had wanted. But that doesn’t mean startups, enterprise and…