The Li Finance swap aggregator has experienced a smart contract exploit leading to the loss of around $600,000 from 29 users’ wallets. The exploit took place at 2:51 am UTC on Sunday. The attacker was able to extract varying amounts of 10 different tokens from wallets that had given “infinite approval” to the Li Finance protocol.…

On Monday night, Arthur Cheong—the founder of DeFinance Capital, a crypto-centric VC fund—had about $1.7 million worth of NFTs stolen from his wallet in what appears to have been a social engineering attack. “Well not sure what happened, need to take time to figure it out. Didn’t expect this to happen to me as well,” Cheong…

More than 22,000 miles above Earth, the KA-SAT is locked in orbit. Traveling at 7,000 miles per hour, in sync with the planet’s rotation, the satellite beams high-speed internet down to people across Europe. Since 2011, it has helped homeowners, businesses, and militaries get online. However, as Russian troops moved into Ukraine during the early…

US President Joe Biden has called on private companies and organisations in the US to “lock their digital doors”, claiming that intelligence suggests Russia is planning a cyber-attack on the US. The UK’s cyber-authorities are also supporting the White House’s calls for “increased cyber-security precautions”, though neither has given any evidence that Russia is planning a…

European Central Bank President Christine Lagarde said today that cryptocurrency is “certainly being used” as a means of evading international sanctions on the Russian Federation. However, industry experts may not be persuaded of that. Speaking at the Bank for International Settlements’ Innovation Summit on Tuesday, Lagarde, the president of the European Central Bank, stated that cryptocurrencies…

M, a Ukrainian engineer in his early 20s, is not healthy enough to enlist in the military. So every day, he sits down at his computer to do what he can as part of Ukraine’s IT army, an informal group of volunteer hackers whose job it is to wreak as much havoc on Russian websites…

FBI Director Christopher Wray on Tuesday warned the private sector to prepare for potential cyberattacks, saying U.S. agents were “particularly focused on the destructive cyber threat” from Russian agents. The FBI director spoke just a day after The White House warned companies to bolster defenses and prepare for potential cyberattacks with the Russian invasion of…

Fearing Russia’s elite will evade economic sanctions by converting their wealth to cryptocurrency, high-profile US Democratic senator Elizabeth Warren has introduced a bill into US Congress to stymie Russian crypto transactions. Warren warned a Senate committee hearing: So no one can argue that Russia can evade all sanctions by moving all its assets into crypto. But…

Democratic Senator Elizabeth Warren is seldom reserved with her distaste for the crypto industry. Name any common criticism of Bitcoin, and she’s probably shared it already: volatility issues, environmental damage, ‘shadowy super coders’, and what have you. I won’t claim that her criticisms are entirely invalid (though I’ll cover those later), but they’ve become predictable to the…

The current cyber dimension of the Russia-Ukraine conflict and how it may escalate were discussed by Ciaran Martin, founding CEO of the UK’s National Cyber Security Centre (NCSC), during the keynote address at the Infosecurity Magazine Online Summit – EMEA 2022. Martin began by noting that so far, “the cyber dimension has been quieter than many…

Russia’s aggression in Ukraine, and the condemnation and sanctions that ensued, highlight an economic risk to companies that do business in or with Russia or otherwise are economically tied to Russia or Russian companies. Sanctions on Russia and Russian businesses will affect those who associate with them, including companies outside of Russia. Regulators and shareholders alike…

Joe Biden has warned a Russian cyber attack on the US is coming and told business executives it is their “patriotic obligation” to strengthen their digital defences. “Today my administration issued new warnings that based on evolving intelligence Russia may be planning a cyber attack against us,” the president said at a meeting on Monday…

The impact of sanctions and the collapse of the Russian ruble after the invasion of Ukraine has some Russian banks turning to the crypto market for a boost. Like the biggest one. That is Sberbank, Russia’s largest lender, which just received a license from the central bank to issue digital assets to clients on Thursday. Sberbank said…

Shortly after Russia launched its invasion of Ukraine, the notorious Conti ransomware group issued a statement warning that it was prepared to hit the critical infrastructure of Russia’s enemies in retaliation for potential attacks on Russia. In response, an anonymous individual set up a Twitter account named “Conti Leaks” and started releasing files allegedly stolen from…

Britain and the United States have warned organisations of the risks associated with using satellite communications following a cyberattack on satellite internet modems as Russia invaded Ukraine. Western intelligence agencies have been investigating the attack which disrupted broadband satellite internet access provided by U.S. telecommunications firm Viasat, Reuters reported last week. “It’s certainly something we’re investigating quite…

Researchers are tracking a number of open-source “protestware” projects on GitHub that have recently altered their code to display “Stand with Ukraine” messages for users, or basic facts about the carnage in Ukraine. The group also is tracking several code packages that were recently modified to erase files on computers that appear to be coming…

The invasion of Ukraine by Russia and sanctions imposed on it for doing so and new pandemic-related shutdowns in China are the latest events to rock global supply chains. Combined with the China-U.S. trade war and other pandemics- and climate-related disruptions, it is certain to accelerate the movement by Western companies to reduce their dependency…

Cyberattack ransoms and cryptocurrency mining are unlikely to generate enough revenue to replace regular business activity in sanctioned nations, digital money experts and former law-enforcement officials told a U.S. Senate hearing Thursday. The amount of cash needed to operate a major economy far outstrips the ability of crypto markets to handle such volumes, witnesses said in…

Democratic U.S. senators introduced a bill on Thursday that would enable the president to sanction foreign cryptocurrency firms doing business with sanctioned Russian entities and prevent them from transacting with U.S. customers. The Digital Asset Sanctions Compliance Act is led by Senator Elizabeth Warren and co-sponsored by 10 other Democrats, including Senators Mark Warner and…

As the U.S. corporate world continues its withdrawal from Russia due to the invasion of Ukraine, a growing stigma against anything Russian is reverberating in Silicon Valley as tech start-ups and venture capital firms reassess their exposure and limit risks. DoorDash and GrubHub recently cancelled deals with now-shut U.S. food delivery start-ups launched by Russian founders.…

In the very first days that the Russia-Ukraine war started, I warned you about 10 Russia-Ukraine cons to expect. We’re already seeing evidence of those scams in action. Be sure you’re keeping your digital guard up. Smishing – the insider term for scam texts – is a popular route. Most people are less guarded scanning texts…

For Farshad Abasi, Russian cyberattacks against Canada are inevitable given Prime Minister Justin Trudeau’s decision to be an active participant in sanctioning Russia over its invasion of Ukraine. “They may already be happening and we don’t even know it,” said Abasi, chief security officer at Forward Security, a Vancouver-based cybersecurity company. “If they haven’t already, they…

Images of container ships unable to offload goods at ports in Los Angeles and Long Beach late last year were symbolic of the problems plaguing the supply chain in the wake of the pandemic. Not enough longshoreman, along with a shortage of truck drivers, meant products couldn’t get from ports to warehouses and then find…

In times of crisis, there is no good; there’s only a best course of action, given the circumstances. Is crypto good in the context of Russia’s invasion of Ukraine? Is it bad? Neutral? It’s a hard question to answer.Cryptocurrency is now a more mainstream part of the global financial system, which means that — for…

Seven percent of global cyberattacks target the United States, making it the most attacked country after Russia and Ukraine as of March 15th, 2022. A survey of users in Australia, Canada, Germany, the U.K. and the U.S. conducted by Surfshark found that one-third of respondents had suffered data breaches in the past. According to the study,…

Within one week of the Russian invasion of Ukraine, governments around the world passed some of the toughest and most coordinated sanctions in modern history. At breakneck speed, dealings with the Russian Central Bank and Russian travel to and through 33 countries’ airspace were banned, billion-dollar projects were stopped, many Russian banks were blocked from…

The current geopolitical climate and escalating crisis in Ukraine are amplifying concerns about the increased cyber threat to global supply chains that are already strained by the COVID-19 pandemic. This is perhaps the first time in history that the threat of cyber warfare is potentially just as devastating as the physical battle taking place on…