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Canadian Police Seize Bitcoin Worth $28 Million From Former Government Employee in Ransomware Case

Canadian Police Seize Bitcoin Worth  Million From Former Government Employee in Ransomware CaseCanada’s police have seized bitcoin worth more than $28 million from a former government employee who has been extradited to the U.S. to “face charges for dozens of ransomware attacks resulting in the payment of tens of millions of dollars in ransoms.” Canadian Authority Seizes Bitcoin Worth $28 Million The U.S. Department of Justice (DOJ) […]

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Business Advisory Firm Expects Criminal Cryptocurrency Transactions to Fall by 30% by 2024

Business Advisory Firm Expects Criminal Cryptocurrency Transactions to Fall by 30% by 2024Gartner, an advisory firm, has predicted that criminal cryptocurrency transactions or transfers will fall by 30% by 2024. The firm says factors such as the transparency of the blockchain, as well as the democratization of fraud prevention tools, will contribute to this decline in such transactions. Blockchain Transparency Despite the surge in the value of […]

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South Africa Ransomware Attack: Justice Department Denies Receiving 50 BTC Ransom Demand

South Africa Ransomware Attack: Justice Department Denies Receiving 50 BTC Ransom DemandSouth Africa’s Department of Justice and Constitutional Development (DOJCD) has denied claims that it has received a 50 bitcoin ransom demand from hackers that attacked its systems on September 6, 2021. Reports of Ransom Demand Deemed ‘Completely Untrue’ Instead, the DOJCD insists that its tech experts, “industry partners and selected organs of state have been […]

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Biden Administration Expanding Cryptocurrency Analysis to Find Criminal Transactions

Biden Administration Expanding Cryptocurrency Analysis to Find Criminal TransactionsThe U.S. government is expanding its cryptocurrency analysis in a strategy to find and pursue criminal transactions. This comes in the wake of a rising problem of ransomware involving cryptocurrency, such as bitcoin. “Combating ransomware is a priority for the administration,” said a spokesperson for the White House. US Government to Expand Cryptocurrency Analysis The […]

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Report: Colonial Pipeline Paid $5M Worth in Crypto to Ransomware Gang, Restarts Services

Report: Colonial Pipeline Paid M Worth in Crypto to Ransomware Gang, Restarts ServicesThe global oil market was shaken by news from the United States as a ransomware attack hit the largest oil infrastructure operation in the country. A recent report claims hackers asked Colonial Pipeline to pay for an undisclosed amount in ransom to unlock the firm’s system – a demand the company allegedly fulfilled. Darkside Gang […]

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