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Chainalysis alerts rise in crypto hacks and ransom in 2024

Cryptocurrency hackers have been returning to their roots to targeting centralized exchanges amid a spike in the Bitcoin price in 2024.

A new report indicates that while overall illicit transactions in cryptocurrency markets declined in 2024, certain types of crypto-related criminal activity rose.

Aggregate illicit activity in crypto has dropped 19.6% year-to-date (YTD), falling from $20.9 billion to $16.7 billion by July 2024, according to the first part of the mid-year crypto crime update by Chainalysis released on Aug. 15.

Chainalysis found that legitimate crypto activity has been growing faster than illicit activity onchain in 2024, particularly due to positive industry events like the adoption of spot Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs) in the US.

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Bybit fully restores withdrawal system following biggest crypto hack of all time

‘Comrades in Crime’ – New Research Shows Russian-Speaking Actors Account for Most Ransomware Crypto Attacks

‘Comrades in Crime’ – New Research Shows Russian-Speaking Actors Account for Most Ransomware Crypto Attacks

New research from TRM Labs shows that Russian-speaking actors play the largest role in most crypto-related cybercrimes. According to a TRM Report, the crypto-enabled cybercrimes include darknet drug sales, illicit crypto exchange activity, and ransomware schemes. “Ransomware: Russian-speaking ransomware groups accounted for at least 69% of all crypto proceeds from ransomware in 2023, exceeding USD […]

The post ‘Comrades in Crime’ – New Research Shows Russian-Speaking Actors Account for Most Ransomware Crypto Attacks appeared first on The Daily Hodl.

Bybit fully restores withdrawal system following biggest crypto hack of all time

FBI Seizes Cryptocurrency Linked to North Korean Ransomware

FBI Seizes Cryptocurrency Linked to North Korean RansomwareA grand jury in Kansas City indicted North Korean national Rim Jong Hyok for his role in a conspiracy involving ransomware attacks on U.S. hospitals and healthcare providers. The group laundered cryptocurrency proceeds and used the funds for further cyber intrusions into global defense, technology, and government entities. The ransomware attacks disrupted patient care and […]

Bybit fully restores withdrawal system following biggest crypto hack of all time

2 Foreign Nationals Plead Guilty in Lockbit Ransomware Case

2 Foreign Nationals Plead Guilty in Lockbit Ransomware CaseTwo foreign nationals pleaded guilty in Newark federal court regarding their participation in the Lockbit ransomware organization, the U.S. Department of Justice (DOJ) revealed on Thursday. Russian citizen Ruslan Magomedovich Astamirov and Mikhail Vasiliev, a dual citizen of Canada and Russia, were identified as members of the Lockbit group. Active since January 2020, this group […]

Bybit fully restores withdrawal system following biggest crypto hack of all time

Tokyo-Based Crypto Exchange Coincheck to List on Nasdaq Through Merger

Tokyo-Based Crypto Exchange Coincheck to List on Nasdaq Through MergerCoincheck, a Japanese cryptocurrency exchange, has made a public filing to list Coincheck Group B.V. on Nasdaq through a De-SPAC transaction with Thunder Bridge Capital Partners IV Inc. This follows an earlier announcement from March 22, 2022, detailing plans by Monex Group Inc., Coincheck’s parent company, for the listing. After the listing, Coincheck will become […]

Bybit fully restores withdrawal system following biggest crypto hack of all time

US Sanctions Lockbit Leader in Ransomware Crackdown

Tokyo-Based Crypto Exchange Coincheck to List on Nasdaq Through MergerOn May 7, the U.S. announced sanctions against Dmitry Yuryevich Khoroshev, a key figure in the Lockbit ransomware group. The U.S., alongside international allies including the UK and Australia, has taken coordinated measures to curb the activities of this prominent cybercriminal group. Khoroshev, responsible for developing and deploying Lockbit ransomware, is now facing an indictment […]

Bybit fully restores withdrawal system following biggest crypto hack of all time

Bitcoin ransomware Akira drains $42M from more than 250 companies: FBI

The U.S. FBI found that the Akira ransomware group has been targeting businesses and critical infrastructure entities in North America, Europe and Australia since March 2023.

Akira, a year-old ransomware group, breached more than 250 organizations and extracted approximately $42 million in ransomware proceeds, top global cybersecurity agencies alerted.

Investigations conducted by the United States Federal Bureau of Investigation (FBI) found that Akira ransomware has been targeting businesses and critical infrastructure entities in North America, Europe and Australia since March 2023. While the ransomware initially targeted Windows systems, the FBI recently found Akira’s Linux variant as well.

The FBI, along with Cybersecurity and Infrastructure Security Agency (CISA), Europol’s European Cybercrime Centre (EC3) and the Netherlands’ National Cyber Security Centre (NCSC-NL), released a joint cybersecurity advisory (CSA) to “disseminate” the threat to masses.

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Bybit fully restores withdrawal system following biggest crypto hack of all time

US Government Sanctions Two Russian Nationals’ Crypto Wallets Related to Ransomeware Group LockBit

US Government Sanctions Two Russian Nationals’ Crypto Wallets Related to Ransomeware Group LockBit

The US government is sanctioning the crypto wallets believed to belong to two Russian nationals linked to the ransomware group LockBit. In a statement, the Treasury Department’s Office of Foreign Assets Control (OFAC) says that it has sanctioned several Bitcoin (BTC) and Ethereum (ETH) wallets linked to the group. According to a press release, the […]

The post US Government Sanctions Two Russian Nationals’ Crypto Wallets Related to Ransomeware Group LockBit appeared first on The Daily Hodl.

Bybit fully restores withdrawal system following biggest crypto hack of all time

Ransomware Makes Comeback With Over $1,000,000,000 Extorted in 2023, According to Chainalysis

Ransomware Makes Comeback With Over ,000,000,000 Extorted in 2023, According to Chainalysis

New data from market intelligence platform Chainalysis reveals that ransomware attacks resurfaced in 2023, extorting over $1 billion from investors throughout the year. In a new blog post, Chainalysis says that 2023 saw a rise in the number of ransomware attacks across the board – and the firm believes it’ll only increase. “Ransomware payments in […]

The post Ransomware Makes Comeback With Over $1,000,000,000 Extorted in 2023, According to Chainalysis appeared first on The Daily Hodl.

Bybit fully restores withdrawal system following biggest crypto hack of all time

BlackBerry reveals top crypto-focused malware amid rising cyberthreats

When it comes to Blackberry’s list of the most prevalent malware families, SmokeLoader, RaccoonStealer (also known as RecordBreaker) and Vidar top the charts.

In the process of stopping over 1.5 million cyberattacks between March to May, the cybersecurity arm of the defunct smartphone goliath BlackBerry identified malware families that actively try to hijack computers to mine or steal cryptocurrencies.

The three industries most affected by cyberattacks are finance, healthcare and government, according to the BlackBerry report. A commodity malware named RedLine is one of the long-standing financial threats — tasked with harvesting information including cryptocurrency and banking information.

The three industries with the highest distribution of stopped cyberattacks and stopped unique/different samples during this period. Source: BlackBerry

Clop ransomware — a variant of the CryptoMix ransomware family — was a common threat that specifically targeted banking and financial institutions. This malware was responsible for the data breach of fintech banking platform Hatch Bank.

When it comes to Blackberry’s list of the most prevalent malware families, SmokeLoader, RaccoonStealer (also known as RecordBreaker) and Vidar top the charts. SmokeLoader is one of the oldest rogue financial tools from 2011, which has primarily been used by Russian-based threat actors to load crypto miners among other malware.

RaccoonStealer has been used to steal cryptocurrency wallet data and is being reportedly sold across the dark web. Vidar also is being widely used to harvest cryptocurrency wallets.

Linux was the biggest target out of all operating systems, and BlackBerry advised organizations to apply security patches regularly. Hackers target Linux to hijack and use computer resources for mining cryptocurrencies. A new strain of infostealer named Atomic macOS (AMOS) targets macOS users, primarily used to collect credentials from keychains, browsers, and crypto-wallets among others.

Related: SEC adopts cyberattack disclosure rules, listed crypto firms included

OpenAI, the creator of ChatGPT and Dall-e, recently announced a $1 million cybersecurity grant program to enhance and measure the impact of AI-driven cybersecurity technologies.

OpenAI cybersecurity grant program. Source: OpenAI

“Our aim is to foster the advancement of AI-driven cybersecurity capabilities for defenders through grants and additional assistance,” stated OpenAI, in its official announcement.

Magazine: Deposit risk: What do crypto exchanges really do with your money?

Bybit fully restores withdrawal system following biggest crypto hack of all time