September 10, 2024 at 10:33AM The FBI’s annual report on crypto-related cybercrime highlights a grim reality, with over $5.6 billion in losses in the US in 2023, a 45% increase from the previous year. Those aged 60 and over are the most vulnerable, falling victim to investment scams promising huge returns from cryptocurrency. The FBI … Read more
August 19, 2024 at 04:20PM In the first half of 2024, ransomware victims paid $459.8 million, setting the stage for a new record if payments continue. This is 2% higher than 2023, despite law enforcement operations disrupting ransomware-as-a-service. Large organizations are targeted for larger payments and data theft. Ransomware payment inflows have increased, but total … Read more
July 11, 2024 at 06:55PM In 2023, the cryptocurrency industry saw a surge in cybercrime, with ransomware attacks, money laundering, and stolen funds being prevalent. Despite a decrease in money laundering, the value of stolen funds decreased, and cryptocurrency scams remained significant. Darknet markets showed signs of recovery but didn’t reach previous revenue levels. Vigilance … Read more
July 8, 2024 at 03:22PM Cybersecurity is a growing concern in today’s digital age, especially with the rise of cryptocurrencies leading to an increase in crypto-crimes. Chainalysis’s 2024 report outlines the impact of crypto-crimes in 2023, including the drop in illicit transactions but a rise in ransomware and darknet market activities. Sanctions-related transactions were prominent, … Read more
June 27, 2024 at 04:36AM A 22-year-old Russian national was indicted in the U.S. for cyber attacks against Ukraine prior to Russia’s invasion in 2022. Amin Stigal, linked to Russian military intelligence, used a wiper malware called WhisperGate. In a separate case, Remy St Felix, a Florida man, was convicted for violent home invasions to … Read more
June 26, 2024 at 02:52PM Remy St Felix, a 24-year-old leader of an international robbery crew, was convicted in the US for carrying out violent home invasions to steal cryptocurrency tokens. He led the gang in stealing hundreds of millions of dollars’ worth of crypto through kidnappings and terrorizing wealthy victims. St Felix faces a … Read more
February 23, 2024 at 01:16PM The LockBit ransomware gang collected over $125 million in ransom payments through more than 500 active cryptocurrency addresses between July 2022 and February 2024. Approximately 2,200 Bitcoin remain unspent, equating to more than $110 million. The group’s impact is estimated to be in the multi-billions, prompting global law enforcement efforts. … Read more
February 8, 2024 at 10:03PM The US government has presented a $5 million reward for Hive ransomware gang members, reinforcing an existing $10 million reward. The FBI has added a $5 million reward for information leading to arrests. Following the FBI’s control of the gang’s network, decryption keys were provided to over 1,300 victims, preventing … Read more
October 26, 2023 at 12:21PM A recent report on crypto crime found that ransomware attacks are increasing in prevalence, targeting major industries such as casinos, manufacturing, retail, and technology. Organizations must take specific steps to address these attacks, including understanding the threat, identifying internal signs of attack, and strengthening infrastructure. Utilizing threat intelligence and effective … Read more