Crypto Hacks Plummet to $24.7M in December, Marking 2024’s Lowest Monthly Loss: Reports

Key Takeaways: Crypto hack losses dropped to $24.7 million in December 2024, the year's lowest, reflecting a 71% decline from November’s $85.53 million, likely due to stronger security measures. Despite this improvement, 165 Web3 attacks caused $2.3 billion in losses for 2024, a 40% rise from 2023, though $1.3 billion was recovered using advanced forensics.…

January 2, 20250Comments

ByDaniel Nwokolo

News

South Korea Sanctions 15 North Koreans Over Cyber Attacks, Crypto Thefts

Key Takeaways: South Korea sanctioned 15 North Koreans and one organization for laundering stolen cryptocurrency funds. The sanctions target Bureau 313, tied to weapons programs, and hackers linked to the Lazarus Group. Authorities froze assets and urged exchanges to monitor activities, strengthening global cybersecurity efforts. South Korea has imposed sanctions on 15 North Korean individuals…

December 26, 20240Comments

ByDaniel Nwokolo

News

SBI VC Trade Acquires DMM Bitcoin Assets Following $320M Cyberattack

Key Takeaways SBI VC Trade will acquire DMM Bitcoin’s assets after a May 2024 cyberattack. Investigators linked the $320 million bitcoin theft to North Korea’s TraderTraitor group. The transfer, scheduled for March 2025, will ensure seamless account migration and improved security. SBI VC Trade, a Japanese cryptocurrency asset management company, announced it will acquire the assets…

December 26, 20240Comments

ByDaniel Nwokolo

News

iDenfy Achieves SOC II Certification to Bolster US Data Security

iDenfy, a global RegTech company specializing in Know Your Customer (KYC), Anti-Money Laundering (AML), and Know Your Business (KYB) solutions, has achieved SOC II certification to reinforce its commitment to data security amid growing cybersecurity threats in the United States. The announcement follows an independent audit that validated iDenfy’s compliance with SOC II’s rigorous standards.…

December 10, 20240Comments

ByDaniel Nwokolo

Altcoins Featured News Technology

Microsoft Defender Fails to Stop Malware in NFT Gaming App, Research Shows

Safety Detectives researchers found security flaws in Microsoft Defender, Windows' built-in antivirus software, while investigating malware in an NFT game, according to a company report. The research, documented in the video “Microsoft Defender vs Malware: Is It Enough in 2024?”, revealed how the malware bypassed two-factor authentication (2FA) and compromised user systems, resulting in cryptocurrency…

November 21, 20240Comments

ByLucas K.

Technology

KuCoin Partners with Bugcrowd to Launch the Bug Bounty Program, Providing Users a Safer Trading Environment

In a strategic move to bolster its cybersecurity, KuCoin, a top global cryptocurrency exchange, has teamed up with Bugcrowd, the leader in crowdsourced cybersecurity. Together, they have rolled out a robust bug bounty program designed to enhance the security of KuCoin's trading platform. Enhancing Security with Strategic Collaboration Identifying Key Vulnerabilities: KuCoin and Bugcrowd are focusing…

May 7, 20240Comments

ByZoran Spirkovski

Opinion

How Cryptocurrency and Cybersecurity Connect

By Danny Lopez, CEO of Glasswall Since its creation in 2009, cryptocurrency has operated as a decentralized, self-managed method of payment for users who wanted to retain some level of anonymity. As of November 2021, there are an estimated 7,557 cryptocurrencies on the market. While once relatively unheard of, cryptocurrencies are no longer…

January 27, 20220Comments

ByGuest Post

Altcoins

$31 Million Tether Hack Reignites Fears Over Crypto Security

On November 19th, hackers breached Tether’s core treasury wallet and stole $31 million worth of its USDT currency. This theft is one of the largest to-date of a cryptocurrency. The Tether team acted quickly to neutralize the stolen coins, and no individual investors appear to have been victims. Nevertheless, this action has caused grave concern…

November 27, 20170Comments

ByTrevor Smith