Crypto crime is surging, with AI fraud, stablecoin laundering and ransomware evolution redefining illicit finance. Can regulators keep up?
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Crimes News
In the digital era, crimes have transcended physical boundaries, manifesting in various forms online. Online crimes encompass a broad range, from identity theft and phishing to credit card fraud, exploiting the vulnerabilities of internet users. Simultaneously, digital crimes involve unauthorized access, manipulation or theft of digital data, leading to data breaches and cyber espionage, posing significant threats to individuals and organizations alike.
Within this landscape, cryptocurrency crimes have emerged, leveraging the decentralized nature of digital currencies. For instance, ransomware attacks encrypt data and demand cryptocurrency payments for the decryption keys, while crypto fraud schemes use phony initial coin offerings (ICOs) or Ponzi schemes to trick unsuspecting investors. The illegal use of other people’s devices for unauthorized cryptocurrency mining is known as “cryptojacking.” Darknet markets allow for the anonymous exchange of cryptocurrencies between buyers and sellers, facilitating illicit trade.
Moreover, pump-and-dump schemes manipulate cryptocurrency prices for profit, showcasing the intricacies of this digital criminal landscape. Law enforcement agencies and cybersecurity experts collaborate to combat these offenses, emphasizing cybersecurity awareness and robust measures to safeguard against evolving threats in the online and crypto realms.
- Analysis
- News
Ben Zhou announced the launch of a bounty program after reporting hackers tied to North Korea used an exploit to steal more than $1.4 billion in crypto from Bybit.
8116 - Analysis
Lazarus Group has stolen over $6 billion in crypto since 2017, making it the most notorious hacking ring in the industry.
4693 - News
The North Korean cybercrime unit may be behind some of the recent memecoin rug pulls on Solana.
18188 - News
Bybit’s near $300 million Ether buy may contribute to a potential rally above the psychologically important $3,000 mark.
10149 - Expert Take
The record-breaking $1.4 billion Bybit hack displays the “increasingly creative exploits” seen in the crypto industry, Halborn’s co-founder told Cointelegraph.
5913 - Analysis
From rapid withdrawals to social media’s real-time breakdown, here’s how Bybit’s record-breaking $1.4 billion hack took shape.
5056 - News
Bybit’s assets fell by more than $5 billion after its $1.4 billion hack on Feb. 21, but independent audits confirm its reserves still exceed liabilities, ensuring full backing for user funds.
18768 - News
Onchain evidence following the $1.4 billion Bybit hack has linked North Korea’s Lazarus Group to the Phemex hack in January, according to ZachXBT.
23874 - News
The $1.4 billion hack was caused by similar attack vectors as the $230 million WazirX hack and the $58 million Radiant Capital hack, according to Cyvers.
16118 - News
FTX is set to repay $1.2 billion to creditors on Feb. 18, marking a key step in the exchange’s bankruptcy proceedings.
9458 - News
Scammers impersonating Saudi Arabia’s crown prince launched a fake KSA memecoin, exploiting investor enthusiasm for celebrity-backed tokens. Officials have confirmed the account was hacked.
3777 - News
Argentine President Javier Milei faces impeachment calls from political opponents after endorsing the cryptocurrency that turned into a $100 million rug pull.
4851 - News
BTC-e operator Alexander Vinnik was returned to Russia in a prisoner swap, exchanged for American teacher Marc Fogel.
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The acting US Attorney for the Southern District of New York reportedly resigned after the federal Justice Department directed her to halt a case against NYC Mayor Eric Adams.
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