The Biden administration reportedly intends to ramp up efforts to trace cryptocurrency payments.
Cybercrime is a crime made on/against computers and/or a network. Computers and networks may be both a tool or a target of an attacker. Cryptocurrency cybercrimes and Bitcoin-oriented cybercrimes are now an inseparable part of the industry. Cryptocurrency allows cybercrimes like hacking, phishing and various scamming schemes. There were a lot of notable cryptocurrency thefts with the latest cybercrime cases being the Coincheck hack (with $400 million worth of NEM tokens stolen in 2018) and NiceHash (with $60 million stolen). Cybercrimes also may be performed within the blockchain, like the infamous DAO event, where $50 million worth of Ethereum was taken by the hacker and led to the hard fork of the whole platform. Different types of wallet services for altcoins are one of the main targets of cybercrimes, as a flaw in the system gives hacker access to multiple accounts.
Cryptocurrencies represent far less of a market for criminals compared to traditional finance, so crypto bans won’t solve the problem.2595
Coinbase CSO says ‘good ol’ fashioned police work’ landed the FBI the private keys.10379
Government officials did not specify the exact method used to seize the funds from the ransomware group.29199
The U.S. president has rarely made public statements on crypto and blockchain, though officials in his administration are reportedly reviewing current regulations.27765
Hackers will keep hacking as long as organizations are vulnerable — crypto is not an exception.20211
The SEC has taken action against a Californian man for fraudulently offering insider stock trading tips on a darknet marketplace.10360
U.S. Congress subcommittee says that bank reporting methods led to Capitol attack arrests but worries that Bitcoin might have helped fund the insurrection.8797
The proceeds of crypto crime fell by more than $5 billion in 2020, due to increasing regulatory compliance by crypto exchanges and declining scams.6800
The private sector invests enormous resources to help the government combat crypto crimes, U.S. Treasury Secretary Janet Yellen said.9840
BuyUCoin initially denied the reports of a data breach, but added that all user funds are safe.12011
The Assistant Commissioner of the City of London Police said the partnership with Komainu would help in “denying criminality the proceeds of crime."5265
Investigators reportedly identified the individuals by tracing the crypto exchange accounts used to launder the funds.8967
Despite the crypto industry experiencing a major rise in mainstream interest in 2020, the year also saw many prominent crypto personnel apprehended by regulators.9791
Major figure in Justice Department's cyber work is out from the policy office, but no word on where she's heading next.3476