Cryptocurrency Analysis and News Portal
The U.S. government sanctioned a crypto exchange for the first time last week, escalating its fight against ransomware and proclaiming that crypto regulation will not be free of enforcement actions.The other major storyline last week came from China, which once again announced it was taking on crypto activities, this time
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The U.S. Department of the Treasury has taken actions targeting cryptocurrency exchanges “responsible for laundering ransoms” as part of the whole-of-government effort to counter ransomware. One cryptocurrency exchange has already been sanctioned along with related crypto addresses. “We will continue to crack down on malicious actors,” said Treasury Secretary Janet
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The United States Department of the Treasury has announced it will impose sanctions on the Czech Republic and Russia-based business Suex OTC for allegedly allowing hackers to access cryptocurrency sent as payment for ransomware attacks.In an advisory update issued on Tuesday, the Treasury Department Office of Foreign Assets Control, or
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The U.S. government plans to issue guidance and impose sanctions in an ongoing effort to tamp down on ransomware attacks.The Wall Street Journal reported Friday the Joe Biden administration is planning an array of actions to mitigate ransomware attacks, with a focus on payments. The Treasury Department will announce these
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Some U.S. Senators are ramping up the anti-crypto rhetoric again, urging federal agencies to take action against the illicit use of digital assets.Democrat Senator Maggie Hassan is the latest to raise concerns about the use of cryptocurrency as a means of payment for ransomware attacks.The Senate Homeland Security and Governmental
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Ransomware, malicious software that encrypts computers and keeps them “locked” until a ransom is paid, is the world’s fastest-growing cyber threat, according to Coinfirm. Recent attacks on critical national infrastructure, like the Colonial Pipeline incursion that crippled oil and gas deliveries for a week along the U.S. East Coast, have
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“Ultimately, however, ransomware is a cybersecurity issue, and the best protection is prevention, best practices, improved defenses and resilience,” he said. “While financial regulation can help with detection and slow the spread or speed the pursuit, we need to make it harder to happen, not just harder to pay. Not
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Government and industry have teamed up to fight a major increase in ransomware, with a newly formed ransomware task force calling for new measures to more aggressively trace Bitcoin and crypto capital flows.The task force includes law enforcement including FBI and U.S. Secret Service agents working alongside representatives of leading
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In October 2019, unknown hackers infiltrated a Canadian insurance company by installing the malware BitPaymer, which encrypted the firm’s data and IT systems. The hackers demanded a ransom of $1.2 million be paid in Bitcoin (BTC) in return for the decryption software needed for the firm to regain access to
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BleepingComputer claims to have evidence that the ransomware gang DoppelPaymer is demanding 404 BTC from the car firm. Source
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