VeChain Foundation Hacked for $6.5M in VET Token Theft
A VeChain buyback wallet containing 1.1 billion VET was compromised by an unknown hacker, the firm said Friday. Source
Read More
Theft
IBM Files A Blockchain Patent For Fighting Package Theft By Drone
IBM has filed for a patent of a system that uses blockchain technology to prevent drone-enabled package theft.According to a filing published by the United States Patent and Trademark Office (USPTO) on Nov. 12, IBM will track drone altitude using an Internet of Things (IoT) altimeter, while continuously uploading
Read More
South Korean Crypto Exchange UPbit Admits 342K ETH (~$50M) Theft
UPbit, South Korean cryptocurrency exchange, has recently posted a statement on its official website, confirming a cyberattack that resulted in the robbery of approximately $50 million in virtual assets. The statement was posted on 27th November, when UPbit informed users about the suspension of its services related to deposit and
Read More
Crypto-Related Fraud and Theft Resulted in $4.4B Loss in 2019
In 2019, the total volume of cryptocurrency-related fraud and theft resulted in losses worth $4.4 billion, according to CipherTrace’s report for the third quarter of 2019.In its “Cryptocurrency Anti-Money Laundering Report, 2019 Q3,” security research firm CipherTrace delved into the 120 most popular cryptocurrency exchanges’ compliance with Know Your
Read More
Crypto Exchange Upbit Confirms Theft of $49M in Ether
In fact, more than $100 million worth of multiple cryptocurrencies have been sent out from Upbit today. However, the exchange said all other transactions, apart from the abnormal ethereum outflow, were the exchange moving cryptos from hot wallets to cold wallets to prevent their theft. Source
Read More
Investigation Suggests Russian Involvement in Crypto Exchange Theft of $450M in Bitcoin
A BBC investigation has revealed a potential link between Russia’s Federal Security Bureau (FSB) and the recent shutdown of the cryptocurrency exchange WEX.Alexei Bilyuchenko, who confessed to be the tech administrator of the infamous BTC-e crypto exchange and later co-founder of WEX, claimed that he had been engaged by the
Read More
Bittrex Exchange sued for Alleged Involvement in $1M Bitcoin Theft
Gregg Bennett, a Seattle-based angel investor and bitcoin ‘hodler’ has dragged Bittrex cryptocurrency exchange to court for allegedly aiding a SIM swap attack that allowed hackers to steal his 100 BTC ($923,700). Bennet alleges that he exchange failed to promptly take action when it was first notified of the hack,
Read More
Lawyer Asks Whether KYC Is Worth Exposing Users to Hacking and ID Theft
In the aftermath of the recent BitMEX data leak, lawyer and general counsel at decentralized finance startup Compound Finance Jake Chervinsky raised the question of whether exposing the public to data risks that Know Your Client (KYC) requirements entail is worth it.It is about time we reconsider KYCIn a
Read More