Bittrex Target of Latest $1 Million Crypto SIM Hack Lawsuit

Crypto exchange Bittrex is being sued over a SIM swap that netted criminals 100 bitcoin, currently worth nearly $1 million. The case resembles other recent high-profile heists in which a hacker seizes control of a victim’s cell phone to then loot online crypto accounts: the swap was from cellular carrier AT&T, money was taken from […]

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Reggie Middleton Reaches $9.5 Million SEC Settlement Over ICO Fraud

The U.S. Securities and Exchange Commission (SEC) said it has reached a settlement with Reggie Middleton, organizer of the fraught $14.8 million Veritaseum (VERI) initial coin offering (ICO). In a filing with the New York Eastern District Court, dated Oct. 31 and published today, Middleton agreed to the consent decree of the final judgment, without having […]

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Crypto Capital Principal Indicted on Fraud, Confirming Bitfinex Allegations

Crypto Capital principal Oz Yosef was indicted on three criminal counts by the U.S. Attorney’s Office of the Southern District of New York Wednesday, Oct. 23, confirming statements made by Bitfinex’s general counsel Stuart Hoegner Friday. According to court documents, Yosef, aka Oz Joseph, has been indicted on conspiracy to commit bank fraud, bank fraud […]

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Hackers Launch Widespread Botnet Attack on Crypto Wallets Using Cheap Russian Malware

With millions of dollars cryptocurrency stolen from crypto wallets every year, security researchers were surprised to find one active botnet being run for about $160. The bargain Trojan malware is called MasterMana Botnet, which uses mass mailing to send phishing emails with attachments containing malicious code to crypto investors. Once someone clicks on the email, the […]

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Crypto Sleuthing Firm Elliptic Raises $23 Million in Fundraise Led by SBI

Blockchain forensics firm Elliptic has raised $23 million in a Series B funding round led by Tokyo-based financial institution SBI Holdings. Announced Wednesday, the funding will help drive Elliptic’s Asia expansion, which includes a recently opened Singapore office and one in Japan that will open this week. Tomoyuki Nii, executive officer for overseas investment at […]

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25-Year-Old to Plead Guilty to Running Unlicensed Crypto Exchange

A 25-year-old man from Westwood, Los Angeles, is said to plead guilty to federal charges for having exchanged up to $25 million in cash and crypto without a license and anti-money laundering program. Kunal Kalra, also known as “Kumar,” “shecklemayne” and “coinman,” was indicted on Friday for allegedly trading cash and crypto for individuals including drug […]

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Trading Firms Propose ‘Bad Actors Blacklist’ to Clean Up Crypto Industry

A group of cryptocurrency trading firms has come together to discuss ways to prevent the rising number of hacks and scams in the industry. Ripple, market maker Cumberland, Michael Novogratz’s Galaxy Digital Holdings and over 30 other firms met at a recent round-table event in Chicago for the initiative, Bloomberg reported Thursday. Creating a list […]

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Crypto Crime May Have Cost Sector $1.2 Billion in Q1, Says Report

Losses arising from cryptocurrency hacks and fraud may have reached as high as $1.2 billion in the first quarter of the year, new research from blockchain analytics firm CipherTrace suggests. The total figure includes over $356 million lost from exchanges (including QuadrigaCX’s $195 million) and over $850 million alleged to have been lost from the Bitfinex […]

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Malware Crypto Ransoms Rose By Almost 90% in Q1: Report

The average cryptocurrency payout for ransomware attacks rose dramatically in the first quarter of 2019, according to a firm that helps victims pay ransoms. In its quarterly report, Coveware said that, while in Q4 last year the average ransom was $6,733, it shot up by 89 percent to $12,762 in the first three months of 2019. The […]

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