cryptocurrency
7 articles tagged "cryptocurrency"
Coinbase Foresees Up to $400M Loss From Cybersecurity Breach
Coinbase is anticipating significant financial losses following a cyber attack that compromised customer account data. The exchange has vowed to reimburse affected users and strengthen security measures.
CDK Global Reportedly Paid $25 Million Ransom Following Cyberattack That Crippled 15,000 Car Dealerships
CDK Global reportedly paid $25 million in bitcoin to the BlackSuit ransomware group following a cyberattack that disrupted 15,000 car dealerships nationwide. The payment, tracked by blockchain intelligence firm TRM Labs, would mark the second-largest ransomware payment on record if confirmed. The attack forced CDK Global to shut down systems on June 19 after detecting multiple incidents, significantly impacting auto dealership operations across the United States before systems were restored by June 20.
CDK Global’s $25M Ransom Payment Highlights Cybersecurity Risks
CDK Global reportedly paid a $25 million ransom following a cyber attack that cost US dealerships an estimated $600 million in losses. This incident serves as a critical reminder of the vulnerabilities within the cybersecurity landscape.
CDK Global Likely Paid $25 Million Ransom After Cyberattack
CDK Global faced a severe cyberattack, prompting a likely $25 million ransom payment to attackers. The attack disrupted operations for many auto dealerships.
FinCEN Proposes New Rules to Combat Cryptocurrency Money Laundering Through International Mixing Services
FinCEN has proposed new rules requiring financial institutions to report transactions involving international cryptocurrency mixing services, citing money laundering concerns. The October 2023 proposal targets mixing services used by criminal organizations while limiting requirements to institutions directly handling crypto transactions. Public comments are due by January 22, 2024.
US Treasury Targets Cryptocurrency Mixers as Major Money Laundering Threat
The US Treasury plans to classify transactions with cryptocurrency mixers as a major money laundering concern, compelling additional oversight from financial institutions.
Euler Finance Hit by $195M Flash Loan Exploit on March 13
Euler Finance suffered a major flash loan attack, leading to a loss of approximately $196 million, the largest hack of 2023. The attack involved the theft of various stablecoins and wrapped tokens.