Coinbase agreed to a $100 million settlement with the New York financial regulator on Wednesday over cybersecurity lapses and failure to comply with anti-money laundering guidelines that allowed criminals to use the platform for fraud, money laundering and other illicit activities.
A class action lawsuit against LastPass alleges that a data breach in August resulted in the theft of $53,000 in bitcoin. An unnamed plaintiff alleges that negligence in the password management company's data security practices led to the Thanksgiving weekend theft.
Authorized payment scams are on the rise, and banking regulators are putting pressure on financial institutions to do more to protect customers. The biggest challenge is that the customers are driving the process, says Bradley Haacke, vice president and financial crimes director at Fifth Third Bank.
The latest edition of the ISMG Security Report analyzes why Meta has agreed to pay $725 million to settle a class-action lawsuit over users' personal data, how the median stock price dropped 40% among publicly traded security firms in 2022, and why an infrastructure change is needed in SOCs.
A member of a criminal data breach forum that tried to sell the email addresses of 400 million Twitter users to CEO Elon Musk last month has now posted the stolen data for anyone to download for free. The 63GB of data includes names, handles, creation dates, follower counts and email addresses.
Hundreds of U.S. counties continue to work with pen and paper after a cyberattack on their digital records management vendor last week disrupted methods to view, add and edit government records. The attack slowed the processing of birth certificates, marriage licenses and real estate transactions.
Acquiring Area 1 Security has allowed Cloudflare to extend its network protection capabilities from DDoS attacks to phishing emails, says co-founder and CEO Matthew Prince. Area 1's technology means customers will enjoy a better rate of detection with fewer false positives than legacy offerings.
Rail and locomotive company Wabtec Corp. notified customers about a data breach that exposed some individuals' personal and sensitive information. Ransomware-as-a-service group LockBit posted the data on its leak site after the company refused to pay a $30 million ransom.
Arizona has long been a leader in leveraging IT and providing digital services, but across the state and country alike, new challenges are emerging in the wake of the pandemic, and with them come new threats and risk factors, including remote work security, says Ryan Murray, deputy state CISO.
Britain's The Guardian newspaper has asked staff to continue working from home until Jan. 23 as the company continues to resolve issues with its network, which was compromised by ransomware hackers in December. The attack affected on-premises infrastructure but left cloud-based systems unscathed.
The U.S. attorney in New York has established a task force to trace and recover funds missing from FTX and manage probes related to the firm's collapse. The team comprises prosecutors with expertise in securities and commodities fraud, money laundering and asset forfeiture and cybersecurity.
Rackspace says the ransomware-wielding attackers who disrupted its hosted Microsoft Exchange Server environment last month wielded a zero-day exploit, described by CrowdStrike as being "a previously undisclosed exploit method for Exchange," to gain remote, direct access to servers it hosted.
The BlackCat ransomware-as-a-service group created a spoofed website closely mimicking the website of a victim in order to spread stolen data online. The victim is a small U.S. accounting firm whose stolen files apparently include tax returns and passport scans.
U.S. banking regulators warned banks to be wary of cryptocurrencies, writing in a joint statement that digital assets on decentralized networks are "highly likely to be inconsistent with safe and sound banking requirements." The missive comes after a volatile year for cryptocurrency.
Former cryptocurrency billionaire Sam Bankman-Fried entered a "not guilty" plea in Manhattan federal district court Tuesday. He faces up to 115 years in prison if found guilty on all counts. Bankman-Fried has been out on $250 million bail in home detention with his parents in California.
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