Crypto News 

Europol: Crypto-Ransomware Remains Most Prominent Cyber Attack

“Law enforcement succeeded in bringing down the ring, which sold fake notes on the dark web in return for Bitcoin (BTC)” writes Joeri Cant for cointelegraph.com. On Oct. 9, Europol presented its IOCTA report of the cybercrime threat landscape.The report adds: Europol further points out that different entities within the cryptocurrency ecosystem could be perceived as profitable targets for cybercriminals. Source: cointelegraph.com

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Crypto News 

UN Official: Cryptocurrency Makes Criminals Harder to Catch

“Australian news outlet ABC reported on Aug. 29 that Wals said cryptocurrencies make fighting cybercrime, money laundering and financing of terrorism harder” writes Adrian Zmudzinski for cointelegraph.com. Neil Wals, chief of the United Nations Office on Drugs and Crime Global Cybercrime Program, warned that cryptocurrencies have made combating money laundering significantly harder.Wals expressed the idea that criminals using crypto assets include global child sexual exploitation networks, which he says are more widespread than much of the public understands.He believes that cryptocurrencies add a layer of secrecy, which can facilitate crime.…

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News 

Australian Cybercrime Squad issues stark warning to digital currency exchanges

“As a result of these changes, the scope of the Act was expanded to include regulation of digital currency exchange providers” reports financefeeds.com. The NSW Police Force and the Australian Transaction Reports and Analysis Centre (AUSTRAC) have earlier today issued a rather stark message to digital currency exchanges regarding their obligations.The obligations of these entities comprise registering with AUSTRAC, verifying customer identity, reporting suspicious matters and over-threshold cash transactions; and complying with record-keeping requirements. “Digital currency exchange providers have had adequate time and opportunity to comply with these new laws and…

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Crypto News 

Trojans, Malware, and Sextortion Dominate Leading Trends in Bitcoin Cybercrime

“Here are some of the popular tactics used by these criminals to steal cryptocurrency online” writes Nick Omo for livebitcoinnews.com. Recently, Live Bitcoin News reported on Swiss authorities warning cryptocurrency exchange platforms of the emergence of modified e-banking trojans.With the fight against cryptojacking exploits gathering steam, hackers seem to be perfecting a new means of remotely hijacking computers for cryptocurrency mining. Source: livebitcoinnews.com

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Crypto News 

Friends Alleged to Have Ransacked Victim’s Home for Crypto Login Information

“Truglia informed police that his laptop, two mobile phones, and a thumb drive containing his crypto information were missing” writes Rebecca Campbell for livebitcoinnews.com. A 27-year-old man has reportedly been targeted by so-called friends after they forced him to reveal his crypto account login information when they pushed his head underwater.Just as money will continue to be used for money laundering, crypto will also be a lucrative money-making scheme for criminals. Source: livebitcoinnews.com

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Crypto News 

Cryptocurrency Theft: FBI Arrests Two Members of an Online Gaming Cybercrime Syndicate

“According to the Chicago Sun-Times, the FBI suspects a Bloomington resident and another from Dolton of being part of an online cybercrime syndicate that has stolen over $3 million in cryptocurrency” writes Nick Omo for livebitcoinnews.com. Unsealed court filings in Chicago show the arrest of two individuals believed to be part of an online cybercrime syndicate.The Bloomington resident told Federal Agents that he met the group online while playing “Call of Duty” – the popular first-person shooter game.The FBI says it suspects the group has stolen more than $3 million…

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Crypto News 

Emerging Field of Social Physics Shows Promise in Cybercrime Detection

“The paper discusses two concrete applications of social physics for the detection of cybercrimes” writes Irving Wladawsky-berger for wsj.com. Social physics is based on the premise that all event-data representing human activity contain a special set of group behavior patterns.However, social physics can be used to analyze such encrypted bitcoin blockchains looking for clusters of transaction that appear too correlated. “This is done by detecting Bitcoin transactions patterns that social physics dictates are highly unlikely to spontaneously emerge,” they write. Source: wsj.com

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WEF Recruits Russia’s Sberbank To Combat Cybercrime

“The World Economic Forum (WEF) has reportedly begun recruiting banks to combat cybercrime, beginning with Sberbank in Russia” reports pymnts.com. A press release sent to PYMNTS on Thursday (Aug. 23) said the WEF’s Centre for Cybersecurity (C4C) plans to recruit six financial institutions to collaborate on information sharing and technological cooperation in an effort to combat cybercrime in the financial services space.The C4C plans to develop a data exchange solution so financial institutions can share information about cyberthreats, create a global network to promote cooperation between computer emergency response teams,…

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Crypto News 

Cybercrime Center in UK Urges Crypto…

“In addition, they are training their police force in the intricacies involved in dealing with virtual currencies in their investigations” writes Nikita Blows for livebitcoinnews.com. Even though the price of Bitcoin is nowhere near it’s December 2017 numbers, interest in the crypto industry is still high, for both fans and fraudsters alike.Some countries, like the United Kingdom, are already leading the way in fostering mass adoption for both blockchain technology and cryptocurrencies.This comes in the wake of so-called clone firms popping up in another attempt to swindle people out of…

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AUD News 

Corporate Cybercrime Makes Inroads In Australia

“In Australia, roughly half of firms have encountered cybercrime, as the dark web has offered conduits to ply payments and other fraud” reports pymnts.com. In some cases, the indictment in the state Supreme Court alleged, in connection with insurance fraud, wage theft occurred.Against that backdrop, the bad guys come posing as customers, employees or suppliers and find their ways into the victims, and the tools available on the dark web are both cheaper and more effective. Source: pymnts.com

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