TECHNOLOGY LAW CORNER

Cybercriminals Score Billions in Cryptocurrency Thefts

Are any of us at all surprised to learn that in just the first quarter of 2019 more than $1.2 billion worth of cryptocurrency was stolen? Probably not. This story follows the old line from bank robber Willie Sutton who is credited with saying that he robbed banks "because that's where the money is."

CONFERENCE REPORT

Digging for Bitcoin Is a Labor of Love

It would have been reasonable for those attending Josh Bressers' session at CypherCon -- myself included -- to expect a presentation by a cryptocurrency expert. It was billed as a talk about plumbing the depths of the bitcoin blockchain. When Bressers admitted that his material grew out of a hobby, ...

Flexa has launched a new digital payment network that uses cryptocurrencies to cut processing costs, eliminate fraud and preserve users' privacy. The network uses Flexa's Spedn app to process consumer transactions at cooperating merchants. The new payment platform makes it possible to spend Bitcoin,...

The Samsung Galaxy S10, scheduled for launch on Feb. 20, likely will incorporate a cryptocurrency wallet, based on leaks and rumors circulating online. "Samsung has a long history of throwing everything it can think of, technology-wise, into its flagship Galaxy S series smartphones," remarked Ken Hy...

EXPERT ADVICE

Breaking Up the Crypto-Criminal Bar Brawl

As if e-commerce companies didn't have enough problems with transacting securely and defending against things like fraud, another avalanche of security problems -- like cryptojacking, the act of illegally mining cryptocurrency on your end servers -- has begun. We've also seen a rise in digital credi...

EXPERT ADVICE

The Downward Spiral Into Crypto-Criminal Chaos

As if e-commerce companies didn't have enough problems with transacting securely and defending against things like fraud, another avalanche of security problems -- like cryptojacking, the act of illegally mining cryptocurrency on your end servers -- has begun. We've also seen a rise in digital credi...

Hackers planted malware on StatCounter to steal bitcoin revenue from Gate.io account holders, according to Eset researcher Matthieu Faou, who discovered the breach. The malicious code was added to StatCounter's site-tracking script last weekend, he reported. The malicious code hijacks any bitcoin tr...

With all the talk about cryptocurrencies, you might be wondering whether your e-commerce business should start accepting them as a form of payment. There is no simple answer to that question. It all depends on the type of business you have and your tolerance for volatility and risk. In any case, it'...

The United States Department of Justice and the Commodity Futures Trading Commission have opened a joint criminal investigation into price manipulation of bitcoin and other cryptocurrencies, according to a report. The illicit tactics reportedly being investigated include spoofing and wash trading. B...

A virtual currency hardware wallet with millions of users has been compromised. Saleem Rashid explained how he cracked the firmware on the wallet produced by Ledger using what's known as a "supply chain" attack. That means a targeted device is compromised before any users get their hands on it. The ...

Google has said it will stop serving ads for cryptocurrencies and related content in June. The ban includes, but is not limited to, initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets and cryptocurrency trading advice. Google also will bar aggregators and affiliates from serving...

Against the backdrop of a recent slide in bitcoin markets and a record drop in the U.S. financial markets, federal securities regulators and Senate Banking Committee members on Tuesday signaled that additional regulation may be necessary in the rapidly growing area of virtual currency. Securities an...

Guesswork is often involved in predicting the "next big thing" -- but with CES just a week away, the future is almost now. The annual international trade show, as well as other industry events following one after another means there will be no shortage of product announcements, technology unveilings...

A new Apache Struts campaign that researchers named "Zealot" has come to light in recent weeks. Zealot loads Windows or Linux-based machines by installing a miner for Monero, which has become one of the hottest cryptocurrencies used in recent malware attacks. Zealot uses NSA-linked EternalBlue and E...

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