Virtual Currency, Data Breach, Hackers

Webinar Recording - Crypto Breaches: Legal & Regulatory Update

Ballard Spahr LLP on 6/23/2022

The FTC recently reported that over $650 mm worth of cryptocurrency was stolen by hackers last year. Thus far, over $320 mm in cryptocurrency has been stolen by hackers this year. Not surprisingly, this surge in crypto...more

FinCEN Crypto & Ransomware Guidance: Will 2022 Bring More Changes?

Torres Trade Law, PLLC on 1/26/2022

The Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Department of the Treasury (“Treasury”) has made clear that businesses engaging in certain activities involving virtual currencies are subject to registration,...more

OFAC Speaks Again on Ransomware: Mature Cybersecurity Programs Are Important

Manatt, Phelps & Phillips, LLP on 11/12/2021

Last year, as employees clicked away at home amid the COVID-19 pandemic lockdown, ransomware attacks surged, with hospitals and other health care providers the top target. This year will be worse—2021 has already seen more...more

Ransomware and OFAC Sanctions Compliance

The Volkov Law Group on 11/4/2021

We have all read about the high-profile malicious cyber-attacks and ransomware demands and payments. The Colonial Pipeline case demonstrated how responsive law enforcement can be in tracking down perpetrators and recovering...more

White House Focused on Combating Ransomware

Robinson+Cole Data Privacy + Security Insider on 7/16/2021

Ransomware attacks are frequent and escalating as we speak. Double extortion scams are hitting companies at a dizzying pace, and catching companies, large and small, off-guard. U.S. President Joseph Biden warned Russian...more

Update: Ransomware: To Pay or Not to Pay

Robinson+Cole Data Privacy + Security Insider on 12/3/2020

Three recent events are prompting me to update our previous blog post on the difficult decision of whether to pay or not to pay ransomware following an attack....more

Financial Institutions to Remain Vigilant of Ransomware Attacks as they are Facilitators of Ransomware Payments

Foodman CPAs & Advisors on 11/3/2020

On October 1, 2020, the Financial Crimes Enforcement Network (FinCEN) issued an advisory to alert Financial Institutions (FI) relating to “predominant trends, typologies, and potential indicators of ransomware and associated...more

Securing the Weakest Link U.S. Government’s Cryptocurrency Tracing Capacity on Full Display in Civil Forfeiture Action

Polsinelli on 9/16/2020

The U.S. Department of Justice (“DOJ”) filed a civil forfeiture complaint detailing two hacks of virtual currency exchanges by North Korean actors. These actors stole millions of dollars’ worth of cryptocurrency or other...more

You Can Run But You Can’t Hide: U.S. Government’s Cryptocurrency Tracing Capacity on Full Display in Civil Forfeiture Action

Polsinelli on 9/15/2020

The U.S. Department of Justice (“DOJ”) filed a civil forfeiture complaint detailing two hacks of virtual currency exchanges by North Korean actors. These actors stole millions of dollars’ worth of cryptocurrency and...more

Data Privacy + Cybersecurity Insider - December 2019

Robinson & Cole LLP on 12/11/2019

National Veterinary Associates (NVA), a large network of veterinary hospitals and clinics, has reportedly been the victim of a ransomware attack. According to the reports, NVA employs more than 2,600 veterinarians, with over...more

Data Privacy + Cybersecurity Insider - January 2019

Robinson & Cole LLP on 1/7/2019

Just before the new year, the Department of Health and Human Resources (HHS) released voluntary cybersecurity practices for health care organizations, which consists of a main document, two technical volumes, and resources...more

Data Privacy + Cybersecurity Insider - October 2018

Robinson & Cole LLP on 10/8/2018

On October 1, 2018, the Food and Drug Administration (FDA) issued its “Medical Device Cybersecurity Regional Incident Preparedness and Response Playbook” to address continued threats to medical devices that could affect...more

Blockchain Developments: NY AG Issues Report, Major Japanese Exchange Hacked, Global Attitudes Diverge and Use Cases for Social...

BakerHostetler on 9/21/2018

New York Attorney General Issues Virtual Markets Integrity Initiative Report - On Sept. 18, 2018, the New York Attorney General’s Office released its Virtual Markets Integrity Initiative Report. The report addressed 10 major...more

Bitfinex Stops Trading After Cyberattack

Robinson+Cole Data Privacy + Security Insider on 6/15/2018

Bitfinex, a global digital currency exchange, paused trading last week when it experienced a distributed denial-of-service attack. During the pause in trading, it announced to users that “Bitfinex is currently under extreme...more

Data Privacy + Cybersecurity Insider - May 2018 #1

Robinson & Cole LLP on 5/4/2018

Bezop Cryptocurrency Investors’ Personal Information Exposed - Kromtech Security has reported that the sensitive personal information of more than 25,000 investors of Bezop cryptocurrency was exposed when a MongoDB...more

Data Privacy + Cybersecurity Insider - April 2018 #4

Robinson & Cole LLP on 4/27/2018

“Orangeworm” Targeting Health Care Industry - In what is being called a systematic targeting of large health care organizations, pharmaceutical companies, and IT companies and equipment manufacturers that service the...more

Data Privacy + Cybersecurity Insider - April 2018 #2

Robinson & Cole LLP on 4/13/2018

Pipeline Companies Targeted by Cyber-Attacks - Reports show that U.S. energy companies reported more than 350 cybersecurity incidents to the U.S. Department of Homeland Security between 2011 and 2015. Pipeline companies are...more

Data Privacy + Cybersecurity Insider - February 2018 #4

Robinson & Cole LLP on 2/26/2018

U.S. Estimates that Cyber Hacks Cost Up to $109 Billion in 20 - The Council for Economic Advisors (CEA) issued a report this month, entitled “The Cost of Malicious Cyber Activity to the U.S. Economy,” which concludes that...more

HaoBao Malware Hitting Banks Scans for Bitcoin Activity

Robinson+Cole Data Privacy + Security Insider on 2/22/2018

Lazarus, the well-known hacking group responsible for the WannaCry ransomware attack from last year, as well as the attack on the Bangladesh Central Bank and Sony, is now targeting global financial firms and Bitcoin adopters...more

Data Privacy + Cybersecurity Insider - December 2017 #2

Robinson & Cole LLP on 12/15/2017

$64 Million in Bitcoin Stolen from NiceHash - Many are lamenting not purchasing bitcoin now that its value has skyrocketed. Recently, Massachusetts Secretary of State William Galvin warned investors to stay away from...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 12/7/2017

The latest on the potential Disney move for “significant parts of 21st Century Fox,” which is nearing completion and could see Murdoch scion leaving his father and brother in order to work for Big Mouse....more

Data Privacy + Cybersecurity Insider - November 2017 #4

Robinson & Cole LLP on 12/1/2017

Intel has confirmed it has a bug in its remote server management tool. The tool, known as Management Engine, permits administrators of IT systems to access devices remotely to apply updates or troubleshoot problems for users....more

Data Privacy + Cybersecurity Insider - October 2017 #2

Robinson & Cole LLP on 10/18/2017

FBI Issues Flash Alert on Apache Struts Vulnerability - The Apache Struts vulnerability has been mentioned frequently in the media over the past month, as it is believed to have been involved in one of the largest and most...more

WannaCry Ransomware Alert

Sheppard Mullin Richter & Hampton LLP on 5/22/2017

This is not a drill. Companies and law enforcement agencies around the world have been left scrambling after the world’s most prolific ransomware attack hit over 500,000 computers in 150 countries over a span of only 4...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 5/15/2017

A series of cyberattacks featuring ransomware rocked the world this weekend, and the aftershocks “could linger” for a while....more

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