News & Analysis as of September 19, 2024

Cyber Crimes

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

Blockchain+ Bi-Weekly - February 2024

Polsinelli on 2/9/2024

The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...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

Crypto Payment Options Announced, Federal Reserve Official Addresses Bitcoin, US and Foreign Actions Target Crypto Crimes, DeFi...

BakerHostetler on 2/22/2021

Crypto Payment Options Announced, Federal Reserve Official Addresses Bitcoin - Late last week, BitPay, a leading provider of cryptocurrency payment services, announced that U.S. users of its prepaid debit card, which allows...more

Privacy Tip #271 – Getting In on the Cryptocurrency Frenzy? Assess Risk of Theft First

Robinson+Cole Data Privacy + Security Insider on 2/11/2021

Oh, if I had just bought that Bitcoin when I first thought about it a decade ago…I might risk a flight to Fiji right now, which is on my bucket list, even in the midst of the pandemic. Alas, I didn’t, because I assessed the...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

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

Hack of Electrum Wallets Reaps over 200 Bitcoin (around $750,000)

Robinson+Cole Data Privacy + Security Insider on 1/4/2019

A scary scheme by hackers recently successfully lifted Bitcoin from Electrum wallet owners to the tune of approximately $750,000....more

Hackers Steal $31 million in Cryptocurrency from Bithumb

Robinson+Cole Data Privacy + Security Insider on 6/29/2018

Bithumb, ranked the seventh largest cryptocurrency exchange and located in South Korea, has confirmed that it was hacked and that the thieves absconded with approximately $32 million in coins, including the XRP token issued...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

Another Hitch in the Crypto Boom? North Korean Malware Hijacks Computers to Mine Monero Cryptocurrency

Robinson+Cole Data Privacy + Security Insider on 1/17/2018

Researchers at cybersecurity firm AlienVault have discovered a computer virus of North Korean origin which infects and hijacks computers in order to mine Monero, a private digital currency which styles itself as “secure,...more

$64 Million in Bitcoin Stolen from NiceHash

Robinson+Cole Data Privacy + Security Insider on 12/18/2017

Many are lamenting not purchasing bitcoin now that its value has skyrocketed. Yesterday, Massachusetts Secretary of State William Galvin warned investors to stay away from investing in bitcoin, as he considers it a financial...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

Hacker Steals $31 Million of Tether Cryptocurrency

Robinson+Cole Data Privacy + Security Insider on 12/1/2017

Virtual currency exchanges are popping up at breakneck speed. Tether, which operates USDT, a cryptocurrency that is backed up with the U.S. dollar, announced that almost $31 million of its USDT was stolen from its core...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

Bitcoin Week in Review 09.12.15 – 09.18.15

Perkins Coie on 9/25/2015

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

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