News & Analysis as of

Crypto Exchanges Cyber Attacks

BakerHostetler

Deeper Dive: Understanding the 2023-24 Crypto Threat Landscape

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As the Web3 and digital assets ecosystem continues to grow, hacks, scams and other threats remain a major cause for concern and a potential impediment to broader adoption. Data from various sources indicates that after a year...more

Seward & Kissel LLP

Run-On Sentence, Searching for a Curo, For Pete’s Sake, and The Rite Stuff

Seward & Kissel LLP on

Sam Bankman-Fried Sentenced to 25 Years in Prison | CoinDesk - FTX founder and former CEO Sam Bankman-Fried has been sentenced to 25 years in prison after being convicted on seven fraud and conspiracy charges. According to...more

The Volkov Law Group

Ransomware and OFAC Sanctions Compliance

The Volkov Law Group on

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

Vinson & Elkins LLP

Sound the Alarm: DOJ’s New Criminal and Civil Tools to Combat Crypto-Cyber Threats Should Prompt Investment in Cyber Compliance

Vinson & Elkins LLP on

As a strong signal that it intends to increase its focus on illicit crypto transactions, the Department of Justice (“DOJ”) announced the creation of an enforcement team, the National Cryptocurrency Enforcement Team (“NCET”),...more

Torres Trade Law, PLLC

Crypto Crackdown: OFAC Sanctions SUEX Cryptocurrency Exchange

Torres Trade Law, PLLC on

On September 21, 2021, in a first-of-it-kind action, the U.S. Department of the Treasury Office of Foreign Assets Control (“OFAC”) imposed economic sanctions on SUEX OTC, S.R.O. (“SUEX”), a virtual currency exchange, for...more

Perkins Coie

OFAC Issues Second Ransomware Advisory and Designates Virtual Currency Exchange for Sanctions

Perkins Coie on

Agency’s Focus on Cryptocurrency and Blockchain Continues - On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released an updated advisory to “highlight the sanctions...more

Fenwick & West LLP

OFAC Helps Those Who Help Themselves: How a Ransomware Response Plan Can Help Avoid Sanctions Enforcement for Ransom Payments

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Many companies have a “no ransomware payment” stance until faced with a ransomware attack, especially an attack that causes significant business disruption. At that point, the company may reconsider its stance (or at least...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - January 2021 #4

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CYBERSECURITY - Big Win for Law Enforcement: Emotet Infrastructure Taken Down - January 27, 2021, was a BIG win for law enforcement in the efforts to combat cyber crime. U.S. and European law enforcement agencies announced...more

Robinson+Cole Data Privacy + Security Insider

Crypto Exchange BuyUCoin Database Leaked

Indian news outlet Inc42 has reported that the ShinyHunters hacking group found some shiny objects when it was able to compromise the personal information of hundreds of thousands of individuals using the crypto exchange...more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights - Issue 7, September 2020

U.S. Judge Halts Trump's TikTok Ban, Hours Before It was Set to Start - "John Hall, an attorney for TikTok, said that the app, with some 100 million American users, is a 'modern day version of the town square' and shutting...more

Hogan Lovells

“Of Ransoms, Bitcoin, and Injunctions”: English High Court grants subrogee insurer proprietary injunction over ransomed Bitcoin

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In a gripping tale sure to excite die-hard Potter fans everywhere, the English High Court has granted a so-called ‘Harry Potter injunction‘ (i.e. a protective injunction against persons unknown) restraining the dissipation of...more

Robinson+Cole Data Privacy + Security Insider

2.2 Million GateHub and RuneScape Passwords Compromised

It has been reported by Troy Hunt, the security researcher who has provided us with the Have I Been Pwned free breach notification service, that 1.4 million passwords and personal information of customers of GateHub, a...more

Akin Gump Strauss Hauer & Feld LLP

OFAC Adds Iranian Bitcoin Exchangers’ Names and Wallet Addresses to SDN List, Ushers in “New Approach” to Sanctions Enforcement

• On November 28, 2018, OFAC designated two Iran-based individuals who helped exchange cryptocurrency (bitcoin) into fiat currency on behalf of alleged ransomware perpetrators who targeted U.S. businesses and municipal...more

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