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Ballard Spahr LLP

Navigating FinCEN’s Actions on Huione Group: Strengthening Defenses Against Money Laundering

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On May 1, 2025, the Financial Crimes Enforcement Network (FinCEN) released a Notice of Proposed Rulemaking (NPRM) regarding the Huione Group, a foreign financial institution located in Cambodia. This proposal, enacted under...more

Allen Barron, Inc.

Internal Revenue Service Criminal Investigation (IRS-CI) Reports Billion Dollar Impact

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Internal Revenue Service Criminal Investigation (IRS-CI) recently released its Fiscal Year 2024 (FY24) Annual Report, providing insight into the types of crimes the agency is focused upon, as well as the first criminal...more

Constangy, Brooks, Smith & Prophete, LLP

You’ve been hit with ransomware. Think twice before you pay.

You've been hit by a ransomware attack, and a cybercriminal group is demanding a cryptocurrency payment in exchange for your data's safe return. Should you pay? Deciding whether to pay a ransom is an internal business...more

Hinckley Allen

The 2023 Cyber Year in Review

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The Most Significant Developments in Cybersecurity and Cyber-Related Liability Risks - As we reflect upon 2023, it will unfortunately be remembered as a record-breaking year for ransomware and cybercrime....more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - November 2023

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CYBERSECURITY - Hackers Steal $4.4M Crypto Using Data Linked to LastPass Breach - According to Bleeping Computer, crypto fraud researchers at ZachXBT, and MetaMask developer Taylor Monahan have reported that on October 25,...more

BakerHostetler

Bank Launches Blockchain Network; Stablecoin Initiatives Launch in Foreign Markets; New Crypto Guidance Published; Reports Provide...

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U.S. Bank Launches Blockchain Network, Crypto Bank Gains Securities License - According to recent reports, the largest bank in the U.S. has gone live with its blockchain-based Tokenized Collateral Network (TCN) and...more

Ankura

Preventing the Use of Cryptocurrencies to Evade Sanctions

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Cryptocurrencies have been making the headlines for all the wrong reasons. Their values have plummeted leaving investors out of pocket. Exchanges, lenders, and other entities in the crypto ecosystem have gone bust. Numerous...more

Pillsbury - Policyholder Pulse blog

The Dangers of Dialogue: Ransomware Attackers Want to See Your Cyber Insurance Policy

Amidst the recent surge in ransomware attacks on U.S. businesses—with crypto criminals and sometimes State actors invading and encrypting computer and operating systems and extorting funds in exchange for the decryption...more

Kohrman Jackson & Krantz LLP

Why are Company Ransomware Payments Dropping Dramatically?

Companies are increasingly choosing not to pay ransom for ransomware and extortionware due to the growing associated risks. In fact, a recent report by crypto-crime analyst firm Chainalysis found that payments to threat...more

A&O Shearman

Show me the Cryptocurrency: English High Court Grants Novel Information Orders Against Crypto Exchanges

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The High Court has once again grappled with novel issues raised by disputes concerning cryptoassets, this time in the context of an interim application for information orders....more

K2 Integrity

The North Korean Crypto Threat

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Executive Summary - The North Korean threat to the crypto ecosystem is the highest form of immediate risk to the crypto-economy driven by a regime that seeks to profit from its misuse to reinforce its regime and fuel all its...more

Awatif Mohammad Shoqi Advocates & Legal...

What You Need to Know About Cryptocurrency Scams in the UAE

The crypto industry has seen an immense growth in the last few years, with several countries introducing laws to regulate them. Cryptocurrencies are digital assets representing value which can be digitally stored, traded,...more

Alston & Bird

Recent Exploits of Blockchain Bridges Highlight Need for Cybersecurity in Crypto and Risk of Liability

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According to recent media reports there have been several instances of blockchain bridges being hacked this year, including reports on August 2 that a bridge lost close to $200 million to upwards of 40 hackers who exploited a...more

King & Spalding

State Attorneys General Poised to Elevate Regulatory Scrutiny of Digital Asset Businesses

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The Attorney General Alliance (“AGA”) recently issued a collaborative White Paper that signals heightened scrutiny of digital asset businesses by state Attorneys General in coming years. Recognizing that it is “no longer...more

Woodruff Sawyer

Crime Market Update: Management Liability Auxiliary Lines, Part 3

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Crime policies cover theft of money, tangible property, and securities by employees and others. The crime market is currently stable. But could it be the calm before the impact of the work-from-home storm is fully known?...more

McDermott Will & Emery

[Virtual Event] NFTs and Web3: Compliance and Cybersecurity | Women in FinTech Networking Series - June 28th, 11:00 am - 12:00 pm...

To find community, resources and support to help accelerate your career and fuel your success, we invite you to join us for our Women in FinTech Networking Series, bringing together senior women across the FinTech industry....more

Jones Day

Policyholders Should Not Overlook Traditional Policies in Evaluating Coverage for Cryptocurrency-Related Risks

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Introduction - Cryptocurrency, such as Bitcoin, is a decentralized and exclusively virtual currency that is secured through cryptography. Companies using or investing in cryptocurrency face various risks, such as market...more

The Volkov Law Group

OFAC Focuses on Cybercrime by Sanctioning the Hydra Darknet Market and GARANTEX Cryptocurrency Exchange

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Continuing with both its crackdown on cybercriminals and illicit digital marketplaces, along with its continued economic pressure on the Russian Federation, OFAC has sanctioned two entities that fit both criteria.  On April...more

Morrison & Foerster LLP

Department of Justice Signals Its Growing Focus on Cryptocurrency Enforcement

On February 17, 2022, Deputy Attorney General (DAG) Lisa Monaco announced a significant step in advancing its cryptocurrency-related enforcement priorities by naming the first leader of the National Cryptocurrency Enforcement...more

Davis Wright Tremaine LLP

"Whole of Government" Anti-Ransomware Campaign on Full Display

November 8, 2021, may have been the most significant single day in the United States' "whole of government" anti-ransomware campaign. The Department of Justice, Department of the Treasury, and Department of State all...more

Foley Hoag LLP

Biden Administration Focus on Cybercrime Continues with Israeli Companies Added to Entity List, New Export Controls, and...

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On November 3, 2021, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) added two Israeli entities to the Entity List due to malicious cyber activities. In its press release, BIS stated that the...more

Jackson Lewis P.C.

DOJ Announces Cybersecurity Enforcement Initiative Targeting Federal Contractors

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Last week, the Department of Justice (“DOJ”) announced the launch of its Civil Cyber-Fraud Initiative (“the Initiative”) aimed at combating “new and emerging cyber threats to the security of sensitive information and critical...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - August 2021 #2

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CYBERSECURITY - Cryptoheister(s) Return Stolen Booty - Cryptocurrency platform Poly Network, which allows users to swap different types of digital tokens, was the victim of a cryptoheist that resulted in the thief...more

Foodman CPAs & Advisors

FinCEN to host second ‘exchange’ on preventing ransomware

The United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN) will hold a second FinCEN Exchange in August to discuss ways to combat increasingly sophisticated cyber and ransomware attacks. The FinCEN...more

Fisher Phillips

The Use of Bitcoin and Cryptocurrencies in Ransomware Attacks: Why Employers Should Care

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As ransomware attacks continue to become more of a concern for employers of all sizes, an increasing number of hackers are demanding cryptocurrency such as Bitcoin in exchange for ending their attack. The recent ransomware...more

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