News & Analysis as of

Ransomware Cryptocurrency

Houston Harbaugh, P.C.

Legal Issues With Blockchains, Cryptocurrency Transactions, and Risks of Loss: Understand Your Contract

Houston Harbaugh, P.C. on

The widespread and debilitating impacts of the recent faulty Crowdstrike® software update has caused businesses to evaluate processes and examine potential claims and defenses related to the deleterious commercial impacts of...more

BakerHostetler

Deeper Dive: Understanding the 2023-24 Crypto Threat Landscape

BakerHostetler on

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

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #408 – Russian Cybercriminals Get 69% of Ransom Payments

Anecdotally, we know that cybercriminals hailing from Russia are a significant risk to U.S.-based and world companies and governmental entities. With two convicted Russian cybercriminals being released this week in the...more

BakerHostetler

Weekly Blockchain Blog - April 2024 #5

BakerHostetler on

Hong Kong Approves Crypto ETFs; Crypto Security, Payments Products Launch - According to recent reports, the Hong Kong Securities and Futures Trading Commission has conditionally approved the launch of the first spot...more

BakerHostetler

Weekly Blockchain Blog - February 2024 #2

BakerHostetler on

U.S. Companies Announce Crypto Cashback and NFT Ticketing Initiatives - According to recent reports, a major U.S. credit card company has partnered with Swoo, a mobile wallet blending traditional and crypto payments, to...more

Robinson+Cole Data Privacy + Security Insider

HC3 Warns Healthcare Organizations about Akira Ransomware Group

The Health Sector Cybersecurity Coordination Center (HC3) recently warned the health care sector about the Akira ransomware group that has been hitting health care organizations since May of 2023. In an Analyst Note dated...more

BakerHostetler

Crypto Products Launch; Bitcoin Ordinals Project Sells Out; U.S. EIA to Survey Miners; OFAC and DOJ Announce Crypto Actions;...

BakerHostetler on

New Crypto Indices Launch; Crypto Firms Announce Product Integrations - According to a recent press release, SIX, a major Swiss stock exchange and global financial information provider, has launched new SIX Reference Rate...more

Mintz

SEC Approves Spot Bitcoin ETFs But Gensler Still Disapproves of Crypto

Mintz on

On January 10, 2024, the U.S. Securities and Exchange Commission (“SEC”) approved eleven applications for spot exchange-traded funds (“ETFs”) tracking Bitcoin. This landmark moment for the crypto asset industry has been over...more

Hinckley Allen

The 2023 Cyber Year in Review

Hinckley Allen on

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 #2

Robinson & Cole LLP on

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

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - November 2023

Robinson & Cole LLP on

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

ASKramer Law

Digital Asset Theft Loss Deductions are More Complicated Than You Think

ASKramer Law on

Taxpayers can take a tax deduction with respect to “theft” losses that result from an illegal “taking of property” done with criminal intent. Among various other types of criminal activities, fraud is treated as theft under...more

BakerHostetler

DSIR Deeper Dive: 2023 Crypto Threat Landscape

BakerHostetler on

Following one of the most turbulent years in crypto history, 2023, in contrast, unfolded as a year of reprieve, including from crypto threats. According to a July 12, 2023, report from blockchain analytics firm Chainalysis,...more

Akerman LLP

Explainer Things: Episode 9

Akerman LLP on

Fall is finally in the air as temperatures drop (in some parts of the country, at least) and football season is in full swing. We’ve previously avoided writing about football because our Explainer Things cast can’t agree on...more

Morrison & Foerster LLP

Department of Justice and Commodities Futures Trading Commission Expand Crypto and Cybersecurity Teams

Overall cryptocurrency crime levels are down, according to a report from Chainalysis reviewing crypto crime trends, but this past year has still seen certain categories of crypto crime, such as ransomware, continue to...more

Spilman Thomas & Battle, PLLC

Decoded - Technology Law Insights, V 4, Issue 7, August 2023

You may be Entitled to Financial Compensation…for Your Data - “Without all of our writings and photos that AI companies are using to train their models, they would have nothing to sell.” Why this is important: This...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for March 2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources...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

Orrick, Herrington & Sutcliffe LLP

U.S., German law enforcement disable darknet crypto mixer

On March 15, U.S. law enforcement, along with German criminal authorities, disabled a darknet cryptocurrency “mixing” service used to allegedly launder more than $3 billion in cryptocurrency underlying ransomware, darknet...more

BakerHostetler

DeFi, Stablecoin Products Launch; FASB to Allow Fair Value for Crypto Accounting; SEC Addresses Crypto IRAs; DOJ Enforcement...

BakerHostetler on

DeFi, Stablecoin Products Launch; Bitcoin Network Spikes Due to NFTs - According to reports, a new decentralized finance (DeFi) protocol recently launched that allows users to deposit the stablecoins USDC or DAI in a...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

Bradley Arant Boult Cummings LLP

Does Your Cyber Insurance Policy Cover a Ransomware Attack?

Some policyholders mistakenly assume that all cyber insurance policies provide coverage for much the same type of losses. But unlike many other types of commercial insurance, cyber has not become standardized in the years...more

Zelle  LLP

How Ohio Software Ruling Implicates Crypto Insurance Claims

Zelle LLP on

In the last week of December 2022, the Ohio Supreme Court published a much-anticipated decision in the EMOI Services LLC v. Owners Insurance Co. case. The decision was bold, and the court made no attempt to limit its holding...more

Latham & Watkins LLP

OFAC Sanctions Decentralized Virtual Currency Mixer

Latham & Watkins LLP on

The US Treasury opens a Pandora’s box of legal issues as it targets a decentralized finance protocol used for both licit and illicit means. On August 8, 2022, the US Department of the Treasury’s Office of Foreign Assets...more

BakerHostetler

Crypto Platforms Achieve Foreign Approvals; DOJ Seizes Crypto Ransomware Funds; CFTC Adds Crypto Firms to RED List; Crypto Fraud...

BakerHostetler on

Foreign Regulators Approve Crypto Platforms; Ethereum Approaching PoS - According to recent reports, several major cryptocurrency platforms have obtained regulatory approval from Italy’s Organismo Agenti e Mediatori (OAM)...more

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