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Virtual Currency › Data Breach

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... more +
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 -
Ballard Spahr LLP

Webinar Recording - Crypto Breaches: Legal & Regulatory Update

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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

Torres Trade Law, PLLC

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

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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

Orrick, Herrington & Sutcliffe LLP

Year-end Crypto Roundup — Five Key Concepts About the U.S. Government’s Recent Actions on Virtual Currency and Ransomware

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The innovative use of virtual currencies is hotter than ever, but so is a dark side of these instruments: their exploitation in ransomware schemes. This year, since January 2021, ransomware attacks have increased...more

Manatt, Phelps & Phillips, LLP

OFAC Speaks Again on Ransomware: Mature Cybersecurity Programs Are Important

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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

The Volkov Law Group

Ransomware and OFAC Sanctions Compliance

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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

Robinson+Cole Data Privacy + Security Insider

White House Focused on Combating Ransomware

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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

Robinson+Cole Data Privacy + Security Insider

Update: Ransomware: To Pay or Not to Pay

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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

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights - Issue 10, November 2020

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VIDEO: Cryptocurrency - Legitimate Uses and Potential Issues - Following the recent publication of the U.S. Attorney General's cryptocurrency enforcement framework, Spilman attorneys Corey Bonasso and Nick Mooney discuss...more

Foodman CPAs & Advisors

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

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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

Polsinelli

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

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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

Polsinelli

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

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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

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - December 2019

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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

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - January 2019

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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

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - October 2018

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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

Robins Kaplan LLP

Your Daily Dose of Financial News

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To no one’s surprise, the Fed followed through with its months of promises and raised its benchmark interest rate by 25 basis points yesterday. The FOMC also indicated that it’s planning to raise rates again in December....more

BakerHostetler

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

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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

Robinson+Cole Data Privacy + Security Insider

Bitfinex Stops Trading After Cyberattack

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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

Fenwick & West LLP

SEC Enforcement Trends: Highlights from Securities Enforcement Forum West 2018

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The Securities Enforcement Forum West 2018 brought together current and former senior U.S. Securities and Exchange Commission and U.S. Department of Justice officials, securities enforcement and white-collar attorneys,...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - May 2018 #1

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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

Robinson+Cole Data Privacy + Security Insider

Bezop Cryptocurrency Investors’ Personal Information Exposed

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Kromtech Security has reported that the sensitive personal information of more than 25,000 investors of Bezop cryptocurrency was exposed when a MongoDB database was left unsecured. The security incident is reported to be...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - April 2018 #4

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“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

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - April 2018 #2

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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

Robins Kaplan LLP

Your Daily Dose of Financial News

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Facebook CEO Mark Zuckerberg finally issued a statement yesterday addressing the unauthorized data use scandal involving Cambridge Analytica that’s cost his company share price almost 10% since the story broke....more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - February 2018

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In this month's edition of our Privacy & Cybersecurity Update, we examine the Identity Theft Research Center's findings on data breaches in 2017, the U.S. Supreme Court's denial of certiorari that leaves in place the circuit...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - February 2018 #4

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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

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