Bitcoin has enabled fast payments to cybercriminals pushing ransomware. How to deal with bitcoin is the subject of a spirited debate, with some arguing to restrict it. But bitcoin doesn't always favor cybercriminals, and it may actually be more of an ally than a foe by revealing webs of criminality.
Cryptocurrency has a reputation for being tough to trace - no wonder anonymity-craving criminals favor using it. In reality, cryptocurrencies don't make users anonymous. But just how did the FBI recover most of the bitcoins paid by Colonial Pipeline to the DarkSide ransomware operation?
Criminals tricked into using an FBI-run encrypted messaging app, Verizon's 2021 Breach Investigations Report and overcoming the challenges of recruiting cybersecurity professionals are among the latest cybersecurity topics to be featured for analysis by a panel of Information Security Media Group editors.
The U.S. Justice Department reported it recouped $2.3 million of the $4.4 million ransom Colonial Pipeline Co. paid following a May 7 ransomware attack. The DOJ's Ransomware and Digital Extortion Task Force coordinated the effort, in which the FBI tracked payment to a bitcoin wallet it controls.
Iran is using its abundance of oil to generate electricity that powers a massive bitcoin cryptomining operation that enables the country to turn its greatest natural resource into money, offsetting some of its income lost as a result of economic sanctions, according to cryptocurrency analysis firm Elliptic.
Cryptocurrency is gaining traction worldwide. But is it ready to displace the U.S. dollar as the world's reserve currency? Kathy Wang and Kenneth Geers of Very Good Security bring this topic to the RSA Conference stage and share exclusive insights in this panel discussion.
Does the West want to have its digital existence defined by adversaries, or is it ready to devote the time, resources, expertise and planning required to more fully take control of its evolving destiny? That's the techno-Darwinian call to arms issued by Jeremy Fleming, the director of Britain's GCHQ intelligence...
Has the CEO of inaccessible Turkish cryptocurrency exchange Thodex exit-scammed, fleeing the country with $2 billion worth of his customers' assets? So say critics, and police have launched an investigation. But the CEO, Faruk Fatih Ozer, who's in Albania, has vowed to clear his name and restore users' funds.
Today's cryptocurrencies are based on cryptographic standards that eventually could be broken via quantum computing, says Gideon Samid of BitMint, which has developed a virtual currency based instead on the concept of "quantum randomness."
Adopting a "security by design" approach and weaving it into the digital transformation road map helps organizations defend against cyberthreats, says Reem AlShammari, CISO at Kuwait Oil Co., who also advocates threat information sharing.
Blockchain technology has been floated as a solution to enable remote, electronic voting. But MIT researchers say today's paper-based systems, while imperfect, are still the most reliable way to prove to voters that their selections have been accurately cast and tallied.
The Muhstik botnet, which has been operating for at least two years, has recently started targeting vulnerabilities in the Oracle WebLogic application server and the Drupal content management system as a way to expand its cryptocurrency mining capabilities, according to security firm Lacework.