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September 23, 2016

Could Digital Currencies Become a Target in the Fight Against Ransomware?

According to a former assistant attorney general at the U.S. Department of Justice’s National Security Division, tackling the rise in ransomware attacks could see action taken against hard-to-trace digital currencies such as bitcoin.

In the last year, there has been an increase in the number of ransomware attacks.

Earlier this year, a Canadian university had to pay bitcoin to malicious hackers so that it could access its computer systems after a cyberattack denied access to its data. In February, a Hollywood hospital was the target of ransomware attack and had to pay $17,000 in bitcoins to the extortionists.

Unsurprisingly, due to the rise in ransomware attacks, [...]

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September 12, 2016

Crypto-Crooks Steal Monero Using Compromised FTP Server Swarm

Cyber-thieves are making away with the cryptocurrency Monero after compromising file transfer protocol servers with a malware that exploits its target’s CPU and power resources.

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September 2, 2016

As Central Banks Sell off Record US Debt, Blockchain Offers Cost Cutting for Financial Industry

Central banks are playing hot potato with America’s debt.

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August 31, 2016

Banks Still Losing Money through SWIFT Attacks

It has been half a year since the now infamous bank heist that saw the Bangladesh Central Bank lose over $80 million from its New York Federal Reserve account. Hackers were able to exploit the bank’s lax security framework with SWIFT transfers, at the time. Things haven’t changed much, SWIFT privately disclosed to its client banks.

SWIFT, the co-operative owned by banks and responsible for connecting the global banking system is urging its clients to improve their security framework after privately disclosing that cyber-heists are still costing its member banks.

The attacks are fundamentally targeting the banks’ connectivity to the SWIFT messaging network, particularly [...]

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