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How Cryptocurrency Turns to Cash in Russian Banks

Krebs on Security

A financial firm registered in Canada has emerged as the payment processor for dozens of Russian cryptocurrency exchanges and websites hawking cybercrime services aimed at Russian-speaking customers, new research finds. A machine-translated version of Flymoney, one of dozens of cryptocurrency exchanges apparently nested at Cryptomus.

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Clever Cryptocurrency Theft

Schneier on Security

Beanstalk Farms is a decentralized finance project that has a majority stake governance system: basically people have proportiona votes based on the amount of currency they own. It is insane to me that cryptocurrencies are still a thing.

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Perfectl Malware

Schneier on Security

The researchers are calling the malware Perfctl, the name of a malicious component that surreptitiously mines cryptocurrency. Besides using the machine resources to mine cryptocurrency, Perfctl also turns the machine into a profit-making proxy that paying customers use to relay their Internet traffic.

Malware 268
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Decarbonizing Cryptocurrencies through Taxation

Schneier on Security

Maintaining bitcoin and other cryptocurrencies causes about 0.3 As many cryptocurrencies crash and the FTX bankruptcy moves into the litigation stage, regulators are likely to scrutinize the cryptocurrency world more than ever before. The good news is that cryptocurrencies don’t have to be carbon intensive.

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Hackers Exploit Zoom's Remote Control Feature in Cryptocurrency Heists

SecureWorld News

A sophisticated cybercrime campaign, dubbed Elusive Comet , has been uncovered, in which North Korean threat actors are exploiting Zoom's remote control feature to infiltrate the systems of cryptocurrency professionals. The research behind the discovery was released by Security Alliance , which tracked and analyzed the campaign.

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Two Russians Charged in $17M Cryptocurrency Phishing Spree

Krebs on Security

authorities today announced criminal charges and financial sanctions against two Russian men accused of stealing nearly $17 million worth of virtual currencies in a series of phishing attacks throughout 2017 and 2018 that spoofed websites for some of the most popular cryptocurrency exchanges. Separately, the U.S.

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On the Dangers of Cryptocurrencies and the Uselessness of Blockchain

Schneier on Security

Earlier this month, I and others wrote a letter to Congress, basically saying that cryptocurrencies are an complete and total disaster, and urging them to regulate the space. But that doesn’t mean there can’t be some governance system on top of the blockchain that enables reversals. They still require governance.