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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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Incognito Darknet Market Mass-Extorts Buyers, Sellers

Krebs on Security

Borrowing from the playbook of ransomware purveyors, the darknet narcotics bazaar Incognito Market has begun extorting all of its vendors and buyers, threatening to publish cryptocurrency transaction and chat records of users who refuse to pay a fee ranging from $100 to $20,000. “And yes, this is an extortion!!!!

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Dutch police dismantled dual dark web market ‘Bohemia/Cannabia’

Security Affairs

Dutch police dismantled Bohemia/Cannabia, two major dark web markets for illegal goods, drugs, and cybercrime services. It is the largest and longest running international dark web market of all time worldwide.” The authorities also seized two vehicles and €8 million worth of cryptocurrency.

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Nick Weaver on Regulating Cryptocurrency

Schneier on Security

Nicholas Weaver wrote an excellent paper on the problems of cryptocurrencies and the need to regulate the space—with all existing regulations. As such, the cryptocurrency space has grown over the past decade with very little regulatory oversight. When regulating cryptocurrencies, the best starting point is history.

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Everything You Need to Know About Crypto

Speaker: Ryan McInerny, CAMS, FRM, MSBA - Principal, Product Strategy

Cryptocurrency and non-fungible tokens (NFTs) - what are they and why should you care? With 20% of Americans owning cryptocurrencies, speaking "fluent crypto" in the financial sector ensures you are prepared to discuss growth and risk management strategies when the topic arises.

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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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Actions Target Russian Govt. Botnet, Hydra Dark Market

Krebs on Security

Also this week, German authorities seized the server infrastructure for the Hydra Market, a bustling underground market for illegal narcotics, stolen data and money laundering that’s been operating since 2015. ” HYDRA. Federation Tower, Moscow. Image: Evgeniy Vasilev. billion euros in 2020 alone.

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