Apr 13, 2024NewsroomCryptocurrency / Regulatory Compliance A former security engineer has been sentenced to three years in prison in the U.S. for charges relating to hacking two decentralized cryptocurrency exchanges in July 2022 and stealing over $12.3 million. Shakeeb Ahmed, the defendant in question, pled guilty to one count of computer fraud in December 2023
Mar 26, 2024NewsroomMoney Laundering / Digital Currency The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned three cryptocurrency exchanges for offering services used to evade economic restrictions imposed on Russia following its invasion of Ukraine in early 2022. This includes Bitpapa IC FZC LLC, Crypto Explorer DMCC (AWEX), and Obshchestvo S
People in the U.S. lost $1.56 billion to cryptocurrency-related scams over the past year. This is according to cybersecurity solutions provider SurfShark, which drew on data from the Federal Trade Commission. The estimated amount is higher than the entire GDP of Grenada and various other nation states or a group of four F-22 Raptors. Nationwide,
A string of attacks that hit high profile mortgage players in recent months demonstrate that cybercrime continues to be a pressing issue for the financial services industry, and a fourth quarter report reveals that the resulting risk of fraud is getting worse. There is usually an uptick in fraud at the end of the year
Loandepot was hit by a cyberattack, the company announced Monday. The top-ranked mortgage lender “determined that the unauthorized third-party activity included access to certain company systems and the encryption of data,” per a filing with the Securities and Exchange Commission. As a result, it took some operations offline. The company did not provide specifics regarding