CYBER SECURITY
NIST's Call for Public Input on AI Safety in Response to Biden's Executive Order
NIST is seeking public input to create AI safety guidelines following President Biden's Executive Order, aiming to ensure a secure AI environment, mitigate risks, and foster innovation.
North Korea's Cyber Onslaught on Cryptocurrency: A $3 Billion Digital Heist
North Korea has escalated cyber attacks on cryptocurrency since 2017, stealing over $3 billion and stealing $1.7 billion in 2022, posing a serious threat to the country's economy and military budget.
Fireblocks Introduces 'Off Exchange' to Address Exchange Counterparty Risk, Integrates with Deribit
Fireblocks introduces 'Off Exchange', reducing exchange counterparty risk for institutional traders, allowing them to trade directly from on-chain MPC shared wallets, marking a significant advancement in digital asset trading.
Senator Warren Focuses on Crypto Scam Risks for Seniors, Advocates New Legislation
Senator Warren emphasized the Digital Asset Anti-Money Laundering Act, gaining bipartisan support to regulate crypto activities and protect vulnerable populations from financial fraud.
BIS Conference Addresses Cybersecurity in Central Bank Digital Currencies (CBDC)
Agustín Carstens, General Manager of the Bank for International Settlements, highlighted the importance of cybersecurity for central bank digital currencies (CBDCs) during a conference in Basel, Switzerland, emphasizing the need for secure, user-friendly, and adaptable systems.
US Authorities Uncover Chinese-linked Bitcoin Mining Operations
US authorities have identified a significant number of Chinese-linked Bitcoin mining operations across the United States, sparking national security concerns. Published by The New York Times on October 13, the report highlights the close proximity of some of these operations to critical military and infrastructure sites. Amidst escalating US-China political tensions, the surge in Chinese Bitcoin mining operations in the US, coupled with their substantial energy consumption, poses critical questions regarding cybersecurity, energy sustainability, and geopolitical dynamics.
Suspicious Transactions Linked to Mixin Network Hack Involve Huobi and Binance
Cyvers Alerts has discovered suspicious transactions linked to the recent Mixin Network hack. Two hacker addresses received 51 ETH from an account that had interactions with Huobi Global and Binance. The watchdog has called on these exchanges to help identify the suspicious account as part of ongoing investigations.
Unidentified Exploit Steals Over $10.5 Million in NFTs and Coins
An unidentified exploit has drained over $10.5 million in NFTs and coins from experienced crypto community members since December 2022. The exploit targets keys created from 2014 to 2022 and those who are "crypto native," with multiple addresses and work within the space. Crypto veterans are advised to use a hardware wallet or migrate their funds to safeguard their digital assets.
MetaMask Users Email Addresses Exposed in Cybersecurity Incident
MetaMask, the popular Ethereum wallet, experienced a cybersecurity incident that exposed the email addresses of some of its users who submitted a customer support ticket between August 1, 2021 and February 10, 2023. The breach may have affected up to 7,000 users and some of the customer support tickets included a free text field where users may have submitted personally identifying information. The company has taken steps to eliminate unauthorized access in the future and is working with a cybersecurity and forensics team to investigate the incident.
Cryptocurrency Phishing Attacks Surge in 2022
Kaspersky reports a 40% YoY increase in cryptocurrency phishing attacks in 2022. These attacks involve fake websites and communication channels that mimic official companies to trick users into sharing private information such as private keys. Kaspersky warns that scammers continue to evolve their techniques and stories to lure in unsuspecting crypto investors.
OpenAI Launches Bug Bounty Program
OpenAI has launched a bug bounty program to address privacy and cybersecurity issues, inviting security researchers and ethical hackers to identify and address vulnerabilities in its systems. The program offers cash rewards ranging from $200 to $20,000 for qualifying vulnerability information.
Japan supports OpenAI amid concerns
Japan expressed interest in incorporating OpenAI’s technology into government systems, provided privacy and cybersecurity concerns are addressed. OpenAI CEO, Sam Altman, visited Japan and met with government officials to discuss the potential of the technology and how to maximize its benefits while minimizing risks. Meanwhile, OpenAI is being investigated by Canada’s privacy commissioner for allegedly collecting and utilizing personal information without consent.
DeFi Execs Argue KYC as Solution to Combat Money Laundering in the Industry
DeFi executives at the WOW Summit in Hong Kong endorse KYC as a solution to tackle AML issues and combat hackers laundering stolen funds into clean money. However, there are concerns that KYC alone will not solve all AML problems and that different mechanisms should be used for different solutions.
Cybersecurity Firm Halborn Warns of Zero-Day Vulnerabilities in Over 280 Blockchain Networks
Cybersecurity firm Halborn has warned of a vulnerability called "Rab13s" that could put over 280 blockchain networks at risk of zero-day exploits, potentially exposing at least $25 billion worth of crypto. The most critical vulnerability could allow an attacker to send malicious consensus messages to individual nodes, causing each to shut down and potentially enabling a 51% attack on the network. While Dogecoin, Zcash, and Litecoin have already implemented patches for the discovered vulnerabilities, hundreds of other networks remain at risk.
Hong Kong Suffers Surge in Crypto Scams in 2022
Hong Kong police reported a surge in crypto-related scams in 2022, with losses amounting to HK$1.7 billion ($216.6 million), up 106% from the previous year. The number of crypto-related scam cases reported in Hong Kong also surged by 67% from 2021. Such scams accounted for over 50% of the HK$3.2 billion ($407 million) stolen from city residents in technology crimes. The Hong Kong police CyberDefender website reported almost 23,000 cases of technology-related crimes in 2022. The use of cryptocurrency has made it more complicated for enforcement to track criminal funds, as fraudsters can hide their identities, transactions, and final destination.