Experts Call for Crypto Regulation as Ransomware Attacks Are On the Rise

2021-4-30 18:33

A panel of experts calls for aggressive tracking of Bitcoin and other cryptos in the light of growing ransomware attacks. Ransomware gangs collected about $350 million last year, more than 3x of 2019.

“There’s a lot more that can be done to constrain the abuse of these pretty amazing technologies,” said Philip Reiner, chief executive of the Institute for Security and Technology, who led the Ransomware Task Force.

The new rules proposed are aimed at the anonymity of crypto transactions, Reuters reported a source as saying. It will recommend steps like extending KYC regulations to crypto exchanges, money laundering rules to facilities converting currency, and tougher licensing requirements for those processing cryptocurrencies.

“That would be huge,” said an anonymous senior Homeland Security Official.

“This is a world that was created exactly to be anonymous, but at some point, you have to give up something to make sure everyone’s safe.”

Last year, the U.S. Marshals Service seized over $150 million in crypto-assets and offered them to the public at auction.

Amidst this, the House has passed a bill that will provide clarity to crypto asset regulation in the country.

The bill passed by the US House of Representatives last week is H.R. 1602, “Eliminate Barriers to Innovation Act of 2021,” which has now been sent to the Senate. If passed and signed into law, this will provide much-needed clarification to the industry. It would commission a working group to evaluate how the US currently treats crypto assets.

The post Experts Call for Crypto Regulation as Ransomware Attacks Are On the Rise first appeared on BitcoinExchangeGuide.

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ransomware attacks experts collected gangs light growing

Источник: bitcoinexchangeguide.com

ransomware attacks → Результатов: 109


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US preps voting systems against ransomware attacks ahead of 2020 elections

The US government is looking to protect voter registration databases and systems from ransomware threats ahead of the 2020 presidential election. The Cybersecurity Infrastructure Security Agency (CISA) — a division of the Homeland Security department instituted by president Donald Trump in November last year — fears the databases could be at the receiving end of a ransomware attack.

2019-8-27 09:31


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Vicious malware threatens to turn search engine into crypto-mining zombie botnet

Enterprise search engine Elasticsearch is under threat of being turned into a sophisticated cryptocurrency mining botnet to be used in distributed denial of service (DDoS) attacks. Cybersecurity firm Trend Micro describes a new malware strain that launches multi-stage attacks on publicly accessible databases and servers that run old versions of Elasticsearch software.

2019-7-23 17:54


Ransomware Crooks Cashed Out $16 Million from Defunct Bitcoin Exchange: Google Research

By CCN: In the two years leading up to 2018, a spate of ransomware attacks were analyzed in a report by a team of researchers hailing mostly from leading U. S. universities and Google. Results showed a conservative estimate of total funds stolen to be $16 million, with bitcoin providing a way for malicious actors to take payment from anywhere in the world.

2019-5-9 11:50


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PayPal Wins Patent for Ransomware Detection Solution

Global payment processing platform PayPal has been awarded a patent for a technique that can help with the timely detection and reduction of ransomware attacks. Ransomware attacks are a form of malware that takes over the victim's computer, locks up the files therein and demands a ransom before the files can be accessed again — often to be paid in cryptocurrency.

2019-4-19 21:17


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Lazarus Hacker Group Continues to Target Crypto Using Faked Trading Software

This article was originally published by 8btc and written by Lylian Tang. The Chinese security service provider 360 Security has issued a warning that a large number of crypto exchanges have been targeted by the North Korean hacker group Lazarus and that the number is still rising after the recent hacks of crypto exchanges DragonEx, Etbox and BiKi.

2019-4-2 21:54


Here’s how personalized ransomware attacks work, and how to protect yourself

Once a piece of ransomware has got hold of your valuable information, there is very little you can do to get it back other than accede to the attacker’s demands. Ransomware, a type of malware that holds a computer to ransom, has become particularly prevalent in the past few years and virtually unbreakable encryption has made it an even more powerful force.

2019-3-28 19:54


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