Acting Comptroller of the Currency Michael J. Hsu says there are compelling arguments for a centralized U.S. stablecoin, but there are also high risks associated with it. Some security experts question whether the technology has advanced enough and consider stablecoin risks.
A group of fraudsters made more than $1.6 million in a massive scam using fake cryptocurrency giveaway YouTube streams attracting more than 165,000 viewers. The campaign also exploited the names of Vitalik Buterin, Elon Musk, Michael Saylor and other crypto enthusiasts.
The latest edition of the ISMG Security Report reviews the latest cyber resilience "call to action" from the White House and also explores authentication provider Okta's failure to inform hundreds of customers in a timely manner that their data could have been stolen by the Lapsus$ group.
In a series of Executive Orders, National Security Memorandums (NSM-8), a government-wide push to embrace zero-trust architecture, and the National Institute of Standards and Technology (NIST) project to finalize Post-Quantum Cryptography (PQC) standards, advanced quantum security methods are beginning to emerge as a...
In the latest weekly update, four editors at ISMG discuss how Russia's invasion of Ukraine complicates cybercrime ransomware payments, a former U.S. Treasury senior adviser's take on Biden's cryptocurrency executive order, and important points regarding the upcoming identity theft executive order.
As war in Ukraine rages and the Putin regime continues to drive toward population centers in the former Soviet state, U.S. cybersecurity officials remain on high alert - questioning whether the Russians will elevate the cyberwar against their Western neighbor or even NATO networks.
What are the ethics of paying ransom to cybercriminals who might be working as a proxy cyber force in support of Russia's invasion of Ukraine? Realistically, whether or not to pay often comes down to a business decision. But Russia's invasion further complicates the optics for ransomware victims.
Ari Redbord of TRM Labs joins editors at ISMG to discuss President Biden's executive order on digital assets, the role of cryptocurrency in the Ukraine-Russia war and nuances for ransomware victims who consider paying a ransom, and trends in regulatory guidance and leadership for digital currency.
U.S. President Joe Biden this week issued a cryptocurrency executive order that addresses consumer protection, national security and financial stability. Ari Redbord, former senior adviser at the U.S. Treasury, calls this order "a clarion call" for crypto regulation and shares his initial reaction.
The ISMG Security Report features an analysis of the U.S. government's request for billions of dollars in tech aid to curb the global impact of the Kremlin's campaign in Ukraine. It also examines Biden's cryptocurrency executive order and why breached organizations often don't share full details.
As expected, President Joe Biden on Wednesday signed an executive order on cryptocurrency that tackles consumer protection, financial stability, national security and climate risks. The administration calls it the first whole-of-government strategy to rein in cryptocurrencies.
President Joe Biden is expected to outline a whole-of-government approach to reining in cryptocurrencies, which have been criticized for lax cybersecurity measures. Media reports say the administration will announce an executive order on crypto this week, to align the U.S. with global allies.
U.S. officials say that while it would be nearly impossible for Russia to "flip the switch" and convert to cryptocurrency to stabilize its sanctioned economy, they caution that Russian elites and entities may yet try to skirt the measures by transferring and obfuscating funds across the blockchain.
Key financial members of the U.S. Senate on Wednesday sent a letter to Treasury Secretary Janet Yellen regarding potential sanctions evasions and the department's ability to police crypto assets, as adversarial countries have previously leveraged them to fund weapons programs and for cash infusion.
Security experts, legislators and researchers are worried about fraud and money laundering related to cryptocurrency platforms during the Russia-Ukraine crisis. Researchers are already observing a spike in phishing attacks and other threat vectors targeting digital wallets.