Infamous North Korean hacker group identified as suspect for $100M Harmony attack

The Lazarus Group, a well-known North Korean hacking syndicate, has been identified as the primary suspect in the recent attack that saw $100 million stolen from the Harmony protocol.  According to a new report published today by blockchain analysis firm Elliptic, the manner in which Harmony’s Horizon Bridge was hacked and the way stolen digital … Read more

Chainalysis launches reporting service for businesses targeted in crypto-related cyberattacks

Blockchain analytics firm Chainalysis has launched a reporting hotline for incidents of hackers demanding cryptocurrency payments from platforms or companies. In a Wednesday blog post, Chainalysis said its ‘Crypto Incident Response’ hotline would operate 24/7 for victims of a “hack, ransomware attack, code exploit, or flash loan attack” in which “cryptocurrency funds are either demanded … Read more

Atlantic Council looks at how to maintain central bank digital currency cybersecurity

The U.S. thinktank Atlantic Council released a report Wednesday on cybersecurity issues related to central bank digital currencies (CBDC). The authors provide a generalized discussion of CBDC security, but with a clear focus on the United States and issues specific to it. They determined that the security risks presented by a CBDC depend heavily on … Read more

OpenSea announces new security features to protect users from NFT scams

One of the most popular crypto startups, OpenSea, has recently come under fire for stolen and plagiarized nonfungible tokens (NFTs). In light of the growing number of NFT scams, OpenSea has announced the launch of a new feature that will automatically hide suspicious NFT transfers from view on their marketplace. This will help to protect … Read more

Chainalysis exec touts blockchain analysis to Senate homeland security committee

The collection and processing of information was a major theme at the United States Senate Committee on Homeland Security and Governmental Affairs (HSGAC) hearing titled, “Rising Threats: Ransomware Attacks and Ransom Payments Enabled by Cryptocurrency” on Tuesday. The committee hosted a panel of private-sector experts who discussed the problem of ransomware attacks and the challenges … Read more

Cybersecurity firm supports Bitcoin ‘mission,’ converts balance sheet to BTC

Another business jumps aboard the Bitcoin bandwagon. Octagon Networks, a global cybersecurity network company with over 20 employees announced on June 6 that it had “finished the process of converting its liquid assets and entire balance sheet into Bitcoin (BTC).”  The group will also “start accepting Bitcoin payments for all of our services, with a … Read more

DeFi-ing exploits: New Chainalysis tool tracks stolen crypto across multiple chains

Blockchain analytics firm Chainalysis has released a new tool to track transactions across Decentralized Finance protocols and multiple blockchains. Chainalysis launched a beta version of its Storyline software on May 18. Touted as a “Web3-native blockchain analysis tool,” Storyline aims to track and visualize smart contract transactions with a focus on nonfungible tokens (NFTs) and … Read more

DeFi attacks are on the rise — Will the industry be able to stem the tide?

The decentralized finance (DeFi) industry has lost over a billion dollars to hackers in the past couple of months, and the situation seems to be spiraling out of control. According to the latest statistics, approximately $1.6 billion in cryptocurrencies was stolen from DeFi platforms in the first quarter of 2022. Furthermore, over 90% of all … Read more

How blockchain archives can change how we record history in wartime

Decentralized blockchain technology has been around for a relatively short period of time, in the grand scheme of things, but its decentralized nature has the power to keep data and information out of the hands of censors looking to create a “safe” and “faultless” version of history.  Decentralized blockchain technology has been around for a … Read more

Can Solana become the dominant PoS chain despite persistent outages?

Like most new-age networks, Solana was developed to resolve major issues confronting the blockchain industry. While the network has addressed some of these issues by its very nature. However, it has also encountered a few unique problems. From resource exhaustion to a halt in block confirmation, the Solana network has suffered a number of setbacks … Read more