Security Financial News

There has been a rise in scams that use dating apps to lure victims onto bogus crypto mining platforms, a South Korean security provider has claimed.

The United States Securities and Exchange Commission (SEC) has objected to Binance.US’ move to acquire over $1 billion of assets belonging to the defunct cryptocurrency lending firm Voyager Digital.

Blockchain Association’s chief legal officer says “it would be absurd” for a United States court to rule that digital assets on private blockchains are securities, following a federal judge's decision to allow a lawsuit against Dapper Labs's NBA Top Shots NFTs to play out. 

The Canadian Securities Administrators (CSA) published a notice on Feb. 22 describing new commitments it expects from crypto asset trading platforms (CTPs) seeking registration in Canada. The CTPs will enter into a new version of preregistration undertakings (PRUs), which are legally binding documents. Registered CTPs will be contacted by their principal regulators about compliance with the new expectations. 

NBA Top Shot Moments nonfungible tokens (NFTs) may be considered a security, as it meets the requirements under the United States security laws, according to court filings on Feb 22. 

Crypto exchange Coinbase experienced a cybersecurity attack targeting its employees on Feb. 5. The attack came through SMS scams and involved impersonations of IT staff, according to a recent report from the company's engineering team. No customers' funds or information were impacted, the firm said.

A wallet security team released a real-time dashboard that lets community members detect, track and monitor potential nonfungible token (NFT) hacks using offline signatures in the OpenSea marketplace. 

Blockchain security firm PeckShield has found a number of scam tokens looking to profit from the ChatGPT AI chatbot craze. 

Payments giant PayPal and investment management firm Galaxy joined hands to raise $20 million in seed funding for Chaos Labs, a New York-based cloud platform for securing blockchains and protocols.

New week, a new element of the crypto ecosystem is under attack. This time, the United States Securities and Exchange Commission (SEC) ordered Paxos Trust to stop issuing Binance USD (BUSD) — a dollar-pegged stablecoin. Paxos received a cease order from the New York Department of Financial Services (NYDFS).

Blockchain bridges allow decentralized finance (DeFi) users to use the same tokens across multiple blockchains. For example, a trader can use USD Coin (USDC) on the Ethereum or Solana blockchains to interact with the decentralized applications (DApps) on those networks.

In a year of crypto upheavals, the United States Securities and Exchange Commission’s settlement with crypto exchange Kraken, announced on Feb. 9, set off yet another tremor. Agency chief Gary Gensler took to mainstream media last week to explain the agency’s action, which seemed to be an attack on crypto staking — part of the validation mechanism used by a number of blockchain platforms, including Ethereum, the world’s second-largest network. 

The United States Securities and Exchange Commission’s (SEC's) lawsuit against Terraform Labs and its co-founder Do Kwon could be seen as an SEC “roadmap” to taking down other stablecoins, according to a lawyer.

DYOR) before making any investment decisions.What is DYOR in crypto?Doing Your Own Research or DYOR is to remind you that you should thoroughly educate yourself on the cryptocurrency project or investment before deciding to invest in, buy, sell, or even hold. Since the crypto market is unregulated, there is often a lot of misinformation and scams, so it becomes vital to be diligent in your research to avoid falling prey to these. What all to research during DYOR in crypto? Understand the Technology: Understand the cryptocurrency project's vision and the problem it aims to solve. Also, make a note of how it differentiates itself from other cryptocurrencies. It is vital to read the project's whitepaper and technical documentation to understand its features and benefits better. Read about the Founders and Team: Look at the team behind the project and their background, experience, and track record. Check if they have any prior experience in the cryptocurrency or blockchain space and if they have a solid reputation in the industry.

Decentralized finance (DeFi) has been a rapidly growing sector of the cryptocurrency industry, but it has also faced significant regulatory challenges. With regulators struggling to keep up with the pace of innovation, the lack of clarity around regulations tends to create uncertainty for DeFi projects.

GBBC Digital Finance announced Feb. 16 that it has joined the International Organization of Securities Commissions (IOSCO) as an affiliate member. The IOSCO is an international association that develops and promotes international standards for securities. 

The crypto exchanges Binance and Huobi have frozen “North Korea-linked” wallets containing “approximately $1.4 million in cryptoassets.”

Security is one of the biggest concerns among crypto enthusiasts, and with good reason. Cryptocurrencies, being decentralized and digital, are susceptible to various forms of cyberattacks, and digital wallets that store these assets can be easily transferred and stolen without the possibility of recovery. This has led to an increase in scams and malicious schemes aimed at stealing users’ coins and tokens.

USD Coin (USDC) issuer Circle has denied rumors that it received a "Wells Notice" over its United States dollar-pegged stablecoin.

The metaverse, a virtual environment that simulates reality, offers complex moral dilemmas regarding privacy, ownership and control. These consist of:

Crypto financial services Matrixport's head of research believes the recent scrutiny of Paxos and its Binance USD (BUSD) token is not a direct attack on stablecoins themselves.