More than $12 billion has been lost in decentralized finance, or DeFi, applications in 2021 - $10.8 billion of which is attributed to fraud and theft, a 600% increase from 2020, according to a new report from blockchain analytics firm Elliptic.
Critical issues in India's digital lending ecosystem were identified by a RBI working group. These include the existence of fake and illegal apps and unscrupulous money recovery practices. Establishment of a self-regulatory body to oversee operations of lending platforms is recommended.
A recent hack of a Utah medical radiology group's network server has compromised sensitive health information of more than a half-million individuals, ranking the incident among the 20 largest health data breaches posted on the federal tally so far this year. What are the risks to patients?
A Canadian teenager is under arrest after allegedly stealing C$46 million ($37 million) in the latest cryptocurrency SIM swap scam. Meanwhile in the U.S., the Department of Justice is going to sell off $57 million worth of cryptocurrency seized from the BitConnect Ponzi scheme.
U.S. federal banking regulators have approved a new rule that will require banks to notify regulators no later than 36 hours after the organization determines it has suffered a qualifying "computer-security incident," the nation's top financial agencies announced this week.
The U.S. Department of Justice has indicted two Iranians for allegedly interfering in the 2020 U.S. elections. The charges against the men include conspiracy to commit computer fraud and abuse, transmission of interstate threats and voter intimidation.
In the latest weekly update, four editors at Information Security Media Group discuss important cybersecurity issues, including the status of the recommendations of the Cyberspace Solarium Commission today and what still needs to be enacted by the current Congress, addressing the increasing challenge of cyberattacks...
A Portsmouth, Ohio-based hospital is still struggling to fully recover - continuing to cancel and postpone various patient care services - one week after it revealed that hackers had gained access to some of its servers in what appeared to be a "targeted cyberattack."
The Singapore Personal Data Protection Commission has fined Commeasure Pte. Ltd., which operates hotel booking platform RedDoorz, S$74,000 - or U.S. $54,637 - for what the commission called the "largest data breach" since its inception in 2012, which put at risk 5.9 million customer records.
The National Security Council Secretariat has launched the Indian Citizens Assistance for Mobile Privacy & Security, or I-CAMPS, project to protect user privacy and secure the mobile ecosystem, says national cybersecurity coordinator Lt. Gen. Rajesh Pant.
Several key federal cybersecurity leaders in the U.S. on Wednesday outlined the Biden administration's approach to countering ransomware, which they called a national security issue. The leaders are backing incident reporting legislation and assessing Russia's progress in curbing attacks conducted within its borders.
Cyberattacks on the EU's healthcare sector grew by nearly 50% in 2020, over 2019, and continue to pose serious threats to patient safety as well as to the entire health supply chain, says a new report calling for the development of more healthcare-specific incident response teams among EU members.
Cryptocurrency-using criminals continue to rely on services designed to launder their virtual currency to give them "clean coins" that are tougher for law enforcement to trace. Experts say such services are widely marketed on cybercrime forums, and sometimes provided directly to ransomware groups' affiliates.
The U.S. and Israel will expand their diplomatic relationship around cybersecurity, announcing a bilateral task force this week that will support cybersecurity and fintech innovation. The news follows recent action by the U.S. Department of Commerce to blacklist Israeli spyware firm NSO Group.
In an effort to streamline the adoption of zero trust cybersecurity architectures, the U.S. Department of Defense in December will launch an office dedicated to zero trust. This announcement comes as federal agencies move to modernize following the SolarWinds cyberespionage campaign.