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Wealth Management: A hack at IRA Financial Trust, which offers self-directed retirement accounts, resulted in the theft of $36 million in cryptocurrency, according to a person familiar with the investigation.
ZDNet: In a report on 2021, the firm said 83 cybersecurity company capital raises surpassed $100 million. There were fourteen $1 billion mergers and acquisitions, including deals involving McAfee, Augh0, Mimecast, Thycotic, Proofpoint, and Avast.
The Target: Wormhole, a cryptocurrency online trading platform.
The Take: $322 million ETH currency.
The Vector: A website vulnerability allowed the attacker to fool the exchange software to release far greater number of the ETH currency than was specified through a temporary token. By altering the conversion, the hacker was able to withdraw far more than the number the entered.
This breach highlights the importance of locking input forms in a firm’s website, be it a name field, email field, or account field, anywhere the user is sending information to the database is a prime target for threat actors. Regular testing for software vulnerabilities is a key component of upholding robust cybersecurity posture.
BNN Bloomberg: Criminals netted $1.3 billion in ransom payments from hacking victims in the past two years, reflecting a massive surge in cybercrime that has prompted a global effort to stop it, according to a new report from Chainalysis Inc.
Security Week: Over the past several years, ransomware has become the most prevalent threat to organizations in private and public sectors alike, including financial services, food and agriculture, government, healthcare, and other critical infrastructure industries.
SEC: The Securities and Exchange Commission today voted to propose rules related to cybersecurity risk management for registered investment advisers, and registered investment companies and business development companies (funds), as well as amendments to certain rules that govern investment adviser and fund disclosures.
U.S. News: The European Central Bank is preparing banks for a possible Russian-sponsored cyber attack as tensions with Ukraine mount, two people with knowledge of the matter said, as the region braces for the financial fallout of any conflict.
Bleeping Computer: The US Department of Justice announced that law enforcement seized billions worth of cryptocurrency linked to the 2016 Bitfinex cryptocurrency exchange hack.
U.S. News: Britain's foreign ministry was the target of a serious cyber security incident earlier this year, according to tender documents posted on the government's website.
U.S. News: North Korea is continuing to steal hundreds of millions of dollars from financial institutions and cryptocurrency firms and exchanges, illicit money that is an important source of funding for its nuclear and missile programs, U.N. experts said in a report quoting cyber specialists.
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