Several Notches Above Ransomware An extortion scheme which sought to terrorize people into paying over BTC made global headlines over the course of the week. The threats happened worldwide, at a minimum being reported in the US, New Zealand, and Australia. The bomb threats demanded $ 20,000 in BTC in exchange for the terrorists to “give
On Friday, as the Bitcoin price fell by around six percent against the U.S. dollar, several reports claimed that the dominant cryptocurrency dropped in value due to bomb threats. One report from Business Insider Australia, for instance, stated that following an email blast of bomb threats in New York, the price of the crypto asset
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Hundreds of government buildings, schools and businesses in the United States and Canada were on Thursday targets of extortionists who threatened to detonate explosives unless they were paid thousands of dollars in bitcoin. In most of the emailed bomb threats, the sender claimed that they had an associate who had planted an explosive device at
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If you’d asked any cybersecurity professional around this time last year what the greatest threat to cybersecurity was, they’d have undoubtedly said ransomware. Now worth over a billion dollars a year (and rising), with attacks like WannaCry and Petya/NotPetya wreaking havoc, every expert worth their salt was planning ways to stay ahead of the hackers.
But you know what? Things move pretty quickly in the cybercrime space. Hackers are inventive, ingenious and destructive, always coming up with new ways of pushing boundaries. Ransomware was so last year. While no one will deny it’s still a (massive) problem, other types of cybercrime are beginning to spread like the bubonic plague.
The U.S. Secret Service is taking a good look at privacy-focused cryptocurrencies like Monero and Zcash while urging Congress to “consider additional legislative or regulatory actions.”
Fear of Privacy Coins
Last week, a top official from the federal law enforcement agency reportedly requested help from Congress in combating the use of privacy coins for illicit purposes. Robert Novy, Deputy Assistant Director of the Secret Service’s Office of Investigations, wrote:
We should … consider additional legislative or regulatory actions to address potential challenges related to anonymity-enhanced cryptocurrencies.
He added, as reported by Forbes:
It appears the days of John McAfee promoting initial coin offerings (ICOs) are over. In a tweet on June 18, 2018, McAfee announced his decision to no longer work with ICOs.
McAfee Backs Out of ICO Promotions ‘Due to SEC Threats’
McAfee’s tweet was a response to a question posed by one of his followers, asking him to recommend a viable ICO investment. McAfee responded by stating he would no longer promote any ICO “due to SEC threats.” He warned others still promoting and endorsing ICOs that they were risking arrest in doing so.