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Founder of Bitzlato Cryptocurrency Exchange Pleads Guilty in Money-Laundering Scheme

Founder of Bitzlato Cryptocurrency Exchange Pleads Guilty in Money-Laundering Scheme

Dec 08, 2023 Cryptocurrency / Cyber Crime
The Russian founder of the now-defunct Bitzlato cryptocurrency exchange has pleaded guilty, nearly 11 months after he was  arrested in Miami  earlier this year. Anatoly Legkodymov (aka Anatolii Legkodymov, Gandalf, and Tolik), according to the U.S. Justice Department, admitted to operating an unlicensed money-transmitting business that enabled other criminal actors to launder their illicit proceeds. He faces up to five years in prison. "Legkodymov operated a cryptocurrency exchange that was open for business to money launderers and other criminals,"  said  Acting Assistant Attorney General Nicole M. Argentieri of the Justice Department's Criminal Division. "He profited from catering to criminals, and now he must pay the price. Transacting in cryptocurrency does not put you beyond the reach of the law." Bitzlato, which served as a safe haven for fraudsters and ransomware crews such as  Conti , is estimated to have received $2.5 billion in cryptocurrency bet
N. Korean Hackers 'Mixing' macOS Malware Tactics to Evade Detection

N. Korean Hackers 'Mixing' macOS Malware Tactics to Evade Detection

Nov 28, 2023 Malware / Cyber Espionage
The North Korean threat actors behind macOS malware strains such as RustBucket and KANDYKORN have been observed "mixing and matching" different elements of the two disparate attack chains, leveraging RustBucket droppers to deliver KANDYKORN. The  findings  come from cybersecurity firm SentinelOne, which also tied a third macOS-specific malware called ObjCShellz to the RustBucket campaign. RustBucket  refers to an  activity cluster  linked to the Lazarus Group in which a backdoored version of a PDF reader app, dubbed SwiftLoader, is used as a conduit to load a next-stage malware written in Rust upon viewing a specially crafted lure document. The  KANDYKORN campaign , on the other hand, refers to a malicious cyber operation in which blockchain engineers of an unnamed crypto exchange platform were targeted via Discord to initiate a sophisticated multi-stage attack sequence that led to the deployment of the eponymous full-featured memory resident remote access trojan. The t
Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Feb 14, 2024Financial Security / Cyber Threats
The landscape of cybersecurity in financial services is undergoing a rapid transformation. Cybercriminals are exploiting advanced technologies and methodologies, making traditional security measures obsolete. The challenges are compounded for community banks that must safeguard sensitive financial data against the same level of sophisticated threats as larger institutions, but often with more limited resources. The FinServ Threat Landscape Recent trends show an alarming increase in sophisticated cyber-attacks. Cybercriminals now deploy advanced techniques like deep fake technology and AI-powered attacks, making it increasingly difficult for banks to differentiate between legitimate and malicious activities. These developments necessitate a shift towards more sophisticated and adaptive cybersecurity measures. Take these industry statistics, for example. Financial firms report 703 cyberattack attempts per week.1 On average, 270 attacks (entailing unauthorized access of data, appl
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