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NYC Couple Pleads Guilty to Money Laundering in $3.6 Billion Bitfinex Hack

NYC Couple Pleads Guilty to Money Laundering in $3.6 Billion Bitfinex Hack

Aug 04, 2023 Cryptocurrency / Cyber Crime
A married couple from New York City has pleaded guilty to money laundering charges in connection with the 2016 hack of cryptocurrency stock exchange Bitfinex, resulting in the theft of about 120,000 bitcoin. The development comes more than a year after Ilya Lichtenstein, 35, and his wife, Heather Morgan, 33, were  arrested in February 2022 , following the seizure of roughly 95,000 of the stolen crypto assets that were held by the defendants. The funds were valued at $3.6 billion at the time. Since then, the U.S. government said it has seized another approximately $475 million tied to the breach. "Lichtenstein used a number of advanced hacking tools and techniques to gain access to Bitfinex's network," the U.S. Department of Justice (DoJ)  said . "Once inside their systems, Lichtenstein fraudulently authorized more than 2,000 transactions in which 119,754 bitcoin was transferred from Bitfinex to a cryptocurrency wallet in Lichtenstein's control." He is
DOJ Seizes 3 Web Domains Used to Sell Stolen Data and DDoS Services

DOJ Seizes 3 Web Domains Used to Sell Stolen Data and DDoS Services

Jun 02, 2022
The U.S. Department of Justice (DoJ) on Wednesday  announced  the seizure of three domains used by cybercriminals to trade stolen personal information and facilitate distributed denial-of-service (DDoS) attacks for hire. This includes weleakinfo[.]to, ipstress[.]in, and ovh-booter[.]com, the first of which allowed its users to traffic hacked personal data and offered a searchable database containing illegally amassed information obtained from over 10,000 data breaches. The database consisted of seven billion indexed records featuring names, email addresses, usernames, phone numbers, and passwords for online accounts that could be accessed through different subscription tiers. The shutdown of weleakinfo[.]to comes more than two years after a related internet domain named weleakinfo[.]com was  confiscated in January 2020 , with law enforcement officials arresting 21 individuals in connection to the operation later that year. Last May, one of its operators was  sentenced  to two year
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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