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Category — FinTech
Bitfinex Hacker Sentenced to 5 Years, Guilty of Laundering $10.5 Billion in Bitcoin

Bitfinex Hacker Sentenced to 5 Years, Guilty of Laundering $10.5 Billion in Bitcoin

Nov 15, 2024 Financial Fraud / Blockchain
Ilya Lichtenstein, who pleaded guilty to the 2016 hack of cryptocurrency stock exchange Bitfinex, has been sentenced to five years in prison, the U.S. Department of Justice (DoJ) announced Thursday. Lichtenstein was charged for his involvement in a money laundering scheme that led to the theft of nearly 120,000 bitcoins (valued at over $10.5 billion at current prices) from the crypto exchange. Heather Rhiannon Morgan, his wife, also pleaded guilty to the same crimes last year. They were both arrested in February 2022. Morgan is scheduled to be sentenced on November 18. "Lichtenstein, 35, hacked into Bitfinex's network in 2016, using advanced hacking tools and techniques," the DoJ said in a press statement. "Once inside the network, Lichtenstein fraudulently authorized more than 2,000 transactions transferring 119,754 bitcoin from Bitfinex to a cryptocurrency wallet in Lichtenstein's control." TRM Labs said Lichtenstein exploited a vulnerability in Bit...
U.S. Sanctions 3 Cryptocurrency Exchanges for Helping Russia Evade Sanctions

U.S. Sanctions 3 Cryptocurrency Exchanges for Helping Russia Evade Sanctions

Mar 26, 2024 Money Laundering / Digital Currency
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned three cryptocurrency exchanges for offering services used to evade economic restrictions imposed on Russia following its invasion of Ukraine in early 2022. This includes Bitpapa IC FZC LLC, Crypto Explorer DMCC (AWEX), and Obshchestvo S Ogranichennoy Otvetstvennostyu Tsentr Obrabotki Elektronnykh Platezhey (TOEP). In all, the designations cover thirteen entities and two individuals operating in the Russian financial services and technology sectors. "Many of the individuals and entities designated today facilitated transactions or offered other services that helped OFAC-designated entities evade sanctions," the Treasury  said , adding the action seeks to "target companies servicing Russia's core financial infrastructure and curtail Russia's use of the international financial system to further its war against Ukraine." Bitpapa, which offers virtual currency excha...
PixPirate Android Banking Trojan Using New Evasion Tactic to Target Brazilian Users

PixPirate Android Banking Trojan Using New Evasion Tactic to Target Brazilian Users

Mar 13, 2024 Financial Fraud / Mobile Security
The threat actors behind the PixPirate Android banking trojan are leveraging a new trick to evade detection on compromised devices and harvest sensitive information from users in Brazil. The approach allows it to hide the malicious app's icon from the home screen of the victim's device, IBM said in a technical report published today. "Thanks to this new technique, during PixPirate reconnaissance and attack phases, the victim remains oblivious to the malicious operations that this malware performs in the background," security researcher Nir Somech  said . PixPirate, which was  first documented  by Cleafy in February 2023, is known for its abuse of Android's accessibility services to covertly perform unauthorized fund transfers using the PIX instant payment platform when a targeted banking app is opened. The constantly mutating malware is also capable of stealing victims' online banking credentials and credit card information, as well as capturing keystrokes and interc...
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Master SaaS AI Risk: Your Complete Governance Playbook

websiteReco AIArtificial Intelligence / SaaS Security
95% use AI, but is it secure? Master SaaS AI governance with standards-aligned frameworks.
Watch This Webinar to Uncover Hidden Flaws in Login, AI, and Digital Trust — and Fix Them

Designing Identity for Trust at Scale—With Privacy, AI, and Seamless Logins in Mind

Jul 24, 2025
Is Managing Customer Logins and Data Giving You Headaches? You're Not Alone! Today, we all expect super-fast, secure, and personalized online experiences. But let's be honest, we're also more careful about how our data is used. If something feels off, trust can vanish in an instant. Add to that the lightning-fast changes AI is bringing to everything from how we log in to spotting online fraud, and it's a whole new ball game! If you're dealing with logins, data privacy, bringing new users on board, or building digital trust, this webinar is for you . Join us for " Navigating Customer Identity in the AI Era ," where we'll dive into the Auth0 2025 Customer Identity Trends Report . We'll show you what's working, what's not, and how to tweak your strategy for the year ahead. In just one session, you'll get practical answers to real-world challenges like: How AI is changing what users expect – and where they're starting to push ba...
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