ICOs | Breaking Cybersecurity News | The Hacker News

Again some bad news for cryptocurrency users. KICKICO, a blockchain-based initial coin offering (ICO) support platform, has fallen victim to a suspected cyber attack and lost more than 70 million KICK tokens (or KickCoins) worth an estimated $7.7 million. In a statement released on its Medium post on July 26, the company acknowledged the security breach, informing its customers that an unknown attacker managed to gain access to the account of the KICK smart contracts and the tokens of the KICKICO platform on last Thursday at around 9:04 (UTC). KICKICO admitted that the company had no clue about the security breach until and unless several of its customers fell victim and complained about losing KickCoin tokens worth $800,000 from their wallets overnight. However, after investigating, the company found that the total amount of stolen funds was 70,000,000 KickCoin, which, at the current exchange rate, is equivalent to $ 7.7 million. KICKICO reported that suspected attackers

China's central bank today announced an immediate ban on all ICO—Initial Coin Offering—fundraising, to prevent fraud and illegal fundraising. ICO is the hottest new thing in the blockchain world, which is an alternative to crowdfunding that lets a firm raise funding from multiple sources. The People's Bank of China (PBoC), the country's central bank and financial regulator, has issued an official notice on Monday, forbidding "all types of currency issuance financing activities" that have "seriously disrupted the economic and financial order." This PBoC's bold move has been backed by many other Chinese government administrators and regulators including the China Securities Regulatory Commission, China Insurance Regulatory Commission and the Ministry of Industry and Commerce, and China Banking Regulatory Commission. This move marks the end of an era of ICO fundraising in China. The regulator claims that ICOs are being misused for "

Over the past two years, a shocking  51% of organizations surveyed in a leading industry report have been compromised by a cyberattack.  Yes, over half.  And this, in a world where enterprises deploy  an average of 53 different security solutions  to safeguard their digital domain.  Alarming? Absolutely. A recent survey of CISOs and CIOs, commissioned by Pentera and conducted by Global Surveyz Research, offers a quantifiable glimpse into this evolving battlefield, revealing a stark contrast between the growing risks and the tightening budget constraints under which cybersecurity professionals operate. With this report, Pentera has once again taken a magnifying glass to the state of pentesting to release its annual report about today's pentesting practices. Engaging with 450 security executives from North America, LATAM, APAC, and EMEA—all in VP or C-level positions at organizations with over 1,000 employees—the report paints a current picture of modern security validation prac