Blockchain
IntSights and CipherTrace Reveal Systemic Cybercrime Ecosystem in Latin America as Attackers Target Global Organizations
IntSights, the threat intelligence company focused on enabling enterprises to Defend Forward™, and CipherTrace, the leader in cryptocurrency intelligence for enabling the blockchain economy, partnered to release the industry’s first deep dive into the cybercrime and crypto-economy of Latin American in the report, The Dark Side of Latin America: Cryptocurrency, Cartels, Carding, and the Rise of Cybercrime.
Latin America boasts some of the most sophisticated threat actors and organized crime groups in the world, but enterprise security teams without a presence in the region often overlook it. Economic struggles, political corruption, internet censorship, and the prevalence of organized crime in Latin America all contribute to the growth of cybercrime. Companies across the region and beyond are struggling to keep up with threat actors that are financially motivated, coordinated, and persistent in their efforts to fraud, scam, and steal from consumers and businesses alike.
“Cybercrime in LATAM happens out in the open, through open-source channels. This highlights the lack of government response and cultural acceptance of cybercrime as an alternative way to make money,” said Charity Wright, Cyber Threat Intelligence Advisor, IntSights. “These cybercriminals are not forming advanced persistent threat (APT) groups, but rather are partnering with local cartels and drug groups to expand businesses and opportunities. This cybercrime ecosystem is now extending beyond the continent to countries and organizations that underestimate the sophistication and impact of attacks emanating from LATAM.”
Threat finance is evolving in Latin America as organized crime groups turn to cryptocurrency to launder large sums of money and dive into the dark web to find hackers for hire. Latin American countries top the list of the world’s most active money laundering nations. The constant flow of money in the organized crime community feeds into dark web markets and into the cybercrime ecosystem. Organized crime groups and drug cartels in Latin America are taking advantage of technological advances in digital banking and money transfers.
“LATAM cybercriminals are operating almost exclusively through unregulated cryptocurrency exchanges, capitalizing on the anonymity cryptocurrency offers. While these exchanges are popular, some bad actors still use trusted networks or illegal peer-to-peer (P2P) exchanges to launder their cryptocurrency. Although this method is not novel, it is evolving with the introduction of cryptocurrencies in the criminal underground and is enabled by widespread political corruption in many countries,” said Pamela Clegg, Director of Financial Investigations and Education, CipherTrace.
IntSights is proud to partner on this report with regional cybersecurity experts CipherTrace and Scitum. Our shared expertise in serving Latin American enterprises with incident response, information security, and intelligence makes this report the first of its kind to address multiple aspects of criminal behavior, its effects on enterprises worldwide, and practical methods for protecting organizations against these threats.
SOURCE IntSights
The anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to stir anxiety within the cryptocurrency market. This significant influx of Bitcoin, which has been tied up since the collapse of the Mt. Gox exchange in 2014, raises questions about its potential impact on market dynamics and investor sentiment.
The return of these long-dormant Bitcoin holdings may lead to increased volatility and uncertainty in the cryptocurrency market. Market participants are likely to closely monitor the movement of these funds and assess their potential impact on Bitcoin prices and overall market stability.
Additionally, the large-scale return of Bitcoin from the Mt. Gox era may trigger concerns about potential selling pressure and its effect on market liquidity. Investors may anticipate fluctuations in Bitcoin prices as these funds are reintroduced into the market and traded.
Furthermore, the return of these Bitcoin holdings highlights the ongoing legal and regulatory challenges associated with the Mt. Gox saga. The resolution of this long-standing issue could have far-reaching implications for investor confidence and the perception of security within the cryptocurrency ecosystem.
Overall, the anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to evoke anxiety among market participants and prompt heightened scrutiny of market dynamics. As the cryptocurrency market braces for this significant development, it remains to be seen how it will navigate the potential challenges and opportunities presented by the return of these funds.
Source: blockchain.news
The post Anticipated Return of $9B Mt. Gox-era Bitcoin May Spur Market Anxiety appeared first on HIPTHER Alerts.
Blockchain
Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration
Binance is currently embroiled in a legal dispute in Canada over allegations of selling cryptocurrency derivative products without proper registration. This lawsuit underscores the regulatory challenges facing the cryptocurrency exchange in various jurisdictions.
The lawsuit accuses Binance of offering crypto derivative products to Canadian investors without obtaining the necessary registration from Canadian securities regulators. This legal action highlights the importance of compliance with regulatory requirements in the cryptocurrency industry, particularly concerning the sale of derivative products.
Binance’s legal woes in Canada reflect broader concerns about regulatory compliance and investor protection within the cryptocurrency sector. As authorities worldwide increase scrutiny of cryptocurrency exchanges and trading platforms, companies like Binance face mounting legal and regulatory challenges.
The outcome of this lawsuit could have significant implications for Binance and the broader cryptocurrency industry in Canada. Depending on the court’s ruling, it could lead to increased regulatory oversight and stricter enforcement measures for cryptocurrency exchanges operating in the country.
In response to the lawsuit, Binance has stated that it is committed to compliance with all applicable laws and regulations in the jurisdictions where it operates. However, the outcome of this legal dispute will likely shape the regulatory landscape for cryptocurrency exchanges in Canada and influence their future operations and compliance efforts.
Source: blockchain.news
The post Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration appeared first on HIPTHER Alerts.
The Cardano Foundation has announced the launch of Pragma, marking a significant milestone in open-source blockchain development. Pragma aims to revolutionize Cardano by enhancing its infrastructure through innovative open-source projects.
Pragma represents a new chapter in the evolution of Cardano, focusing on improving its underlying infrastructure and expanding its capabilities. The initiative underscores the Cardano Foundation’s commitment to fostering innovation and driving progress within the blockchain ecosystem.
By leveraging open-source projects, Pragma seeks to enhance Cardano’s functionality and scalability, paving the way for broader adoption and increased utility. These efforts are expected to unlock new opportunities for developers and users alike, further cementing Cardano’s position as a leading blockchain platform.
Pragma’s launch highlights the ongoing evolution of Cardano and its commitment to pushing the boundaries of blockchain technology. Through collaborative open-source development, Pragma aims to address key challenges and drive continuous improvement within the Cardano ecosystem.
The Cardano Foundation’s announcement of Pragma signals a significant step forward in its mission to build a decentralized and sustainable blockchain infrastructure. With Pragma, Cardano is poised to embark on a new era of innovation and growth, setting the stage for a future of unprecedented possibilities in blockchain development.
Source: cryptonews.com
The post Cardano Foundation Launches PRAGMA: A New Chapter in Open-Source Blockchain Development appeared first on HIPTHER Alerts.
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