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Category Archives: Cryptocurrency

The Quick and the Dead: building up cyber resilience in the financial sector

Introductory remarks by Fabio Panetta, Member of the Executive Board of the ECB, at the meeting of the Euro Cyber Resilience Board for pan-European Financial Infrastructures, Frankfurt am Main, 8 March 2023 – “The proliferation of cyber threat actors combined with an increase in remote working and greater digital interconnectedness is raising the risk, frequency and severity of cyberattacks. Increasingly, cyber criminals are launching ransomware attacks and demanding payment in crypto. Cyberattacks related to geopolitical developments – Russia’s aggression against Ukraine in particular – have also become a more common feature of the cyber-threat landscape. The Euro Cyber Resilience Board for pan-European Financial Infrastructures (ECRB) has played a key role in protecting the security and integrity of the financial system from these threats. The last three years have shown that we can work under adverse conditions towards a common goal. Our financial infrastructures have proven their resilience to cyber threats. But this does not mean we can become complacent or any less vigilant in the face of cyber threats. We simply cannot afford to fall behind the curve: cybersecurity must be the backbone of digital finance…”

US says Google routinely destroyed evidence and lied about use of auto-delete

Ars Technica: “The US government asked a federal court to sanction Google for allegedly using an auto-delete function on chats to destroy evidence needed in an antitrust lawsuit while falsely telling the government that it suspended its auto-deletion practices. The US motion to sanction Google seeks a ruling that Google violated the rule against spoliation… Continue Reading

Pete Recommends – Weekly highlights on cyber security issues, February 26, 2023

Via LLRX – Pete Recommends – Weekly highlights on cyber security issues, February 26, 2023:  Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly… Continue Reading

Blockchain – Innovation or Illusion?

Via Slashdot, EditorDavid: “Adam R. Smith, a software engineer with 40+ years of experience reportedly became frustrated with his friends and associates’ claims about the potential of crypto technology and their subsequent losses of money in various schemes, and set out to write a series of articles explaining what blockchain is and whether it lives… Continue Reading

FTX creditor list shows airlines, charities and tech firms caught in collapse

Coin Telegraph: “The over 100-page long document lists every entity FTX owes money to, from Big Tech players to local businesses near its Bahamian headquarters. A complete list of the creditors owed money by the bankrupt cryptocurrency exchange FTX has been released, revealing a myriad of companies and government entities wrapped up in its collapse.… Continue Reading

NY – Consumer Protection Guidance In the Event of Virtual Currency Insolvency

“Today New York Department of Financial Services (“DFS”) Superintendent Adrienne A. Harris released Regulatory Guidance to better protect customers in the event of an insolvency or similar proceeding. The Regulatory Guidance reiterates expectations for sound custody and disclosure practices and the paramount importance of the equitable and beneficial interest in the asset always remaining with… Continue Reading

Addressing the risks in crypto: laying out the options

BIS Bulletin | No 66 | 12 January 2023 by Matteo Aquilina, Jon Frost and Andreas Schrimpf PDF full text  The recent high-profile failures of FTX and other crypto firms have re-ignited the debate on the appropriate policy response to address the risks in crypto, including through regulation. The “shadow financial” functions enabled by crypto markets share… Continue Reading

Regulators warn US banks on crypto risks including ‘fraud and scams’ after FTX collapse

CNBC: “U.S. banking regulators warned financial institutions on Tuesday that dealing with cryptocurrency exposes them to an array of risks, including scams and fraud. “The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto-asset sector,” the regulators said in a joint statement from the Federal… Continue Reading

Inventing the Dark Web

Via LLRX – Inventing the Dark Web – This paper by Thais Sardá, Simone Natale, and John Downey examines how the deep Web, i.e., Web sites that are not indexed and thus are not accessible through Web search engines, was described and represented in British newspapers. Through an extensive content analysis conducted on 833 articles… Continue Reading

Gone But Not Forgotten (Yet): The Tech That Died in 2022

PC Mag: “This year saw the usual introduction of next-gen smartphones, laptops, operating systems, and smart home devices, with a few unique offerings thrown in there, too. But for all the innovative tech that made headlines or passed through our labs in 2022, there were just as many products and services that powered down for… Continue Reading

Inventing the dark Web: Criminalization of privacy and the apocalyptic turn in the imaginary of the Web

Inventing the dark Web: Criminalization of privacy and the apocalyptic turn in the imaginary of the Web by Thais Sardá, Simone Natale, and John Downey. First Monday, Volume 27, Number 11 – 7 November 2022. doi: “This paper examines how the deep Web, i.e., Web sites that are not indexed and thus are not… Continue Reading