Italian authorities have found Bitgrail’s founder responsible for fraudulent activity related to the 2018 hack of the platform that resulte in the loss of $150 million. Francesco Firano, the sole director of now-defunct cryptocurrency exchange Bitgrail, is accused of taking over customer funds prior to reporting the theft of crypto from the exchange. According to a Dec. 21 announcement by the Postal and Communications Police — a cybercrime unit of the State Police of Italy — Firano kept the platform intact for months despite having identified a major security breach involving Nano cryptocurrency: “In keeping the platform open, despite having …
The Cybercrime Department of the Turkish National Police has arrested 11 suspects in an alleged hack of crypto accounts, with victims reporting more than $80,000 in losses, major Turkish newspaper Hürriyet reported Friday, Nov. 2. According to the article, 14 individuals have reported to local prosecution authorities that their crypto wallets were hacked with their Bitcoin (BTC) transferred to other wallets. Following the complaints, the Istanbul police launched an investigation against a group of hackers that had allegedly compromised users’ emails, crypto wallets’ accounts data, and passwords. On Oct. 26, cybercrime unit agents detained 11 people in multiple locations in …
Employees of the local headquarters of the National Police in Rivne, Ukraine have been mining cryptocurrency at work, local news outlet 368.media reports today, May 22. Citing materials from criminal proceedings, 368.media reports that employees of the local Police’s Communications Department have been accused of stealing electricity to mine cryptocurrency in the workplace. The unnamed employees were allegedly mining cryptocurrency at work for four months. 368.Media notes that it is yet unclear how much electricity was reportedly stolen or what kind of cryptocurrency was being mined. 368.Media writes that employees at the National Police’s Department for Internal Security found cryptocurrency …
Crypto is going mainstream, and the world’s younger generation, in particular, is taking note. Cryptocurrency exchange Crypto.com recently predicted that crypto users worldwide could reach 1 billion by the end of 2022. Further findings show that Millennials — those between the ages of 26 and 41 — are turning to digital asset investment to build wealth. For example, a study conducted in 2021 by personal loan company Stilt found that, according to its user data, more than 94% of people who own crypto were between 18 and 40. Keeping children safe While the increased interest in cryptocurrency is notable, some …
Netherland-based Maastricht University (UM) is set to recover nearly €500,000 ($512,150) worth of Bitcoin (BTC) after the police authorities managed to solve the infamous ransomware attack in December 2019. In 2019, a ransomware hack targeted the said university and froze all its research data, emails and library resources. The hackers demanded €200,000 in BTC and the university, fearing losing critical research data, decided to pay the said amount . The Dutch Public Prosecution Service (DDPS) managed to track down one of the crypto wallets associated with the hack in 2020 to Ukraine and froze funds in the account valued at …