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Biden sanctions Suex cryptocurrency exchange to stifle ransomware payments

CSO Magazine

The Biden administration has introduced new sanctions against cryptocurrency exchange Suex to stifle revenue for ransomware groups. Suex, which has been accused by US officials of doing business with ransomware actors in the past, has had its access to US markets cut off as a result.

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A week in security (Nov 1 – Nov 7)

Malwarebytes

Celebrity jewelry house Graff falls victim to ransomware Lessons from a real-life ransomware attack Is Apple’s Safari browser the last, best hope for web privacy? US offer $10m bounty for ransomware kingpins. Source: IT Brief) CERT-France has identified the ransomware group behind attacks on French companies.

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How the Russia-Ukraine war makes ransomware payments harder

CSO Magazine

Last year, before the onset of the Russia-Ukraine war, nearly 75% of cryptocurrency payouts for ransomware went to Russia, according to a study conducted by Chainanalysis. Let that sink in a moment. Then consider the legal ramifications of paying those ransoms now that Russia is a sanctioned country.

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EU takes aim at ransomware with plans to make Bitcoin traceable, prohibit anonymity

CSO Magazine

A key element of those proposals includes changes to make crypto asset transfers more traceable and secure by forcing companies to collect certain details on recipients and senders and prohibiting the use of anonymous cryptocurrency wallets. To read this article in full, please click here

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Feds seize $2.3 million in cryptocurrency wallet reportedly used in Colonial Pipeline ransomware attack

CSO Magazine

million that allegedly represents some portion of a May 8 payment by the Colonial Pipeline company to DarkSide ransomware attackers. million in bitcoin to restore full functionality to its systems following the crippling ransomware attack announced by the company on May 7. bitcoins currently valued at approximately $2.3

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Law enforcement crackdowns and new techniques are forcing cybercriminals to pivot

CSO Magazine

It can seem like cybercriminals are running rampant across the world's digital infrastructure, launching ransomware attacks, scams, and outright thefts with impunity.

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BrandPost: Better Cyber Hygiene is Critical to Preventing a Damaging Cyberattack

CSO Magazine

This reality has certainly been on display in recent months, as several headline-making ransomware attacks hit major companies, including Colonial Pipeline. In that attack, the nation’s gas supply was temporarily impacted, and Colonial paid more than $4 million in cryptocurrency as a ransom.