To crack down on the criminal use of cryptocurrency, including for ransomware, authorities are increasingly targeting "cryptocurrency businesses that do not have the compliance controls in place necessary to mitigate the risks of illicit activity," says Ari Redbord of TRM Labs.
In the latest weekly update, four editors at Information Security Media Group discuss important cybersecurity issues, including how the ransomware-as-a-service model shifted in 2021, the rise of fraud in faster payments and how to prevent it, and one CISO's take on the state of the industry.
As network defenders continue to patch or mitigate against the remote code execution vulnerability in the Java-based logging utility Log4j, several cybersecurity vendors - and the U.S. CISA - have issued scanning and assessment tools to speed up the identification process.
ISMG's global editorial team reflects on the top cybersecurity news and analysis from 2021 and looks ahead to the trends already shaping 2022. From ransomware to Log4j, here is a compilation of major news events, impacts and discussions with leading cybersecurity experts on what to expect in the new year.
A ransomware operation called Vice Society has claimed credit for attacks that hit two groups of independently owned and operated Spar-branded stores in England and the Isle of Man earlier this month. Threat intelligence firm Kela says thousands of stolen documents have been dumped online.
A vulnerability in Polygon, a framework used to build Ethereum-compatible blockchain networks, has been fixed. The bug, discovered by white hat hackers at bug bounty platform Immunefi, would have put 9,276,584,332 MATIC, worth nearly $23 billion, at risk.
A ransomware attack disrupted the operations of Norway-based media company Amedia, which publishes more than 70 newspapers for 2 million readers. The Tuesday attack on the company's computer systems forced it to shut the presses, says Amedia's executive vice president of technology, Pål Nedregotten.
ONUS, one of Vietnam's largest cryptocurrency platforms, has reportedly fallen victim to a ransomware attack that has been traced to Apache's remote code execution vulnerability, Log4j, via third-party payment software. CrowdStrike has also detected Chinese APT activity around the logging flaw.
LastPass says none of its users accounts have been compromised, although multiple users of the password manager reported receiving email warnings that are normally sent to users who log in from different devices and locations, causing them to think their master passwords had been compromised.
Seven vulnerabilities - including one rated critical and five high-severity - in Schneider Electric's EVlink products have been patched, according to security researcher Tony Nasr. Exploitation of the vulnerabilities would allow attackers to manipulate configurations and settings.
In the U.S., three states now have disparate data privacy laws - and more are coming. Meanwhile, China has enacted a new law that has global enterprises scrambling. How will these and other actions shape privacy discussions in 2022? Noted attorney Lisa Sotto shares insights.
Another Log4j patch has been released by the Apache Software Foundation, the nonprofit supporting Apache's open-source software projects. Its Log4j version 2.17.1 fixes a newly disclosed remote code execution vulnerability tracked as CVE-2021-44832.
U.S. President Joe Biden on Monday signed into law the National Defense Authorization Act for fiscal year 2022, which contains $768 billion in defense spending - 5% more than 2021 - and several cybersecurity provisions, including expansion of the Cybersecurity and Infrastructure Security Agency.
On the cusp of 2022, John Kindervag - the father of the Zero Trust security model - reflects on how the Zero Trust dialogue has evolved in 2021 and makes his New Year's predictions. Will the president's executive order be an accelerator or an anchor? Which myths are ripe to be busted?
A Republican senator will soon introduce a bill that, for the first time, attempts to regulate the cryptocurrency space. The bill would reportedly add investor protections, rein in stablecoins and create a self-regulatory organization under the jurisdiction of the SEC and CFTC.
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