Hunton Andrews Kurth writes: On November 15, 2022, the Federal Trade Commission announced a six-month extension for companies to comply with certain updated requirements of the Gramm-Leach-Bliley Act’s Safeguards Rule, a set of data security provisions covered financial institutions must implement to protect their customers’ personal information. The new deadline is June 9, 2023. The FTC announced updates to…
Category: Financial Sector
Taking down a ransomware hacker
An FBI investigation into a criminal ransomware gang believed to be tied to Russia led to a Canadian government employee in Gatineau, the largest cryptocurrency seizure in Canadian history and hundreds of victims around the world. Roxanna Woloshyn, Marie-Maude Denis and Linda Guerriero report: In the early morning hours of Jan. 27, 2021, two police…
Ransomware cost US banks $1.2 billion last year
Dan Robinson reports: Banks in the US paid out nearly $1.2 billion in 2021 as a result of ransomware attacks, a marked rise over the year before though it may simply be due to more financial institutions being asked to report incidents. The figures come from the most recent Financial Trend Analysis report [PDF] on ransomware from…
Bank of Brasilia Attacked by Ransomware Demanding 50 BTC
Rajeesh Khanna reports: On October 3, ransomware infected the Bank of Brasilia, a government-controlled bank in Brazil. The hackers wanted 50 BTC in exchange for not releasing customer data. Local news outlet Tecmundo claims that a hacker identified as “Crydat” contacted them, demanding payment of 5.2 million Brazilian reais by October 6 at 15:00. In…
Hacker steals $566 million worth of crypto from Binance Bridge
Lawrence Abrams reports: Hackers have reportedly stolen 2 million Binance Coins (BNB), worth $566 million, from the Binance Bridge. Details are scant at the moment, but the attack appears to have started at 2:30 PM EST today, with the attacker’s wallet receiving two transactions [1, 2], each consisting of 1,000,000 BNB. Soon after the hacker began spreading some…
Bankrupt Crypto Lender Celsius Reveals Thousands of Users’ Transaction Histories in Court Filing
Will McCurdy reports: Troubled crypto lender Celsius has revealed the names and transaction history of hundreds of thousands of its customers in a court filing. The 14,500-page long document contained information such as customer names, crypto wallet IDs, transaction types and amounts, which services the customer had used, and the types and quantities of tokens held. Read…