Internet Security

Cyber arms dealer exploits new Apple iPhone software vulnerability; affects most versions – researchers

A cyber surveillance company based in Israel has developed a tool than can break into Apple iPhones with a never-before-seen technique for at least six months, internet security watchdog group Citizen Lab said on Monday. The discovery is important because of the critical nature of the vulnerability, which affects all versions of Apple’s iOS, OSX,…

A cyber surveillance company based in Israel has developed a tool than can break into Apple iPhones with a never-before-seen technique for at least six months, internet security watchdog group Citizen Lab said on Monday. The discovery is important because of the critical nature of the vulnerability, which affects all versions of Apple’s iOS, OSX, […]
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Internet Security

US probe into Binance reportedly expands to investigate insider trading

Binance is apparently facing more pressure from regulators over possible abuses at its cryptocurrency exchange. Bloombergsources said US officials have expanded their probe of Binance to include possible insider trading and market manipulation. The company hasn’t been accused of wrongdoing, but Commodity Futures Trading Commission investigators have reportedly inquired with potential witnesses about issues like…

Binance is apparently facing more pressure from regulators over possible abuses at its cryptocurrency exchange. Bloombergsources said US officials have expanded their probe of Binance to include possible insider trading and market manipulation. The company hasn’t been accused of wrongdoing, but Commodity Futures Trading Commission investigators have reportedly inquired with potential witnesses about issues like the location of Binance servers (and thus whether the US can pursue any cases).The commission had previously launched an investigation into the sales of derivatives tied to cryptocurrencies. It’s reportedly looking for internal Binance data that might show sales of those derivatives to American customers, breaking regulations that forbid those sales without registrations. The Internal Revenue Service and Justice Department are also probing possible money laundering on the exchange.There are no guarantees of action. The CFTC and Justice Department have supposedly been investigating Binance for months, and any decisions might take a while longer.Not surprisingly, Binance said it was above-board. A spokesperson told Bloomberg the exchange had a “zero-tolerance” approach to insider trades as well as ethical codes and security guidelines to prevent those actions. The company added that it fires offenders at a bare minimum. The CFTC has declined to comment.The heightened scrutiny of Binance, if accurate, would come as part of a larger US crackdown on cryptocurrencies. Officials are concerned the lack of consumer protections (including regulation) might hurt customers who sign up for services expecting the same safeguards they have with conventional money. In this case, the focus is on accountability — insider trading could wreck valuable investments and erode trust in Binance and other crypto exchanges.
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Internet Security

How to Use Arbitrum Bridge to Transfer Tokens From the Ethereum Network to Arbitrum

Arbitrum was built by Off-chain Labs, which is considered a layer two solution for Ethereum dApps. Arbitrum bridge was designed to improve the limitations of the Ethereum network. It offers high-throughput and low-cost fees transactions along with maintaining high-security standards. The platform is backed up by a world-class team of researchers, engineers, and Ethereum enthusiasts.…

Arbitrum was built by Off-chain Labs, which is considered a layer two solution for Ethereum dApps. Arbitrum bridge was designed to improve the limitations of the Ethereum network. It offers high-throughput and low-cost fees transactions along with maintaining high-security standards. The platform is backed up by a world-class team of researchers, engineers, and Ethereum enthusiasts. […]
The post How to Use Arbitrum Bridge to Transfer Tokens From the Ethereum Network to Arbitrum appeared first on Altcoin Buzz.
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Internet Security

Authorities To Imprison A Man From Ohio For Defrauding $30 Million In A Cryptocurrency Scam

An Ohio man will be getting 20 years in prison for carrying out a cryptocurrency scam. Michael Ackerman has pleaded guilty to the crime and might be spending a long time in prison. According to the US Justice Department, the man pleaded guilty to the multi-million dollar cryptocurrency scam last week. A Cryptocurrency Scam Worth…

An Ohio man will be getting 20 years in prison for carrying out a cryptocurrency scam. Michael Ackerman has pleaded guilty to the crime and might be spending a long time in prison. According to the US Justice Department, the man pleaded guilty to the multi-million dollar cryptocurrency scam last week. A Cryptocurrency Scam Worth Of Millions Michael Ackerman planned and executed a cryptocurrency scam in 2017. This scheme promised to pay investors 15% on their investments every month. Even though the benefits were too dubious and impossible, many investors rushed in to utilize the opportunity. The scam was called the “Q3 Trading Club,” a fund that used investor’s money to make the supposed profits to be shared as returns. On September 8, 2021, a US attorney, Audrey Strauss from the New York Southern District, announced that Ackerman had pleaded guilty to the charges. According to Strauss, the man agreed to have caused the victims to lose above $30 million in cryptocurrency assets. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course In the announcement, the attorney stressed that Arkerman agreed to have used his fake crypto scheme to steal millions from investors with the promise of 15% monthly returns. In addition, Strauss also disclosed that Michael Ackerman used fake documents to deceive the investors. His balances showed more than $315 million in the fund. But the reality was just a little above $5 million from the DoJ’s discoveries. The attorney also revealed that Ackerman stole investors’ money amounting to $9 million just to continue his lavish lifestyle. The man spent a lot of money on vehicles, real estate, personal security, traveling, and jewelry. Michael Ackerman Agrees To Pay The announcement also stated that Michael Ackerman has pleaded guilty to wire fraud. He agreed to pay back $30 million and forfeit at least $36 million in real estate, jewelry, cash which he acquired fraudulently. As for now, the sentencing will take place on January 5th, 2022. The first charges came from the SEC in 2020. The crime was the violation of securities laws by Michael Ackerman. Related Reading | Bitfinex To Roll Out Security Token Offerings (STOs) Platform In Kazakhstan The reports then showed that he used a private group that he created on Facebook to target physicians. The group was called “Physicians Dad’s Group,” and the SEC discovered his fraudulent intent. Michael Ackerman has never worked as an institutional broker in the New York Stock Exchange. Instead, he was operating as one of three scammers, including James, a Wells Fargo financial advisor, and another member, a surgeon called Quan Tran. In 2020 April, the victims of the incident sued Fargo for not investigating its employee. Featured Image From Pixabay
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Ukraine Adopts New Law To Legalize Bitcoin And Other Cryptocurrencies

More governments are acknowledging the staying power of cryptocurrencies like bitcoin. Ukraine is the latest to join the growing list of countries that have legalized crypto. Just this week, El Salvador became the first country to adopt bitcoin as legal tender. Two weeks ago, Cuba passed a law to recognize and regulate cryptocurrencies, citing “reasons…

More governments are acknowledging the staying power of cryptocurrencies like bitcoin. Ukraine is the latest to join the growing list of countries that have legalized crypto. Just this week, El Salvador became the first country to adopt bitcoin as legal tender. Two weeks ago, Cuba passed a law to recognize and regulate cryptocurrencies, citing “reasons of socio-economic interest.” Panama is also drafting new cryptocurrency regulations. Related Reading | Panama To Recognize Bitcoin As Payment Alternative, Issues New Regulations In a nearly unanimous vote, the Parliament in Ukraine passed a law to legalize cryptocurrency. Earlier last month, there were reports of a new cryptocurrency-related bill that would allow payments in cryptocurrencies. As of then, the bill was being prepared in the parliament for the second reading, according to a local report. On Wednesday, however, the Ukrainian Parliament adopted the draft law “On Virtual Assets”. Thus legally recognizing cryptocurrency in the country for the first time. The law will enter into force after lawmakers approve amendments to the country’s tax code about the taxation of cryptocurrency transactions. Although, the Ukrainian legislature is yet to vote on these changes. This news comes after Ukrainian President Volodymyr Zelensky signed the law On Payment Services, another digital currency-related law. The law officially allowed Ukraine’s central bank to issue a central bank digital currency, the digital hryvnia. What The Law Says Unlike El Salvador’s move to adopt bitcoin as legal tender, Ukraine’s crypto law clearly states that cryptocurrencies do not constitute legal tender. However, it is an indication that the country is leaning more into bitcoin. The new law recognizes virtual assets as both secured and unsecured intangible goods. However, cryptocurrencies are not accepted as a legal means of payment, and their exchange for other goods or services will not be allowed. “Ukrainians will also be able to declare their income in virtual assets,” said Anastasia Bratko of the Ministry of Digital Transformation. She added that the law “guarantees judicial protection of the rights to virtual asset owners.” The law mandates that the term ‘Financial virtual assets’ be issued by registered entities. Crypto market participants will be able to independently determine the value of virtual assets, open bank accounts to settle transactions, and seek judicial protection for associated rights. Service providers are required to abide by the country’s anti-money laundering regulations and prevent attempts to finance terrorism using their platforms, just like traditional financial institutions. History Of Crypto In Ukraine The laws on crypto in Ukraine were previously somewhat gray. Cryptocurrency trading was not illegal in the country even before the legislation. However, there were no laws around it. Locals were allowed to buy and exchange virtual currencies, but companies and exchanges dealing in crypto were often under close watch by law enforcement. Two years ago, Ukraine’s Ministry of Digital Transformation was established. It became very active in the crypto field. It partnered with Binance to jointly work on new crypto rules. The Government’s online portal reported that the Ministry of Digital Transformation partnered with a crypto exchange, Currency.com, a Belarusian service that is allegedly the first regulated exchange in the Commonwealth of Independent States (CIS) region to provide support for cryptocurrencies, fiat, and tokenized assets. Ukrainian authorities have been taking a combative stance towards illegal crypto activities. Total crypto market at $2.13 Trillion | Source: Crypto Total Market Cap from TradingView.com In August, the Security Service of Ukraine (SBU) blocked a network of “clandestine cryptocurrency exchanges” running in the capital city Kyiv. The SBU alleged these exchanges were facilitating money laundering and providing anonymity of transactions. Related Reading | Ukraine’s Security Service Closes Illegal Cryptocurrency Exchanges Current authorities have maintained a positive attitude towards the country’s growing crypto industry. By 2022, the country plans to open the cryptocurrency market to businesses and investors, according to this Kyiv Post. On an official state visit to the U.S. last month, the President of Ukraine, Volodymyr Zelensky, called on top investors, venture capital funds to actively cooperate with Ukraine. He spoke of Ukraine’s budding “legal innovative market for virtual assets” as a selling point for investment. Minister of Digital Transformation, Mykhailo Fedorov, also said that the country was modernizing its payment market so that its National Bank would be able to issue digital currency. Featured image from PYMNTS.com, Chart from TradingView.com
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