Tag: Hacks

World’s Biggest Bank ICBC Forced to Trade Via USB Stick After Russia-Linked Hack – Bloomberg

Industrial & Commercial Bank of China Ltd.’s US unit had been hit by a cyberattack, rendering it unable to clear swathes of US Treasury trades after entities responsible for settling the transactions swiftly disconnected from the stricken systems. That forced ICBC to send the required settlement details to those parties by a messenger carrying a thumb drive as the state-owned…

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Crypto Hack Lawsuits Rise as Theft Victims Try Untested Claims

Lawsuits against cryptocurrency exchanges, digital wallet providers, and mobile service companies following cyberattacks reached a new high in 2022, as hacking victims increasingly test unproven legal claims to recoup their crypto losses. At least 50 individual lawsuits and proposed class actions have been brought since 2017 by victims—and occasionally companies—against entities they blame for failing to protect their crypto assets…

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FTX Bankruptcy: US DOJ Probes How $372 Million Vanished in Hack After Filing – Bloomberg

Federal prosecutors are investigating an alleged cybercrime that drained more than $370 million out of FTX just hours after the cryptocurrency exchange filed for bankruptcy last month. The Department of Justice has launched a criminal probe into the stolen assets that is separate from the fraud case against FTX co-founder Sam Bankman-Fried, according to a person familiar with the case…

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