Security News This Week: Ring Is in a Standoff With Hackers

Plus: A SpaceX supplier ransom, critical vulnerabilities in dozens of Android phones, and more. Powered by...

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Several Crypto Mining Operations Busted in Russia
Mar19

Several Crypto Mining Operations Busted in Russia

Authorities and power utilities in various Russian regions have shut down illegal crypto mining farms, seizing hardware and taking operators to court. The action against the coin minting facilities comes amid discussions on a proposal to introduce criminal liability for miners breaking the upcoming legislation for the industry. ‘Underground’ Crypto Mining Farms Shut Down Across Russia Police and power suppliers have uncovered and...

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Chair of EU Parliament’s Committee on Budgets Calls for Crypto Ban Amid Banking Turmoil
Mar19

Chair of EU Parliament’s Committee on Budgets Calls for Crypto Ban Amid Banking Turmoil

A European lawmaker has urged authorities to impose a ban on cryptocurrencies citing the current crisis in the banking sector as a reason. Johan Van Overtveldt, former finance minister of Belgium, believes these assets bring no economic or social value. Belgium’s Ex-Finance Minister Suggests Ban on Decentralized Digital Currencies Member of the European Parliament, Johan Van Overtveldt, has insisted that governments should prohibit...

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Major Cryptocurrency ATM Manufacturer General Bytes Hacked, Over $1.5M in Bitcoin Stolen
Mar19

Major Cryptocurrency ATM Manufacturer General Bytes Hacked, Over $1.5M in Bitcoin Stolen

General Bytes experienced a security incident on March 17 and 18 that enabled a hacker to remotely access the master service interface and send funds from hot wallets, according to the company and sources. The breach forced a majority of U.S.-based crypto automated teller machine (ATM) operators to temporarily shut down. The hacker was able to liquidate 56.28 bitcoins, worth approximately $1.5 million, from about 15 to 20 crypto ATM...

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Mike Novogratz Warns of Credit Crunch in US and Globally — Expects Fed to Cut Rates ‘Sooner Than We Think’
Mar19

Mike Novogratz Warns of Credit Crunch in US and Globally — Expects Fed to Cut Rates ‘Sooner Than We Think’

Galaxy Digital CEO Mike Novogratz has warned of a credit crunch in the U.S. and globally. Emphasizing that “we are heading into a recession,” he expects the Federal Reserve to cut interest rates “sooner than we think.” Novogratz on Global Credit Crunch and Recession Galaxy Digital CEO Mike Novogratz shared his outlook for the U.S. economy in an interview with CNBC Wednesday. Comparing the current market condition to one in December...

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