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☆ How did the auto dealer outage end? CDK almost certainly paid a $25 million ransom
▼ + stars: | 2024-07-11 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +4 min

Pinpointing exactly who sends a cryptocurrency payment can be complicated by the relative anonymity that some crypto services offer. The ransom payment of $25 million hasn’t been previously reported. A $25 million ransom payment is certainly large but not unheard of in the lucrative ransomware economy. UnitedHealth Group, the health care conglomerate whose subsidiary suffered a ransomware attack in February that hobbled pharmacies across the US, paid a $22 million ransom to a different criminal group. But the average ransom payment in the fourth quarter of 2023 was significantly lower: $568,705, according to cybersecurity firm Coveware.

Persons: —, Chris Janczewski, CDK, Janczewski, Lisa Finney, Finney, Brian MacDonald, ” CDK, ”, Jon DiMaggio, Analyst1, ” DiMaggio Organizations: CNN, CDK, TRM Labs, Bloomberg, CBS, US Department of Health, Human Services, UnitedHealth Locations: North America, Chainalysis

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto company led by former NYSE president acquires news outlet CoinDesk: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Chris Janczewski, head of global investigations at blockchain intelligence company TRM Labs, explains which crypto crimes were most popular in 2023.

Persons: explainers, Chris Janczewski Organizations: CNBC Crypto, CNBC, TRM Labs

☆ Crypto protection and insurance startup Coincover just raised $30 million in fresh funds. Check out the 18-slide pitch deck it used to land the cash.
▼ + stars: | 2023-02-09 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Cryptocurrency protection and insurance startup Coincover just raised $30 million in funding. Check out the 18-slide pitch deck it used to land the fresh capital below. A startup that offers protection to crypto users against issues like loss of access to their digital assets has raised $30 million in fresh funds. The deal takes Coincover to $41.6 million in funds raised to date. Check out the 18-slide pitch deck Coincover used to raise the funds below:

☆ Crypto exchanges enabled online child sex-abuse profiteer
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +22 min

These sites often included links for users to pay via crypto exchanges, the IWF told Reuters, declining to name companies. “For those people looking to make money from child sexual abuse, crypto has lowered the barrier,” said Dan Sexton, the IWF’s chief technology officer. The Dark Scandals website, owned by Michael Mohammad, instructs users to send tokens to a Dark Scandals digital wallet to purchase content. While banks and payment platforms demanded more details from online merchants, many crypto exchanges for years requested little or no information from clients. The IWF received more reports last year of websites selling child abuse imagery for crypto than any year prior.

The U.S. Justice Department, in a report this September, said many crypto exchanges still "make little or no effort to comply" with know-your-customer requirements. These sites often included links for users to pay via crypto exchanges, the IWF told Reuters, declining to name companies. While banks and payment platforms demanded more details from online merchants, many crypto exchanges for years requested little or no information from clients. Asked at his trial for his opinion of crypto, Mohammad noted, "Privacy is something that a lot of users value." The IWF received more reports last year of websites selling child abuse imagery for crypto than any year prior.

☆ Pro-Russian military groups using crypto to raise funds: TRM Labs
▼ + stars: | 2022-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPro-Russian military groups are using cryptocurrency to raise funds: Blockchain intelligence firmChris Janczewski of TRM Labs says $400,000 has been raised since the beginning of Russia's invasion of Ukraine in February.

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