The hack of Beanstalk is just the latest major compromise of a decentralized finance (DeFi) platform. In this podcast, Jennifer Fernick of NCC Group joins me to talk about why DeFi’s security woes are much bigger than Beanstalk.
A small group of cybercriminals are responsible for the most damaging cyberattacks–often with the help of state sponsorship. Still, low-level criminal activity on the dark web still poses the most widespread and immediate security threat, with cryptocurrency mining, ransomware and malware all on the rise, a recent report has found.
North Korean state-sponsored hacking group Lazarus is believed to be behind a recent crypto jacking attack on several banks with an unexpected twist–the use of a Trojan that tricked a company employee into downloading malware, according to Kaspersky Lab.
Because of its potential to earn hackers millions in a steady stream of cash, Kaspersky Labs has deemed crypto-jacking the new ransomware in a report that arrived just as researchers spotted two new types of malware targeting the growing popularity of cryptocurrencies.
New malware that uses a device’s own computing power to mine Monero can render an Android smartphone unusable, security firm Trend Micro warned Wendesday.