Hacker Gets $50 Million in Heist of DeFi’s Mango

The community of decentralized-finance application Mango DAO on Saturday got back a portion of about $100 million stolen this week after letting the hacker keep about $50 million of the funds. The settlement wraps up several days of tense negotiations between the hacker and Mango, which is governed by its community of token holders who…

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3 Iranian Citizens Charged in Broad Hacking Campaign in US

The Justice Department said Wednesday that three Iranian citizens have been charged in the United States with ransomware attacks that targeted power companies, local governments and small businesses and nonprofits, including a domestic violence shelter. The charges accuse the hacking suspects of targeting hundreds of entities in the U.S. and around the world, encrypting and…

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Lloyd’s Insurers Must Exclude State-Backed Cyber Attacks to Avoid Systemic Risks

  Lloyd’s insurers must exclude state-backed cyber attacks in standalone (or affirmative) cyber policies, according to a Lloyd’s market bulletin issued this week. The exclusion would include liability for losses arising from both war- and non-war-related state-backed cyber attacks. “Lloyd’s remains strongly supportive of the writing of cyber attack cover but recognizes also that cyber-related…

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FBI warns hackers are using fake crypto apps to defraud investors

  FBI warns hackers are using fake crypto apps to defraud investors The FBI has issued a public warning about fraudulent cryptocurrency investment apps after hackers posing as legitimate services stole tens of millions of dollars from U.S. investors. In an advisory published on Monday, the law enforcement agency said hackers have been posing as legitimate cryptocurrency investment organizations in…

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