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Nearly one in four users are unaware of <keyword id="16358041" type="General" weightage="20" keywordseo="crypto-cybercrime-risks" source="Orion">crypto cybercrime risks</keyword>, while half of the users are hit by <keyword id="16358044" type="General" weightage="20" keywordseo="crypto-cybercrime" source="Orion">crypto cybercrime</keyword>, a new report has shown. According to the <keyword id="9427403" type="General" weightage="20" keywordseo="cybersecurity-firm-Kaspersky" source="Orion">cybersecurity firm Kaspersky</keyword>, just 25 per cent of those surveyed felt well-informed about potential cryptocurrency cyberthreats, while 23 per cent had no information at all. The report also discovered that nearly half (49 per cent) of the respondents had been affected by cryptocurrency crime in some way, with 40 per cent of crypto owners did not believe current protection systems for cryptocurrency were effective. "This survey emphasises the need for increased awareness and education about the potential risks faced by cryptocurrency owners. As the adoption of digital assets continues to grow, it is essential for individuals to take appropriate measures to protect themselves from cyber threats," said Vitaly Kamluk, Head of the APAC unit, Kaspersky's Global Research and Analysis Team. Moreover, cyber threats such as virtual theft and scams, were among the most frequently mentioned negative aspects of cryptocurrency use, with 27 per cent and 26 per cent of respondents citing them as their top concerns, respectively. The report also mentioned that nearly 38 per cent of respondents were unaware they could become a target of crypto threats -- even if they do not own cryptocurrency. When it comes to market management, the report added that 54 per cent would like to see regulation by an independent authority, while 44 per cent agree cryptocurrency regulation should be carried out by banks. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/spotify-founder-forays-into-healthcare-industry-launches-new-startup/articleshow/97622896.cms">Spotify founder forays into healthcare industry, launches new startup</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/artist-recycles-e-waste-from-banks-into-10-ft-tall-statue/articleshow/97618244.cms">Artist recycles e-waste from banks into 10-ft-tall statue</a>

One in four users unaware of crypto cybercrime risks: Cybersecurity firm Kaspersky

<ul class="summary-list"><li><keyword id="11895315" type="UNKNOWN" weightage="60" keywordseo="coinbase" source="Orion">Coinbase</keyword> recently announced that 6,000 users had been affected by a hack earlier this year.</li><li>Coinbase is still relatively secure, and users that use strong credentials should have little to worry about.</li><li>Coinbase isn't insured by the SIPC, but it does carry crime insurance that protects some digital assets from theft and cybersecurity breaches.</li></ul>Few crypto-trading platforms are as popular as Coinbase. But like all other trading and investing platforms, it has its risks. Case in point: At least 6,000 Coinbase users <a href="https://markets.businessinsider.com/news/currencies/coinbase-data-breach-crypto-customers-funds-stolen-accounts-phishing-attack-2021-10" target="_blank" rel="noopener">were hacked</a> and had funds stolen from their accounts earlier this year, the platform <a href="https://oag.ca.gov/system/files/09-24-2021%20Customer%20Notification.pdf" target="_blank" rel="noopener">disclosed to customers</a> in early October. Instances like this serve to shake users' confidence in platforms like Coinbase, which leads to an obvious question for many: Is Coinbase safe? For most users, the answer is "yes." But as always, there are some things users should know in order to gauge the risk for themselves. <h2>Is Coinbase safe? </h2>In a general sense, Coinbase is safe to use - or, at least as safe as any other crypto-trading platform, says Roman Faithfull, a photon cyber threat intelligence analyst with <a href="https://www.digitalshadows.com/" target="_blank" rel="noopener">Digital Shadows</a>, a company specializing in digital risk protection. "It [entails] the same risk as investing," he says.Related Article Module: Coinbase review: Crypto investing for individuals and institutionsTo <a href="https://help.coinbase.com/en/coinbase/getting-started/getting-started-with-coinbase/create-a-coinbase-account" target="_blank" rel="noopener">create an account on Coinbase</a>, users need to supply some basic information, much as they would if they were opening a brokerage or bank account. For prospective users, that includes your full legal name, an email address, a password, a phone number, and a valid government-issued photo ID, which includes your date of birth, address, and the last four digits of your Social Security number, too.Again, fairly standard stuff for opening an account of almost any type.As for the rules and regulations that Coinbase abides by, it depends on the jurisdiction, <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.coinbase.com%2Flegal%2Ffaq" target="_blank" rel="noopener">according to the company</a>. But in the US, Coinbase complies with the Bank Secrecy Act, the USA Patriot Act, and local state laws and regulations. "Aside from security protocols, cryptocurrency exchanges in the US and the UK must abide by anti-money laundering (AML) and know your customer (KYC) policies," says Faithfull. This requires financial service providers to try and verify the identity of users. Coinbase is not insured by the <a href="https://www.sipc.org/for-investors/what-sipc-protects" target="_blank" rel="noopener">Securities Investor Protection Corporation</a> (SIPC), like other cryptocurrency brokerages. <a href="https://help.coinbase.com/en/coinbase/other-topics/legal-policies/how-is-coinbase-insured" target="_blank" rel="noopener">It does carry insurance,</a> but users who lose their holdings as a result of a third-party accessing their account as a result of a breach or losing their credentials are not covered.Quick tip: Phishing scams are incredibly common, and are growing in frequency. In fact, it was the most common type of cybercrime in 2020 <a href="https://www.ic3.gov/Media/PDF/AnnualReport/2020_IC3Report.pdf" target="_blank" rel="noopener">according to the FBI</a> - an eleven-fold increase from 2016.<h2>The risks of using Coinbase to buy, sell, and trade crypto </h2>As with any trading platform, there are risks associated with using Coinbase. Here are a handful of them:<ul><li>Cybersecurity threats: From losing your credentials in a phishing scam to a cyber security breach, there's always a chance that users could end up having their information, or holdings, exposed to an unauthorized third-party.</li><li>Questions abound regarding regulation: In the US, regulation regarding cryptocurrency is still up in the air. But at some point, new rules are likely to land, and depending on what shape and form those rules take, it could have big implications for crypto investors.</li><li>Getting in over your head: While Coinbase does provide <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.coinbase.com%2Flearn" target="_blank" rel="noopener">educational materials</a> to users, it can be easy to get in over your head with little or no experience. For new users, or crypto newbies, take the time to learn the lay of the land, or consult a professional before making an investment.</li><li>There are risks associated with cryptocurrencies: Crypto is inherently risky, <a href="https://www.businessinsider.com/what-is-speculation" target="_blank" rel="noopener">speculative</a>, and volatile. There's a chance that your purchase today <a href="https://markets.businessinsider.com/news/currencies/altcoins-safemoon-dogecoin-cryptocurrencies-speculative-risky-analysts-2021-4" target="_blank" rel="noopener">could plunge in value</a> tomorrow. That's an important thing to remember, especially for budding crypto investors.</li></ul><h2>Can you get scammed on Coinbase? </h2>Yes, you can get scammed on Coinbase - and almost any other platform, too. That's something to keep in mind: You're almost always assuming some level of risk when using an investing platform, whether it's concerning cryptocurrencies or stocks. But aside from that, experts say there aren't necessarily special risks associated with using Coinbase."There's no inherent risk" to using the platform, Faithfull says, adding that much of the risk users do assume mostly "depends on the credentials you use." This is what happened with the 6,000 users that saw their holdings and funds stolen earlier this year. Hackers used a tried-and-true method to do it, too: <a href="https://www.businessinsider.com/what-is-phishing" target="_blank" rel="noopener">phishing</a>. This allowed the hackers to <a href="https://markets.businessinsider.com/news/stocks/hackers-exploit-mfa-flaw-to-steal-from-6-000-coinbase-customers-%E2%80%94-report-10586724" target="_blank" rel="noopener">exploit Coinbase's two-factor authentication process</a> and gain access to users' accounts. A phishing scam involves tricking unsuspecting users into supplying their usernames and passwords to a hacker, often using an email or text message that appears to be from a platform on which they have an account. While often not very sophisticated, it's a common scam, and with a user's username and password, a third-party can, in many cases, defeat the two-factor authentication system and access a user's account.From there, a hacker can change the account's credentials or transfer the account's holdings. And phishing is, of course, just one possible course for scammers. Faithfull says that using an authenticator app, along with two-factor authentication, could "significantly increase users' security." But even that wouldn't be invulnerable, he adds. The best and perhaps easiest thing to do to keep your account safe, Faithfull says, is to create a new email address - one that you don't use for anything else - and a password you've never used before, anywhere. Also, he says don't broadcast that you have crypto holdings. "It's similar to bragging about having cash in your wallet," he says, and could attract unwanted attention.If you do find that you're being targeted as a part of a phishing scam (or other type of scam), you can <a href="https://help.coinbase.com/en/coinbase/privacy-and-security/avoiding-phishing-and-scams/reporting-phishing-sites" target="_blank" rel="noopener">report it to Coinbase directly</a>.Quick tip: When <a href="https://www.businessinsider.com/how-to-create-a-strong-password" target="_blank" rel="noopener">creating a new password</a> for an account, the more complex, the better. Make it long, use a combination of letters (upper- and lower-case), symbols, and numbers. You should also consider using a password manager.<h2>The financial takeaway</h2>Coinbase is one of the biggest and most popular crypto-trading platforms out there, and in terms of safety, using it puts users at no more risk than using most, if not any other platforms. Users can take security into their own hands, too, by creating hard-to-crack passwords and using novel email addresses.And while there's always risks associated with investing (especially when investing in cryptocurrency), Coinbase users and prospective users would do well to research what they're getting into before opening an account.<a data-type="600ad776dc0b8e1a3837e3ad">A brokerage account is the first step to becoming an investor, allowing you to buy stocks, bonds, and other securities</a><a data-type="613fc21a37043a76c60803d3">Ready to invest in Bitcoin? Here are 4 steps to get started</a><a data-type="611446ec37043a480114bb24">What to know about non-fungible tokens (NFTs) - unique digital assets built on blockchain technology</a><a data-type="60ad76c4e5224e47165fbabb">Is Robinhood safe? Experts weigh in on using the commission-free investing app</a>

Is Coinbase safe? How to use the popular crypto-trading platform safely and securely

<ul class="summary-list"><li>The FBI arrested a 'Russian cyber hacker,' the alleged administrator of an illegal online marketplace selling usernames and passwords from around the web, called Deer.io. </li><li>Experts advised the public not to visit the site, even out of curiosity, because of possible cybersecurity risks.</li><li>The marketplace represents an "Amazon.com of cybercrime," an expert says, because of the ease of buying and selling stolen data. </li><li>The site features stolen login credentials for sites like Gmail and YouTube for sale, the complaint says.</li><li>The arrest broke through a barrier law enforcement often faces when pursuing Russian hackers, who are often sheltered by their government.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>When the FBI arrested the alleged leader of an illegal online marketplace last week, they may have made a small dent in what one expert calls "the Amazon.com of cybercrime." "Kirill Victorovich Firsov is a Russian cyber hacker, and the administrator of the Deer.io cyberplatform," wrote Special Agent Brian Nielsen in a criminal complaint filed Friday in US District Court in San Diego. The complaint was unsealed Monday after Firsov's arrest Sunday night at JFK Airport in New York City. Deer.io allows users to create digital storefronts and sell items, as on other marketplace websites, like eBay. Experts advised rhe public not to visit the site put of curiosity because of possible cybersecurity risks. However, the actual listings on Deer.io feature stolen log-in credentials for accounts on sites like Instagram, Facebook, Gmail, and YouTube, and the website also offers support and advertising opportunities, the complaint indicates. The FBI notes that the site claims to have over 24,000 active shops with sales exceeding $17 million. "This is the Amazon.com of cybercrime, with easy-to-use, easy-to-access availability and participation - as a buyer or vendor," says independent threat researcher Stephen Cobb, who previously tracked illegal marketplace activity for Eset, a cybersecurity company.The complaint says the usernames and passwords bought and sold on the website were stolen with malware and can be used to access victims' payment information to gaming websites and other portals. No legal businesses are advertised on the site, which is hosted on Russian servers, the complaint says. The FBI declined to comment beyond what is in the complaint. Managers of Deer.io indicated they would comment on the case later on Monday.<h2>An orderly and established storefront</h2>The complaint describes an orderly and established storefront where hackers can set up shop and peddle stolen log-in credentials and other stolen data that other hackers can use to commit further crimes. "The Deer.io platform provides shop owners with an easy-to-use interface that allows for the automated purchase and delivery of criminal goods and services," the court document says. "Once shop access is purchased via the Deer.io platform, the site then guides the newly-minted shop owner through an automated set-up to upload the products and services on offer through the shop and configure crypto-currency wallets to collect payments for the purchased products and/or services."This polished presentation is what makes Deer.io and many other comparable sites dangerous, Cobb says.<h2>Easy-to-use, easy-to-access availability</h2>While law enforcement is admirably pursuing such sites with limited resources, lawmakers often have no idea this underground industry exists, Cobb said. "When I go to Washington and talk to people in policy circles, they have no idea. They still think cybercriminals are people in their parents' basements." As the cybersecurity company SpyCloud says in the 2020 version of its annual <a href="https://spycloud.com/2020-annual-credential-exposure-report/">SpyCloud Credential Exposure Report</a>, "personally identifiable information is gold." The report found some 9 billion stolen log-in credentials online, and 96 million stolen Social Security numbers online. SpyCloud says its researchers "observed a noticeable uptick in the amount of data available on the criminal underground over the last year." <h2>Russian operation insulated from U.S. law enforcement</h2>Buyers of stolen accounts can search or browse, much like on legal online marketplaces, the FBI said in its complaint."Deer.io contains a search function, so individuals can search for hacked accounts from specific companies or...the user can navigate through the platform, scanning stores advertising a wide array of hacked accounts or cybercriminal services for sale. Purchases are conducted using cryptocurrency, such as Bitcoin, or through Russian-based money transfer systems," the complaint said. The complaint notes that "The Deer.io online stores are maintained on Russian-controlled infrastructure, which is insulated from US law enforcement." The FBI does not say in court filings how it surveilled Firsov, nor where he was traveling from or to. Russia is little help with cases like this, says Cobb, the independent researcher. "Russia tolerates cybercrime as long as victims are outside of Russia," he said.<h2>FBI bought 5,000 accounts for $700</h2>The FBI says in the complaint that last week it purchased nearly 5,000 accounts on the exchange for around $700. The accounts provided purchasers with personal information including names, dates of birth and Social Security numbers for multiple individuals who reside in San Diego County. The arrest is some progress in a very challenging area of enforcement, says Brett Callow, a threat researcher with the cybersecurity firm Emsisoft. "While taking action against the operators of such platforms is obviously a good thing, it's unfortunately also a game of whack-a-mole. Deer.io users will probably switch to other similar platforms." The case, USA v. Firsov in US District Court Southern District of California in San Diego, is assigned to Magistrate Judge Linda Lopez. Records do not indicate where Firsov is being held, nor when further proceedings are scheduled.

The FBI arrested the alleged hacker behind the 'Amazon.com of cybercrime,' which it says sold $17 million worth of stolen accounts for Gmail and other sites

Online scams in India have been on the rise for the last few months and every now and then, a new case surfaces where a victim loses their hard-earned money. Usually, scammers in many cases pose as company officials to steal your sensitive information and misuse it. In one such recent incident, a 44-year-old woman from <keyword id="19895934" type="General" weightage="20" keywordseo="noida" source="keywords">Noida</keyword> recently fell victim to an <keyword id="20971199" type="General" weightage="100" keywordseo="esim-scam" source="Orion">eSIM scam</keyword>, losing ₹27 lakh and becoming the target of fraudulent loan activity. The scam involved the manipulation of her <keyword id="19909735" type="General" weightage="20" keywordseo="sim" source="keywords">SIM</keyword> card and banking details, which allowed the fraudster to siphon off her funds and take out a loan in her name. <h2>What exactly happened</h2> According to an HT report, <keyword id="23110017" type="General" weightage="20" keywordseo="jyotsana-bhatia" source="keywords">Jyotsana Bhatia</keyword>, a resident of Sector 82 in Noida, works at a private company and filed a complaint with the cybercrime police station in Sector 36. On August 31, Bhatia received a WhatsApp call from a person posing as a customer care executive from her telecom provider. The caller explained that her SIM card could be converted to an embedded SIM (eSIM), which is a digital version of a physical SIM card and can be helpful in case of phone loss. The suspect offered to help Bhatia activate the eSIM feature, instructing her to select the option in her mobile carrier’s application and enter a verification code that was sent to her phone. Bhatia, unaware of the fraud, followed the steps as instructed. Unfortunately, as soon as she entered the code, her physical SIM card was deactivated. The suspect assured her that a new SIM card would be delivered by September 1, leaving her temporarily without access to her mobile number. When the promised SIM card failed to arrive, Bhatia contacted the telecom provider’s customer care service and was advised to visit the service centre to get a replacement. After three days, on September 3, she was issued a new SIM card. However, by then, the damage had already been done. Bhatia started receiving messages from her bank, revealing that the fraudster had accessed her mobile banking account using her deactivated phone number. By changing the associated email ID, the suspect was able to bypass security checks and transfer large sums of money from her accounts. The fraudster also broke her fixed deposit, siphoned money from two bank accounts, and even took out a loan of ₹7.40 lakh in her name. Bhatia reported that the total amount stolen in multiple transactions amounted to ₹27 lakh. Shocked by the breach, she immediately filed an FIR with the cybercrime unit. The police registered the case under sections 318(4) (cheating) and 319(2) (cheating by personation) of the Bharatiya Nyaya Sanhita, as well as under relevant sections of the IT Act. Efforts to track down the suspect are currently underway. <h2>Understanding eSIM and its risks </h2> An eSIM (embedded SIM) is a digital version of a SIM card that is built into a device and does not require a physical card. While this technology is convenient and allows users to switch networks or plans without handling a physical card, it also opens the door to new forms of fraud. Scammers can manipulate eSIM features to deactivate a user’s existing SIM card and take control of their phone number, which is linked to various accounts and services. In this case, the fraudster exploited the victim’s trust by posing as a telecom customer care executive, taking advantage of her lack of knowledge about the risks associated with eSIM activation. Once the fraudster gained control of her phone number, they accessed her bank accounts through mobile banking applications that rely on the phone number for authentication. By changing the email ID linked to her account, they prevented the victim from receiving security alerts and were able to make unauthorised transactions without her knowledge.

Noida woman tries getting her sim card converted into e-sim, ends up losing Rs 27 lakh

Meta-owned messaging platform <keyword id="790242" type="General" weightage="20" keywordseo="whatsapp" source="Orion">WhatsApp</keyword>, in its latest update to iOS, has rolled out the ability to create personalised avatars and use them as stickers and profile pictures. Some users may already be able to configure an avatar on the previous update, but it is rolling out to even more people, according to WABetaInfo. Users will need to open WhatsApp Settings in order to discover if the feature is already enabled for their account. Moreover, in the latest update, the messaging platform introduced the ability to record videos hands-free by swiping left inside the WhatsApp camera. Users also get the ability to undo "delete for me" for a few seconds in the latest update. Further, the report mentioned that some accounts may receive the new feature over the coming weeks. Meanwhile, WhatsApp is reportedly working on a new feature which will allow users to pin messages within chats and groups. The feature is useful as it will allow users to pin important messages to the top of the chat, reports WABetaInfo. If a message is pinned and the recipient is using an old version of the application, then the app will show a message in the conversation to ask to upgrade to the latest version available on the store. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/how-to-use-drag-and-drop-photos-and-search-by-date-on-whatsapp/articleshow/97168020.cms">WhatsApp rolls out drag and drop and search by date feature to its iOS app — Here's how to use it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/one-in-four-users-unaware-of-crypto-cybercrime-risks-cybersecurity-firm-kaspersky/articleshow/97622963.cms">One in four users unaware of crypto cybercrime risks: Cybersecurity firm Kaspersky</a>

WhatsApp rolls out ability to create avatars on iOS

Cybersecurity researchers on Monday said they have discovered a spear <keyword id="1545907" type="General" weightage="20" keywordseo="phishing-campaign" source="Orion">phishing campaign</keyword> targeting multiple IT firms where scammers were sending WhatsApp messages to top tier employees' personal numbers pretending to be their CEO. CloudSEK analysts found a spear phishing campaign targeting multiple corporations wherein a specific form of a message purportedly coming from superiors or CEOs may actually be a fraud. In these messages, the threat actor pretends to be the company's CEO and sends a WhatsApp message to employees (mostly top-level executives) on their personal phone numbers. Scammers misuse CEOs' publicly available pictures by using WhatsApp profile pictures as a social engineering tactic to convince the victim. "The research unveiled lead generation and business information tools being misused by these scammers to extract personal phone numbers," said a CloudSEK researcher. The scam begins with employees receiving an SMS-based message from an unknown number allegedly impersonating a top-ranking executive from the organisation. The reason for impersonating the top-ranking executive is to instill urgency and panic. If the receiver of the SMS acknowledges the scammer with a response, the threat actor/scammer would request to complete a quick task. The quick tasks commonly include purchasing gift cards for a client or employee and/or wiring funds to another business. "In some cases, the scammer may ask employees to send personal information (like PINs and passwords) to third parties, often providing a plausible reason to carry out the request," said the report. Threat actors often use commanding and persuasive language to convince the email victim to respond. Senior employees of the organisation can be looked up from LinkedIn. Threat actors then use popular sales intelligence or lead generation tools such as Signalhire, Zoominfo, Rocket Reach to gather personal identifiable information (PII) like emails, phone numbers, and more. "These online databases of businesses have their methodologies for obtaining, verifying, and then selling the employees' contact details of an entity," said the report. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/whatsapp-rolls-out-ability-to-create-avatars-on-ios/articleshow/97625500.cms">WhatsApp rolls out ability to create avatars on iOS</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/one-in-four-users-unaware-of-crypto-cybercrime-risks-cybersecurity-firm-kaspersky/articleshow/97622963.cms">One in four users unaware of crypto cybercrime risks: Cybersecurity firm Kaspersky</a>

Scammers sending WA messages to top tier employees' pretending to be their CEO: CloudSEK report

<ul class="summary-list"><li><keyword id="11896045" type="UNKNOWN" weightage="60" keywordseo="binance" source="Orion">Binance</keyword> on Friday suspended trading in <keyword id="13891032" type="UNKNOWN" weightage="60" keywordseo="terrausd" source="Orion">TerraUSD</keyword> and luna in the wake of price implosions for the <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword>. </li><li>CEO Changpeng Zhao said an "exponential amount" of new luna coins were minted because of flaws in the design of the Terra protocol.</li></ul>Binance on Friday halted trading of the algorithmic stablecoin <a href="https://www.coingecko.com/en/coins/terra-usd">TerraUSD</a> and its related <a href="https://www.coingecko.com/en/coins/terra-luna">luna</a> coin following price collapses that prompted administrators behind the <keyword id="12068706" type="UNKNOWN" weightage="60" keywordseo="digital-assets" source="Orion">digital assets</keyword> to turn off their network. The world's largest cryptocurrency exchange <a href="https://www.binance.com/en/support/announcement/f68451879a1841a6a0f44025735d9236">said in a notification</a> that spot trading for the LUNA/BUSD and UST/BUSD trading pairs would be suspended Friday morning and that withdrawals for the coins will open when the Terra network becomes stable.The moves come after a plunge in the value of the coins that began last weekend. TerraUSD lost its peg to the US dollar and sister coin luna eventually crashed to zero just five weeks after hitting a market cap of $41 billion, according to CoinGecko data. TerraUSD, or UST, was trading at around $0.09 on Friday.The slide put a spotlight on <a href="https://markets.businessinsider.com/news/currencies/stablecoin-cryptocurrency-crash-terra-luna-usdt-tether-usdc-altcoins-investing-2022-5">algorithmic stablecoins</a> whose values are set by a combination of computer codes and reserves to maintain a peg. Administrators at Terraform Labs, the company behind the TerraUSD-luna crypto project, <a href="https://markets.businessinsider.com/news/currencies/terrausd-terra-luna-price-crash-network-turned-off-crypto-market-2022-5">paused the network </a><a href="https://markets.businessinsider.com/news/currencies/terrausd-terra-luna-price-crash-network-turned-off-crypto-market-2022-5">overnight</a><a href="https://markets.businessinsider.com/news/currencies/terrausd-terra-luna-price-crash-network-turned-off-crypto-market-2022-5"></a> and later resumed it, but luna still tumbled to a worthless value. The network was turned off in agreement with validators who oversee transactions. Terra was working on a network restoration plan, <a href="https://twitter.com/terra_money/status/1524935730308456448?s=20&amp;t=LxLRpBA40lFUQvNR_7UDBQ">it said Thursday on Twitter</a>. In suspending trading, Binance CEO and founder Changpeng Zhao cited an "exponential amount" of new luna coins that were recently minted because of flaws in the design of the Terra protocol. Meanwhile, the network's suspension resulted in no deposits or withdrawals possible to or from any exchange, he added in a <a href="https://twitter.com/cz_binance/status/1525060769771048960">thread of posts on Twitter</a>. "Some of our users, unaware of the large amounts of newly minted LUNA outside the exchange, started to buy LUNA again, without understanding that as soon as deposits are allowed, the price will likely crash further. Due to these significant risks, we suspended trading," Zhao wrote. Zhao said Binance's aim is to be neutral and that it typically refrains from commenting on other projects but that he was breaking that rule in the Terra situation. "I am very disappointed with how this UST/LUNA incident was handled (or not handled) by the Terra team. We requested their team to restore the network, burn the extra minted LUNA, and recover the UST peg. So far, we have not gotten any positive response, or much response at all," Zhao wrote to his 5.9 million followers on Twitter. He said that was in "sharp contrast" with the team behind online play-to-earn game Axie Infinity. Binance's work alongside Axie Infinity helped the exchange <a href="https://markets.businessinsider.com/news/currencies/binance-hack-axie-infinity-game-north-korea-blockchain-crypto-fbi-2022-4">recover nearly $6 million</a> from a North Korean group suspected to be behind a $620 million hack of the popular game.

Binance suspends trading of Terra and Luna as CEO says he is 'very disappointed' with how the stablecoin creators handled the massive collapse

All I wanted was a swimming pool. What I got was a $31,000 lesson in Zelle fraud.

Welcome to <keyword id="11420569" type="UNKNOWN" weightage="60" keywordseo="insider-finance">Insider Finance</keyword>. If this was forwarded to you, <a href="http://newsletter.businessinsider.com/join/4np/insider-finance">sign up here</a>. Plus, download Insider's app for news on the go - <a href="https://apps.apple.com/app/apple-store/id554260576?pt=385758&amp;ct=06292021_newsletters&amp;mt=8amp;mt=8">click here for iOS</a> and <a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider&amp;r[%E2%80%A6]ers%26utm_medium%3Demail%26utm_term%3D06292021%26anid%3Dadmobdmob">here for Android</a>.On the agenda today:<ul><li>JPMorgan Chase will require all employees to wear masks - <a href="https://www.businessinsider.com/jpmorgan-chase-us-mask-mandate-indoors-2021-8">even if they're vaccinated. </a></li><li>The SEC has approved Nasdaq's <a href="https://www.businessinsider.com/top-female-tech-leaders-ideal-for-corporate-boards-2020-12">corporate board diversity plan.</a></li><li>Evercore's offer letters for 2022 analysts <a href="https://www.businessinsider.com/evercore-offer-letter-first-year-anaysts-2022-salary-wall-street-2021-8">just went out.</a> </li></ul>Let's get started. <a href="https://www.businessinsider.com/jpmorgan-chase-us-mask-mandate-indoors-2021-8">JPMorgan Chase will make all US employees wear masks indoors</a><a href="https://www.businessinsider.com/jpmorgan-chase-us-mask-mandate-indoors-2021-8"></a>Masks will be required for all JPMorgan employees - even if they're vaccinated. The bank is following CDC guidance that says all people, vaccinated and unvaccinated, should mask up in places where COVID-19 is spreading. <a href="https://www.businessinsider.com/jpmorgan-chase-us-mask-mandate-indoors-2021-8">What we know about the mask mandate.</a><a href="https://www.businessinsider.com/top-female-tech-leaders-ideal-for-corporate-boards-2020-12">The SEC approved Nasdaq's plan for more corporate board diversity</a><a href="https://www.businessinsider.com/top-female-tech-leaders-ideal-for-corporate-boards-2020-12"><div type="image" title="Adena Friedman (1)" height="4102" width="5464" msid="85177031" hostid="261"></div></a>Nasdaq's new rules require the 3,249 companies listed on its main US exchange to have at least two diverse directors, one woman and one member of an underrepresented minority group - or risk being delisted. <a href="https://www.businessinsider.com/top-female-tech-leaders-ideal-for-corporate-boards-2020-12">Here are 21 female tech leaders ideal for those seats.</a><a href="https://www.businessinsider.com/evercore-offer-letter-first-year-anaysts-2022-salary-wall-street-2021-8">Evercore offer letters for 2022 analysts just went out</a><a href="https://www.businessinsider.com/evercore-offer-letter-first-year-anaysts-2022-salary-wall-street-2021-8"><div type="image" title="Ralph Schlosstein, Evercore Partners" height="905" width="1206" msid="85177034" hostid="261"></div></a>Evercore will pay first-year investment bankers $110,000 - and those who accept will receive a separate $15,000 start bonus within 60 days. <a href="https://www.businessinsider.com/evercore-offer-letter-first-year-anaysts-2022-salary-wall-street-2021-8">Get the full rundown here. </a><a href="https://www.businessinsider.com/plaid-class-action-privacy-lawsuit-settlement-58-million-data-aggregator-2021-7">Plaid agreed to settle a class-action lawsuit for $58 million</a><a href="https://www.businessinsider.com/plaid-class-action-privacy-lawsuit-settlement-58-million-data-aggregator-2021-7"><div type="image" title="Zach Perret Plaid" height="2651" width="3534" msid="85177040" hostid="261"></div></a>The suit, which alleges users were unaware of Plaid's role in accessing banking data for apps like Venmo, comes as financial data becomes a more of a priority for both consumers and regulators. <a href="https://www.businessinsider.com/plaid-class-action-privacy-lawsuit-settlement-58-million-data-aggregator-2021-7">Here are the other details of the settlement.</a><a href="https://www.businessinsider.com/factset-automates-pitchbook-investment-banking-processes-junior-bankers-wall-street-2021-8">FactSet is helping investment banks automate their pitching process</a><a href="https://www.businessinsider.com/factset-automates-pitchbook-investment-banking-processes-junior-bankers-wall-street-2021-8"><div type="image" title="Kristy Karnovsky, FactSet's newly appointed chief product officer, poses in her head shot" height="1535" width="2046" msid="85177047" hostid="261"></div></a>Junior bankers, rejoice: FactSet is working on a way to automate the pitching process, one of the most time-consuming parts of the job. Newly appointed Chief Product Officer Kristina Karnovsky <a href="https://www.businessinsider.com/factset-automates-pitchbook-investment-banking-processes-junior-bankers-wall-street-2021-8">told Insider about the company's plans.</a><a href="https://www.businessinsider.com/ubs-wealth-management-financial-advisor-multicultural-client-segment-launch-2022-2021-8">UBS is launching a team focused on winning over diverse clients</a><a href="https://www.businessinsider.com/ubs-wealth-management-financial-advisor-multicultural-client-segment-launch-2022-2021-8"><div type="image" title="Melinda Hightower of UBS smiles in front of a bright background, wearing pearls and a black top." height="210" width="281" msid="85177051" hostid="261"></div></a>UBS's global wealth management division is preparing to launch a group focused on better serving diverse investors, and has hired a private banker from JPMorgan to lead the charge. <a href="https://www.businessinsider.com/ubs-wealth-management-financial-advisor-multicultural-client-segment-launch-2022-2021-8">Meet her here.</a><a href="https://www.businessinsider.com/jpmorgan-spac-underwriting-ranking-outlook-mergers-league-tables-2021-8">JPMorgan's SPAC business has been dwarfed by rivals</a><a href="https://www.businessinsider.com/jpmorgan-spac-underwriting-ranking-outlook-mergers-league-tables-2021-8"><div type="image" title="Jamie Dimon smiling and looking to the right against a red background" height="3069" width="4093" msid="85177057" hostid="261"></div></a>Though ​​JPMorgan is an investment-banking powerhouse, its SPAC business is well behind peer firms - but some research analysts say that could be a good thing. <a href="https://www.businessinsider.com/jpmorgan-spac-underwriting-ranking-outlook-mergers-league-tables-2021-8">Here's why "it doesn't necessarily pay to be first."</a><a href="https://www.businessinsider.com/best-fintech-stocks-to-buy-square-bitcoin-paypal-cryptocurrency-sofi-2021-8">Crypto and "super apps" are about to transform finance</a><a href="https://www.businessinsider.com/best-fintech-stocks-to-buy-square-bitcoin-paypal-cryptocurrency-sofi-2021-8"><div type="image" title="Bitcoin and USD" height="3533" width="4710" msid="85177067" hostid="261"></div></a>We spoke with analysts who explained why crypto and "super apps" will transform <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">finance</keyword> - and shared three stock picks that are "about to take over the world." <a href="https://www.businessinsider.com/best-fintech-stocks-to-buy-square-bitcoin-paypal-cryptocurrency-sofi-2021-8">See their top fintech stock picks and investing ideas.</a>On our radar: <ul><li>Execs from Morgan Stanley, Mastercard, and Robinhood dished on their summer reading recommendations. From books about social media algorithms to Winston Churchill, <a href="https://www.businessinsider.com/5-books-summer-reading-wall-street-morgan-stanley-robinhood-mckinsey-2021-8">here are their favorites.</a></li><li>Our reporter tried the nighttime rituals of CEOs like Bill Gates for a week. <a href="https://www.businessinsider.com/tried-nighttime-sleep-routines-famous-ceos-well-rested-2021-8">Here's how it went. </a></li><li>A 24-year-old VC who raised $7.6 million on his own explains how Gen Zers can launch their own venture firms. <a href="https://www.businessinsider.com/gen-z-vc-dropped-out-and-raised-a-venture-fund-2021-8">Check out his advice.</a></li><li>Per the Financial Times, hedge funds that exploit bond market dislocations hit $1 trillion in assets for the first time. <a href="https://www.ft.com/content/393cd493-64a6-44b8-a037-6deae33a5980">More on that here.</a></li><li>The Delta variant is upending <keyword id="42111" type="COMPANY" weightage="60" keywordseo="Wall-Street">Wall Street</keyword>'s return to the office, Bloomberg reports. <a href="https://www.bloomberg.com/news/articles/2021-08-05/it-s-chaos-on-wall-street-as-delta-variant-upends-return-to-work?cmpid=socialflow-twitter-business&amp;utm_medium=social&amp;utm_content=business&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;sref=DK3y4h9mer&amp;sref=DK3y4h9m">What you need to know about the return-to-office chaos.</a></li><li>More from Bloomberg: Companies like Goldman Sachs are trying to woo bankers <a href="https://www.bloomberg.com/news/articles/2021-08-06/goldman-sachs-knows-the-way-to-a-banker-s-heart-is-a-free-meal?utm_source=twitter&amp;cmpid=socialflow-twitter-business&amp;utm_content=business&amp;utm_campaign=socialflow-organic&amp;utm_medium=social&amp;sref=DK3y4h9mal&amp;sref=DK3y4h9m">with new food perks.</a></li></ul>

JPMorgan mask mandate - Nasdaq diversity plan - Evercore offer letters

North Korea is the most isolated country on the planet, but it still finds ways to steal billions of dollars

<ul class="summary-list"><li>The FireEye hack and the rioters who breached Capitol Hill were two more visible signs of a growing conflict in cyberspace being waged by state actors and private individuals.</li><li>Government and private entities, high-profile officials, and everyday people are all targets in that conflict, but there are many things that they can do to improve their security online and in real life.</li></ul>As the turbulent 2020 came to an end, US officials discovered that Russian intelligence had penetrated the US's cyber armor for months without anyone noticing.In December, FireEye, a private <keyword id="6361948" type="UNKNOWN" weightage="60" keywordseo="cybersecurity">cybersecurity</keyword> firm, <a href="https://www.nytimes.com/2020/12/08/technology/fireeye-hacked-russians.html" target="_top">revealed</a> that Russian hackers had stolen hacking tools the company used during "Red Team" evaluations, which are used in the military and intelligence communities to test security and find potential vulnerabilities by simulating attacks.FireEye's discovery triggered an avalanche of revelations about the Russian intrusion. The NSA, FBI, Department of Homeland Security, and US Cyber Command were all caught unawares.The Pentagon, several intelligence agencies, nuclear laboratories, and numerous Fortune 500 companies were compromised at varying degrees. US officials are still trying to determine the extent of the damage.To make matters worse, in early January, during the intrusion in the Capitol, <a href="https://sofrep.com/news/breaking-computers-with-access-to-classified-material-stolen-from-capitol/" target="_top">sensitive systems were stolen</a>, including a laptop belonging to House Speaker Nancy Pelosi.These are just the most recent and pronounced examples of an <a href="https://www.businessinsider.com/nsa-hacking-risk-iran-china-climate-change-2020-2" target="_top">undeclared conflict</a> in the cyber domain between the US and its near-peer adversaries, primarily Russia, which runs parallel to the <a href="https://www.businessinsider.com/pentagon-bureaucratic-change-sign-of-military-return-to-irregular-warfare-2021-1" target="_top">competition between those adversaries</a>, conducted by state and private actors, taking place around the world.<h2>An ounce of prevention is worth a pound of care</h2><div type="image" title="pelosi office" height="3712" width="5568" msid="80453060" hostid="261"></div>When it comes to tapping a government device in order to access sensitive networks and obtain classified information, there are many moving parts. The placement, accessibility, and vulnerability of a device or network play a big part."It really depends on how accessible the device or network is and [on] the methods used by the malign actors," Jonathan, a former officer with joint special-operations and intelligence experience, told Insider."For example, take the recent intrusion in the Capitol building, where we have news that the FBI feared a rioter who stole House Speaker Nancy Pelosi's laptop from her office may have intended to sell it to Russian security services," Jonathan added."This makes a great case for both physical and digital security, an even more critical undertaking given the proliferation of mobile devices these days. You can't have one without the other."<h2>Everyone's concern</h2><div type="image" title="Wannacry cyberattack North Korea" height="1567" width="2500" msid="80453062" hostid="261"></div>Digital security challenges often spill over from the military and intelligence domains into personal lives. Cyberstalking, cyberbullying, cybercrime, digital coercion, and doxxing - the unsolicited sharing of personal information - are a reality for many in an era of unprecedented connectivity.<a href="https://www.signaturemanagementunit.com/" target="_top">Signature Management Unit (SMU)</a>, a risk, security, and intelligence consulting firm led by former special-operations and intelligence professionals, recently released a <a href="https://www.signaturemanagementunit.com/download/2021-guide-for-digital-security/" target="_top">digital security guide</a> that companies and private citizens alike can use to boost their cyber defenses.Featuring six threat scenarios, ranging from cyberstalking to foreign intelligence, and 31 simple techniques, the guide arms those seeking to take their digital security to another level with the knowhow to do so. The authors' special-operations and intelligence background adds a refreshing level of authenticity."We recognize that obtaining a timely, holistic, and coherent understanding of how to approach individual digital security and privacy is difficult and potentially inaccessible to the layman," the authors write. "However, these matters do not just concern government spies, murky organizations, or those conducting corporate espionage."Some of the guide's key takeaways for public and private audiences are the importance of preemptive action, physical security, situational awareness, and a layered defense plan.<div type="image" title="Pelosi office" height="3712" width="5568" msid="80453063" hostid="261"></div>Even if a person is concerned that their data or devices have been compromised, there are still steps that can minimize the damage."For starters, don't let your devices fall into the wrong hands - this could be leaving it unattended in a coffee shop or not letting it out of your sight when crossing a border, and everywhere in between," Jonathan added."[Also] ensure your devices are fully encrypted, and limit unauthorized users from being able to access them physically through the lightning USB port (phones) or by messing with your firmware/boot options," Jonathan said. "Use tools like the 'Find my iPhone' feature enabled which provides you with a remote wipe option should it be required."When it comes to personal devices, measures like two-factor authentication, fairly complex passwords, and network security are important.The commercial aspect of digital security is perhaps as important and concerns a larger audience since companies and private citizens are also on the "target deck.""While malign nation states like Russia are a serious threat, we also have the insidious and less visible threat from corporate big-data companies (and many others like Lexis Nexis, Oracle) such as Google and Facebook, who traffic the sale of individual data for profit that results from targeted advertising," Jonathan told Insider. "We should all be advocates of the right to privacy and severely limiting others' ability to profit from the sale of your personal data."Although the extent of the Russian cyberattacks is yet to be determined, malign actors working on behalf of Moscow have shown that digital security threats are real and not only concern the military and intelligence communities but private citizens as well.Stavros Atlamazoglou is a defense journalist specializing in special operations, a Hellenic Army veteran (National Service with the 575th Marine Battalion and Army HQ), and a Johns Hopkins University graduate.

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