Articles Posted in data breach

cryptocurrency Despite its cons, cryptocurrency has introduced powerful technologies to the market, including blockchain protocols which essentially act as an advanced ledger for cryptocurrency exchanges. However, this technology is now being utilized for the protection of numerous industries, including the healthcare industry by preventing counterfeit pharmaceuticals from entering the market.

A paper published by Portland University researchers outlined how blockchain technology could be used as an anti-counterfeiting system for numerous industries. But, understanding how this technology can be applied to various markets means taking a closer look at its use in cryptocurrency.

Essentially, cryptocurrency platforms utilize blockchain technology to store and track the incoming and outgoing transactions that they facilitate. These transactions are stored across numerous computers that are linked by a peer-to-peer network. The history of transactions stored on the blockchain is extensive, and allow those in control to view a detailed account of exactly what is going on with each transaction.

Russian-spies-300x225American Universities have always been proud to welcome global students into their community, but with reports of foreign agents from Russia entering these school as professors and students, it is difficult to determine the reliability of this practice. These alleged spies are under suspicion for using the academic system to get close to current and future influential figures in the United States and gain certain benefits in the process, such as information to report back to those who recruited them.

While there are a number of ways to gain access to the plethora of information available in the United States, many have discovered that the least risky access to it is through the lax academic system. Professors and students are often viewed to have the most potential to rise up in the world as future politicians and researchers, and so the Russians seem to view academia as a safe way to make connections and be where they need to in order to please those they are working for by delivering relevant information.

One example of this situation comes from Columbia Business School, where a student by the name of Cynthia Murphy was discovered to be a Russian woman by the name of Lydia Guryeva. Guryeva seamlessly integrated herself into a key fundraiser for the 2008 presidential campaign in support of Hillary Clinton.

blockchain hacking In January of 2019, it was discovered that an online attacker had hacked Coinbase and processed over $1.1 million in what the cryptocurrency industry refers to as “double spends”. However, this is not the only incidence of blockchains being hacked since its increasing popularity on the market. In fact, since 2017 it is estimated that over $2 billion worth of cryptocurrency has been stolen by hackers. But, how have blockchains, which were once deemed as unhackable, become the latest source of fraudulent activity?

Two Documented Years of Hacking Activity

Since 2017, authorities have uncovered billions of dollars worth of stolen cryptocurrency due to online attackers. However, it is estimated that even more funds have been taken during this time. Two groups alone are suspected of profiting over $1 billion combined, but the extent of their reach, as well as others, is largely unknown. As the market for blockchain encryptions becomes larger and larger, it appears as though its vulnerability to hackers is also increasing. This could mean that the fraudulent activity associated with blockchain hacking is just beginning.