Weighed down by cyber heists, insurers are gingerly tip toeing around the bitcoin business. Despite daunting challenges and the volcanic volatility of cryptocurrencies, global insurers, including Mitsui Sumitomo Insurance, XL Catlin and Chubb, are increasingly being drawn against swinging prices of cryptocurrencies and are starting to offer protection against thefts. Although, so far, their efforts…
According to a member of the Singapore-based NEM foundation, the purpose of the cyber heist was to test the audit trail mechanism. On Thursday, authorities from several countries have begun investigating the $530 million cyber heist involving the NEM cryptocurrency, said Takao Asayama, a member of the foundation behind the NEM cryptocurrency. Takao Asayama stated…
Security analysts have warned that hackers are likely to very quickly add exploit code for these vulnerabilities to their hacking tool set. While the updates for the Meltdown vulnerability has been made available for download from Google, Microsoft, and Apple, the patch for the more dangerous and difficult to plug named Spectre, still remains elusive.…
China’s reputation in the cyber sphere precedes it. China Telecom is expected to start operations in the Philippines from the 1st quarter of 2018. On Thursday, ahead of the entry of Chinese firms in Philippines telecom market, the country is making heightened efforts to beef up cybersecurity measures midst national security concerns. Many senators have…
Far Eastern International Bank had deficiencies in the way it implemented SWIFT, a banking software, which North Korean hackers exploited to steal $60 million. On Tuesday, Taiwan’s financial regulator fined Far Eastern International Bank $266,524 (T$8 million) for deficiencies related to its SWIFT system hacking incident. The fine comes in the wake of Taiwanese local…
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