Bank Security Is So Bad That a Simple Phishing Scam Can Cost $1 Billion

In potentially the largest bank heist on record, an Eastern European hacker ring is stealing an estimated $1 billion from banks by infecting computers with malware and siphoning money. But how the hackers infiltrated these banks speaks to a much bigger problem: The current security standards (or lack thereof) at… » 2/16/15 5:35pm 2/16/15 5:35pm

How the Silk Road Trial Could Lead to a Dangerous Legal Precedent

The Silk Road trial is over. A jury found Ross Ulbricht guilty on all seven charges, including money laundering, drug trafficking, and the "kingpin" charge. That's not just bad news for Ulbricht, who faces life in prison. His trial could help establish a dangerous precedent, which could allow law enforcement to… » 2/06/15 2:55pm 2/06/15 2:55pm

Oh, Good: Revenge Porn Kingpin Is Going to Jail 

Kevin Bollaert, a 28-year-old San Diego revenge porn website operator, gained notoriety by hosting a website to post embarrassing or sexually explicit images of men's former romantic partners on a now-defunct website called UGotPosted. Bollaert set up a second website, ChangeMyReputation, and charged people (by and… » 2/03/15 2:25pm 2/03/15 2:25pm

The FBI Just Issued Wanted Posters for 5 Chinese Army Officers

In case you need more reasons to worry about escalating tensions between the US and China, the FBI is now circulating Wanted posters for five officers of the People's Liberation Army. This isn't just a fun let's-see-what-happens exercise. These guys have been charged with some serious cyber crimes. » 5/19/14 11:30am 5/19/14 11:30am

$1 Million Heist Reminds Us That Bitcoin Is Neither Safe nor Secure

Let's play a little game called Good Idea/Bad Idea. Round One: Saving money. That's a good idea! Round two: Saving thousands of dollars in a Bitcoin wallet that's highly susceptible to hackers and heists. As the customers of Bitcoin payment processor BIPS will tell you, that's a bad idea. » 11/25/13 1:40pm 11/25/13 1:40pm

Microsoft and Symantec Just Busted a Major Cyber Crime Ring

It sounds like the plot of a movie: two major software corporations join together to shut down an evil global cyber crime operation and engage in wacky hijinks along the way. While the latter can be neither confirmed nor denied, according to an exclusive report by Reuters, Microsoft and Symantec did shut down servers… » 2/06/13 4:14pm 2/06/13 4:14pm