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Wednesday, May 21, 2025

Analysis | Why hackers are able to steal billions of dollars worth of cryptocurrency - The Washington Post

Welcome to The Cybersecurity 202! If you’re a regular reader you might have noticed we’ve been on a bit of an abbreviated schedule of late, but the noob whose name is atop this newsletter now (ahem, this Starks guy) has been lax about informing you of this. I’m making it up to you now: we'll be back at you Tuesday.
Below: European lawmakers find out how many E.U. countries use NSO spyware, and the FTC is investigating a crypto hack.
In two incidents over the past week, hackers pilfered a total of nearly $200 million in cryptocurrency, piling on to a record year of $2 billion in industry losses to internet thieves and scammers.
The Treasury Department also sanctioned an anonymization service this week for its alleged role in laundering billions in cryptocurrency. The agency cited hackers’ use of Tornado Cash to disguise proceeds from the largest known crypto hack to date, March’s heist of $620 million.
So why are these big-ticket crypto hacks happening? There’s no one answer, and...



Read Full Story: https://www.washingtonpost.com/politics/2022/08/11/why-hackers-are-able-steal...

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