US authorities have revealed a massive cyberattack on American telecommunications networks, describing it as the ‘worst telecom hack in our nation’s history.’ Linked to Chinese hackers, the breach targeted multiple telecom companies and allowed the interception of surveillance data meant for US law enforcement. According to a joint FBI and CISA statement, the hackers accessed sensitive call records and communications, particularly involving individuals in government and political roles.
The attack also raised alarms after reports suggested telephones belonging to Donald Trump, JD Vance, and other high-profile political figures were compromised. Senator Mark Warner, chairman of the Senate Intelligence Committee, warned that China’s long-term efforts to infiltrate global telecom systems pose a grave security risk. Hackers reportedly managed to listen to phone calls and read text messages, going beyond what the Biden administration has publicly acknowledged.
China has consistently denied allegations of hacking foreign systems, and its embassy in Washington declined to comment on the latest claims. Warner criticised the lack of sufficient safeguards, stating, “The barn door is still wide open,” as concerns over US telecom infrastructure security intensify.
US federal authorities have broken up a significant cryptocurrency-based money laundering operation tied to international drug cartels. Nine individuals have been indicted in Florida for conspiring to launder money and running an unlicensed money-transmitting business, following a multi-agency investigation.
The network, active between 2020 and 2023, reportedly moved illicit funds from the US to drug cartels in Mexico and Colombia. Participants allegedly used cryptocurrencies, including mixers and black-market exchanges, to obscure transactions. Some acted as couriers, transporting cash across US cities before converting it into crypto.
Cryptocurrencies have increasingly been exploited for laundering cartel funds, leveraging their global reach and transaction anonymity. Authorities noted a rise in such schemes using crypto exchanges and shell companies to disguise illegal activities.
This case adds to a growing list of crypto-related laundering incidents, including a 2021 case involving $4 million in cartel funds and other operations tied to major crypto platforms. Regulators worldwide are intensifying efforts to tackle these abuses, emphasising the need for stricter oversight.
South Korean police have confirmed that hackers linked to North Korea’s military intelligence agency were behind a 2019 Ethereum cryptocurrency theft valued at 58 billion won ($41.5 million at the time). Hackers infiltrated a crypto exchange and stole 342,000 Ethereum tokens, which are now worth over 1.4 trillion won ($1 billion).
The stolen funds were laundered through three hacker-controlled crypto exchanges and 51 other platforms, according to South Korea’s National Police Agency. While the exchange targeted was not officially named, South Korea-based Upbit had reported a similar transfer to an unidentified wallet during the incident. The investigation, conducted with the FBI, used IP address analysis and asset tracking to trace the theft to groups reportedly tied to North Korea’s Reconnaissance General Bureau.
This marks the first confirmed instance of North Korean hackers targeting a South Korean crypto exchange. Previously, a UN report linked North Korea to nearly $3.6 billion in crypto heists from 2017 to 2024. South Korean investigators recovered a small fraction of the stolen assets, equivalent to 600 million won, which were returned to the exchange. North Korea denies involvement in such activities despite mounting evidence to the contrary.
Former Binance CEO Changpeng Zhao has alerted the crypto community about a new exploit targeting Intel-based Mac users, which could expose their digital assets. Zhao urged users to immediately patch their systems to protect sensitive data, following the discovery of zero-day vulnerabilities on 19 November. These vulnerabilities also affect iPhones and iPads, prompting Apple to release emergency fixes.
The flaws, tracked as CVE-2024-44308 and CVE-2024-44309, allow hackers to exploit JavaScriptCore and WebKit components on macOS Sequoia. This could lead to cross-site scripting attacks, where attackers inject malicious code into trusted websites, enabling them to steal sensitive information and hijack user sessions.
Despite Apple’s strong security reputation, users have been at risk from several high-profile exploits this year. Previous attacks have included crypto-focused malware and vulnerabilities in Apple’s iMessage framework. With hackers exploiting these flaws, crypto users must stay vigilant and update their systems to safeguard their digital assets.
South Korean authorities have officially confirmed that North Korean hacker groups Lazarus and Andariel orchestrated the infamous $50 million cryptocurrency heist from the Upbit exchange in 2019. The stolen 342,000 Ether (ETH), worth around $147 per coin at the time, has soared in value and is now estimated to be worth over $1 billion due to recent market surges.
The investigation, conducted by South Korea’s National Office of Investigation, tracked crypto flows, IP addresses, and linguistic patterns, with support from the US Federal Bureau of Investigation, to pinpoint North Korea’s involvement. It is the first time South Korea has directly tied a cryptocurrency attack to the reclusive nation, a significant breakthrough in cybercrime investigations.
Meanwhile, the probe into Upbit continues after allegations of weak Know Your Customer measures. Regulators flagged over 600,000 potential violations, including acceptance of unclear identification documents, which could lead to hefty fines and regulatory challenges for the exchange.
Five individuals, alleged members of the hacking group Scattered Spider, face criminal charges in the US. Prosecutors accuse the group of orchestrating phishing schemes to steal sensitive data and cryptocurrency. Victims include at least 12 companies from industries such as gaming and telecommunications, alongside individual cryptocurrency holders.
The suspects, aged in their teens or 20s during the offences, allegedly deceived employees into sharing login details through fraudulent messages. These actions enabled them to access corporate systems and drain millions from personal accounts. The group’s notoriety grew following high-profile hacks of casino operators in 2023, though connections to those incidents remain unclear.
Officials claim Scattered Spider operates as a loose collective of cybercriminals, often collaborating temporarily for specific crimes. Industry experts have long called for stronger enforcement against such groups. Recent arrests signal intensified efforts, with cybersecurity professionals warning young hackers of severe consequences if caught.
The defendants, including individuals from Scotland, Texas, and North Carolina, face charges of conspiracy, identity theft, and wire fraud. Arrests have taken place in the US and Spain, with extradition proceedings underway. Investigations continue as authorities pursue other suspected members of the group.
Germany‘s Federal Court of Justice (BGH) has ruled that Facebook users affected by data breaches in 2018 and 2019 are entitled to compensation, even without proving financial losses. The court determined that the loss of control over personal data is sufficient grounds for damages, marking a significant step in data protection law.
The case stems from a 2021 breach involving Facebook’s friend search feature, where third parties accessed user accounts by exploiting phone number guesses. Lower courts in Cologne previously dismissed compensation claims, but the BGH ordered a re-examination, suggesting around €100 in damages could be awarded per user without proof of financial harm.
Meta, Facebook’s parent company, has resisted compensation, arguing that users did not suffer concrete damages. A spokesperson for Meta described the ruling as inconsistent with recent European Court of Justice decisions and noted that similar claims have been dismissed by German courts in thousands of cases. The breach reportedly impacted around six million users in Germany.
The court also instructed a review of Facebook’s terms of use, questioning whether they were transparent and whether user consent for data handling was voluntary. The decision adds pressure on companies to strengthen data protection measures and could set a precedent for future claims across Europe.
Swiss and Nepalese regulators have raised red flags about the growing risks of cryptocurrency misuse. In its latest Risk Monitor report, Switzerland’s financial watchdog FINMA identified digital assets, especially stablecoins, as a high-risk area for money laundering. The agency highlighted their role in sanctions evasion, dark web transactions, and cyberattacks. FINMA has tightened oversight of financial institutions offering crypto-related services to safeguard the sector’s reputation.
Meanwhile, Nepal’s Financial Intelligence Unit (FIU) reported a surge in crypto misuse for cross-border money laundering and fraudulent investment schemes. Despite a national ban on crypto trading, fraudsters continue exploiting digital assets to obscure illicit funds. Victims often avoid reporting crimes, fearing legal repercussions or social stigma, hindering enforcement efforts.
Authorities in both countries are calling for robust measures to combat these threats, emphasising the need for heightened vigilance and better reporting mechanisms.
Heather Morgan, also known as Razzlekhan, has been sentenced to 18 months in prison for her role in laundering Bitcoin stolen during the 2016 Bitfinex hack. Her husband, Ilya Lichtenstein, who orchestrated the theft of 119,754 Bitcoin, received a five-year prison term. While Morgan was not involved in the hacking itself, she played a significant part in concealing the stolen funds, now valued at $10b.
The couple’s sentences were reduced due to their cooperation with US authorities in other crypto-related cases. However, US District Judge Colleen Kollar-Kotelly stressed the deliberate nature of Morgan’s actions, highlighting the sophisticated methods she used, such as fake identities and small transfers to evade detection.
Morgan’s request for a ‘time served’ sentence was denied, despite claims of harsh pretrial detention conditions. Following her prison term, she will face 36 months of supervised release and a $200 fine. The case underscores the growing scrutiny on crypto-related crime and the severe penalties for offenders.
Russian security experts have uncovered a new deepfake scam exploiting the image of Donald Trump, targeting English-speaking audiences. FACCT, a Moscow-based cybercrime prevention firm, reported that scammers are using a bot to create deepfake videos of prominent figures like Trump, Elon Musk, and Tucker Carlson. These videos are being shared on platforms such as TikTok and YouTube to promote fraudulent crypto exchanges.
The bot allows users to generate customised videos with text up to 400 characters long, which fraudsters use to advertise fake trading platforms. FACCT identified three primary scams: fake exchanges where victims’ tokens are stolen, malware links that compromise crypto wallets, and bogus tokens that can’t be sold.
This warning follows a rise in crypto-related scams in Russia, including digital ruble frauds. Authorities are urging vigilance as the Russian Central Bank prepares to launch its central bank digital currency nationwide next year.
