Cyvers in the News

Indonesian crypto exchange Indodax suffers $22m hack: report

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^{Analysts at Cyvers  , another blockchain forensic firm}, say the hackers have already swapped the stolen tokens to Ethereum, with on-chain data showing altcoins have also been converted into TRON, Polygon, and Bitcoin.

Bitcoin ETFs are next major target for North Korean hackers — Cyvers

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Hackers could start shifting their attention to the US Bitcoin ETFs due to the sizable potential bounty, ^{according to Michael Pearl, vice president of GTM strategy at onchain security company Cyvers}

Pearl told Cointelegraph in an exclusive interview:

“Only recently the FBI has issued a warning that North Korean hackers are going to try to infiltrate and steal money from ETFs. So, all those ETFs […] are storing the base Bitcoin somewhere. And you can be certain that somebody is already planning and thinking of how they're going to steal it.”

Uncertainty around the mandatory reimbursement cap for APP frauds – a new headache for FI firms and their insurers?New regulations coming on 7 October 2024 will require payment firms to reimburse victims of authorized push payment (APP) fraud up to a set limit. On 4 September 2024, the Payment Systems Regulator (PSR) announced a consultation proposing to set this limit at £85,000, vastly reduced from the previously proposed £415,000 cap.