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News

Philippines’ central bank greenlights pilot for Peso-backed stablecoin
May 13, 2024 9:27 am
  • BSP approves pilot for PHPC, a Peso-backed stablecoin, in collaboration with Coins.ph.
  • Sandbox testing to evaluate PHPC’s real-world performance and impact on local fiat ecosystem.
  • Transition to real-world usage subject to final evaluations and approvals by central bank.

The digital currencies landscape in the Philippines is set for a major shift after the country’s central bank, Bangko Sentral ng Pilipinas (BSP), granted approval for the commencement of a pilot program for a Philippine Peso-backed stablecoin (PHPC).

BHP’s move signals a progressive step towards exploring the potential of blockchain technology and stablecoins in the nation’s financial ecosystem.

Sandbox testing to evaluate PHPC’s viability

The pilot program, conducted within the framework of BSP’s Regulatory Sandbox, will see the collaboration between the central bank and crypto wallet provider Coins.ph.

The primary objective of the pilot program is to assess the real-world performance of the PHPC and its potential impact on the local fiat ecosystem.

Under the terms of the pilot, Coins.ph will maintain cash reserves in pesos equivalent to the circulating supply of PHPC within the sandbox environment, ensuring a stable 1:1 pegging of the digital currency to the Philippine peso.

BSP’s choice Coins.ph is strategic. Being a licensed crypto service provider in the Philippines, Coins.ph dominates Philippines crypto space, especially after its partnership with Circle in 2023 for USDC remittances in the Philippines. It was the first to add BRC-20-support in the Philippines.

The sandbox testing phase is designed to explore various use cases for PHPC, including domestic and cross-border payments, trading with other virtual assets, hedging against market volatility, and providing collateral and liquidity in decentralized finance (DeFi) applications.

These trials will provide valuable insights into PHPC’s practicality and effectiveness in facilitating financial transactions and promoting financial inclusion in the Philippines.

Transitioning from sandbox to real-world usage

While the pilot program marks an important milestone in the development of PHPC, its transition from a sandbox environment to real-world usage is contingent upon the results of the testing phase and final evaluations by the central bank.

According to local regulations, the duration of the testing period can range from three to 12 months, depending on the complexity of the project. However, no official deadline has been disclosed for the conclusion of the stablecoin experiment.

The current initiative to launch a Peso-backed stablecoin builds upon previous efforts to introduce stablecoins pegged to the Philippine peso, such as the PHX launched by UnionBank in 2019. UnionBank’s PHX, aimed at driving greater financial inclusion, is also redeemable for pesos and implemented on the bank’s i2i platform.

The emergence of PHPC and other stablecoin projects reflects the growing recognition of digital currencies as viable tools for enhancing financial services and expanding access to digital payments in the Philippines.

The post Philippines’ central bank greenlights pilot for Peso-backed stablecoin appeared first on CoinJournal.

Read More
Philippines’ central bank greenlights pilot for Peso-backed stablecoin
May 13, 2024 9:27 am
  • BSP approves pilot for PHPC, a Peso-backed stablecoin, in collaboration with Coins.ph.
  • Sandbox testing to evaluate PHPC’s real-world performance and impact on local fiat ecosystem.
  • Transition to real-world usage subject to final evaluations and approvals by central bank.

The digital currencies landscape in the Philippines is set for a major shift after the country’s central bank, Bangko Sentral ng Pilipinas (BSP), granted approval for the commencement of a pilot program for a Philippine Peso-backed stablecoin (PHPC).

BHP’s move signals a progressive step towards exploring the potential of blockchain technology and stablecoins in the nation’s financial ecosystem.

Sandbox testing to evaluate PHPC’s viability

The pilot program, conducted within the framework of BSP’s Regulatory Sandbox, will see the collaboration between the central bank and crypto wallet provider Coins.ph.

The primary objective of the pilot program is to assess the real-world performance of the PHPC and its potential impact on the local fiat ecosystem.

Under the terms of the pilot, Coins.ph will maintain cash reserves in pesos equivalent to the circulating supply of PHPC within the sandbox environment, ensuring a stable 1:1 pegging of the digital currency to the Philippine peso.

BSP’s choice Coins.ph is strategic. Being a licensed crypto service provider in the Philippines, Coins.ph dominates Philippines crypto space, especially after its partnership with Circle in 2023 for USDC remittances in the Philippines. It was the first to add BRC-20-support in the Philippines.

The sandbox testing phase is designed to explore various use cases for PHPC, including domestic and cross-border payments, trading with other virtual assets, hedging against market volatility, and providing collateral and liquidity in decentralized finance (DeFi) applications.

These trials will provide valuable insights into PHPC’s practicality and effectiveness in facilitating financial transactions and promoting financial inclusion in the Philippines.

Transitioning from sandbox to real-world usage

While the pilot program marks an important milestone in the development of PHPC, its transition from a sandbox environment to real-world usage is contingent upon the results of the testing phase and final evaluations by the central bank.

According to local regulations, the duration of the testing period can range from three to 12 months, depending on the complexity of the project. However, no official deadline has been disclosed for the conclusion of the stablecoin experiment.

The current initiative to launch a Peso-backed stablecoin builds upon previous efforts to introduce stablecoins pegged to the Philippine peso, such as the PHX launched by UnionBank in 2019. UnionBank’s PHX, aimed at driving greater financial inclusion, is also redeemable for pesos and implemented on the bank’s i2i platform.

The emergence of PHPC and other stablecoin projects reflects the growing recognition of digital currencies as viable tools for enhancing financial services and expanding access to digital payments in the Philippines.

The post Philippines’ central bank greenlights pilot for Peso-backed stablecoin appeared first on CoinJournal.

Read More
Philippines’ central bank greenlights pilot for Peso-backed stablecoin
May 13, 2024 9:27 am
  • BSP approves pilot for PHPC, a Peso-backed stablecoin, in collaboration with Coins.ph.
  • Sandbox testing to evaluate PHPC’s real-world performance and impact on local fiat ecosystem.
  • Transition to real-world usage subject to final evaluations and approvals by central bank.

The digital currencies landscape in the Philippines is set for a major shift after the country’s central bank, Bangko Sentral ng Pilipinas (BSP), granted approval for the commencement of a pilot program for a Philippine Peso-backed stablecoin (PHPC).

BHP’s move signals a progressive step towards exploring the potential of blockchain technology and stablecoins in the nation’s financial ecosystem.

Sandbox testing to evaluate PHPC’s viability

The pilot program, conducted within the framework of BSP’s Regulatory Sandbox, will see the collaboration between the central bank and crypto wallet provider Coins.ph.

The primary objective of the pilot program is to assess the real-world performance of the PHPC and its potential impact on the local fiat ecosystem.

Under the terms of the pilot, Coins.ph will maintain cash reserves in pesos equivalent to the circulating supply of PHPC within the sandbox environment, ensuring a stable 1:1 pegging of the digital currency to the Philippine peso.

BSP’s choice Coins.ph is strategic. Being a licensed crypto service provider in the Philippines, Coins.ph dominates Philippines crypto space, especially after its partnership with Circle in 2023 for USDC remittances in the Philippines. It was the first to add BRC-20-support in the Philippines.

The sandbox testing phase is designed to explore various use cases for PHPC, including domestic and cross-border payments, trading with other virtual assets, hedging against market volatility, and providing collateral and liquidity in decentralized finance (DeFi) applications.

These trials will provide valuable insights into PHPC’s practicality and effectiveness in facilitating financial transactions and promoting financial inclusion in the Philippines.

Transitioning from sandbox to real-world usage

While the pilot program marks an important milestone in the development of PHPC, its transition from a sandbox environment to real-world usage is contingent upon the results of the testing phase and final evaluations by the central bank.

According to local regulations, the duration of the testing period can range from three to 12 months, depending on the complexity of the project. However, no official deadline has been disclosed for the conclusion of the stablecoin experiment.

The current initiative to launch a Peso-backed stablecoin builds upon previous efforts to introduce stablecoins pegged to the Philippine peso, such as the PHX launched by UnionBank in 2019. UnionBank’s PHX, aimed at driving greater financial inclusion, is also redeemable for pesos and implemented on the bank’s i2i platform.

The emergence of PHPC and other stablecoin projects reflects the growing recognition of digital currencies as viable tools for enhancing financial services and expanding access to digital payments in the Philippines.

The post Philippines’ central bank greenlights pilot for Peso-backed stablecoin appeared first on CoinJournal.

Read More
Philippines’ central bank greenlights pilot for Peso-backed stablecoin
May 13, 2024 9:27 am
  • BSP approves pilot for PHPC, a Peso-backed stablecoin, in collaboration with Coins.ph.
  • Sandbox testing to evaluate PHPC’s real-world performance and impact on local fiat ecosystem.
  • Transition to real-world usage subject to final evaluations and approvals by central bank.

The digital currencies landscape in the Philippines is set for a major shift after the country’s central bank, Bangko Sentral ng Pilipinas (BSP), granted approval for the commencement of a pilot program for a Philippine Peso-backed stablecoin (PHPC).

BHP’s move signals a progressive step towards exploring the potential of blockchain technology and stablecoins in the nation’s financial ecosystem.

Sandbox testing to evaluate PHPC’s viability

The pilot program, conducted within the framework of BSP’s Regulatory Sandbox, will see the collaboration between the central bank and crypto wallet provider Coins.ph.

The primary objective of the pilot program is to assess the real-world performance of the PHPC and its potential impact on the local fiat ecosystem.

Under the terms of the pilot, Coins.ph will maintain cash reserves in pesos equivalent to the circulating supply of PHPC within the sandbox environment, ensuring a stable 1:1 pegging of the digital currency to the Philippine peso.

BSP’s choice Coins.ph is strategic. Being a licensed crypto service provider in the Philippines, Coins.ph dominates Philippines crypto space, especially after its partnership with Circle in 2023 for USDC remittances in the Philippines. It was the first to add BRC-20-support in the Philippines.

The sandbox testing phase is designed to explore various use cases for PHPC, including domestic and cross-border payments, trading with other virtual assets, hedging against market volatility, and providing collateral and liquidity in decentralized finance (DeFi) applications.

These trials will provide valuable insights into PHPC’s practicality and effectiveness in facilitating financial transactions and promoting financial inclusion in the Philippines.

Transitioning from sandbox to real-world usage

While the pilot program marks an important milestone in the development of PHPC, its transition from a sandbox environment to real-world usage is contingent upon the results of the testing phase and final evaluations by the central bank.

According to local regulations, the duration of the testing period can range from three to 12 months, depending on the complexity of the project. However, no official deadline has been disclosed for the conclusion of the stablecoin experiment.

The current initiative to launch a Peso-backed stablecoin builds upon previous efforts to introduce stablecoins pegged to the Philippine peso, such as the PHX launched by UnionBank in 2019. UnionBank’s PHX, aimed at driving greater financial inclusion, is also redeemable for pesos and implemented on the bank’s i2i platform.

The emergence of PHPC and other stablecoin projects reflects the growing recognition of digital currencies as viable tools for enhancing financial services and expanding access to digital payments in the Philippines.

The post Philippines’ central bank greenlights pilot for Peso-backed stablecoin appeared first on CoinJournal.

Read More
Philippines’ central bank greenlights pilot for Peso-backed stablecoin
May 13, 2024 9:27 am
  • BSP approves pilot for PHPC, a Peso-backed stablecoin, in collaboration with Coins.ph.
  • Sandbox testing to evaluate PHPC’s real-world performance and impact on local fiat ecosystem.
  • Transition to real-world usage subject to final evaluations and approvals by central bank.

The digital currencies landscape in the Philippines is set for a major shift after the country’s central bank, Bangko Sentral ng Pilipinas (BSP), granted approval for the commencement of a pilot program for a Philippine Peso-backed stablecoin (PHPC).

BHP’s move signals a progressive step towards exploring the potential of blockchain technology and stablecoins in the nation’s financial ecosystem.

Sandbox testing to evaluate PHPC’s viability

The pilot program, conducted within the framework of BSP’s Regulatory Sandbox, will see the collaboration between the central bank and crypto wallet provider Coins.ph.

The primary objective of the pilot program is to assess the real-world performance of the PHPC and its potential impact on the local fiat ecosystem.

Under the terms of the pilot, Coins.ph will maintain cash reserves in pesos equivalent to the circulating supply of PHPC within the sandbox environment, ensuring a stable 1:1 pegging of the digital currency to the Philippine peso.

BSP’s choice Coins.ph is strategic. Being a licensed crypto service provider in the Philippines, Coins.ph dominates Philippines crypto space, especially after its partnership with Circle in 2023 for USDC remittances in the Philippines. It was the first to add BRC-20-support in the Philippines.

The sandbox testing phase is designed to explore various use cases for PHPC, including domestic and cross-border payments, trading with other virtual assets, hedging against market volatility, and providing collateral and liquidity in decentralized finance (DeFi) applications.

These trials will provide valuable insights into PHPC’s practicality and effectiveness in facilitating financial transactions and promoting financial inclusion in the Philippines.

Transitioning from sandbox to real-world usage

While the pilot program marks an important milestone in the development of PHPC, its transition from a sandbox environment to real-world usage is contingent upon the results of the testing phase and final evaluations by the central bank.

According to local regulations, the duration of the testing period can range from three to 12 months, depending on the complexity of the project. However, no official deadline has been disclosed for the conclusion of the stablecoin experiment.

The current initiative to launch a Peso-backed stablecoin builds upon previous efforts to introduce stablecoins pegged to the Philippine peso, such as the PHX launched by UnionBank in 2019. UnionBank’s PHX, aimed at driving greater financial inclusion, is also redeemable for pesos and implemented on the bank’s i2i platform.

The emergence of PHPC and other stablecoin projects reflects the growing recognition of digital currencies as viable tools for enhancing financial services and expanding access to digital payments in the Philippines.

The post Philippines’ central bank greenlights pilot for Peso-backed stablecoin appeared first on CoinJournal.

Read More
Philippines’ central bank greenlights pilot for Peso-backed stablecoin
May 13, 2024 9:27 am
  • BSP approves pilot for PHPC, a Peso-backed stablecoin, in collaboration with Coins.ph.
  • Sandbox testing to evaluate PHPC’s real-world performance and impact on local fiat ecosystem.
  • Transition to real-world usage subject to final evaluations and approvals by central bank.

The digital currencies landscape in the Philippines is set for a major shift after the country’s central bank, Bangko Sentral ng Pilipinas (BSP), granted approval for the commencement of a pilot program for a Philippine Peso-backed stablecoin (PHPC).

BHP’s move signals a progressive step towards exploring the potential of blockchain technology and stablecoins in the nation’s financial ecosystem.

Sandbox testing to evaluate PHPC’s viability

The pilot program, conducted within the framework of BSP’s Regulatory Sandbox, will see the collaboration between the central bank and crypto wallet provider Coins.ph.

The primary objective of the pilot program is to assess the real-world performance of the PHPC and its potential impact on the local fiat ecosystem.

Under the terms of the pilot, Coins.ph will maintain cash reserves in pesos equivalent to the circulating supply of PHPC within the sandbox environment, ensuring a stable 1:1 pegging of the digital currency to the Philippine peso.

BSP’s choice Coins.ph is strategic. Being a licensed crypto service provider in the Philippines, Coins.ph dominates Philippines crypto space, especially after its partnership with Circle in 2023 for USDC remittances in the Philippines. It was the first to add BRC-20-support in the Philippines.

The sandbox testing phase is designed to explore various use cases for PHPC, including domestic and cross-border payments, trading with other virtual assets, hedging against market volatility, and providing collateral and liquidity in decentralized finance (DeFi) applications.

These trials will provide valuable insights into PHPC’s practicality and effectiveness in facilitating financial transactions and promoting financial inclusion in the Philippines.

Transitioning from sandbox to real-world usage

While the pilot program marks an important milestone in the development of PHPC, its transition from a sandbox environment to real-world usage is contingent upon the results of the testing phase and final evaluations by the central bank.

According to local regulations, the duration of the testing period can range from three to 12 months, depending on the complexity of the project. However, no official deadline has been disclosed for the conclusion of the stablecoin experiment.

The current initiative to launch a Peso-backed stablecoin builds upon previous efforts to introduce stablecoins pegged to the Philippine peso, such as the PHX launched by UnionBank in 2019. UnionBank’s PHX, aimed at driving greater financial inclusion, is also redeemable for pesos and implemented on the bank’s i2i platform.

The emergence of PHPC and other stablecoin projects reflects the growing recognition of digital currencies as viable tools for enhancing financial services and expanding access to digital payments in the Philippines.

The post Philippines’ central bank greenlights pilot for Peso-backed stablecoin appeared first on CoinJournal.

Read More
Philippines’ central bank greenlights pilot for Peso-backed stablecoin
May 13, 2024 9:27 am
  • BSP approves pilot for PHPC, a Peso-backed stablecoin, in collaboration with Coins.ph.
  • Sandbox testing to evaluate PHPC’s real-world performance and impact on local fiat ecosystem.
  • Transition to real-world usage subject to final evaluations and approvals by central bank.

The digital currencies landscape in the Philippines is set for a major shift after the country’s central bank, Bangko Sentral ng Pilipinas (BSP), granted approval for the commencement of a pilot program for a Philippine Peso-backed stablecoin (PHPC).

BHP’s move signals a progressive step towards exploring the potential of blockchain technology and stablecoins in the nation’s financial ecosystem.

Sandbox testing to evaluate PHPC’s viability

The pilot program, conducted within the framework of BSP’s Regulatory Sandbox, will see the collaboration between the central bank and crypto wallet provider Coins.ph.

The primary objective of the pilot program is to assess the real-world performance of the PHPC and its potential impact on the local fiat ecosystem.

Under the terms of the pilot, Coins.ph will maintain cash reserves in pesos equivalent to the circulating supply of PHPC within the sandbox environment, ensuring a stable 1:1 pegging of the digital currency to the Philippine peso.

BSP’s choice Coins.ph is strategic. Being a licensed crypto service provider in the Philippines, Coins.ph dominates Philippines crypto space, especially after its partnership with Circle in 2023 for USDC remittances in the Philippines. It was the first to add BRC-20-support in the Philippines.

The sandbox testing phase is designed to explore various use cases for PHPC, including domestic and cross-border payments, trading with other virtual assets, hedging against market volatility, and providing collateral and liquidity in decentralized finance (DeFi) applications.

These trials will provide valuable insights into PHPC’s practicality and effectiveness in facilitating financial transactions and promoting financial inclusion in the Philippines.

Transitioning from sandbox to real-world usage

While the pilot program marks an important milestone in the development of PHPC, its transition from a sandbox environment to real-world usage is contingent upon the results of the testing phase and final evaluations by the central bank.

According to local regulations, the duration of the testing period can range from three to 12 months, depending on the complexity of the project. However, no official deadline has been disclosed for the conclusion of the stablecoin experiment.

The current initiative to launch a Peso-backed stablecoin builds upon previous efforts to introduce stablecoins pegged to the Philippine peso, such as the PHX launched by UnionBank in 2019. UnionBank’s PHX, aimed at driving greater financial inclusion, is also redeemable for pesos and implemented on the bank’s i2i platform.

The emergence of PHPC and other stablecoin projects reflects the growing recognition of digital currencies as viable tools for enhancing financial services and expanding access to digital payments in the Philippines.

The post Philippines’ central bank greenlights pilot for Peso-backed stablecoin appeared first on CoinJournal.

Read More
CPI meets $60K BTC price battle — 5 things to know in Bitcoin this week
May 13, 2024 8:53 am

Bitcoin hunts liquidity to start the week as BTC price indicators converge on the key $60,000 zone.

Read More
Kaspersky’s report reveals new tactics used by North Korean crypto hackers
May 13, 2024 8:41 am
  • North Korean hackers deploying “Durian” malware targeting South Korean crypto firms.
  • The resurgence of dormant hackers like Careto underscores the evolving cybersecurity landscape.
  • Hacktivist groups like SiegedSec escalate offensive operations amidst global socio-political events.

The first quarter of 2024 has proven particularly eventful, with notable findings and trends emerging from the frontline of cyber security. From the deployment of sophisticated malware variants to the resurgence of long-dormant threat actors, the landscape of cyber threats continues to shape-shift, presenting new challenges for security experts worldwide.

A recent report by the Global Research and Analysis Team (GReAT) at Kaspersky made a striking revelation shedding light on the activities of various advanced persistent threat (APT) groups.

The Durian malware targeting South Korean crypto firms

Among the findings made by GReAT is the emergence of the “Durian” malware, attributed to the North Korean hacking group Kimsuky. It has been used to target South Korean cryptocurrency firms and it has a high level of sophistication, boasting comprehensive backdoor functionality.

The Durian malware’s deployment marks a notable escalation in the cyber capabilities of Kimsuky, showcasing their ability to exploit vulnerabilities within the supply chain of targeted organizations.

By infiltrating legitimate security software exclusive to South Korean crypto firms, Kimsuky demonstrates a calculated approach to circumventing traditional security mechanisms. This modus operandi highlights the need for enhanced vigilance and proactive security strategies within the cryptocurrency sector, where the stakes are exceptionally high.

The connection between Kimsuky and the Lazarus Group

The Kaspersky report further unveils a nuanced connection between Kimsuky and another North Korean hacking consortium, the Lazarus Group. While historically distinct entities, the utilization of similar tools such as LazyLoad suggests a potential collaboration or tactical alignment between these crypto-threat actors.

This discovery underscores the interconnected nature of cyber threats, where alliances and partnerships can amplify the impact of malicious activities.

Resurgence of dormant crypto hacking groups

In parallel, the APT trends report reveals a resurgence of long-dormant threat actors, such as the Careto group, whose activities were last observed in 2013.

Despite years of dormancy, Careto resurfaced in 2024 with a series of targeted campaigns, employing custom techniques and sophisticated implants to infiltrate high-profile organizations. This resurgence serves as a stark reminder that cyber threats never truly disappear; they merely adapt and evolve.

Other crypto hacking groups terrorising the world

The Kaspersky report also highlights the emergence of new malware campaigns targeting government entities in the Middle East, such as “DuneQuixote”. Characterized by sophisticated evasion techniques and practical evasion methods, these campaigns underscore the evolving tactics of threat actors in the region.

There is also the emergence of the “SKYCOOK” implant utilised by the Oilrig APT to target internet service providers in the Middle East.

Meanwhile, in Southeast Asia and the Korean Peninsula, the activities of threat actors like DroppingElephant continue to pose significant challenges. Leveraging malicious RAT tools and exploiting platforms like Discord for distribution, these actors demonstrate a multifaceted approach to cyber espionage. The use of legitimate software as initial infection vectors further complicates detection and mitigation efforts, highlighting the need for enhanced threat intelligence and collaboration among stakeholders.

On the hacktivism front, groups like SiegedSec have ramped up their offensive operations, targeting companies and government infrastructure in pursuit of social justice-related goals. With a focus on hack-and-leak operations, these groups leverage current socio-political events to amplify their message and impact.

The post Kaspersky’s report reveals new tactics used by North Korean crypto hackers appeared first on CoinJournal.

Read More
Kaspersky’s report reveals new tactics used by North Korean crypto hackers
May 13, 2024 8:41 am
  • North Korean hackers deploying “Durian” malware targeting South Korean crypto firms.
  • The resurgence of dormant hackers like Careto underscores the evolving cybersecurity landscape.
  • Hacktivist groups like SiegedSec escalate offensive operations amidst global socio-political events.

The first quarter of 2024 has proven particularly eventful, with notable findings and trends emerging from the frontline of cyber security. From the deployment of sophisticated malware variants to the resurgence of long-dormant threat actors, the landscape of cyber threats continues to shape-shift, presenting new challenges for security experts worldwide.

A recent report by the Global Research and Analysis Team (GReAT) at Kaspersky made a striking revelation shedding light on the activities of various advanced persistent threat (APT) groups.

The Durian malware targeting South Korean crypto firms

Among the findings made by GReAT is the emergence of the “Durian” malware, attributed to the North Korean hacking group Kimsuky. It has been used to target South Korean cryptocurrency firms and it has a high level of sophistication, boasting comprehensive backdoor functionality.

The Durian malware’s deployment marks a notable escalation in the cyber capabilities of Kimsuky, showcasing their ability to exploit vulnerabilities within the supply chain of targeted organizations.

By infiltrating legitimate security software exclusive to South Korean crypto firms, Kimsuky demonstrates a calculated approach to circumventing traditional security mechanisms. This modus operandi highlights the need for enhanced vigilance and proactive security strategies within the cryptocurrency sector, where the stakes are exceptionally high.

The connection between Kimsuky and the Lazarus Group

The Kaspersky report further unveils a nuanced connection between Kimsuky and another North Korean hacking consortium, the Lazarus Group. While historically distinct entities, the utilization of similar tools such as LazyLoad suggests a potential collaboration or tactical alignment between these crypto-threat actors.

This discovery underscores the interconnected nature of cyber threats, where alliances and partnerships can amplify the impact of malicious activities.

Resurgence of dormant crypto hacking groups

In parallel, the APT trends report reveals a resurgence of long-dormant threat actors, such as the Careto group, whose activities were last observed in 2013.

Despite years of dormancy, Careto resurfaced in 2024 with a series of targeted campaigns, employing custom techniques and sophisticated implants to infiltrate high-profile organizations. This resurgence serves as a stark reminder that cyber threats never truly disappear; they merely adapt and evolve.

Other crypto hacking groups terrorising the world

The Kaspersky report also highlights the emergence of new malware campaigns targeting government entities in the Middle East, such as “DuneQuixote”. Characterized by sophisticated evasion techniques and practical evasion methods, these campaigns underscore the evolving tactics of threat actors in the region.

There is also the emergence of the “SKYCOOK” implant utilised by the Oilrig APT to target internet service providers in the Middle East.

Meanwhile, in Southeast Asia and the Korean Peninsula, the activities of threat actors like DroppingElephant continue to pose significant challenges. Leveraging malicious RAT tools and exploiting platforms like Discord for distribution, these actors demonstrate a multifaceted approach to cyber espionage. The use of legitimate software as initial infection vectors further complicates detection and mitigation efforts, highlighting the need for enhanced threat intelligence and collaboration among stakeholders.

On the hacktivism front, groups like SiegedSec have ramped up their offensive operations, targeting companies and government infrastructure in pursuit of social justice-related goals. With a focus on hack-and-leak operations, these groups leverage current socio-political events to amplify their message and impact.

The post Kaspersky’s report reveals new tactics used by North Korean crypto hackers appeared first on CoinJournal.

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