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Crypto Hacks Turn Cyber Risk Into Physical Attacks

By James Rundle

 

Good day. Experts worry that escalating violence against prominent figures in the cryptocurrency world and their families may worsen after recent hacks of crypto companies.

A wave of violence globally has unsettled the crypto community. A co-founder of wallet provider Ledger was abducted and tortured in January, and assailants attempted to kidnap the daughter of a crypto exchange founder on the streets of Paris last week.

Concerns have intensified after Coinbase disclosed last week that as many as 97,000 users may have had their information stolen, including addresses and balance snapshots. Criminals are savvy at cross-referencing leaks with other information to identify victims, who now have to factor in physical risk as well as protecting their accounts from hackers.

Read our full story here.

Also today:

  • Pause in U.S. cyberattacks on Russia lasted one day.
  • The cyber army guarding the Vatican
  • Strong support for cyber law renewal.
 

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Regulation & Enforcement

PHOTO: FARRAH SKEIKY/THE WALL STREET JOURNAL

Alabama Man Sentenced for SEC Hack. Eric Council Jr of Athens, Ala., received a 14-month prison sentence for hacking into the U.S. Securities and Exchange Commission’s X account. Council pleaded guilty in February to orchestrating the attack, in which he posed as an SEC employee to gain a replacement SIM card for their phone, which enabled access to the agency’s account. He was also ordered to pay $50,000 in forfeiture. (The Record)

Strong Support for Cyber Law Renewal. A House committee expressed bipartisan support for renewing a 2015 law that governs information-sharing between federal agencies and the private sector. The Cybersecurity Information Sharing Act is due to expire this year, but testimony in a hearing Friday described the law as the bedrock of modern cybersecurity, albeit one that could be improved if re-authorized. (Cybersecurity Dive)

 

National Security

PHOTO: ANDREW HARNIK/GETTY IMAGES

Pause in Russia Cyber Operations Lasted One Day. Rep. Don Bacon (R., Nebr.) said that the U.S. halted its cyber operations against Russia for just one day, after the Defense Department denied media reports in February that such an order had been given. In a House hearing Friday, Bacon said he had looked into the matter, and that the pause had been temporary, seemingly verifying earlier reports from The Record, the Washington Post and others. (The Record)

Inside the Vatican’s Volunteer Cyber Army. As Pope Leo XIV takes office, the Vatican’s digital borders are being defended by a group of 90 volunteers from around the world, and only about half of them are Catholic. “We’re like the Swiss Guard that provides security for the Vatican, but digital," the group's founder Joseph Shenouda said. (Politico)

 

Cyberattacks

PHOTO: ANDY RAIN/SHUTTERSTOCK

Investors Watch for Retail Results This Week After String of Attacks. British retail giant Marks & Spencer is due to report its quarterly results this week. The period covers the months before its recent, devastating cyberattack, but analysts expect that event – and its fallout – to dominate discussions. Last week, Alphabet’s Google warned that the group responsible for the attack is turning its attention to U.S. retailers. (The Guardian)

 

About Us

The WSJ Pro Cybersecurity team is Deputy Bureau Chief Kim S. Nash and reporters Angus Loten, James Rundle and Catherine Stupp. Follow us on X @WSJCyber. Reach the team by replying to any newsletter you receive or by emailing Kim at kim.nash@wsj.com.

 
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