Free Republic

Among many claimed benefits, cryptocurrencies supposedly offer two significant benefits over fiat currencies: 1) autonomy and 2) discretion. This past week, the U.S. federal government took them both down. The U.S. Department of Justice issued a press statement that it had seized $2.3 million in cryptocurrency. The seizure was the result of the FBI's Colonial Pipeline investigation. As a reminder, Colonial Pipeline, the U.S.'s largest pipeline for refined oil products, was the victim of a cyberattack. Against the U.S.'s wishes and policies, Colonial Pipeline paid millions in ransom to retake control of the pipeline. According to the FBI, they had...

...Deputy Attorney General Lisa Monaco said investigators had seized 63.7 Bitcoins, now valued at about $2.3 million, paid by Colonial (COLPI.UL) after last month's hack of its systems that led to massive shortages at U.S. East Coast gas stations....An affidavit filed on Monday said the FBI was in possession of a private key to unlock the hackers' Bitcoin wallet. It was unclear how the FBI gained access to this key...."Today, we've turned the tables on DarkSide," said Monaco, referring to a ransomware group widely believed to have been behind the crippling fuel pipeline attack.

Pro-Russian hacking outfits Killnet, REevil and Anonymous Sudan have allegedly formed an alliance to launch a concerted cyberattack on the Western financial system, particularly targeting the SWIFT wire transfer system, according to CyberKnow.Forged in the underground hacking forums, the groups stated their “no money – no weapons – no Kiev regime” formula to cut off the pipeline of Western aid to Ukraine.Their primary target is the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system, which powers most international money and security transfers, failure of which could potentially cripple the Western financial system.Other targets in their crosshairs include European and US...