Bitcoin is touted as a secure, decentralized and anonymous way to conduct financial transactions, one reason why cybercriminals use it or some other cryptocurrency when conducting illegal business, whether it’s drug trafficking or ransomware. But this week the Justice Department revealed that it traced and recovered 63.7 of the 75 Bitcoins ($2.3 million of the total $4.3 million) that Colonial Pipeline paid in ransom to release its computer systems. The feds declined to detail how they recouped the Bitcoin. Meanwhile, El Salvador has become the first nation to formally adopt Bitcoin as legal tender. Continue reading Bitcoin Ransom Recovery May Impact Cryptocurrency Status

To improve encryption, Google has launched an open source project, Key Transparency, a follow-up to its Certificate Transparency, both of which focus on the need to verify the authenticity of the person or server the user believes he is connecting to. Keybase, a collection of verified users and their “cryptographic credentials” is one solution, but Google now wants to ascertain that the contacts are verified systematically and are privacy-protected, by having the address “double-check” itself. Continue reading Google Key Transparency Project to Boost Messaging Security