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Korea
Bitcoin Bitcoin Cyber Threat Bithumb cryptocurrency Cryptocurrency news Cyber Security digital currency Financial Regulators Korea

Bithumb Error Sends 620,000 Bitcoins to Users, Triggers Regulatory Scrutiny in South Korea

 

A huge glitch at Bithumb, South Korea’s second-biggest digital currency platform, triggered chaos when users suddenly found themselves holding vast quantities of bitcoin due to a flawed promotion. Instead of issuing minor monetary rewards, a technical oversight allowed 620,000 bitcoins to be wrongly allocated. Regulators quickly stepped in, launching investigations as the scale of the incident became clear. Recovery efforts are now underway for assets exceeding $40 billion, stemming directly from the mishap. Legal pressure mounts on the firm while authorities assess compliance failures. What began as a routine marketing effort has turned into one of the largest operational blunders in crypto trading history.  

On 6 February, a mistake unfolded amid a promotion meant to give rewards to 695 qualifying users - totaling 620,000 Korean won, about $423. Instead of using local currency, one employee typed in bitcoin by accident; this shifted the reward value dramatically. What should have been small bonuses became 620,000 bitcoins, valued around $42 billion then. Among those who qualified, nearly half accessed their digital boxes before anyone noticed. These 249 people ended up with massive deposits, exceeding the entire crypto balance held by the platform. 

Bithumb said it fixed many incorrect deposits through adjustments in its internal records. Still, regulators noted approximately 13 billion won - about $9 million - was unaccounted for, lost when certain users moved or cashed out funds prior to detection. During the half-hour span before freezing actions began, 86 individuals allegedly offloaded close to 1,788 bitcoins, sparking temporary shifts in pricing across the site's trading system. 

Criticism came fast once news broke. "Catastrophic" was the word used by Lee Chan-jin - head of South Korea’s Financial Supervisory Service - to describe what happened to those who offloaded their bitcoin. With prices climbing afterward, people forced to give back holdings might now owe money instead. Not just a one-off error, according to Lee; it revealed deeper flaws in how crypto platforms handle internal ledgers and transaction safeguards. 

Disagreement persists among legal professionals regarding possible criminal consequences for users who withdrew accidentally deposited bitcoin. Though crypto assets were central to a 2021 South Korean high court decision, their exclusion from the definition of "property" in penal statutes muddies enforcement paths. Instead of pursuing drawn-out lawsuits, Bithumb initiated private talks with around eighty individuals who converted the digital value into local currency, asking repayment in won amounts. 

Now probing deeper, the Financial Supervisory Service has opened a comprehensive review; meanwhile, lawmakers in Seoul will hold an urgent session on 11 February to press officials and platform leaders for answers. Speaking publicly, Bithumb admitted changes are underway - its payout systems being rebuilt, oversight tightened - even though they insist no cyberattack occurred nor did outside actors gain access.
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Global Economy
ai strategy AI Training CISO Cyber Security ec Council Global Economy

EC-Council Introduces AI Training Programs as Demand for Skilled Professionals Grows

 



As artificial intelligence becomes embedded in daily business functions, concerns are growing over whether the workforce is adequately prepared to manage its risks and responsibilities. EC-Council has announced the launch of four new AI-focused certifications along with an updated Certified CISO v4 program, marking the largest single expansion in the organization’s 25-year history.

The rollout comes amid projections that unmanaged AI-related vulnerabilities could expose the global economy to as much as $5.5 trillion in risk, according to industry estimates attributed to IDC. At the same time, analysis from Bain & Company suggests that approximately 700,000 workers in the United States will require reskilling in AI and cybersecurity disciplines to meet rising demand.

Global institutions including the International Monetary Fund and the World Economic Forum have identified workforce capability as a primary constraint on AI-driven productivity, arguing that the barrier is no longer access to technology but access to trained professionals.

Security threats are escalating in parallel with adoption. Reports indicate that 87 percent of organizations have encountered AI-enabled cyberattacks. Additionally, generative AI-related network traffic has increased by 890 percent, significantly expanding potential attack surfaces. Emerging risks include prompt injection attacks, data poisoning, manipulation of machine learning models, and compromise of AI supply chains.

The new Enterprise AI Credential Suite is structured around EC-Council’s operational framework described as Adopt, Defend, and Govern. The “Adopt” pillar emphasizes structured and safeguarded AI deployment. “Defend” focuses on protecting AI systems from evolving threats. “Govern” integrates oversight, accountability, and risk management mechanisms into AI systems from the design stage.

Artificial Intelligence Essentials serves as the foundational certification, aimed at building practical literacy and responsible AI usage across professional roles. The Certified AI Program Manager credential prepares professionals to convert AI strategy into coordinated implementation, ensuring governance alignment and measurable return on investment.

The Certified Offensive AI Security Professional program trains specialists to identify vulnerabilities in large language models, simulate adversarial techniques, and strengthen AI infrastructure. The Certified Responsible AI Governance and Ethics certification centers on enterprise-scale oversight and compliance, referencing established standards such as those developed by NIST and ISO.

Certified CISO v4 has also been updated to prepare executive leaders for AI-integrated risk environments, where intelligent systems influence operational and strategic decisions. According to EC-Council leadership, security executives must now manage adaptive systems that evolve rapidly and require clear governance accountability.

The initiative aligns with U.S. federal priorities outlined in Executive Order 14179, the July 2025 AI Action Plan’s workforce development pillar, and Executive Orders 14277 and 14278, all of which emphasize expanding AI education pathways and strengthening job-ready skills across professional and skilled trade sectors.

AI expertise remains geographically concentrated, with 67 percent of U.S. AI talent located in just 15 cities, while women account for 28 percent of the workforce, underlining ongoing participation disparities.

Founded in 2001, EC-Council is known for its Certified Ethical Hacker credential. The organization holds ISO/IEC 17024 accreditation and reports certifying more than 350,000 professionals globally, including personnel within government agencies, the Department of Defense under DoD 8140 baseline recognition, and Fortune 100 companies.

As AI transitions from experimentation to infrastructure, workforce readiness and governance capability are increasingly central to secure and sustainable deployment.

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Dragos cybersecurity
Critical Infrastructure critical infrastructure cybersecurity Cyber Security Cyber Threats Dragos Dragos cybersecurity

Dragos Warns of New State-Backed Threat Groups Targeting Critical Infrastructure

 

A fresh wave of state-backed hacking targeted vital systems more aggressively over the past twelve months, as newer collectives appeared while long-known teams kept their campaigns running, per Dragos’ latest yearly analysis. Operating underground until now, three distinct gangs specializing in industrial equipment surfaced in 2025, highlighting an ongoing rise in size and complexity among nation-supported digital intrusions. That count lifts worldwide monitoring efforts to cover 26 such organizations focused on physical machinery networks, eleven of which demonstrated live activity throughout the period. 

One key issue raised in the report involves ongoing operations by Voltzite, which Dragos links directly to Volt Typhoon. Instead of brief cyber intrusions, this group aimed at staying hidden inside U.S. essential systems - especially power, oil, and natural gas networks - for extended periods. Deep infiltration into industrial control setups allowed access beyond standard IT zones, reaching process controls tied to real-world machinery. Evidence shows their goal was less about data theft, more about setting conditions for later interference. Long-term positioning suggests preparation mattered more than immediate gain. 

Starting with compromised Sierra Wireless AirLink devices, hackers gained entry to pipeline operational technology environments during one operation. From there, sensor readings, system setups, and alert mechanisms were pulled - details that might later disrupt functioning processes. Elsewhere, actions tied to Voltzite relied on a network of infected machines scanning exposed energy, defense, and manufacturing systems along with virtual private network hardware. Analysts view such probing as groundwork aimed at eventual breaches. 

One finding highlighted three emerging threat actors. Notably, Sylvanite operates as an access provider - exploiting recently revealed flaws in common business and network-edge systems before passing entry points to Voltzite for further penetration. Following close behind, Azurite displays patterns tied to Chinese-affiliated campaigns, primarily targeting operational technology setups where engineers manage industrial processes; it gathers design schematics, system alerts, and procedural records within heavy industry, power infrastructure, and military-related production environments. 

Meanwhile, a different cluster named Pyroxene surfaced in connection with Iran's digital offensives, using compromised suppliers to breach networks while deploying disruptive actions when global political strain peaks. These developments emerged clearly through recent investigative analysis. Still, Dragos pointed out dangers extending beyond China and Iran. Operations tied to Russia kept challenging systems in power and water sectors. Across various areas, probing efforts focused on industrial equipment left visible online. Even when scans did not lead to verified breaches, their accuracy and reach signaled growing skill. 

The report treated such patterns as signs of advancing tactics. Finding after finding points to an ongoing trend: silent infiltration of vital system networks over extended periods. Instead of causing instant chaos, operations seem built around stealthy placement within core service frameworks, building up danger across nations and sectors alike. Not sudden blows - but slow seepage - defines the growing threat.
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South Korea
Bitcoin Bithumb cryptocurrency Cyber Security phishing South Korea

Bithumb Mistakenly Credits Users With Billions in Bitcoin During Promotion Error

 




A promotional campaign at South Korean cryptocurrency exchange Bithumb turned into a large scale operational incident after a data entry mistake resulted in users receiving bitcoin instead of a small cash-equivalent reward.

Initial reports suggested that certain customers were meant to receive 2,000 Korean won as part of a routine promotional payout. Instead, those accounts were credited with 2,000 bitcoin each. At current market valuations, 2,000 bitcoin represents roughly $140 million per account, transforming what should have been a minor incentive into an extraordinary allocation.

Bithumb later confirmed that the scope of the error was larger than early estimates. According to the exchange, a total of 620,000 bitcoin was mistakenly credited to 695 user accounts. Based on prevailing prices at the time of the incident, that amount corresponded to approximately $43 billion in value. The exchange stated that the issue stemmed from an internal processing mistake and was not connected to external hacking activity or a breach of its security infrastructure. It emphasized that customer asset custody systems were not compromised.

The sudden appearance of large bitcoin balances had an immediate effect on trading activity within the platform. Bithumb reported that the incident contributed to a temporary decline of about 10 percent in bitcoin’s price on its exchange, as some affected users rapidly sold the credited assets. To contain further disruption, the company restricted withdrawals and suspended certain transactions linked to the impacted accounts. It stated that 99.7 percent of the mistakenly issued bitcoin has since been recovered.

The event has revived discussion around the concept often described as “paper bitcoin.” On centralized exchanges, user balances are reflected in internal ledgers rather than always corresponding to coins held in individual blockchain wallets. In practice, exchanges may not maintain a one-to-one on-chain reserve for every displayed balance at every moment. This structural model has previously drawn criticism, most notably during the collapse of Mt. Gox in 2014, which was then the largest bitcoin exchange globally. Its failure exposed major discrepancies between reported and actual holdings.

Data from blockchain analytics firm Arkham Intelligence indicates that Bithumb currently controls digital assets worth approximately $5.3 billion. That figure is substantially lower than the $43 billion temporarily reflected in the erroneous credits, underscoring that the allocation existed within internal accounting records rather than as newly transferred blockchain assets.

Observers on social media platform X questioned how such a large discrepancy could occur without automated safeguards preventing the issuance. Bithumb has faced security challenges in the past. In 2017, an employee’s device was compromised, exposing customer data later used in phishing attempts. In 2018, around $30 million in cryptocurrency was stolen in an attack attributed to the Lazarus Group, an organization widely linked to North Korea. A further breach in 2019 resulted in losses of roughly $20 million and was initially suspected to involve insider participation. In each instance, Bithumb stated that it compensated affected users for lost funds, though earlier incidents included exposure of personal information.

Beyond cybersecurity events, the exchange has also been subject to regulatory scrutiny, including investigations related to alleged fraud, embezzlement, and promotional practices. Reports indicate it was again raided this week over concerns involving misleading advertising.

Bithumb maintains that no customer ultimately suffered a net financial loss from the recent error, though the price movement raised concerns about potential liquidations for leveraged traders. A comparable situation occurred at decentralized exchange Paradex, which reversed trades following a pricing malfunction.

The incident unfolds amid broader market strain, with digital asset prices astronomically below their October peaks and political debate intensifying around cryptocurrency-linked business interests connected to U.S. public figures. Recent disclosures from the U.S. Department of Justice concerning Jeffrey Epstein’s early involvement in cryptocurrency ventures have further fueled online speculation and conspiracy narratives across social platforms.

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Information Compromised
Critical Infrastructure critical infrastructure cybersecurity Cyber Breaches cyber espionage Cyber Security Information Compromised

Shadow Campaigns Expose 37 Nations to State-Linked Cyber Espionage Operations

 

A state-backed cyber espionage effort known as the “Shadow Campaigns” has quietly breached government bodies and critical infrastructure across 37 countries. Investigators from Palo Alto Networks’ Unit 42 assess that the activity began by early 2024 and likely originates from Asia. While no formal attribution has been made, the actor is tracked as TGR-STA-1030 or UNC6619. The campaign is marked by stealth and persistence, focusing on long-term intelligence gathering rather than overt disruption. 

At least 70 organizations were confirmed compromised, primarily government ministries and agencies handling finance, trade, energy, mining, immigration, border control, diplomacy, and law enforcement. Victims span multiple regions, including Brazil’s Ministry of Mines and Energy, Mexican and Bolivian government-linked entities, infrastructure in Panama, and agencies across Europe such as those in Germany, Italy, Poland, and Czechia. Other affected organizations include an Indonesian airline, Malaysian government departments, Mongolian law enforcement, a Taiwanese power equipment supplier, and critical infrastructure entities across parts of Africa. 

Reconnaissance activity was even broader. Between November and December, infrastructure linked to 155 countries was scanned. Systems associated with Australia’s Treasury, Afghanistan’s Ministry of Finance, Nepal’s prime minister’s office, and hundreds of European Union and German government IP addresses showed signs of probing. Analysts noted spikes in activity during politically sensitive periods, including the U.S. government shutdown in October 2025 and the lead-up to Honduras’ national election, suggesting interest in geopolitical developments. Initial access often relied on highly targeted phishing emails referencing internal government matters. 

These messages delivered malware via compressed files hosted on Mega.nz, deploying a loader called Diaoyu that could fetch Cobalt Strike and VShell payloads after performing evasion checks. The group also exploited at least 15 known vulnerabilities in products such as Microsoft Exchange Server, SAP Solution Manager, D-Link devices, and Windows systems. A key finding was a custom Linux kernel rootkit, ShadowGuard, which operates at the kernel level to hide malicious activity and evade detection. 

Infrastructure supporting the campaign used legitimate VPS providers in the U.S., Singapore, and the U.K., along with relay servers and anonymization layers. Researchers conclude the actor is highly capable and remains an ongoing threat to governments and critical services worldwide.
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Government Cyber Threats
Critical Infrastructure Cyber Campaigns cyber espionage Cyber Security Cyber Spying Government Cyber Threats

Global Cyber Espionage Campaign Hits Governments in 37 Countries

 

A massive cyber spying effort - linked to a government-backed group operating out of Asia - has breached governmental bodies and essential infrastructure targets in 37 nations, recent findings by Palo Alto Networks reveal. Known under the identifier TGR-STA-1030, the assault reached more than 70 institutions during the last twelve months. This intrusion ranks among the broadest state-associated hacking episodes seen since the major compromise involving SolarWinds back in 2020. 

Attack efforts targeted government bodies handling commerce, monetary policy, power resources, frontier controls, one expert noted. What makes this operation distinct is its breadth and financial angle - data points show interest in critical raw materials, ongoing commercial talks, even realignments in global partnerships. 

What stood out, per Cybersecurity Dive’s coverage, was how Palo Alto labeled the campaign - the widest state-affiliated spying push seen lately. The firm avoided naming any nation directly, yet pointed to origins across Asia, highlighting its reach alongside advanced execution. Though no explicit attribution emerged, the depth of coordination suggested a well-resourced hand behind it.  

Five national law enforcement and border units fell victim, alongside financial branches across three countries, while several agencies handling natural resources or diplomacy also faced breaches. Targeted entities ranged from Taiwan’s state-backed electrical infrastructure provider to Mongolia’s federal policing body, including Indonesia’s senior administrative figure, the Czech legislative chamber plus its defense command, and Brazil’s energy regulatory office. 

State-linked telecom enterprises were impacted too, scattered through different regions without pattern. Peter Renals, principal security researcher with Palo Alto’s Unit 42 threat intelligence team, told Axios that government agencies and critical infrastructure organizations in the United States and United Kingdom were not impacted. Timing of the cyber intrusions seemed tightly linked to key political and economic moments. Around a month prior to Honduras’ presidential vote - marked by discussions on Taiwan relations - numerous state-linked IPs faced targeting. 

Meanwhile, in Mexico, suspicious digital actions emerged after news broke about trade probes connected to upcoming tariff decisions. Facing rising cyber threats, European authorities saw increased digital intrusions. After Czech leader Petr Pavel met with the Dalai Lama, scans appeared across defense, law enforcement, legislative, and administrative systems in the country. In parallel, German infrastructure came under scrutiny - close to five hundred public-sector internet addresses were probed that summer. 

Though separate events, both incidents pointed toward coordinated probing of state-level networks. Beginning with digital deception, the group used fake emails alongside unpatched security holes to enter systems. Exploiting weaknesses in tools like Microsoft Exchange Server and SAP Solution Manager was observed by analysts tracking their moves. Hidden inside compromised machines, a stealthy program named ShadowGuard took root beneath regular operating layers. 

This custom-built tool ran deep in Linux environments, masking operations where most scans rarely look. Alone between November and December, scans hit infrastructure across 155 nations - evidence of persistent probing ahead of possible follow-up actions. Though Palo Alto Networks alerted impacted governments and collaborators, the group behind the activity still operates, its presence a steady concern for critical systems and state-level safety around the globe.
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Open Source
AI cybersecurity AI Risks AI Security AI tools China Cyber Security Consumer Protection Cyber Security Cybersecurity regulation Open Source

China Raises Security Concerns Over Rapidly Growing OpenClaw AI Tool

 

A fresh alert from China’s tech regulators highlights concerns around OpenClaw, an open-source AI tool gaining traction fast. Though built with collaboration in mind, its setup flaws might expose systems to intrusion. Missteps during installation may lead to unintended access by outside actors. Security gaps, if left unchecked, can result in sensitive information slipping out. Officials stress careful handling - especially among firms rolling it out at scale. Attention to detail becomes critical once deployment begins. Oversight now could prevent incidents later. Vigilance matters most where automation meets live data flows. 

OpenClaw operations were found lacking proper safeguards, officials reported. Some setups used configurations so minimal they risked exposure when linked to open networks. Though no outright prohibition followed, stress landed on tighter controls and stronger protection layers. Oversight must improve, inspectors noted - security cannot stay this fragile. 

Despite known risks, many groups still overlook basic checks on outward networks tied to OpenClaw setups. Security teams should verify user identities more thoroughly while limiting who gets in - especially where systems meet the internet. When left unchecked, even helpful open models might hand opportunities to those probing for weaknesses. 

Since launching in November, OpenClaw has seen remarkable momentum. Within weeks, it captured interest across continents - driven by strong community engagement. Over 100,000 GitHub stars appeared fast, evidence of widespread developer curiosity. In just seven days, nearly two million people visited its page, Steinberger noted. Because of how swiftly teams began using it, comparisons to leading AI tools emerged often. Recently, few agent frameworks have sparked such consistent conversation. 

Not stopping at global interest, attention within Chinese tech circles grew fast. Because of rising need, leading cloud platforms began introducing setups for remote OpenClaw operation instead of local device use. Alibaba Cloud, Tencent Cloud, and Baidu now provide specialized access points. At these spots online, users find rented servers built to handle the processing load of the AI tool. Unexpectedly, the ministry issued a caution just as OpenClaw’s reach began stretching past coders into broader networks. 

A fresh social hub named Moltbook appeared earlier this week - pitched as an online enclave solely for OpenClaw bots - and quickly drew notice. Soon afterward, flaws emerged: Wiz, a security analyst group, revealed a major defect on the site that laid bare confidential details from many members. While excitement built around innovation, risks surfaced quietly beneath. 

Unexpectedly, the incident revealed deeper vulnerabilities tied to fast-growing AI systems built without thorough safety checks. When open-source artificial intelligence grows stronger and easier to use, officials warn that small setup errors might lead to massive leaks of private information. 

Security specialists now stress how fragile these platforms can be if left poorly managed. With China's newest guidance, attention shifts toward stronger oversight of artificial intelligence safeguards. Though OpenClaw continues to operate across sectors, regulators stress accountability - firms using these tools must manage setup carefully, watch performance closely, while defending against new digital risks emerging over time.
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online trading
Bitcoins Cryptocurrency Threats Crypto Market Crypto Risk Crypto Safety cryptocurrency Cyber Security online trading

Cryptocurrency Market Slump Deepens Amid Global Tech Selloff and Risk-Off Sentiment

 

Now falling, the crypto market feels strain from turmoil spreading beyond tech stocks worldwide. As investors pull back sharply, digital currencies take a hit alongside firms that list Bitcoin on their books. When one part shakes, others follow - worry grows over how deeply losses might spread through finance and tech alike. 

A sharp drop hit Bitcoin lately, pushing prices toward their weakest point since early 2023. Nearly $12 down for every hundred just yesterday, it now trades near sixty thousand dollars, according to figures on CoinMarketCap. Once hovering near seventy-two thousand, the descent has been relentless. Four months back, it stood at about one hundred twenty-six thousand - today, less than half remains. 

This plunge highlights how deeply the current market retreat is cutting. What stands clear is how ongoing sell-offs, paired with steady withdrawals from spot Bitcoin ETFs, weigh heavily on price direction. Around $60,000, any upward movement in Bitcoin has stalled - this pattern, according to Pi42's co-founder and chief executive, Avinash Shekhar, shapes a guarded mindset among investors. Each time gains slip away, trust in short-term rebound weakens. With swings growing sharper, hesitation lingers in trader behavior. 

Even after a steep drop, Bitcoin showed signs of steadiness around $65,000 by Friday morning in Indian markets. Still, the overall market value fell almost 9 per cent, landing near $1.3 trillion. Trade spiked dramatically - volume climbed above 90 per cent - as approximately $143 billion in Bitcoin shifted in just one day. Around half of all cryptocurrency investors kept leaning toward major coins under pressure, with Bitcoin holding nearly 58 per cent share. Stability returned slowly while trading intensity stayed high. Despite stronger signals elsewhere, wider economic pressures continue to cloud investor mood. 

According to Giottus chief executive Vikram Subburaj, conditions now reflect a typical pullback environment - liquidity shrinks while buyers hesitate and global concerns linger without resolution. When examined closely, shrinking exchange-traded fund flows along with strained blockchain metrics have together dampened appetite for crypto holdings, deepening the drop seen over recent seven-day periods. This drop marks the toughest stretch for digital currencies since last October, just ahead of Donald Trump securing the presidency amid pro-crypto signals throughout his run. 

Not only Bitcoin feels the heat - Ethereum, BNB, Solana, XRP, Dogecoin, Cardano, and Bitcoin Cash all slid 9 to 13 percent in tandem. Sector-wide losses suggest a widespread pullback, not an isolated dip. Despite earlier momentum, confidence now appears fragile across major assets. Besides the plunge, crypto's overall market value now sits near $2.22 trillion. That fall means losses exceeding $2 trillion since the high mark of about $4.39 trillion seen in October 2025, nearly half vanishing within only four weeks. Rather than stabilizing, investor mood has soured due to swings in metals like gold and silver - normally seen as secure - alongside slumping stock markets. 

Because of these shifts, appetite for risk-heavy assets has cooled noticeably. Despite weaker US job figures and rising worries over big spending in AI, the cryptocurrency space stays under pressure, says Akshat Siddhant of Mudrex. Because global markets show caution, downward trends hold firm for now. Yet, within this pullback, patient Bitcoin holders might find pockets of value worth watching closely. Though short-term volatility lingers, the broader downturn isn’t seen as a total barrier to strategic entry points. Following such dips carefully could matter more than reacting fast.
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