Are Cryptocurrencies Next Big Bust or Revolution in Finance?

Jackson Palmer and his once-wildly successful cryptocurrency Dogecoin are a cautionary tale for those bedazzled by Bitcoin. Palmer was an early enthusiast of cryptocurrency, but sought a way to mock the hype around investing huge sums of money in it. He created his own cryptocurrency, Dogecoin, based on an Internet meme of a Shiba Inu dog. Instead of getting the joke, investors brought Dogecoin’s market value to $400 million, before scammers and hackers brought it down, selling fake products and defrauding investors. Continue reading Are Cryptocurrencies Next Big Bust or Revolution in Finance?

Equifax Data Breach, Discovered in July, Impacts 143 Million

Equifax reported that hackers likely gained access to the personal information of about 143 million people in the U.S., making it the second biggest data breach after last year’s two Yahoo hacks, which impacted as many as 1.5 billion customers. The Equifax hack is almost twice as large as the J.P. Morgan Chase & Co. hack three years ago. The damage the hack to Equifax will do is as of yet unknown, but it could be serious, given the immense scope of the attack and the future potential for fraud.   Continue reading Equifax Data Breach, Discovered in July, Impacts 143 Million

Google Ramping Up its Artificial Intelligence Efforts in China

Despite earlier concerns over censorship and a cyberattack traced to Chinese hackers — and the fact that its search engine can only be accessed in the region by using VPNs (due to the government’s filtering system) — Google is reportedly ramping up its presence in China. Its careers web page lists nearly 60 open positions in Beijing and Shanghai. According to The Wall Street Journal, at least four of the engineering positions involve artificial intelligence, “including a technical lead to develop a team to work on natural language processing, data compression and other machine learning technologies.” Continue reading Google Ramping Up its Artificial Intelligence Efforts in China

Ransomware: Hackers Extort $1 Million From One Company

In the largest ransomware payout to date, South Korean web provider Nayana has agreed to pay $1 million to hackers who originally demanded 550 Bitcoins, about $1.62 million. Following negotiations, Nayana has agreed to pay $1 million in three installments. The ransomware, identified as Erebus by cybersecurity firm Trend Micro, impacted 153 Linux servers and more than 3,400 websites hosted by Nayana. “This is the single largest-known payout for a ransomware attack, and it was an attack on one company,” reports CNET. “For comparison, the WannaCry ransomware attacked 200,000 computers across 150 countries, and has only pooled $127,142 in Bitcoins since it surfaced.” Continue reading Ransomware: Hackers Extort $1 Million From One Company

Bitcoin Market Trending Upwards, But Ethereum On the Rise

The Bitcoin market, almost a decade old, is now skyrocketing in value. Behind Bitcoin’s rising price are investments by Japanese investors and a heightened perception of global perils. Over the weekend, according to the website CoinDesk, the price of Bitcoin reacted to a sudden spell of speculative investment, trading above $2,200 on Monday, which represents more than 15 percent from the closing price of $1,913 on Friday. Bitcoin is up 397 percent from a year ago and 130 percent this year. Continue reading Bitcoin Market Trending Upwards, But Ethereum On the Rise

Advice on Keeping Smaller Businesses Safe From Cybercrime

The threat of ransomware and malware are growing. The “WannaCry” attack impacted at least 200,000 computers in 150 countries before peaking last week. Adylkuzz is another piece of malware currently threatening computers around the world. As computers become increasingly connected, so opportunities for cybercrime expand, say the experts. Part of the problem is that the Internet wasn’t designed with cybersecurity protections, and criminals are attracted to cybercrimes for the relatively easy profits they can make. Continue reading Advice on Keeping Smaller Businesses Safe From Cybercrime

Extortion Hacking On the Rise, But Does Not Always Pay Off

Cyberattacks are on the rise, with major corporations, media companies, the healthcare industry and even the federal government becoming targets of hacking. Recent incidents involved media content as hackers threatened early releases of movies and streaming series if the property owners failed to pay ransoms. Hackers called the Shadow Brokers told the NSA they would release secret espionage tools unless the agency pays up. Security experts suggest that this type of extortion has had mixed results thus far. Continue reading Extortion Hacking On the Rise, But Does Not Always Pay Off

Google Docs Users Targeted in Widespread Phishing Attack

A major phishing attack mimicking cloud-based Google Docs software spread across news organizations and other companies yesterday. Gmail users have been reporting massive numbers of fraudulent emails that masquerade as a message from Google Docs. The emails appear as an invitation to join a Google Doc and often claim to be sent by an individual in the user’s address book. However, clicking on the embedded link directs recipients to grant access to a Google Docs app that is actually a program that sends spam to addresses in the recipient’s email. Continue reading Google Docs Users Targeted in Widespread Phishing Attack

Hacker Releases Original Netflix Content, Threatens Networks

A hacker group that goes by the name “TheDarkOverlord” has reportedly stolen episodes from a number of television shows. Over the weekend, 10 episodes from the upcoming fifth season of “Orange Is the New Black” was shared after Netflix did not meet ransom requests. The hackers may have access to up to three dozen series from networks including ABC, CBS, Fox, FX, IFC, NatGeo and NBC. It provided a list of TV series and a few movies to cybersecurity blog DataBreaches.net, claiming that the content was stolen from audio post-production facility Larson Studios. Continue reading Hacker Releases Original Netflix Content, Threatens Networks

NAB 2017: SMPTE Future of Digital Cinema Looks at Security

At a SMPTE symposium on the Future of Digital Cinema, speakers addressed the “unknown” cyber threats to movie security. SMPTE vice president of education Richard Welsh, cofounder/vice president of Sundog Media Toolkit, identified threats beyond “the kid with a camcorder.” The audience also heard from Emile Monette, a government cybersecurity senior advisor and Ted Harrington of ISE (Independent Security Evaluators). The general consensus is that many companies fail to understand the way hackers work, leaving their content vulnerable. Continue reading NAB 2017: SMPTE Future of Digital Cinema Looks at Security

Third-Party Sellers on Amazon Become Latest Hacking Target

Hackers are reportedly targeting third-party sellers on Amazon by using stolen email and password credentials (available for purchase from previous hacks via the “Dark Web”) in a scam to post fake product deals online and pocket cash. Thieves have changed the bank info of active sellers on Amazon to steal amounts up to tens of thousands from each and have hacked less active sellers to post merchandise that does not exist, offering products at steep discounts. While PayPal and eBay have been targeted by hackers in the past, cybersecurity experts indicate that Amazon is becoming a new target. Continue reading Third-Party Sellers on Amazon Become Latest Hacking Target

U.S. Claims That Russian Hackers Were Behind Yahoo Attack

The Department of Justice officially charged four people yesterday in connection with Yahoo’s 2014 data breach that reportedly resulted in the theft of data from 500 million Yahoo accounts. According to the indictment, the Russian government used the data obtained by two intelligence officers (Dmitry Dokuchaev, Igor Sushchin) and two hackers (Alexsey Belan, Karim Baratov) to spy on White House and military officials, bank executives, cloud computing companies, a senior level airline official, a Nevada gaming regulator, as well as Russian journalists, business execs and government officials. Continue reading U.S. Claims That Russian Hackers Were Behind Yahoo Attack

Half of Web Traffic Now Encrypted as Websites Adopt HTTPS

A new report from rights organization Electronic Frontier Foundation (EFF) found that half of today’s Web’s traffic is now protected by encryption. The increased adoption of HTTPS is largely a result of efforts from big tech companies, like Google and Facebook, and an increased awareness of government surveillance. Google started factoring whether a website was on HTTPS or HTTP into its algorithm. WordPress, one of the biggest Web hosting providers, switched to HTTPS last year. Continue reading Half of Web Traffic Now Encrypted as Websites Adopt HTTPS

Verizon to Pay $350 Million Less for Yahoo Internet Businesses

Verizon and Yahoo announced yesterday plans to move forward with the sale of Yahoo’s core Internet businesses. In the wake of major data breaches at Yahoo, the purchase price has been lowered by $350 million for a new deal valued at $4.48 billion. The companies plan to split future costs related to the data breaches. “The revised agreement,” notes The New York Times, “paves the way for the deal to proceed to a shareholder vote as early as April, although securities regulators are still assessing how Yahoo disclosed information about the breaches to investors.” Verizon is looking to compete with Facebook and Google in digital advertising and, according to The Wall Street Journal, plans to fold Yahoo’s ad tech and websites “into AOL, which Verizon acquired in 2015.” Continue reading Verizon to Pay $350 Million Less for Yahoo Internet Businesses

Yahoo Warns Users: Hackers Forged Cookies to Access Data

Yahoo has issued another warning that users’ personal data may have been compromised. In addition to the malicious activity reported in December that involved more than 1 billion user accounts in 2013-2014, following the September report regarding a separate theft of 500 million records, the Internet company is now notifying users that additional accounts were compromised between 2015 and 2016. “The stolen data included email addresses, birth dates and answers to security questions,” reports CNBC. The hacks involved “the use of ‘forged cookies’ — strings of data which are used across the Web and can sometimes allow people to access online accounts without re-entering their passwords.” Continue reading Yahoo Warns Users: Hackers Forged Cookies to Access Data