Cybersecurity

UK Announces Creation of London Cybercrime Court

UK Announces Creation of London Cybercrime Court

The British government announced last Wednesday the creation of a specialist court in London to hear cases relating to cybercrime. First announced last October, the deal between the judiciary and the City of London corporation will result to an 18-courtroom center which will be built at Fleetbank House on Fleet Street.   The new center, which will replace the civil court, Mayor’s and City of London County Court, and the City of London Magistrates’ Court, is expected to address the millions of incidents of criminal fraud and cybercrime experienced by UK residents. Official statistics suggest that in 2017 alone, £130 […]

24-Year Old Sentenced to Prison in Japan for Cryptojacking

24-Year Old Sentenced to Prison in Japan for Cryptojacking

A 24- year old Japanese man named Yoshida Shinkaru was recently given a one-year prison sentence for illegally mining cryptocurrency using the Monero mining tool on user PCs. Shinkaru reportedly used the Coinhive on an online gaming cheat tool and made it available for download. Users who installed unknowingly had their PCs mine Monero for Shinkaru, but his profits only totalled to around $45. Judge Ryo Kato, who handled the case, commented that a successful criminal exploit of the defendant’s programming technology created the root of harm that compromises trust in personal computer programs. Source: ZDNet

Cybersecurity Fund Sees 30 Percent Returns After Equifax Breach

Cybersecurity Fund Sees 30 Percent Returns After Equifax Breach

Despite the heightened trade rhetoric that caused the stock market to struggle and issues that have dampened the performance of the tech stocks in recent months, it was observed that the cybersecurity sub-sector is going in the opposite direction, with popular exchange-traded fund gaining as much as 31% since the Equifax data breach.   The ETFMG Prime Cyber Security ETF (HACK), which was launched in November 2014, is now up 18% this year. Included in the fund are companies such as Palo Alto Networks, Fortinet, FireEye, Juniper Networks, CyberArk Software, Symantec and Cisco. According to Gartner, cybersecurity spending is expected […]

Trump Admin to Block China Mobile from Entering US Market

Trump Admin to Block China Mobile from Entering US Market

The US government recommended this week that China Mobile be prevented to enter into the US telecommunications market, saying that the company may pose a national security risk. David Redl, assistant secretary for communications and information at the U.S. Department of Commerce, said that they were unable to resolve concerns on risk to US law enforcement and national security interests even after a significant amount of engagement with the company. China Mobile, currently the world’s largest telecom carrier with 899 million subscribers, is largely owned by China Mobile Communications Corporation, a Chinese government-controlled firm.   Source: Reuters

Webcam Blackmail Scam Hits Hundreds of Australians

Webcam Blackmail Scam Hits Hundreds of Australians

An online scam website had reportedly recorded hundreds of Australians on their webcam without consent and threatened to post the footage on YouTube if the victim did not pay the ransom. The scammers ran a computer help website that had an 1800 number that victims called up. Once they are in contact, the fake techs request to connect remotely to the victim’s computer and spy on them, and in some occasions steal sensitive information such as banking details. Communications Allaince CEO John Stanton said in a statement that while the telecommunications industry worked to shut down the numbers, it is […]

Singapore Tech Agency to Share Cyber Vision at Innovation Conference

Singapore Tech Agency to Share Cyber Vision at Innovation Conference

John Kan, CIO of Singapore’s Agency for Science, Technology and Research (A*STAR) announced this week that they will be sharing their cyber security plans at the Innovation Labs World conference this September 25. Kan said that they will sharing how the agency pushes Singapore’s research goals by developing capabilities in artificial intelligence, machine learning and supercomputers. Kan, who will be speaking at the Cyber Security and Critical Information Structure focus group, will be joined by Dr. Pun-Arj Chairatana, Director of Thailand’s National Innovation Agency. Source: GovInsider

ZTE Unveils New Board to Lift US Ban

ZTE Unveils New Board to Lift US Ban

Chinese telecom giant ZTE revealed this week a new board in fulfillment to an agreement it entered with the US government to lift the ban on its business in the country. According to exchange filings last Friday, Li Zixue was elected as the company’s new chairman, while the old board and senior management, headed by Chairman Yin Yimin, have submitted their resignation on June 29. Even though the company had already paid a $1 billion penalty and put $400 million in an escrow account as part of the deal, the U.S. Department of Commerce still has to work out the […]

Support Chat Tool Blamed for Ticketmaster Breach

Support Chat Tool Blamed for Ticketmaster Breach

A support chat tool made by tech firm Inbenta is being blamed for the recent data breach at Ticketmaster. It was found that hackers had exploited a flaw in the software’s code to harvest payment information from ticket customers. Inbenta CEO Jordi Torras confirmed that their software had been used to breach Ticketmaster but assured that no other customer data had been affected. Ticketmaster previously confirmed that customer names, addresses, email addresses, phone numbers, payment details and login details of international customers who bought tickets between September 2017 and June 23 may have been stolen. Source: ZDNet

Free Decryption Tool for Thanatos Released for Free

Free Decryption Tool for Thanatos Released for Free

Victims who have been hit by the destructive ransomware called Thanatos will now be able to unlock their files for free using a free decryptor recently released by Cisco Talos. The malware which has been spread as an attachment, is known to lock out victims rom their data even after the ransom has been paid. The tool, which is now available on GitHub, works on all current versions of Thanatos. The researchers recommend that users should run it on the original infected computer to decrypt files across a network as quickly as possible. Source: ZDNet

Huawei Hits Back at US Lawmakers Over Research Funding

Huawei Hits Back at US Lawmakers Over Research Funding

Huawei’s rotating chairman Eric Xu hit back at several US lawmakers who called the company’s contribution to the research funding of over 50 American universities a “significant threat” to national security. Xu scathingly remarked that US congressmen Marco Rubio and Jim Banks had been “ill-informed” and are being “closed-minded”. The congressmen added in their open letter that Huawei’s Innovation Research Program were a core part of “China’s toolkit for foreign technology acquisition”. Xu added that the lawmakers showed not just ignorance of how science and innovation presently works, but also their lack of confidence in the U.S.’ competitiveness. Source: Reuters