News

EU May Raise Taxes on Tech Giants

EU May Raise Taxes on Tech Giants

Brussels, Belgium – Online giants may soon be facing steeper taxes as EU finance ministers discuss changes to tax rules on digital multinationals next week. Tech companies such as Google and Amazon have enjoyed low tax rates in Europe because of existing rules that limit taxation rights to countries where the companies have a physical presence. Given the current legal framework, the Estonian presidency of the EU had proposed in a document that international tax rules should be reformed so that the said companies can properly be taxed in countries where they create value. The presidency also set the discussion […]

Top EU Judges Sends Intel Case Back for Appeal

Top EU Judges Sends Intel Case Back for Appeal

EU antitrust regulators were reported to have suffered a major setback when top European judges referred Intel’s case back to the General Court for re-examination. Intel was handed a 1 billion euro fine last 2009 for blocking AMD when it gave manufacturers such as Dell, HP, NEC, and Lenovo rebates for buying Intel chips. Regulators have regarded rebates, especially from dominant companies, to be anti-competitive. However, companies have fired back, arguing that the regulators must first prove how the said rebates are anti-competitive, before sanctioning them. Foad Hoseinian of Freshfields law firm said that this will embolden companies to take […]

Hong Kong SFC Worried Over ICOs

Hong Kong SFC Worried Over ICOs

Hong Kong’s regulator has expressed its concerns over the boom of ICO funding, a day after China has made a move to ban it over “economic and financial disruption”. Hong Kong’s Securities and Futures Commission (SFC) executive director, Julia Leung, said that those who are involved in ICOs have to know that some ICO structures may be subject to the country’s securities laws. However, it is yet to be determined whether ICO tokens can be considered as security, but the SFC warned that the regulations apply not only to companies holding ICOs in Hong Kong, but also to any entity […]

Cryptocurrencies Slide 20%, May Signal the Start of a Correction

Cryptocurrencies Slide 20%, May Signal the Start of a Correction

A chart from coinmarketcap.com showed that almost every cryptocurrency has gone down as much as twice in the last two days. This steep downtrend came after several months of unprecedented appreciation. The two most popular currencies: Bitcoin and Ethereum fell by 16.5% and 23.5% respectively. The market as a whole has gone down from $180 billion, to $142, which according to experts, may be the start of a correction. It is said that China’s decision to ban ICOs, as well as the possibility of a natural “cool down” period after months of overheating, are some of the major causes of […]

RIAA LAwsuit Shuts Down Youtube-MP3. Org

RIAA LAwsuit Shuts Down Youtube-MP3. Org

As part of the settlement with the Recording Industry Association of America (RIAA), it has been reported that YouTube-MP3.org, considered to be the most popular YouTube ripping site online, will be permanently shut down. The website, which is currently has an Alexa ranking of 335, allowed users to rip MP3 files from YouTube URLs. Because of its popularity, it became a big target for actions against copyright infringement, with plaintiffs including Warner Music, the Universal Music Group, Arista Records, Atlantic Records, Sony, and Elektra launching a lawsuit against the website’s owner Philip Matesanz of PMD Technologies. Experts say that the […]

Chinese Man to be Imprisoned 9 Months for Selling VPNs

Chinese Man to be Imprisoned 9 Months for Selling VPNs

A Chinese man by the name of Deng Jiewei was arrested August of last year and has recently been sentenced 9 months imprisonment for selling VPN software that can bypass China’s Great Firewall. Authorities revealed that Deng and his partner Jiang Zhifeng set up two websites to sell their VPN products which had the translated name “Flying Over SS”, later changed to “Shadow Shuttle Cloud”. The two made a total of $2,150 from selling the software. Their domain, yingsuoyun.com, now redirects to the court’s verdict on the case. Zhifeng is still currently at large. The case is one of the […]

Opera Browser Founder Says Google Needs to be Regulated

Opera Browser Founder Says Google Needs to be Regulated

The founder of Opera and Vivaldi browsers, Jon von Tetzchner, recently said in a blogpost that Google has “gotten too big” and needs to be regulated. Von Tetzchner is known to have had amicable relations with Google’s founders which declined over the years. The relationship took a steep downturn when Google suspended Vivaldi’s AdWords account after Von Tetzchner gave an interview critical of Google and Facebook’s user tracking. Von Tetzchner revealed that Google made unreasonable demands for their AdWords account to be reinstated. He added that the incident lent credence to accusations of anti-competitive practices, and that the search giant […]

Coinbase Users Now Targeted by Banking Trojan TrickBot

Coinbase Users Now Targeted by Banking Trojan TrickBot

Banking trojan TrickBot is now capable of illegally taking funds from Coinbase.com accounts, according to reports last week. Trickbot is a malware strain that first appeared in the fall of 2016. Experts believe the trojan was created by the same developers who worked on the now obsolete banking trojan, Dyre. The malware already had advanced features when it was first discovered. Updates that allowed the strain to expand its further its reach in online banks from different countries According to security researchers from Forcepoint, the TrickBot samples they have found are now able to overlay a bogus login page when […]

Bootloader Security Flaws Found in Codes from Major Chipset Vendors

Bootloader Security Flaws Found in Codes from Major Chipset Vendors

University of California-based researchers have found security flaws via BootStop, a tool they have created that automatically identifies vulnerabilities from bootloaders that launches the OS kernel when the device is powered on. The tool singled out six zero-day flaws from MediaTek, Qualcomm, Huawei, and Nvidia. Vendors have acknowledged 5 of the six security flaws. The researchers said that Huawei’s bootloader design makes the vulnerabilities more severe because it allows attackers to break the chain of trust, making detection more difficult.   They added that bootloaders are particularly reverse engineer, since it is closed source and hardware-specific. Source: Bleeping Computer

MongoDB Ransom Attack Affects 26,000 New Servers

MongoDB Ransom Attack Affects 26,000 New Servers

Over 26,0000 servers were hijacked by three new groups, launching a massive ransom attack on MongoDB databases this weekend. Security researchers Victor Gevers and Dylan Katz detected a so-called extension of the MongoDB apocalypse in 2016. The hacking groups searched for open external connections, which they erase the content, then leave a ransom note. However, most of the victims end up paying the ransom, only to discover that the hackers never really had their data. Gevers said that while the number of attacks have decreased from the beginning of the year, their destructive impact has gone up. He added that […]