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Banks in China Starts First Blockchain Compatible Credit Transactions

Banks in China Starts First Blockchain Compatible Credit Transactions

News last Saturday reports that Chinese banks now have blockchain-based systems that can handle credit applications more efficiently to maximize time and save delivery costs. Called the BCLC, the blockchain-enabled transaction network is the first of its kind in the financial industry that allows the technology to work with traditional banking. This transmission development also enables vendors and buyers to record credit history, decreasing the risk scams and system faults. The project was initiated by CITIC president Sun De-Shun to integrate improved blockchain banking capability in the current system. They collaborated with Minsheng Bank to set up the pioneering blockchain-ready […]

China App Store VPN Services to be Terminated by Apple

China App Store VPN Services to be Terminated by Apple

Beijing, China — Last Saturday, a report stated that virtual private network (VPN) programs will be eliminated by Apple from its China app store. Providers ExpressVPN and StarVPN stated that they got a message from Apple regarding their software’s removal from the China app store, citing unlawful content as the reason. However, other VPNs are still available in the store. VPNs are services widely used by Chinese citizens to bypass their national firewall to enter international sites. But local VPNs have been closed recently by authorities to tighten censorship. A statement by ExpressVPN expresses how alarmed they are that Apple […]

Chinese Researchers from Tencent Shown to Hack Tesla Model X Vehicle

Chinese Researchers from Tencent Shown to Hack Tesla Model X Vehicle

Last Friday, researchers from Tencent’s China-based Keen Security Lab posted a blog video that detailed how they hacked a Tesla Model X despite its updated security protocols. Last year, the security lab also posted a video of their team hacking a Tesla Model S. As a response, Tesla claimed they were able to resolve the vehicle’s security flaws, also assuring customers that launching such an attack was not as simple as it looked on the video. However, just this week, Keen Lab researchers were able to override Tesla’s new safety mechanisms which had firmware for system authentication. The video demonstrated […]

Learn More About Cybersecurity and Privacy at Disrupt SF 2017 in September

Learn More About Cybersecurity and Privacy at Disrupt SF 2017 in September

Reports last Thursday announced that the Disrupt SF 2017 conference will be held on September 18 to September 20. It aims to educate attendees about the state of cybersecurity, empowering users to keep themselves safe and secure despite the alarming encroachment of online monitoring, data-stealing AIs, and advertising. Disrupt SF 2017 will provide attendees with vital information about what its like from the point of view of companies and individuals. It will also discuss how the counter-movement allows consumers to reclaim control over their privacy and data. Two prominent cybersecurity and data privacy experts will panel in the event. Heather […]

Def Con Calls On Hackers to Break Into Election Machines

Def Con Calls On Hackers to Break Into Election Machines

Las Vegas, Nevada — In a report last Friday, noted hacker convention Def Con tasked participants this weekend to raid voting equipment in an effort to detect system weaknesses that can be abused to influence election outcomes. This year, the Def Con conference aims to spread knowledge on how perpetrators utilize cyber attacks to manipulate votes. It comes amid the rising fears of electoral interference, with reports saying Russia aided Trump in winning the last election. Def Con’s coordinator Jake Braun stated that voting results are not hack-proof. He said those who claim that election equipment cannot be rigged are […]

Increased Cybersecurity Threats Opens Job Market for Hackers

Increased Cybersecurity Threats Opens Job Market for Hackers

Las Vegas, Nevada — Last Friday, a report reiterated how the rise cyber attacks have created business opportunities for hackers in the field of cybersecurity and data protection. This is evident in hacker conventions like the Def Con conference and the Black Hat convention where recruitment has flourished on the side. Jen Ellis, VP for cybersecurity firm Rapid7 Inc., says they also hold parties to meet highly-skilled people who fit specific security roles. As industries adopt digital management, securing information has become an absolute necessity. Businesses that were not dependent on technological management, from the medical field to automobile businesses, […]

Despite SEC Warning, Cryptocurrency Firms Continue Fund Raising Plans

Despite SEC Warning, Cryptocurrency Firms Continue Fund Raising Plans

New York — News last Friday reported that technology firms are still pushing through with their ICO (initial coin offerings) fund raising plans even after the U.S. Securities and Exchange Commission (SEC) announced that ICOs must be regulated. The SEC said on Tuesday that ICO distributed tokens are considered securities, which makes it mandatory to follow disclosure rules to safeguard investors, unless there are valid exemptions. But since the announcement, the regulator has not yet specified how they will process ICO transactions. A possible exemption could be for ICO utility tokens, which are used for initial activation of start-ups. Under […]

Virgin America Releases Letter Confirming Breach of Employee Login

Virgin America Releases Letter Confirming Breach of Employee Login

Last Thursday, airline Virgin America posted a letter to its workers confirming that their corporate network was hacked on March 13. The letter said that an intruder was able to get unauthorized access to employees’ login data and passwords. An airline representative stated that login information of an estimated 3,120 contractors and workers were exposed. They also fear possible theft of personal details for 110 workers, including their social security codes, addresses, and government ID details. As for customer data breach, Virgin America stated that none of their customers’ information had been affected. It is unspecified how the intruder accessed […]

Bitfinex Announces Miners Will Fork to Create New Token, Bitcoin Cash

Bitfinex Announces Miners Will Fork to Create New Token, Bitcoin Cash

Cryptocurrency firm Bitfinex announced in reports last Friday that another blockchain will be made on August 1 by a few Bitcoin miners who will be forking. This will result to another token called the Bitcoin Cash. Throughout the forking, Bitcoin holders’ accounts will be the same as the balances in Bitcoin Cash.  Even with the new token, it will not impact Bitcoin accounts. Bitcoin traders had several responses to the new token, especially with how it should be treated by traders. Since the firm recognized there were interested traders in the Bitcoin Cash, they began devising methods of dispensing it […]

Google Warns Android Users of New Data-Stealing Spyware Called Lipizzan

Google Warns Android Users of New Data-Stealing Spyware Called Lipizzan

Last Thursday, Google cybersecurity researchers discovered and blocked a new Android malware named Lipizzan that can steal data from emails and messages, record phone calls, and take photos and videos of victims. Lipizzan is known as the intelligent two-step spyware tool that can be contracted through the Google Play Store and several other channels. The malware is said to appear as an inconspicuous app like a cleaner or backup program. This includes 20 other apps, surpassing Google Play security functions since it only begins infection when downloaded by the device. Google was able to stop the initial outbreak of the […]