Recent Posts

Malicious Code Used in British Airways Hack Found

Malicious Code Used in British Airways Hack Found

A researcher from cybersecurity firm RiskIQ said that he had discovered a “skimming script” on the British Airways website which may have been used by hackers to steal financial data. The airline was recently hit by a breach that compromised the data of around 380,000 customers. The code was said to have been customized to take advantage of British Airways’ payment page, which suggests that the hackers carefully planned how to attack the website. It was also pointed out that it is common practice for large websites to embed chunks of code from third-parties and other sources, and the malicious […]

Securities Laws to Apply to Cryptocurrencies, New York Judge Rules

Securities Laws to Apply to Cryptocurrencies, New York Judge Rules

U.S. District Judge Raymond Dearie ruled last Tuesday that the country’s securities laws can be used in prosecuting cryoto fraud allegations. The New York federal judge made the decision in a case against Brooklyn resident Maksim Zaslavskiy who was accused of defrauding investors in two digital currencies supposedly backed by diamonds and real estate. Dearie said that the laws should be interpreted “flexibly”, and dismissed the motion of the defendant to have the charges dropped on the grounds that the Securities Exchange Act does not cover cryptocurrencies. Source: Coin Telegraph

Wall Street Regulators to Take Action Against Crypto Firms

Wall Street Regulators to Take Action Against Crypto Firms

The SEC and the Financial Industry Regulatory Authority (FINRA) announced this week that they will be taking actions against cryptocurrency companies such as levying fines which may help regulate the nascent asset class. The Wall Street regulators said that they consider some tokens to be securities, which would make them subject to federal laws.  FINRA has already taken action against the owner of Rocky Mountain Ayre for selling HempCoin. The cryptocurrency, which was supposedly backed by shares of Timothy Ayre’s company, was not registered as a security. Meanwhile, the SEC announced that digital currency vendor TokenLot had already settled for […]

EU to Vote on Controversial Copyright Directive

EU to Vote on Controversial Copyright Directive

European lawmakers this week will be deciding on a controversial copyright reform that is likely to affect how and what content is uploaded online. It is said that the directive, which is supported mostly by artists, authors and creators, aims to protect creators by forcing those who upload or link to their work online to pay. It will also hold websites such as Facebook and YouTube responsible for the content their users upload. However, critics say that the broad rules could impact parodies, remixes, and even articles and websites. The directive’s Article 13 in particular, was slammed and many have […]

Swiss Data Management Company Exposes 445 Million Records

Swiss Data Management Company Exposes 445 Million Records

Swiss data management services provider, Veeam, reportedly left a database with over 200 GB of sensitive data on a MongoDB server which was completely unsecured and viewable to the public. The leak was discovered by security researcher Bob Diachenko who immediately warned the company. The vulnerable trove of data which included around 445 million customer records got taken offline four days later. Experts pointed out that leaks in the past had often been caused by misconfigured instances of MongoDB, which was initially used for access from local networks.     Source: Bleeping Computer

Russia, China Unveils Joint Investment in High Tech Development

Russia, China Unveils Joint Investment in High Tech Development

The Russia-China Investment Fund (RCIF) and China’s Tus-Holdings on Tuesday announced this week a joint investment plans which would pour $1.28 billion in Moscow’s Tushino Project Technology Park. Kirill Dmitriev, Co-CEO of RCIF said that the partnership will aim to achieve breakthroughs in the area of advanced technologies and facilitate their early implementation. The group which oversees the billions in investment, the Russian-Chinese Business Advisory Committee, held its annual meeting this week during the Eastern Economic Forum in Vladivostok, Russia. The committee is composed of 150 representatives from “leading Russian and Chinese companies. Source: Reuters

China to Conduct Thorough Checks on Ride-Hailing Industry Through End of 2018

China to Conduct Thorough Checks on Ride-Hailing Industry Through End of 2018

China’s transport ministry is set to conduct thorough checks on the ride-hailing industry through the end of the year. The move was reportedly prompted by the safety issues plaguing the growing sector, which culminated in the murder of a passenger by a Didi driver. The ministry says that it will work with the police and implement standards that will ensure rider safety. Vehicles and drivers that are unable to meet the standards by the end of 2018 will be removed. This will significantly add to the mounting pressure on Didi Chuxing Technology Co. which has already committed 140 million yuan […]

Trend Micro Apps Removed from Mac App Store for Leaking User Data

Trend Micro Apps Removed from Mac App Store for Leaking User Data

Apple had reportedly removed several apps under Trend Micro’s developer account, including Dr. Antivirus, Dr. Cleaner, and Dr. Unarchiver for silently collecting information from the user’s system. A number of researchers had found that the top-rated apps were hardcoded to exfiltrate user information such as browser history, serial number, and OS version. One of the researchers, Privacy_1, further revealed that apps from Chinese developers such as Adware Doctor, Komros Adware Cleaner, Open Any Files and Adblock Master exhibited the same behavior. TrendMicro, meanwhile, said that their apps merely collected browser snapshots for security purposes, but the behavior had been disclosed […]

Russian Charged for Hacking High Profile US Targets

Russian Charged for Hacking High Profile US Targets

A Russian man by the name of Andrei Tyurin has been extradited to the US and charged for his involvement in a massive hacking campaign that included the likes of JP Morgan Chase. Tyurin was part of a cyber criminal gang that attacked US banks, brokers, and financial news firms in 2012 to 2015. The Department of Justice said that the group was able to steal information for around 100 million US citizens. The cyber criminals reportedly used a number of technical tricks to penetrate accounts, including the use of the Heartbleed malware which is used to access sensitive information […]

Crypto Not Viable for Funding Terrorists, FDD Says

Crypto Not Viable for Funding Terrorists, FDD Says

The U.S. Foundation for Defence of Democracies’ (FDD) Center on Sanctions and Illicit Finance (CSIF) recently said in its report that cryptocurrencies are ill-suited for financing terrorist groups. CSIF director of analysis Yaya Fanusie told the US House of Representatives that the public visibility of transactions on the blockchain leaves a trail which can be traced back to the terrorists. Furthermore, some of the fundraising attempts such as the one conducted by “Jahezona” in 2016 raised only a little more than $500 in Bitcoin. Fanusie also said that managing large cryptocurrency transactions require specific skills, particularly in cybersecurity, which the […]