The specter of Chinese data collection on U.S. citizens hung over Capitol Hill in a pair of hearings as lawmakers asked whether an open internet can survive challenges such as Beijing hacking and TikTok. An executive for the short-form video app made a rare appearance before a Senate committee.
The U.S. government accused Iran of turning a blind eye to ransomware hackers after indicting three men affiliated with the Islamic Revolutionary Guard Corps. Authorities say their attacks affected critical infrastructure including healthcare centers, transportation services and utility providers.
Ransomware-wielding criminals feel the need for speed as they seek to take down victims more quickly and quietly. Cue the use of intermittent, or partial, encryption to speed up attacks. It scrambles files partially but enough to make them unusable.
Japanese conglomerate Hitachi has sold its small identity-as-a-service practice to Canadian software specialist Volaris Group to drive better execution around core products. The firm found it was easy to get lost within Hitachi given the conglomerate's size and focus on electronics and engineering.
Twitter security exec-turned-whistleblower Peiter Zatko today listed alleged security and privacy shortcomings of the social media company for a Senate panel. "It's not farfetched to say that an employee inside the company could take over the accounts of all of the senators in this room," he said.
Iran is again implicated in a cyberattack against Albania, this time on a border-crossing system. Albanian government officials acknowledged the attack on Saturday, just days after the country broke off relations with Tehran in a rebuke for launching an assault on Albania's e-government portal.
After an international law enforcement operation shuttered stolen data forum RaidForums in February, one of its power users launched a replacement called Breached. Within months, the English-language forum has amassed more stolen records and nearly as many users as its predecessor.
The Lazarus Group, a North Korean advanced persistent threat gang, recently targeted energy companies in Canada, the U.S. and Japan to establish long-term access into victim networks to conduct espionage operations by deploying custom-built malware implants VSingle, YamaBot and MagicRAT.
A thief stole $1.25 million worth of cryptocurrency from DeFi protocol New Free DAO in a flash loan attack and so far has cashed out nearly half of the funds. The attack resulted in a sharp drop in the platform's native token $NFD, whose value slumped more than 99% day-on-day on Thursday.
The United States hit Iran with a new round of sanctions after linking Tehran with the July cyberattack against Albania. The sanctions are more symbolic than material in effect but send a message that hacking U.S. allies has consequences.
In the latest weekly update, Ari Redbord, head of legal and government affairs at TRM Labs, joins ISMG editors to discuss how extremist groups could circumvent sanctions and fund terrorism through NFTs, the limitations of digital assets regulations, and new U.K. rules for crypto exchange reporting.
Banking regulators are looking for ways to tackle authorized payment scams, such as spreading the risk to other banks. In a new report on how eight countries are handling this fraud, researcher Ken Palla advises banks to focus on reimbursing victims and preventing the theft.
The only surprising aspect of the ransomware attack against Los Angeles Unified School District is that it didn’t happen sooner. The district was warned of cybersecurity weaknesses in the 20 months leading up to its ransomware attack. The Vice Society gang has claimed credit.
The latest ISMG Security Report discusses a new phishing-as-a-service toolkit designed to bypass multifactor authentication, the decision by Lloyd's of London to exclude nation-state attacks from cyber insurance policies, and challenges at Okta after it acquired customer identity giant Auth0.
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