cybercrime
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More funding for AI cybersecurity: Darktrace raises $75M at an $825M valuation
With cybercrime projected to reap some $6 trillion in damages by 2021, and businesses likely to invest around $1 trillion over the next five years to try to mitigate that, we’re seeing a rise of startups that are building innovative ways to combat malicious hackers. In the latest development, Darktrace — a cybersecurity firm that uses machine learning to detect and stop… Read More
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After WannaCry, ex-NSA director defends agencies holding exploits
General Keith Alexander has warned there will be more ransomware attacks this year, and urged industry to work with government to try to defend against global cyber threats. Read More
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Report: Hackers ‘aligned’ with Vietnam government attacked international firms and media
A hacker group “aligned with Vietnamese government interests” carried out attacks on corporate companies, journalists and overseas governments over the past three years, according to a report from cyber security firm FireEye. FireEye, which works with large companies to secure their assets from cyber threats, said it has tracked at least 10 separate attacks from the group… Read More
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Companies, governments brace for a second round of cyberattacks in WannaCry’s wake
As the world readies to open for business on Monday, companies and governments are bracing for a second round of cyberattacks in the aftermath of Friday’s WannaCry hack. Indeed, security experts are already warning that a new version of WannaCry has emerged over the weekend that doesn’t have the kill switch protocol that stopped the initial version of the cyberattack late on… Read More
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Microsoft calls for establishment of a digital Geneva Convention
As the public grows more concerned with state-sponsored hacking, Microsoft is calling on tech companies to form a so-called “Digital Geneva Convention” by promising to protect users from nation-state attacks and vowing to never mount offensive cyber attacks. Microsoft is also pushing governments around the world to establish norms for engagement in digital warfare. Microsoft… Read More
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Researchers simulate a ransomware attack on industrial controls
Researchers at the Georgia Institute of Technology have created a form of ransomware that can hit us where it really counts: the water supply. Their program installed itself in a model water plant and allowed the researchers to change chlorine levels, shut down water valves, and send false readings to monitoring systems. “We are expecting ransomware to go one step farther, beyond the… Read More
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Snap sees risks in Brexit, hacking and China’s Great Firewall
Snapchat, which filed for its initial public offering today, sees potential risks to its business in cybersecurity and international regulation, particularly in China and the European Union. Security breaches — and the privacy concerns that follow — have already caused problems for Snapchat, according to its filing. The document refers to a CEO impersonation scam that occurred… Read More
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Ransomware completely shuts down Ohio town government
In another interesting example of what happens when you don’t manage your backups correctly, the Licking County government offices, including the police force, have been shut down by ransomware. Although details are sparse, it’s clear that someone in the office caught a bug in a phishing scam or by downloading it and now their servers are locked up. Wrote Kent Mallett of the… Read More
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UK spy agency-backed cyber security incubator picks first seven startups
A GCHQ-backed startup incubator has opened its doors in the UK, announcing its first cohort of seven startups participating in the three month accelerator program (see below for the list of teams). Read More
Latest Crunch Report
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Russian hacking team The Dukes targeting NGOs and think tanks after Trump victory
According to Internet security team Volexity has detected an active spear-phishing effort by Russian hacker groups including Cozy Bear and the Dukes. The targeted phishing emails feature subject lines like “The “Shocking” Truth About Election Rigging” and a false “FYI” from the Clinton Foundation. You can read about the efforts on Volexity’s own site… Read More
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China’s new cybersecurity law is bad news for business
The regulation would require instant messaging services and other internet companies to require users to register with their real names and personal information, and to censor content that is “prohibited.” Real name policies restrict anonymity and can encourage self-censorship for online communication. Read More
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Researchers sabotage 3D printer files to destroy a drone
Researchers at Ben-Gurion University of the Negev (BGU), the University of South Alabama, and Singapore University of Technology and Design have successfully injected malicious code into a computer which, in turn, added invisible commands to a file containing a 3D model of a drone propeller. When they printed the model and attached it to the drone, the propeller broke upon take-off. This… Read More
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UK’s new cyber security centre to debunk scare tactics and lead by example
The UK government has had enough of clichéd cyber dementor imagery, scary-sounding industry rhetoric and impossible security advice that the average consumer has no hope of following. Read More
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Crunch Network
As compliance pressure mounts, businesses turn to regulatory technology
More than seven years after the financial crisis began, economies worldwide are growing. Much of the recovery has been led by government spending, including massive sums on infrastructure projects, which typically involve interaction between governments and local partners, especially in emerging markets. While that has helped those economies grow, it has also driven worldwide growth in compliance. Read More
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U.S. officially attributes DNC hack to Russia
The Department of Homeland Security and the Office of the Director of National Intelligence confirmed today what cybersecurity companies have asserted since emails from Democratic National Committee employees leaked online over the summer: State-sponsored Russian hackers are responsible for the breach. “The U.S. Intelligence Community is confident that the Russian government directed… Read More
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UK’s national cyber security unit working on automated defenses
Giving his first public speech as CEO of the NCSC, at the Billington Cyber Security Summit in Washington today, Ciaran Martin warned that far too many unsophisticated cyber attacks are succeeding, going on to discuss the government’s new more pro-active cyber security strategy. Read More
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Europe agrees cyber threat strategy, plans to help fund more startups
The European Parliament has voted to adopt a set of measures aimed at bolstering resilience to digital threats and improving cybersecurity cooperation and info sharing across its 28 Member States. Read More
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Crunch Network
The gaming industry can become the next big target of cybercrime
Video-game-related crime is almost as old as the industry itself. But while illegal copies and pirated versions of games were the previous dominant form of illicit activities, recent developments and trends in online gaming platforms have created new possibilities for cybercriminals to swindle huge amounts of money from an industry that is worth nearly $100 billion. And what’s worrisome… Read More
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Crunch Network
Inside the Starburst-sized box that could save the Internet
Cybercrime is costing us millions. Hacks drain the average American firm of $15.4 million per year, and, in the resulting panic, companies often spend more than $1.9 million to resolve a single attack. It’s time to face facts: Our defenses aren’t strong enough to keep the hackers out. But there is hope. Read More
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Crunch Network
Process as code: Security ops orchestration for a brave new world
Cybercrime is an enormous problem — a nemesis of the federal government, America’s biggest corporations and tens of millions of individuals. But there is now legitimate hope that a big piece of the cybercrime problem can eventually be solved. Read More
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