Cryptocurrency Company Nomad Offers Bounties to Combat Hacking

Crypto start-up Nomad is offering 10 percent bounties to retrieve as much as $190 million in digital currency that was seized in a massive hacking attack. Nomad made the announcement in a Twitter post, which included the address to its crypto wallet, and said anyone who returns at least 90 percent of their share of the stolen funds will be considered a “white hat” — hackers who work with companies to probe their networks, in some cases taking payment in exchange for identifying security flaws.

Taiwan's Military Says China Continuing Attacks Against Government Websites

Taiwan’s military accused Beijing of carrying on sustained cyberattacks against the island that rendered key government-run websites inaccessible. Taiwanese Lt. Gen. Lu Chien-chung told a news conference Monday, “the Chinese Communist Party didn’t go easy on the internet,” accusing Beijing of continuing a campaign aimed at crippling key Taiwanese websites.

Treasury Department Blocks Cryptocurrency Platform 'Tornado Cash'

The Treasury Department prohibited Americans from using the cryptocurrency platform Tornado Cash, saying the service has helped criminals launder more than $7 billion of virtual currencies. The crackdown was the U.S. government’s latest effort to rein in the crypto industry, as lawmakers and regulators grow increasingly concerned over the volatility of virtual currencies and their role in facilitating hacking and other crimes.

U.S. Accuses Chinese Cable Manufacturer of Violating Export Controls

The United States accused Far East Cable, China's largest wire and cable manufacturer, of violating U.S. export controls related to shipments to Iran, the Commerce Department said. Far East Cable entered into an agreement in 2013 to buy equipment from Chinese telecomunications equipment maker ZTE Corp. and then contracted with Iranian companies to supply telecommunications equipment and parts, the Commerce Department said in a charging letter.

Twilio Says Hackers Accessed Customer Data in Social Engineering Attack

Communications giant Twilio has confirmed hackers accessed customer data after successfully tricking employees into handing over their corporate login credentials. The San Francisco-based company, which allows users to build voice and SMS capabilities — such as two-factor authentication (2FA) — into applications, said in a blog post that it became aware that someone gained “unauthorized access” to information related to some Twilio customer accounts on August 4.

Google Sues Sonos for Infringing Seven Patents, Including on Voice Input

Google is striking back at Sonos with a pair of lawsuits alleging that the wireless speaker company is infringing on a number of its patents around smart speakers and voice control technology. It’s the latest volley in a back-and-forth battle over wireless speakers that has so far involved multiple lawsuits from Sonos, one lawsuit from Google, and one ruling in favor of Sonos that’s led to features being stripped from Google’s products.

Cyber Attacks on Businesses, Government Sites Spiked as Pelosi Visited Taiwan

As U.S. House of Representatives Speaker Nancy Pelosi made a brief visit to Taiwan that enraged Beijing, the welcome she received from government officials and the public was in sharp contrast with a different sort of message that began popping up elsewhere on the island. The largest 24-hour convenience store chain on the island was the victim of what Taiwanese authorities are calling an unprecedented amount of cyber attacks on government websites belonging to the presidential office, foreign and defense ministries as well as infrastructure such as screens at railway stations, in protest against Pelosi's visit.

Republicans Blame Google's Algorithms for Marking Fundraising Emails as Spam

The National Republican Senatorial Committee, the campaign arm of the Republican caucus, is preparing to escalate its attack on Google over the company’s email spam filter, which it blames for recent fundraising disappointments, according to documents obtained by The Washington Post. A draft letter on NRSC letterhead, and addressed to Google, claims that “Google and its algorithms have handed a distinct advantage to Democrat fundraising efforts, resulting in Republicans raising millions of dollars less than they should be able to.”

Netflix Sues TikTok Stars for Copyright Infringement Over 'Bridgerton' Videos

Netflix filed a lawsuit against two TikTok stars in their early twenties, Abigail Barlow and Emily Bear, alleging that their Grammy-winning “Unofficial Bridgerton Musical” project infringed on the copyright of Netflix‘s original series “Bridgerton.” Early last year, the songwriting duo started penning impressive ballads about the popular Netflix show for fun, posting them on TikTok.

New York Fines Robinhood $30 Million for Laundering, Cybersecurity Violations

In the latest in what seems to be a string of challenges the company has to grapple with, Robinhood's crypto division has been slapped with a $30 million fine by the New York State Department of Financial Services. It's the first crypto-focused enforcement action by the regulator, which has issued the multimillion dollar penalty against Robinhood for what it says are violations against the state's anti-money laundering and cybersecurity regulations.

Attack on Solana Reportedly Affects 8,000 Wallets, $8 Million in Cryptocurrency

Solana, an increasingly popular blockchain known for its speedy transactions, has become the target of the crypto sphere’s latest hack after users reported that funds have been drained from Internet-connected “hot” wallets. An unknown actor drained funds from 7,767 wallets on the Solana network, and blockchain security firm SlowMist’s crypto tracker identified that more than 8,000 wallets had been drained — an estimated loss so far of around $8 million.

Meta Asks Judge to Force Snap to Provide Data for Antitrust Lawsuit

Meta Platforms Inc. is asking a judge to force Snap Inc. to hand over data it says is needed to help the Facebook owner defend against a U.S. government antitrust lawsuit. In a filing with a federal court in California, Meta said Snap should turn over information it says can help refute the Federal Trade Commission’s contention that it has a monopoly in “personal social networking services.”

Taiwan's Presidential Office Suffers Cyberattack as Pelosi Visits

Taiwan’s presidential office was hit with a cyberattack, the same day that House Speaker Nancy Pelosi (D-Calif.) visited the island amid warnings and opposition from China. A spokesperson for Taiwanese President Tsai Ing-wen said in a Facebook post that the attack happened around 5:15 p.m. local time, causing 200 times more than normal weekday website traffic.

Man Found Guilty of Hacking into T-Mobile Systems to Unlock Cell Phones

A California man has been found guilty of hacking into T-Mobile systems to unlock cell phones from the mobile carrier, which he turned into a multi-million-dollar business. According to prosecutors, Argishti Khudaverdyan used the unauthorized T-Mobile access to rake in $25 million in illegal proceeds from customers looking for ways to unlock their phones.

Human Rights Activists, Journalists Urge Action Against Commercial Spyware

Government and the tech industry must work together to protect U.S. citizens from being targeted with commercial spyware like Pegasus, which last year was revealed to have infected the iPhones of numerous government officials, human rights activists, journalists and others, experts told the US House Intelligence Committee. In the rare open hearing, the committee heard testimony from John Scott-Railton, senior researcher for Citizen Lab, the University of Toronto-based research group that first discovered the spyware; Shane Huntley, director of Google's threat analysis group; and Carine Kanimba, an activist whose phone was targeted with the Pegasus spyware.

  • Read the article: CNET

House, Senate Approve Bills to Subsidize Domestic Semiconductor Industry

The U.S. House of Representatives passed sweeping legislation to subsidize the domestic semiconductor industry as it competes with Chinese and other foreign manufacturers, a victory for President Joe Biden and his fellow Democrats hoping to keep their slim majority in Congress in November midterm elections. The Senate passed the "Chips and Science" act with bipartisan support, after more than a year of effort.

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