COMPUTER ATTACK
Binance CFO Kaiser Ng steps down, Justin Yek named new finance chief
The announcement comes just over a week after Binance said hackers stole cryptocurrency in a sophisticated attack that began months earlier with the compromise of several employees' computers.
Binance $6.3 billion heist to prompt closer scrutiny by insurers
Following the $6.3 billion Binance heist, insurers are stepping up their scrutiny of cryptocurrency firms' security measures. During policy renewals, they will inquire about vulnerabilities exposed by the Binance incident. This reassessment could lead to new security prerequisites and an overhaul of risk evaluations. The event underscores the inadequacies of existing insurance solutions in the crypto landscape. Insurers will likely keep a vigilant eye on developments as the sector progresses.
Amagi, Shiprocket post profits; US polls’ impact on IT
Amagi’s Q2 profit surged nearly 30x while Shiprocket swung into the black for the first time. This and more in today’s ETtech Top 5.
Tata Motors PV says CERT-In-flagged app vulnerabilities addressed through updates
The vulnerabilities identified in the iRA 2.0 and iRA.ev applications have been addressed through software updates and enhanced security measures, a Tata Motors Passenger Vehicles spokesperson told.
Abdul El-Sayed: How a Rhodes scholar from Michigan became the state's first Muslim US Senator
Abdul El-Sayed's inspiring journey began in Michigan, shaped by his upbringing as the child of Egyptian immigrants. His dedication to social equity led him to graduate with highest honors from the University of Michigan and earn a Rhodes Scholarship to Oxford. Completing his medical degree at Columbia University fueled his passion for tackling health disparities.
India flags Chinese-linked AI tools in hacking campaign against financial firms
India's cybersecurity agency named the hacking group behind a wave of AI-driven attacks on financial firms and identified its tools, at least two of them linked to China, adding India to a growing list of countries where
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AI sharpens cat-and-mouse hacking battle as companies strengthen defences
From hacked supermarket fridges and a record cryptocurrency theft at Binance to an emergency over flaws in widely used web software, companies worldwide are facing a wave of cyber threats executives say AI is accelerating
SBI-led banking alliance comes together to mount a defence to AI threats
Indian Banks' Association, led by State Bank of India, is developing a strategy for cybersecurity in the AI era. The initiative focuses on improving coordination among banks and facilitating timely information sharing. Increasing digitalization has expanded the potential for cyberattacks, urging immediate measures to mitigate risks.
AI turns cyber threat into boardroom crisis
In India, State Bank of India disclosed that 375,000 customer records had been leaked on the dark web, while vulnerabilities in eMudhra’s digital certificate keys exposed websites to potential attacks.
AI-based cyber threat executing unauthorised fund transfers from banking firms: Cert-In
The Indian Computer Emergency Response Team (Cert-In) has named the incident "Crafty Falcon", which uses publicly available AI tools to execute complete attack chains autonomously at machine speed and generate and refine large numbers of tailored attack scripts in rapid succession.
Central cyber security agency warns banks, NBFCs of AI attacks; I4C reveals how hackers are executing multi-crore frauds
I4C has warned banks, NBFCs and fintech firms about AI-powered cyberattacks that enable hackers to execute fraudulent transactions at machine speed. The agency has flagged multi-crore unauthorised fund transfers, urged financial institutions to strengthen API security and directed them to report cyber incidents to CERT-In and RBI within six hours.
Binance hack exposes limits of crypto exchanges’ emergency shutdown controls
Binance is calling it a “sophisticated, multi-stage campaign” and “not a single isolated breach or a simple phishing incident.”
India’s cooling systems face Europe-style cyber risks, say experts
The concerns follow cyberattacks on supermarket refrigeration systems across Europe, with stores in Sweden, Belgium, Estonia, the Netherlands, Finland and Luxembourg reporting disruptions. Attackers reportedly manipulated refrigeration controls, raising freezer temperatures and switching equipment into defrost mode, forcing stores to discard food stocks. The incidents follow similar attacks on hundreds of supermarkets in France in October.
Binance says North Korean hackers stole $6.34 billion funds in a technical breach
Binance reported a cyberattack attributed to North Korea that compromised $6.34 billion in digital assets. Approximately $2.85 billion of the affected assets have since been frozen or intercepted. The attackers utilized fake job interviews and advanced malware to breach Binance's security systems. Subsequently, the company took steps to replenish the lost assets and mitigate the damage caused.
Fridge hacks and finance attacks flag AI insecurity
The growing use of AI in cyberattacks could pose a major threat to the global economy, financial markets and critical infrastructure, according to a Reuters commentary by Mike Dolan.
Hackers are targeting something the world can't do without: Food
A series of cyberattacks have affected supermarket refrigeration systems in multiple European countries, leading to food spoilage. These attacks, described as deliberate attempts to disrupt the food supply chain, raised concerns among retailers and consumers alike. Various security vulnerabilities in connected refrigerated systems have been exploited, underscoring the need for better cybersecurity measures. No group has claimed responsibility for the attacks; however, state backing is being investigated.
From SBI to Binance, how financial institutions are becoming cyberattack targets
Recent incidents involving cryptocurrency exchange Binance and Indian public sector lender State Bank of India (SBI) have once again put the spotlight on the issue. While Binance reported a security breach involving unauthorised cryptocurrency withdrawals estimated at around $6.3 billion, SBI is investigating a suspected data leak involving nearly 3,900 customer records.
His grandfather died of pancreatic cancer: This Hyderabad startup founder is using AI to develop a personalised cancer vaccines
Hyderabad-based biotech startup PopVax, founded by Soham Sankaran, is developing AI-powered personalised cancer vaccines using mRNA technology. Inspired partly by his family's experience with pancreatic cancer, he aims to help the immune system identify and attack cancer cells using treatments designed around individual patients' tumour genetics.
Binance’s $6.3 billion hack dwarfs Bybit's $ 1.5 billion breach: Is cryptocurrency theft getting bigger?
Binance has recently reported a major security breach impacting approximately $6.3 billion in digital assets. After the hack, the exchange temporarily suspended withdrawals while assessing their security systems. Hackers allegedly linked to North Korea have raised concerns about the effectiveness of security measures in cryptocurrency exchanges. Investigators are working to trace the stolen funds and recover as many assets as possible.
Europe under cyberattack: Who is behind the supermarket fridge hacks? Sweden, Belgium, Luxembourg and Estonia hit as attacks follow the same pattern seen in France
Europe is facing a fresh wave of supermarket cyberattacks, with Sweden, Belgium, Luxembourg and Estonia reporting problems with their refrigerators and freezers. The incidents follow a similar attack in France last month. But investigators have yet to identify who is behind the attacks or whether all cases are connected.
'New Cold War'? Supermarket freezers hacked in six European countries, food worth millions spoiled. Who's behind it?
A wave of cyberattacks has struck supermarket refrigeration systems across several European nations, including Belgium, Sweden, Luxembourg, and Estonia, raising serious food safety alarms. These breaches allowed unauthorized access to cooling units, causing hazardous temperature increases that threaten product integrity. Experts are voicing concerns about the rising risks associated with connected technologies, while investigators work diligently to pinpoint the perpetrators and safeguard against future breaches.
Digital payments firms race to fortify defences as cyberattacks intensify
At Bengaluru-based Cashfree, attempted attacks have been taking place repeatedly over the past three weeks, occurring at least 10 times as frequently as a year ago, chief technology officer Ramkumar Venkatesan told ET. Attackers are increasingly combining multiple vulnerabilities to attack systems, he said.
Wall Street drops to its worst day since June after the sell-off for tech stocks deepens
Wall Street’s tech sell-off deepened on Friday as investors questioned whether massive spending on artificial intelligence will deliver enough returns to justify lofty valuations. The S&P 500 fell 1.8% and the Nasdaq 2.9%, with Intel plunging nearly 29% and Nvidia down 4.2%, while bitcoin also slid after a major hack at Binance.
OpenAI CEO Sam Altman sees AI-led software overhaul amid PHP security concerns
The discussion comes just days after two critical security flaws in PHP were disclosed. PHP is a programming language that runs websites. It works behind the scenes. When a user loads a page, the server running PHP assembles the content and sends the finished page to the browser.
Cyberattacks hit NBFCs; Pine Labs Q2 profit zooms
Cyber criminals are targetting smaller NBFCs with specialised AI toolkits. This and more in today’s ETtech Top 5.
Chinese AI model carries out complex cyberattacks in controlled tests, researchers say
Chinese firm Z.AI's flagship AI model carried out complex cyberattacks in controlled simulations and repeatedly ignored instructions in separate tests, according to a report by AI security research firm Irregular.
Prioritise understanding AI security threats, even before productivity: OpenAI's Sam Altman to cos
"If I could recommend only one thing to a company right now to do with AI in the very short term, even more than become super productive with Codex (OpenAI's AI coding tool), it would be to really understand the security threat landscape from AI and mitigate against that," Altman said.
Anthropic IPO: What 12 AI terms should investors know before buying shares amid $16.3 billion revenue and an $80.7 billion loss?
Anthropic's planned IPO could attract investors who want to benefit from the growth of artificial intelligence. But understanding the company's business will require more than looking at its revenue, losses and expected valuation. Its prospectus also uses technical terms that explain how its AI systems work, how the company trains its models and what risks it faces.
Australia warns of 'unprecedented' AI threat
Artificial intelligence poses an "unprecedented" threat as foreign governments turn it loose to hack computer networks and critical infrastructure, Australia's cyber security agency warned on Tuesday. "This activity extends beyond government networks, and includes critical infrastructure entities, private businesses and individuals."
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