DIGITAL SECURITY VULNERABILITIES
Companies need to overhaul cybersecurity as AI accelerates vulnerability attacks: Report
Companies will need to fundamentally overhaul their cybersecurity strategies and increase investments in automated threat detection and vulnerability management as frontier artificial intelligence (AI) makes it easier for cyberattackers to identify and exploit software weaknesses, according to a McKinsey report.
Nifty soars 11% in 10 days, but why is your portfolio not moving up?
Nifty surged 10.75% in 10 sessions, crossing 25,000, but gains remained concentrated in large-cap stocks. Foreign investor inflows boosted heavyweight shares, while midcap, smallcap and microcap indices continued declining, disappointing retail investors.
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.
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.
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.
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eMudhra says TLS certificate security incident impacted 1% of revenue
eMudhra Ltd experienced a certificate security incident in October that impacted its TLS business revenue significantly. Following the incident, the company revoked the affected intermediary certificates to prevent further issues. Executive Chairman V. Srinivasan confirmed that no end-entity certificates were issued, maintaining the integrity of the infrastructure. KPMG was appointed as an independent external reviewer to investigate the incident thoroughly.
Digital recruitment is creating a new cybersecurity risk for employers
Online hiring has made it easier for companies to reach candidates across locations, but it has also exposed recruitment processes to identity fraud, manipulated assessments and misuse of personal information. HR teams are increasingly responsible for protecting the integrity and security of the hiring process.
Rising crude prices could push India's inflation by upto 1 percentage point, diversified imports helping secure oil supplies: EY's Gaurav Moda
Gaurav Moda, Partner and Energy Industry Leader at EY India said the increase in crude oil prices from an average of $60-65 per barrel to $90-95 has significantly raised India's energy import costs, even as the country continues to prioritise securing supplies amid geopolitical uncertainties.
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.
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.
"We have power to bring about the change we need": Barack, Michelle Obama issue final appeal ahead of US midterm elections
Barack Obama and Michelle Obama encouraged citizens to participate in the upcoming midterm elections to influence the country's future direction. They emphasised the importance of voting and community engagement, urging individuals to help those around them make a voting plan. Americans are casting ballots to determine control of Congress and the future of President Donald Trump's administration. Polling indicates potential challenges for the Republican Party in these elections.
Govt mulls giving Cert-In enforceable powers to mandate patching
Last month, two critical flaws in the PHP programming language, discovered with the help of AI, created worldwide panic as hackers targeted the vulnerabilities millions of times, and led to governments including the US, UK, France, Germany and Japan taking down public websites. PHP powers 69.3% of websites worldwide.
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.
Diwali 2026: 77 stocks knock down D-St bears to deliver multibagger returns of up to 4,700% in a year
With Diwali 2026 on the horizon, 77 stocks have thrived despite market fluctuations, marking exceptional returns. Mrugesh Trading showcases an astonishing gain of 4,657%, while Axis Solution follows closely with 1,081%. Other strong performers are Sterlite Technologies and Cupid, each demonstrating impressive growth. Analysts are hopeful for a market rebound thanks to falling crude oil prices, which could positively impact sectors such as automotive, capital goods, and pharmaceuticals.
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.
Crypto exchanges call for quick moves to bolster defenses after Binance heist
Crypto exchanges are strengthening defenses and promoting information-sharing after Binance's major $6.3 billion hack. Coinbase adjusted its systems for storing cryptocurrency keys while Kraken monitored incidents to enhance security. Analysts noted that the attack, linked to North Korea, revealed vulnerabilities within the crypto industry. Companies are planning more employee training to combat social engineering tactics used in such hacks.
Largescale cyberattacks test the limits of insurance cover
While businesses rush to enhance their cyber insurance cover, the incidents have triggered a debate over whether existing policies adequately cover emerging cyber risks. The biggest question insurers are policyholders seem to be confronting is: who pays when a vulnerability exposes thousands of organisations to the same threat?
Global Market: Binance breach rekindles fears over cryptocurrency security
A reported $6.3 billion breach at Binance, described as the largest crypto heist on record, has renewed concerns about digital-asset security. Binance has located about $3 billion in affected assets and pledged to cover losses. The incident joins major attacks on Bybit, Ronin Network, Wormhole and other platforms, highlighting persistent vulnerabilities across exchanges, wallets, blockchain bridges and DeFi services.
From $1.46 billion in Ether being stolen to hackers returning money: Here’s a look at some of the largest crypto heists as Binance hit with largest in history
Binance has reported a significant hack that resulted in $6.3 billion being compromised. The company froze nearly $3 billion and promises to cover all losses incurred. Investigations indicate that a North Korean hacking group might be responsible for this breach. Additionally, other notable hacks in the cryptocurrency sector highlight ongoing vulnerabilities and the challenges faced by exchanges.
Who guards India’s digital gatekeepers?
India has built effective digital systems that facilitate money transfer and identity verification across its diverse population. However, there are ongoing challenges regarding accountability and transparency in government digital platforms. Many argue that mechanisms like competition law may not be suitable for all government services.
PHP scare sparks calls for urgent corp DPDP audits to plug all gaps
The incidents underline the need to identify gaps in companies’ security practices and clarify what constitutes reasonable safeguards before the law takes effect, they said. The DPDP Act is being implemented in phases, with a May 2027 deadline for full compliance obligations.
Regional rural banks to set up cybersecurity centres, develop threat intel
Regional rural banks are set to improve their cyber security through the establishment of cyber security operations centres. They will also develop capabilities for vulnerability assessments and incident response as part of the reform agenda. The Financial Stability and Development Council plans to enhance cyber security measures following previous ransomware attacks. New initiatives will include implementing enterprise data warehouse solutions for better data management and reporting.
Cert-In and states rush to patch PHP flaws across govt portals
Last week, two critical cybersecurity flaws in the PHP programming language were discovered with the help of AI. Subsequently, Cert-In issued advised organisations to apply security patches. Thousands of state government portals, district administration websites, municipal corporation services, and public grievance redressal systems in India have historically relied on content management systems and frameworks based on the PHP programming language.
Prevention CERT-Inly better than cure
India is responding to cybersecurity challenges posed by the recent eMudhra incident and PHP vulnerabilities. Government agencies are conducting audits and investigations to strengthen digital security. The country is experiencing heightened cybersecurity risks due to its digital transformation and existing framework gaps. There are also concerns about unutilized funds and a shortage of cybersecurity talent. A broader approach is needed for transformative improvements in managing cybersecurity effectively.
PM Modi to inaugurate RBI's data centre in Bhubaneswar
Prime Minister Narendra Modi is set to inaugurate the Reserve Bank of India's state-of-the-art data centre and Cybersecurity Training Institute on Sunday. This initiative aims to bolster Odisha’s digital framework and elevate national financial security. Situated in Jatni, the facility is designed to support crucial payment and settlement operations. With 2,100 police personnel and traffic regulations in place, this visit marks Modi's ninth trip to Odisha since 2024.
What to know about the AI-detected security bug impacting wide swaths of the internet
PHP is a widely used general-purpose scripting language that is geared toward web development, and thus, it powers the majority of websites around the world. When the organization behind the language and the FBI's cyber division warned Wednesday of significant vulnerabilities in the language, government agencies, corporations and other organizations were sent into a flurry.
PHP security vulnerabilities: Indian govt rushes to fix official websites, banks audit apps
Banks have begun auditing applications for weaknesses, taking some non-critical services offline and preparing backups to divert traffic if parts of their websites or mobile applications experience downtime, according to executives.
eMudhra to exit global SSL/TLS certificate business after controversy
Digital trust services provider eMudhra on Thursday said that it would voluntarily withdraw from the global SSL/TLS certificate business, following an incident where its certificates were found to have vulnerabilities.
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