Exact figures on how much it is costing British firms vary but recent research from the UK government found that eight out of ten large companies had suffered a breach and most were seeing attacks on at least once a month.But nowadays it is increasingly attracting professional criminals.They can make good money from cybercrime and the risk of getting caught is low.Even if they do get caught the punishments are far less arduous than if you get caught robbing an actual bank or dealing drugs.The huge growth of Bitcoin and other alternative currencies have also made it much easier for the crooks to get paid.The traditional way of protecting a business against cyber-attack was to protect the perimeter.
It s no surprise to anyone that emails and social media accounts are hacked every single day.And if you cast your mind back to 2012, you might remember how millions of LinkedIn users were left vulnerable after it emerged that a Russian hacker was offloading over 6 million of their login details online.Well, he/she is back and this time there are 117 million email and passwords belonging to LinkedIn users up for grabs on an illegal Dark Web marketplace called The Real Deal for 5 bitcoin $2,200 approximately .Under the nickname Peace, the hacker has spoken to Motherboard and confirmed these logins come from the 2012 breach – proving that LinkedIn did not make it known just how widespread the hack was at the time.The hacker added that while the majority of the passwords are encrypted or hashed with the SHA1 algorithm, over 90 percent have already been cracked.While you might not have your bank details saved to your LinkedIn profile, the information that could be pulled from your account is still extremely private and could potentially allow someone to steal your identity.
blockchain technology bitcoin NasdaqStealthy post-trade and settlement blockchain builder RISE Financial Technologies RISE , has developed a "secret sauce" to solve the privacy problem, something of a stumbling block for financials using distributed ledgers.With this in mind, privacy of data is emerging as the sine qua non for permissioned blockchain models to function in the future.There is a lot of work being done in this area and a lot of candidate technologies being tests: ring signatures, homomorphic encryption, zero knowledge proof, use-once addresses etc.He said RISE is preparing a paper on this and more would be forthcoming, reiterating an ultimate commitment to open source.He also admitted that in some cases there are trade-offs between scalability and performance regarding certain privacy solutions.In mid 2015, RISE engaged economics consultancy Oxera to explore regulatory and economic aspects of a distributed post-trade environment.
A hacker claims to have captured account information of millions of LinkedIn users and is selling it online.According to MotherBoard, the data is being sold on the dark web illegal marketplace The Real Deal for 5 bitcoin, worth around $2,200, by a hacker using the name 'Peace'.The social network said that it was taking "immediate steps to invalidate the passwords of the accounts impacted" and added that members who had been affected would be contacted and asked to reset their passwords.The main dangers of a breach like this are not so much the data stored in LinkedIn accounts, mostly generic employment information, but the associated data."The most valuable data in the LinkedIn compromise may not be the passwords at all, but the enormous registry of email addresses connected to working professionals," said Tod Beardsley, Security Research Manager at Rapid7."For several years, we have hashed and salted every password in our database, and we have offered protection tools such as email challenges and dual factor authentication," LinkedIn wrote in the post on the site.
The details were apparently taken when LinkedIn was hacked four years agoA hacker claiming to have more than one hundred million LinkedIn logins is advertising them for sale online.The extensive list of user IDs and passwords were allegedly sourced from a cyber attack on the networking site four years ago.According to news site Motherboard, a hacker calling himself "Peace" has placed the alleged details of 117 million LinkedIn users on "dark web" marketplace The Real Deal for the price of 5 Bitcoin - the digital currency - worth around £1,500.In the wake of the 2012 breach, only around 6.5 million details were posted online - but LinkedIn's chief information security officer Cory Scott said he does not believe the extra data was gained as the result of a new security breach."In 2012, LinkedIn was the victim of an unauthorised access and disclosure of some members' passwords," he said."We are taking immediate steps to invalidate the passwords of the accounts impacted, and we will contact those members to reset their passwords," he said.
Vigilante hacker considering much bigger cyberheist to make more donations to RojavaRebels in Syria fighting the Islamic State Isis appear to have a mysterious benefactor.A hacker going by the name of "Phineas Fisher" aka "Hack Back", who claimed responsibility for the breaches against the Hacking Team and Gamma Group claims to have donated $11,000 £8,000 stolen bitcoins to Rojava – a Kurdish region in northern Syria, located at the borders of IS Daesh controlled territory.The money was donated to a crowdfunding campaign called the Rojava Plan, which has been set up by the members of Rojava's economic committee and has been described by Fisher as "one of the most inspiring revolutionary projects in the world."@GammaGroupPR May 5, 2016Rojava, which has been cut off from foreign imports and trade due to the ongoing conflict with IS, has reportedly been at war to establish an independent Kurdish homeland.However, according to a report by the New York Times, Rojava, which is believed to be a haven for the Kurdistan Workers' Party PKK – a group designated as a terrorist organisation by the US State Department – has found to have stark differences in ideology with IS, including following a constitution that decrees religious freedom and gender equality."We are part of the economic committee and do civil projects not military ones," said Rojava Plan's Deniz Tarî.
The author or authors of the TeslaCrypt malware have apologised for their actions, releasing a master key to decrypt any files held hostage by the software.The author of the TeslaCrypt ransomware package has apparently given up on the software, releasing a master key which allows anyone affected to decrypt their files for free.First spotted by researchers at anti-virus specialist ESET and publicised by Bleeping Computer, the announcement came from the party or parties behind the TeslaCrypt malware - the latest in a chain of ransomware packages which silently encrypt the user's files before demanding payment in Bitcoin for the decryption key - that the platform which drives it was being shut down.Contacted via the support chat feature of the payment site - because, say what you will about ransomware authors, they like to make it as easy as possible for you to pay up - by ESET enquiring about the release of a master decryption key, those behind TeslaCrypt did just that.The anonymous author also claimed that 'we are sorry,' presumably for the effects the widespread malware has had - though there was no sign that refunds would be offered to anyone who had already paid up for their personal decryption key, unsurprisingly.Those affected by TeslaCrypt, which spread far and wide via popular mainstream websites after being uploaded to a compromised advertising network, are advised to download a free decryption tool; the Bleeping Computer post has instructions for using one from researcher BloodDolly, while ESET has its own tool.
On his blog, and subsequently explained in interviews with The Economist, BBC and GQ, the Australian entrepreneur, signed a message with the private key for the address of the miner of "block 9".Bitcoin earned with Block 9 was the first recorded transaction between Satoshi - the pseudonym used to launch Bitcoin - and Hal Finney, a cryptographer and early Bitcoin subscriber.If responsible investment is limited to the process of integrating ESG in investment decision-making then it's probably not relevant.Bitcoin was the currency of choice for Silk Road, a 'darknet market', known for buying and selling illegal drugs, and even weapons.Most importantly, cryptocurrencies are unregulated: Their growth could threaten the role of central banks in setting monetary and exchange rate policy.Follow Brett on twitter: https://twitter.com/Suitpossum.
Yes, there are hacks, ransomware and data leaks in the headlines virtually every day, but it s not usually a case of reporting that the creators of the malicious software are trying to right their wrongs sort of .The creators of malware known as TeslaCrypt unexpectedly handed over the master key so anyone with locked down files can regain access.The malware largely targeted gamers, and relevant files required for popular games.Researchers from security firm ESET, having retrieved the master code along with a single line apology, then made a free decryption tool, so don t reach for that bitcoin wallet to make a payment just now.Of course, this project being closed could just be the result of it no longer being profitable enough to bother with any more, rather than its creators turning over a new leaf.You can dream though, eh.
Blockchain technology, which is best known for powering Bitcoin and other cryptocurrencies, is gaining steam among finance firms because of its potential to streamline processes and increase efficiency.The technology could cut costs by up to $20 billion annually by 2022, according to Santander.That's because blockchain, which operates as a distributed ledger, has the ability to allow multiple parties to transfer and store sensitive information in a space that s secure, permanent, anonymous, and easily accessible.Over 50 major financial institutions are involved with collaborative blockchain startups, have begun researching the technology in-house, or have helped fund startups with products rooted in blockchain.In full, the report:Examines the funding increases that are pouring into blockchainAssesses why blockchain is becoming so popular and what factors are driving up increased research and developmentExplains in full how blockchain technology work and what assets make it valuable and vulnerableIdentifies pain points in the financial industry and profiles how various firms are using blockchain to solve themDemonstrates the challenges to mainstream adoption and their potential solutionsInterested in getting the full report?Did you know...Our BI Intelligence INSIDER Newsletters are currently read by thousands of business professionals first thing every morning.Fortune 1000 companies, startups, digital agencies, investment firms, and media conglomerates rely on these newsletters to keep atop the key trends shaping their digital landscape — whether it is mobile, digital media, e-commerce, payments, or the Internet of Things.Our subscribers consider the INSIDER Newsletters a "daily must-read industry snapshot" and "the edge needed to succeed personally and professionally" — just to pick a few highlights from our recent customer survey.With our full money-back guarantee, we make it easy to find out for yourself how valuable the daily insights are for your business and career.
Bitcoin s contractual language is quite limited, by design.Consider: heavily funded Bitcoin startup Coinbase will soon support Ethereum trading on its rebranded cryptocurrency exchange.People with projects they d like to build for The DAO can submit ideas in the form of a proposal written in plain English accompanied by smart contract code.But if this sounds to you like a poor fit with existing legal and regulatory structures, and/or a disaster waiting to happen, well, you re certainly not alone:To quote Eris COO and attorney Preston Byrne:the plain-English covenants made on funding proposals, the absence of legal certainty as to what THEDAO actually is and the nebulous and ever-shifting nature of THEDAO s membership, will make it very difficult to properly assign ownership in these projects work product.As Bitshares founder and DAO skeptic Dan Larimer puts it:The DAO has tentatively raised $100 million dollars worth of ETH, but so far the investors have taken no real risk.Let s wait for the results, if any — legal and otherwise — to roll in before declaring the DAO revolution underway.
Next week he and his co-founder, 37-year-old Oliver Beddows, will launch their company, Lisk.And Lisk is such an exciting idea that during their 30-day crowdfunding campaign, nearly 4,000 people chipped in a total of $6 million in bitcoin to fund their seed round, Kordek tells Business Insider.Lisk is two things: a new kind of app store, and a a new form of internet money, similar to Bitcoin.Lisk will take a fraction of each financial transaction that takes place.For instance, if a developer builds an app that lets coffee shops sell cups of coffee by subscription, every time a customer uses the app and money changes hands, Lisk takes a tiny fraction of the Lisk coin that changes hands.A new kind of internet coinSecond, Lisk is a new kind of internet money, similar to Bitcoin.Our own network, with our own cryptocurrency, you have to wait 10 seconds," he says.In fact, its crowdfunding campaign sold off the first batch of Lisk coins.Kordek believes that many of the people that invested were less interested in the app store, and just "speculating on" the price of the new coin, he says.It's crazy," Kordek says.Since Crypti was releasing all of its code as open source software, Kordek and Beddows took many parts of the Crypti's code as a basis for Lisk.Its founders said they supported Lisk and would soon be turning the project over to its community of users to use and update as they pleased.Their history caused another odd situation.We thought about creating an office in Berlin but he has a wife and I have family as well, so we decided to stay decentralized in the spirit of our network," Kordek says.The history of Crypti demonstrates that Lisk, as a company, is still a long shot.But this idea that the next generation app store will be built on blockchain, whether by Lisk or someone else, seems increasingly likely.
Blockchain, a vast global platform based on a distributed ledger, establishes the rules — in the form of computations and heavy duty encryption — that enable two or more parties to transact or do business without needing a third party to establish trust.Rather than relying on a bank, government or other intermediary to create trust, the blockchain ensures it through mass collaboration and clever code.Trust is built into the system, which is why we call blockchain the Trust Protocol.Blockchain good, bitcoin badMany people, especially those in the financial services industry, are excited about the potential of blockchain technology, but believe that digital currencies like bitcoin are unfeasible, undesirable or even dangerous.This streamlining could reduce electricity usage too, which is good for the environment.Craig Wright is Satoshi NakamotoEarly this month, Australian entrepreneur Craig Wright claimed to be the pseudonymous creator of bitcoin, Satoshi Nakamoto.
I got to go on a one-day workshop with renowned lecturers who work with some of today's most exciting areas of technology: artificial intelligence, quantum computers, blockkedjeteknik, 3d printers, synthetic biology and virtual reality. Here are some examples, which I had with me: Quantum computers, which have been hot for a wider public since Time Magazine put it on the cover of two years ago, is expected to have a breakthrough in the financial sector. There are huge amounts of data and adequate risk-prone capital to invest in an unlimited global computing power, predicted Andrew Fursman, president and founder of 1Qbit, also referring to Google's breakthrough just before Christmas, when sökjätten told of their quantum computer working 100 million times faster than a standard pC. The high-profile block chain technology behind crypto currencies like Bitcoin, is expected to have a major impact far beyond the financial sector. We all need to be inspired and broaden our horizons sometimes. The boss may even choose to hang on.
Security researchers say that the Russian Cerber ransomware now adds victims' PCs to a botnet sending out DDoS attacks, in addition to hijacking their PCsFor the first time ever, cybersecurity researchers are seeing instances where ransomware is being bundled together with bots in order to turn computers into zombies that can send malicious Distributed Denial of Service DDoS attacks.Ransomware is a type of malware that holds a large collection of data hostage on a victim's computer, including important documents, photos and videos.Once installed, the victim is shown a user interface explaining that the files will be destroyed unless the victim pays a bitcoin ransom to the hackers.The latest incarnations of ransomware come so meticulously coded with strong cryptography that it is difficult to find a way around it, so many companies and victims prefer to pay up rather than lose valuable files, but the international cybersecurity community is constantly developing ways to decrypt malware and generally advises victims not to pay.From Russia with loveThe Cerber ransomware website that pops up once a victim's computer is infectedCerber originates from Russia and even without the DDoS bot, it is pretty terrifying as it comes with a text-to-speech function that will literally read you the demands of the cybercriminal out loud, demanding 1.24 bitcoins $550, £380 in ransom to unlock the files.The only silver lining is that the ransomware variant analysed by Invincea can be easily detected by many top antivirus software, and a scan by VirusTotal shows that 37 out of 57 antivirus programmes were able to block it from being activated.
Yet another hospital has been hit with a ransomware attack.But unlike other recent attacks, the hackers didn t fully keep up their end of the deal after receiving their ransom, only partially restoring access to files and demanding more money to decrypt the remaining data.President Greg Duick, MD says the hospital had a plan for this type of attack, helping minimizing the amount of damage done.Patient information was not endangered and routine operations were not affected, according to Duick.Earlier this year 10 Medstar facilities in the Washington region were targeted by a ransomware attack and was forced to shut down its computer system.A hospital in Los Angeles also had to pay 40 bitcoin about $17,000 after falling victim to a similar attack in February.
MoreA logo of Ping An Insurance is seen outside its building in Shenzhen in this February 5, 2013 file photo.REUTERS/Tyrone Siu/File photoLONDON Reuters - China's second-biggest insurance company, Ping An Group, has become the first Chinese member of a global consortium led by fintech firm R3 that is working on ways blockchain technology can be used in financial markets, the companies said on Tuesday.Ping An joins a group of more than 40 of the world's biggest banks and other financial institutions, such as Barclays and Goldman Sachs, brought together last year by New York-based R3 to work together on using the technology that underpins digital currency bitcoin.Chinese financial firms -- some of the biggest in the world -- had been conspicuous by their absence in the consortium.R3 CEO David Rutter, formerly CEO of electronic trading at ICAP, one of the world's largest interdealer brokers, called the addition of Ping An "an important milestone".The blockchain works as a huge, decentralized ledger of every bitcoin transaction ever made, which is verified and shared by a global network of computers and therefore is virtually tamper-proof.
Based in Dublin, the EMEA Financial Services Blockchain Lab will form part of Deloitte s fintech initiative The Grid , with the company looking to bring around 50 staff on board.The launch and backing of a large entity like Deloitte should help push blockchain, which is the backhaul technology behind online transactions using cryptocurrencies such as Bitcoin, further into the public consciousness.The team will also develop proof-of-concepts into functioning prototypes to create ready to integrate solutions for the firm s financial services clients, and work with leading technology companies that are looking to roll out blockchain-enabled solutions across different countries, giving more businesses access to the technology than ever before.There is significant demand from clients who are looking to use blockchain to speed up payments and transfer clearances, settlements, reconciliations and digital identity, and many other use cases.Last month, the technology received a major show of support from the UK Government after Cabinet Office Minister Matthew Hancock confirmed it was looking in to how the technology could be used to manage and keep track of the distribution of public money, such as grants and student loans.This is despite the Bank of England raising its suspicions about Bitcoin last year, warning that the digital currency could pose a threat to financial stability in the UK should it see widespread adoption.
Ashley Madison is a perfect example of that and many people were shocked at just how many real identities were contained in the data, identities that then caused a great deal of grief for their owners.I'm going to focus on what's readily accessible to the bulk of the population.Also consider how you fill out the following form when you create the account:These attributes won't show up on other sites where the address is used, but they can start to surface in other places.Thing is though, as much as I love Bitcoin (try using it for perfectly legitimate, above board purposes one day just to experience it), the mainstream, above board places you can use it are pretty limited.Not always, mind you; whilst many people have "static" IP addresses (the one IP sticks with them for the life of their time with the ISP), many others are dynamic (the ISP rotates the addresses over time).Here's what I'm seeing as I write this:The primary value proposition of a VPN for me is that it means I can use public wifi while travelling and not worry about my traffic being intercepted by an airport or the hotel.
USPS could use blockchain technology to profit from its position as a trusted third party, says the Postal Inspector General's office.Its latest report suggests that USPS could take advantage of blockchain technology—the operating system behind Bitcoin—to fast-track its emergence in allied businesses that the OIG has been touting to the agency for years.OIG has long been a proponent of retail banking in Post Offices, though such a move would require Congressional approval.USPS already has a big business in money transfers, however, and OIG sees that revenue stream flowing more freely using the peer-to-peer transactional abilities of blockchain.A Postcoin system, says the watchdog agency, could process transactions faster across a global network of 600,000 post offices and keep the money transfer business relevant in a digital wallet age.High-value mailpieces tagged with sensors could create and process transactions, quicken customs clearance, and integrate more smoothly with delivery partners like FedEx.