A 25-year-old man from Alabama has been arrested for hacking the US Securities and Exchange Commission’s X account in a scheme to manipulate Bitcoin prices. The incident, which occurred in January, involved a false post on the SEC’s account claiming the approval of Bitcoin exchange-traded funds, briefly causing Bitcoin’s price to rise by $1,000. The SEC swiftly deleted the post and denied the message, but the hack sparked criticism over security vulnerabilities on X.
The suspect, Eric Council Jr., used a SIM-swapping technique to access the account and later received Bitcoin as payment for his involvement in the hack. Following the incident, he reportedly searched online for information on how to avoid FBI detection. Council now faces charges of conspiracy to commit aggravated identity theft and access device fraud.
The SEC expressed its gratitude to law enforcement for their prompt action in the case, while the incident reignited concerns over the security of social media platforms, particularly since X’s acquisition by Elon Musk.
A recent Microsoft report claims that Russia, China, and Iran are increasingly collaborating with cybercriminals to conduct cyber espionage and hacking operations. This partnership blurs the lines between state-directed activities and the illicit financial pursuits typical of criminal networks. National security experts emphasise that this collaboration allows governments to amplify their cyber capabilities without incurring additional costs while offering criminals new profit avenues and the security of government protection.
The report, which analyses cyber threats from July 2023 to June 2024, highlights the significant increase in cyber incidents, with Microsoft reporting over 600 million attacks daily. Russia has focused its efforts primarily on Ukraine, attempting to infiltrate military and governmental systems while spreading disinformation to weaken international support. Meanwhile, as the US election approaches, both Russia and Iran are expected to intensify their cyber operations aimed at American voters.
Despite allegations, countries like China, Russia, and Iran have denied collaborating with cybercriminals. China’s embassy in Washington dismissed these claims as unfounded, asserting that the country actively opposes cyberattacks. Efforts to combat foreign disinformation are increasing, yet the fluid nature of the internet complicates these initiatives, as demonstrated by the rapid resurgence of websites previously seized by US authorities.
Overall, the evolving landscape of cyber threats underscores the growing interdependence between state actors and cybercriminals, posing significant risks to national security and public trust.
Intesa Sanpaolo has confirmed it alerted Italy’s data protection authority regarding a data breach caused by one of its employees after carrying out detailed investigations into the incident. The bank explained that the notification was made only after conducting careful checks on the events surrounding the violation.
Despite media reports, Intesa has not yet received any formal communication from prosecutors. News agency ANSA previously reported that both the bank and its employee are being investigated following the data breach.
The breach, which is said to have affected thousands of customers, includes the personal data of high-profile individuals such as Prime Minister Giorgia Meloni. The investigation has raised concerns about data security at one of Italy‘s largest financial institutions.
As the situation develops, the bank faces increasing scrutiny over its handling of the breach, with both authorities and the public awaiting further details on the investigation.
The UK government prioritises adopting innovative technologies through its draft industrial strategy, ‘Invest 2035.’ The comprehensive plan aims to accelerate the integration and scaling of new technologies across eight key growth sectors, including cybersecurity solutions and ensuring that all emerging technologies are secure by design.
To support this technological advancement, the strategy focuses on strengthening cyber resilience by enhancing supply chain resilience to mitigate vulnerabilities that could impede long-term growth. Implementing strengthened cyber resilience measures is essential for safeguarding growth-driving sectors against potential digital threats, thereby reinforcing the overall security of the economy.
Additionally, a crucial element of the strategy is the investment in skills and workforce development, as the UK government acknowledges the need to prepare the workforce for future challenges through substantial investments in skills and training. Promoting cybersecurity education is vital, empowering individuals and organisations to protect themselves better and leverage technological advancements.
Furthermore, the draft strategy emphasises public consultation and stakeholder engagement, inviting input from businesses, experts, unions, and other stakeholders to refine the plan before its final publication in spring 2025. The government also highlights the importance of collaboration between itself and the cyber industry, as these partnerships are essential for addressing existing challenges, such as the skills gap and outdated cyber laws. Ultimately, this strategy aims to support the growth of a secure and resilient economy, fostering an environment where organisations can thrive safely in an increasingly digital world.
Star Health, India‘s largest health insurer, has revealed it received a $68,000 ransom demand following a data breach that exposed customer details, including medical records. The cyberhacker used Telegram chatbots and a website to leak sensitive information, leading to significant reputational damage and a drop in the company’s stock value.
The hacker, who made the ransom demand in August, sent the request to Star Health’s managing director and CEO. While the company has launched an internal investigation, it also faces allegations that its chief security officer was involved in the data leak, although no evidence of wrongdoing has been found so far.
Star Health has taken legal action against both the hacker and Telegram, which has not permanently banned the accounts linked to the hacker. The company has sought help from Indian cybersecurity authorities to identify the individual behind the attack.
Telegram has not responded to requests for comment but previously removed the chatbots linked to the hack after Reuters brought them to its attention. The investigation continues as Star Health works to contain the damage from the breach.
Donald Trump‘s presidential campaign has strengthened its cybersecurity measures by acquiring secure mobile phones and laptops after facing Iranian cyberattacks and assassination threats. The campaign partnered with Green Hills Software, a California-based company known for its secure operating systems used by various US agencies. The customised phones are designed for basic functions like calls and texts, featuring advanced security protocols such as end-to-end encryption and two-factor authentication.
Green Hills Software CEO Dan O’Dowd, who initiated contact with the campaign, stressed the importance of safeguarding the democratic process. Though the campaign has not made any public statements, insiders revealed that security devices have recently been upgraded. This decision comes after the Iranian hacking group APT42 infiltrated the campaign’s internal communications during a recent cyber espionage operation.
The newly acquired devices create a secure communication network, allowing only those using the same system to connect. The campaign also invested in secure laptops designed to operate in an isolated environment, following the same security principles as the phones. Green Hills Software’s technology is already trusted by US military branches and FBI field offices to maintain secure communications and protect sensitive data.
The Internet Archive, a prominent online repository of web pages, faced significant disruptions on Thursday after a major cyberattack that exposed user data. Brewster Kahle, the organisation’s founder, reported a series of distributed denial-of-service (DDoS) attacks that began earlier in the week, leading to the defacement of its website and the breach of usernames, emails, and passwords for millions of users. Although the data has not been corrupted, the attack has raised concerns about cybersecurity vulnerabilities, especially with the upcoming US presidential election on November 5.
The hackers, a group claiming to be pro-Palestinian called ‘SN_BLACKMETA,’ targeted the Internet Archive, accusing it of being connected to US government support for Israel. They reportedly posted a defacing message on the site, which informed users that 31 million accounts had been breached. The site ‘Have I Been Pwned’ later confirmed the stolen records, adding credibility to the hackers’ claims.
Brewster Kahle, founder of the Internet Archive, announced that the organisation is actively working to restore services and strengthen security measures following a major cyberattack. Established in 1996, the nonprofit is renowned for its Wayback Machine, which archives web pages and serves as a critical resource for researchers and journalists. This incident underscores the increasing risks of cyberattacks, particularly for organisations dedicated to preserving information and fostering an open internet.
OpenAI reports cybercriminals are increasingly using its AI models to generate fake content aimed at influencing elections. The startup has neutralised over 20 attempts this year, including accounts producing articles on the US elections. Several accounts from Rwanda were banned in July for similar activities related to elections in that country.
The company confirmed that none of these attempts succeeded in generating viral engagement or reaching sustainable audiences. However, the use of AI in election interference remains a growing concern, especially as the US approaches its presidential elections. The US Department of Homeland Security also warns of foreign nations attempting to spread misinformation using AI tools.
As OpenAI strengthens its global position, the rise in election manipulation efforts underscores the critical need for heightened vigilance. The company recently completed a $6.6 billion funding round, further securing its status as one of the most valuable private firms.
ChatGPT continues to see rapid growth, boasting 250 million weekly active users since launching in November 2022, emphasising the platform’s widespread influence.
A recent Microsoft support scam nearly cost a Washington DC couple $14,000 after they lost access to their email. Searching Google for help, they unknowingly called a scammer posing as a legitimate technician. The scammer claimed there was suspicious activity on their account and used scare tactics to convince them to give remote access to their computer.
The situation escalated when the scammer claimed a crooked bank employee was involved in leaking information. He suggested setting up a sting operation to catch the suspect. The couple, sensing something was off, cut off contact before any financial loss occurred.
Fake Microsoft support pages often appear in search results, luring users into thinking they’re contacting real customer service. Scammers then use panic-inducing language to access sensitive information. Victims like Bob unknowingly grant access, putting personal and financial data at risk.
To avoid falling victim to such scams, users should rely only on official Microsoft contact details. Verifying sources, installing strong antivirus software, and recognising red flags can prevent these sophisticated attacks.
Zoom plans to roll out custom AI avatars by 2025, offering users a photorealistic digital clone that can replicate head and arm movements. Users will be able to script what their avatar says, with audio synced to lip movements, making it a potential game-changer for asynchronous workplace communication.
The company sees these avatars as a time-saving tool, particularly for those needing to scale video content creation. Despite the promising benefits, questions remain about how Zoom will prevent misuse of this technology, particularly in light of growing concerns around deepfakes. Many fear these digital avatars could be used maliciously to impersonate others or spread disinformation.
Zoom has announced some safety measures, such as advanced authentication and watermarks, though details remain unclear. Other companies offering similar tools, such as Tavus and Microsoft, have stricter safeguards in place, raising concerns that Zoom’s efforts may not be sufficient to curb potential risks.
The rise of deepfakes continues to fuel regulatory debates. While some states in the US have introduced laws to combat the spread of AI-aided impersonation, there is still no comprehensive federal regulation addressing the issue. As Zoom prepares to launch this feature, the company will need to balance innovation with security.
