Cybersecurity Archives | Page 266 of 369 | Digital Watch Observatory

Hackers target Trump-linked crypto project with fake Barron meme coin

Zach Witkoff, co-founder of the Trump-affiliated crypto project World Liberty Financial, had his X account hacked on Wednesday. The hacker used the account to promote a fake memecoin project involving Barron Trump, claiming that the news would soon be confirmed by the Trump family.

World Liberty Financial quickly confirmed the hack, urging users to ignore the fraudulent Barron Trump project. This incident is part of a wider trend of crypto scams, as Ivanka Trump also warned earlier this year about a fake memecoin using her likeness to defraud investors.

World Liberty Financial, a decentralised finance project, launched its own token, WLFI, in October 2024. Despite these security issues, the project continues to operate with the Trump family’s name associated with its team.

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Google signs deal with Poland to accelerate AI use

Google has announced a new partnership with Poland, signing a memorandum of understanding aimed at accelerating the adoption of AI in the country. The agreement was revealed by CEO Sundar Pichai during a news conference on Thursday. Through this collaboration, Google and Poland seek to use AI as a tool to drive economic growth and innovation, focusing on areas that include cybersecurity, health, and energy.

The deal highlights the potential for AI to transform key sectors of the economy, with both parties eager to explore new opportunities. Pichai emphasised how AI could help bolster cybersecurity measures, improve healthcare delivery, and increase energy efficiency in Poland, which would have far-reaching implications not just for the country but for the broader European region. These sectors, in particular, are seen as critical for future development, and the use of AI could significantly enhance Poland’s technological capabilities.

This partnership also underscores Google’s growing commitment to global AI initiatives, as the company continues to collaborate with governments and organisations around the world to implement AI-driven solutions. Poland is positioning itself as an important player in Europe’s AI landscape, and this agreement represents a step forward in its efforts to modernise and compete on a global scale in the rapidly evolving tech space.

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Six charged after Chicago family kidnapped for cryptocurrency

A Chicago family and their nanny were kidnapped for five days in October by armed men demanding a ransom in cryptocurrency. The kidnappers stole $15 million in digital assets, including Bitcoin and Ether, and forced the victims to transfer funds from their crypto accounts before releasing them.

The incident began when one of the suspects pretended to be at the door to fix a damaged garage, only to overpower the family with a gun. The victims were then transported to an Airbnb and later to another location, where they were threatened with death unless they complied with the kidnappers’ demands.

FBI agents were able to track the suspects using surveillance footage and forensic evidence. The investigation led to six arrests, with one suspect, Zehuan Wei, apprehended while trying to re-enter the US in January. The remaining suspects are believed to have fled to China.

This case highlights the growing trend of crypto-related kidnappings, as criminals target individuals with access to digital currencies. Recently, other high-profile kidnappings for cryptocurrency ransom have also made headlines, including the abduction of a Ledger co-founder and a Toronto CEO.

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China faces a decline in chip equipment spending

China’s chipmaking equipment purchases are expected to decline in 2025, following three years of growth, due to overcapacity and increasing restrictions from US sanctions. After purchasing $41 billion in equipment in 2024, which accounted for 40% of global sales, China’s spending is predicted to fall by 6% to $38 billion this year, marking the first decline since 2021. The drop in demand is attributed to reduced purchases in response to export controls and an excess of manufacturing capacity.

Despite these challenges, China has been a key driver for the global wafer fabrication equipment market over the past few years, even as other sectors saw downturns. Much of China’s equipment buying has been linked to stockpiling efforts in response to US sanctions aimed at limiting China’s ability to produce advanced chips, particularly for military use. Chinese firms, like SMIC and Huawei, have continued to advance in chip production, although at a higher cost and with more effort, while also focusing on expanding in the mature-node chip market.

In addition to growing its domestic production capabilities, China’s leading equipment manufacturers, such as Naura Technology Group and AMEC, are expanding internationally. However, the country still faces significant challenges in self-sufficiency, particularly in areas like lithography systems, testing, and assembly tools. While China’s domestic companies have made strides in equipment sales, they still rely heavily on foreign suppliers for advanced technology in these areas.

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EU regulators to discuss DeepSeek over data privacy concerns

European data protection authorities are set to discuss Chinese AI startup DeepSeek amid growing concerns about how the company handles personal data. The European Data Protection Board will review the firm’s practices at its monthly meeting on Tuesday, following questions from several national regulators about whether European user data is being used for AI training and if it could be transferred to China.

France‘s privacy watchdog, CNIL, has already questioned DeepSeek about its AI model and any potential risks to user privacy. Ireland‘s data protection authority has also requested information, while Italy has taken a more drastic step by ordering DeepSeek to block its chatbot in the country due to unresolved concerns over its privacy policy.

The European Union is known for its strict data protection laws, with the General Data Protection Regulation (GDPR) considered one of the most comprehensive privacy frameworks globally. Authorities are now working to coordinate their approach to ensure a consistent response to DeepSeek’s activities across the region.

Europol arrests four Russians in ransomware crackdown

Authorities have arrested four Russian nationals suspected of deploying Phobos ransomware to extort payments from victims across Europe and beyond. Europol announced that law enforcement agencies from 14 countries worked together to dismantle the network, taking down 27 servers linked to the cybercriminals. The individuals arrested were reportedly leaders of the 8Base ransomware group, a key player in distributing Phobos malware.

The operation follows a series of recent arrests targeting Phobos-related cybercrime. In June 2024, a key administrator of the ransomware was apprehended in South Korea and later extradited to the United States, while another major affiliate was arrested in Italy last year. Authorities have since issued warnings to over 400 companies worldwide about imminent cyberattacks.

Phobos ransomware has been particularly damaging to small and medium-sized businesses, which often lack strong cybersecurity protections. Europol’s latest Russian crackdown is a significant step in weakening the ransomware network and preventing further cyber extortion efforts.

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Macron calls for investment and simplified AI rules

At the AI summit in Paris, French President Emmanuel Macron announced that Europe would reduce regulations to foster the growth of AI in the region. He called for more investment, particularly in France, and highlighted the importance of simplifying rules to stay competitive globally. Macron drew comparisons to the rapid reconstruction of the Notre-Dame cathedral, stating that a similar streamlined approach would be adopted for AI and data centre projects across Europe.

European Union digital chief Henna Virkkunen echoed Macron’s comments, promising to cut red tape and implement business-friendly policies. With the US pushing ahead with lighter AI regulations, there is increasing pressure on Europe to follow suit. Sundar Pichai, CEO of Alphabet, emphasised the need for more ecosystems of AI innovation, similar to the one emerging in France. The EU had previously passed the AI Act, which is the world’s first comprehensive set of AI regulations, but many at the summit urged a more flexible approach.

At the summit, France announced a major push for AI investment, including €109 billion from the private sector, and the launch of the Current AI partnership. This initiative, backed by countries like France and Germany, aims to ensure AI remains inclusive and sustainable. However, not all voices at the summit supported reducing regulations. Concerns were raised about the potential risks of weakening safeguards, particularly for workers whose jobs might be affected by AI advancements.

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UAE Energy Minister downplays impact of DeepSeek on nuclear demand

The United Arab Emirates‘ Energy Minister, Suhail Mohamed Al Mazrouei, stated on Wednesday that he does not believe the Chinese AI app DeepSeek will impact the demand for nuclear energy. DeepSeek, a Chinese startup, has developed AI models that deliver comparable results with much lower computing power, resulting in significant energy savings.

However, Al Mazrouei expressed confidence that this advancement will not reduce the growing need for nuclear energy in the UAE. He highlighted that nuclear power remains a critical component of the country’s strategy for diversifying energy sources and ensuring energy security in the long term.

The UAE has been investing heavily in nuclear energy as part of its efforts to reduce dependence on fossil fuels and to meet its climate goals. The Barakah nuclear power plant, which is set to become one of the largest nuclear power stations in the Middle East, is a key part of this initiative.

Al Mazrouei also noted that nuclear energy offers a reliable and scalable solution that can complement renewable energy sources, especially as the UAE looks to meet rising energy demands. While AI advancements like DeepSeek may contribute to energy efficiency, the UAE remains focused on expanding its nuclear energy infrastructure to support its future growth and sustainability objectives.

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Apple granted UK authorities iCloud data in just 4 of 6,000 requests since 2020—excluding Investigatory Powers Act cases

Since 2020, Apple has provided iCloud data to UK authorities in response to four of more than 6,000 legal requests for customer information under non-IPA laws. This data excludes requests made under the Investigatory Powers Act (IPA), the UK’s primary law for accessing tech company data.

From January 2020 to June 2023, Apple received between 0 and 499 IPA-related requests in the first half of 2023, reported in bands of 500. Due to legal limitations, Apple cannot disclose details about these requests.

Earlier reporting linked the low number of content disclosures to efforts by the UK government to force Apple to provide encrypted iCloud data. However, due to the data’s lack of detail, no direct connection can be made.

The UK government previously stated that it has made over 10,000 requests to US companies since the US-UK Data Access Agreement began, providing crucial data for law enforcement in cases related to terrorism, organized crime, and other serious offenses.

Apple’s transparency reports suggest that content data is shared more frequently in other countries, such as the US, where it responded to 22,306 requests in 2020-2023. In comparison, most countries see lower content disclosures due to restrictions on sharing with foreign governments.

The British government’s Technical Capability Notice (TCN), revealed by The Washington Post, follows Apple’s 2022 introduction of optional end-to-end encryption (E2EE) for iCloud. While the UK government did not characterise it as such, critics see the TCN as a potential ‘back door’ to Apple’s encrypted data. Apple has declined comment, while the UK government refrains from discussing operational matters.

The controversy reflects ongoing debates about the balance between encryption, privacy, and law enforcement access to encrypted data.

China tops global data breach rankings in 2024, experts warn

In 2024, three countries entered the top 10 for the highest number of breached accounts. China topped the list, rising from 12th place in 2023, Germany moved up to fifth from 16th, and Poland secured the tenth spot, up from 17th, according to Surfshark, a cybersecurity firm. Despite these changes, Russia, the US, France, India, Brazil, Italy, and the UK remained in the top 10 for both years.

Brazil and Italy saw significant increases, climbing two spots each in 2024. Brazil experienced a 24-fold rise in breached accounts, while Italy saw a 21-fold surge. Russia and France maintained their positions in second and fourth place, though both saw dramatic increases, with Russia’s breaches rising 11 times and France’s nearly 14 times.

In 2024, regional data breach statistics show that Europe had the highest share, accounting for 29% of all breached accounts, totalling over 1.6 billion, with Russia leading the region. Asia followed as the second-most affected region, contributing 23% to the global total, or nearly 1.3 billion breached accounts, with China at the forefront. North America ranked third, representing 14% of all breaches, or about 770 million compromised accounts, primarily from the US.

The US, India, and the UK dropped in rankings in 2024, but the number of breached accounts in these regions still rose. The US saw a 39% increase, ranking third globally, while India recorded five times more breaches than in 2023, and the UK experienced a 14-fold surge. China had the most dramatic increase, with breached accounts jumping nearly 340 times compared to the previous year.

In 2024, Australian users also faced a cyber attack every second, marking a twelvefold increase compared to the previous year. This contributed to a global rise in data breaches, with 5.6 billion accounts compromised worldwide, averaging 176 breaches per second. This global figure represents an eightfold increase from 2023, when 23 accounts were breached per second.