Thousands of event tickets leaked because of Ticketmaster hack

In an ongoing extortion scheme targeting Ticketmaster, nearly 39,000 print-at-home tickets for 150 upcoming concerts and events featuring artists like Pearl Jam, Phish, Tate McCrae, and Foo Fighters have been leaked by threat actors. The person responsible, known as ‘Sp1derHunters,’ is the same individual who sold data stolen from recent data breaches targeting Snowflake, a third-party cloud database provider.

The chain of events began in April when threat actors initiated the download of Snowflake databases from over 165 organisations using stolen credentials acquired through information-stealing malware. Subsequently, in May, a prominent threat actor named ShinyHunters started to sell the data of 560 million Ticketmaster customers, allegedly extracted from Ticketmaster’s Snowflake account. Ticketmaster later verified that their data had indeed been compromised through their Snowflake account.

Initially, the threat actors demanded a ransom of $500,000 from Ticketmaster to prevent the dissemination or sale of the data to other malicious actors. However, a recent development saw the same threat actors leaking 166,000 Taylor Swift ticket barcodes and increasing their demand to $2 million.
In response to the situation, Ticketmaster asserted that the leaked data was ineffective due to their anti-fraud measures with a system that continuously generates unique mobile barcodes. According to Ticketmaster, their SafeTix technology safeguards tickets by automatically refreshing barcodes every few seconds, making them impervious to theft or replication.

Contrary to Ticketmaster’s claims, Sp1d3rHunters refuted the assertion, stating that numerous print-at-home tickets with unalterable barcodes had been stolen. The threat actor emphasised that Ticketmaster’s ticket database has online and physical ticket types, such as Ticketfast, e-ticket, and mail, which are printed and cannot be automatically refreshed. Instead, they suggested that Ticketmaster must invalidate and reissue the tickets to affected customers.

The threat actors shared a link to a CSV file containing the barcode data for 38,745 TicketFast tickets, revealing ticket information for various events and concerts, including those featuring Aerosmith, Alanis Morissette, Billy Joel & Sting, Bruce Springsteen, Carrie Underwood, Cirque du Soleil, Dave Matthews Band, Foo Fighters, Metallica, Pearl Jam, Phish, P!NK, Red Hot Chili Peppers, Stevie Nicks, STING, Tate McRae, and $uicideboy$.

Adobe India hiring for generative AI research roles

Adobe is expanding its generative AI team in India, seeking researchers skilled in NLP, LLMs, computer vision, deep learning, and more. With approximately 7,000 employees already in India, Adobe aims to bolster its research capabilities across various AI domains. Candidates will innovate and prototype AI technologies, contributing to Adobe’s products, publishing research, and collaborating globally.

Successful applicants are expected to demonstrate research excellence and a robust publication history, with backgrounds in computer science, electrical engineering, or mathematics. Senior roles require a minimum of seven years’ research experience, coupled with strong problem-solving abilities and analytical skills. Adobe prioritises integrating generative AI across its Experience Cloud, Creative Cloud, and Document Cloud, aiming to enhance content workflows and customer interactions.

Adobe’s foray into generative AI began with Adobe Firefly in collaboration with NVIDIA in March 2023. The company recently integrated third-party AI tools such as OpenAI’s Sora into Premiere Pro, offering users flexibility in AI model selection.

By partnering with AI providers like OpenAI, RunwayML, and Pika, Adobe continues to innovate, enabling personalised and efficient content creation workflows for enterprise customers.

Why does it matter?

The IATSE’s tentative agreement represents a significant step forward in securing fair wages and job protections for Hollywood’s behind-the-scenes workers, ensuring that the rapid technological advancements do not come at the expense of human employment.

ACCC accepts Telstra and Optus commitments amid Google search investigation

The Australian Competition and Consumer Commission (ACCC) has reached agreements with Telstra and Optus regarding Google’s search services following an investigation into potential anticompetitive practices. The ACCC found that Google had arrangements with Telstra and Optus since at least 2017, ensuring its search services were pre-installed as the default on Android devices supplied by these telecom companies. These agreements restrict competition by limiting the visibility of rival search engines.

Telstra and Optus have cooperated with the ACCC and agreed that, as of 30 June 2024, they will not renew or enter into any new agreements with Google that mandate its search services as the exclusive default option on devices they distribute. These undertakings aim to promote competition and consumer choice in Australia’s digital market.

ACCC Commissioner Liza Carver emphasised the importance of these undertakings in enhancing consumer choice and fostering competition in digital platforms. She noted that practices such as exclusivity agreements can stifle innovation and limit options for consumers, highlighting the need for digital platforms to adhere to Australia’s competition laws.

The ACCC’s broader investigation into Google’s practices continues, focusing on potential competition concerns raised by these agreements and their impact on the digital economy. The commission plans to submit further reports on its findings, including recommendations for regulatory reforms aimed at promoting fair competition among digital platforms in Australia.

Former ASML CEO criticises US-China chip disputes

The former CEO of ASML, the known semiconductor equipment maker, criticised the US-China chip disputes as ideological rather than fact-based. Peter Wennink, who retired in April after a decade at ASML, stated that the US imposed ongoing restrictions on exporting tools to China since 2018, driven by ideology rather than practical considerations. These restrictions have affected ASML’s ability to serve its Chinese market, which is second only to Taiwan.

During his tenure, Wennink sought to balance stakeholders’ interests by lobbying against overly strict export controls and addressing intellectual property concerns with Chinese officials. He emphasised that ASML has long served in China, creating obligations towards its customers and staff. Despite perceptions that he might favour China, Wennink clarified that his loyalty lies with his company’s customers, suppliers, employees, and shareholders.

Predicting the future of the chip war, Wennink suggested that the geopolitical conflict could continue for decades, given the complex and deeply entrenched interests involved. He expressed concerns that ideological battles could undermine the balanced management of business interests.

Elon Musk seeks dismissal of lawsuit over delayed Twitter stake disclosure

Elon Musk is seeking to dismiss a lawsuit filed by former Twitter shareholders, alleging that he delayed revealing his large ownership stake in the company in early 2022. The shareholders claim Musk and his wealth manager, Jared Birchall, knew they were required by SEC rules to disclose when Musk’s stake exceeded 5% by 24 March 2022 but waited another 11 days. The delay, they argue, allowed Musk to buy more shares at lower prices, saving over $200 million.

In a filing in Manhattan federal court, Musk argued that the delay was a mistake rather than an attempt to defraud shareholders. He contended it was implausible to believe he intended to deceive investors who were unaware of his 9.2% stake and who missed out on significant gains by selling their shares prematurely. Musk claimed he initially planned to disclose his stake at the end of 2022 but did so earlier after realising he had misunderstood the SEC disclosure rule.

An Oklahoma public pension fund is leading the lawsuit. Despite Musk’s defence, a US District Judge had previously refused to dismiss the case, citing evidence that Musk understood the SEC’s disclosure requirements. Musk eventually bought Twitter, now known as X, for $44 billion in October 2022, and the SEC has also investigated his stock purchases.

EU probes industry on China’s chip production

The European Commission has initiated a consultation with the semiconductor industry to gather views on China’s expanded production of older-generation computer chips, known as legacy chips. The effort precedes two voluntary surveys targeting the chip industry and major chip-using firms, which are due in September. The Commission aims to assess the role of legacy chips in supply chains and explore potential joint measures with the US to address dependency and market distortion.

That move comes amid rising tensions between the EU and China as the European Union seeks to shield its industries from Chinese competition. Recently, the Commission imposed provisional tariffs of up to 37.6% on Chinese electric vehicles, signalling a potentially tougher stance towards Beijing. Chinese investment in legacy chip production, driven by state subsidies and US restrictions on advanced chips, has raised concerns in the West about long-term market implications and potential oversupply.

The Commission’s antitrust chief, Margrethe Vestager, hinted in April at a possible investigation into legacy chips after discussions with US officials. A detailed report released by the European Commission earlier this year highlighted the extensive support provided by the Chinese government to domestic firms across various sectors, including semiconductors. The new chip-focused surveys are broader in scope than previous US security-focused surveys, aiming to gather comprehensive data on chip sourcing, products, pricing, and competitive estimates.

Taiwan central bank delays digital currency

Taiwan’s central bank has announced no set timeline for launching a digital currency, emphasising that the process will be extensive and complex. Despite this slackening, the bank plans to hold public hearings next year to educate the public about digital currency. The central bank has been developing a pilot program for a government-run digital currency to enable people to use digital wallets for payments without needing debit or credit cards.

In a report to parliament, the bank noted that while there is no timetable for issuing the digital currency, ongoing research and experimentation are already enhancing the payment system’s efficiency and innovation. The bank stressed the importance of widespread communication about the currency’s introduction, highlighting the need for public hearings and forums.

Why does it matter?

Globally, 134 countries, representing 98% of the world’s economy, are exploring digital versions of their currencies, with many in advanced development stages. Proponents argue that digital currencies offer new functionalities and alternatives to physical cash, though concerns about government surveillance have sparked protests in some countries.

Crypto thefts surge in 2024

The first half of 2024 saw a significant surge in cryptocurrency thefts, with over $1.38 billion stolen by 24 June, compared to $657 million during the same period in 2023, according to blockchain researchers TRM Labs. The increase in stolen crypto, driven by a few large-scale attacks and rising crypto prices, highlights the growing motivation among cybercriminals. Ari Redbord, global head of policy at TRM Labs, noted that while the security of the crypto ecosystem hasn’t fundamentally changed, the higher value of various tokens has made crypto services more attractive targets.

One of the year’s largest thefts involved $308 million worth of bitcoin stolen from Japanese exchange DMM Bitcoin. Large-scale losses remain relatively rare, although cryptocurrency companies face hacks and cyberattacks frequently. The theft increase comes as crypto prices rebound from the lows following the 2022 collapse of FTX, with bitcoin reaching an all-time high of $73,803.25 in March.

In 2022, around $900 million in cryptocurrency was stolen, partly due to a major $600 million theft from a blockchain network linked to the game Axie Infinity. The US has attributed that theft to North Korean hackers, who the UN has accused of using cyberattacks to fund its nuclear and missile programs. However, North Korea has denied involvement in hacking activities.

EU Commission opens €210m fund for cybersecurity and digital skills initiatives

The European Commission has opened the application process to fund cybersecurity and digital skills initiatives, exceeding a €210m ($227.3m) investment under the Digital Europe Programme (DEP). Established in 2021, the DEP aims to contribute to the digital transformation of the EU’s society and economy, with a planned total budget of €7.5bn over seven years. It funds critical strategic areas such as supercomputing, AI, cybersecurity, and advanced digital skills to advance this vision.

In the latest funding cycle, the European Commission will allocate €35m ($37.8m) towards projects safeguarding large industrial installations and critical infrastructures. An additional €35m will be designated for implementing cutting-edge cybersecurity technologies and tools.

Furthermore, €12.8m ($13.8m) will be invested in establishing, reinforcing, and expanding national and cross-border security operation centres (SOCs). The initiative aligns with the proposed EU Cyber Solidarity Act, which aims to establish a European Cybersecurity Alert System to enhance the detection, analysis, and response to cyber threats. The envisioned system will consist of cross-border SOCs using advanced technologies like AI to share threat intelligence with authorities across the EU swiftly.

Moreover, the DEP will allocate €20m to assist member states in complying with the EU cybersecurity laws and national cybersecurity strategies. That includes the updated NIS2 Directive, which mandates strengthening cybersecurity measures in critical sectors and requires it to be transposed into national legislation by October 2024.

Finally, the latest DEP funding round will also allocate €55m ($59.5m) towards advanced digital skills, supporting the design and delivery of higher education programs in key digital technology domains. Additionally, €8m ($8.6m) will be directed towards European Digital Media Observatories (EDMOs) to finance independent regional hubs focused on analysing and combating disinformation in digital media.

Apple supplier Foxconn to invest $551 million in Vietnam

Foxconn, the Taipei-based supplier for Apple, will invest approximately $551 million in two projects in the northern province of Quang Ninh, Vietnam. The company received a $264 million project license at Song Khoai Amata Industrial Park to produce 4.2 million smart entertainment units annually. It will also invest $287 million in Bac Tien Phong Industrial Park for smart-system equipment production.

According to the announcement, the company has committed nearly $1 billion in investments in the province. To support Foxconn, the Quang Ninh provincial government will establish a working group to expedite Foxconn’s construction, aiming for completion by September 2025. Last year, the government announced two additional Foxconn plants for electronic components with a total investment of $246 million.

Why does it matter?

Through its main subsidiary, Hon Hai Precision Industry, which assembles most of the world’s iPhones, Foxconn has been expanding its production facilities to countries like India and Vietnam. That move can be located as a part of the larger trend of tech companies diversifying their supply chain in an attempt to reduce their reliance on China.