Minor flaws in coding can leave users exposed to a world of cyber criminals. To help find these vulnerabilities, software companies often have their own team of hackers and programmers who try and exploit the system before going live. One team known as Project Zero has expanded these security practices outside of their own companies software and are now threatening to expose vulnerabilities in their rivals software if not fixed within 90 days.
Self Appointed Security Police
Google’s Project Zero, a crack team of hackers and programmers named after the feared “zero day” security flaw, scrub both their own and competitor’s software looking for vulnerabilities. When one is spotted, they contact the company and make them aware of it as well as give them a deadline of 90 days to patch it. Google has remained firm in their 90 day policy, even denying a request from Microsoft not to reveal the security bug for an additional 48 hours because it had been corrected in a patch release schedule to go out the next morning.
While the idea of finding security flaws and pressuring companies to fix them is a good idea, perhaps its unfair that Google is turning into the security police. While Microsoft and Apple have declined to comment on the subject, Chris Betz, the Senior Director of Microsoft Security Response Center, wrote a strongly worded blog post. In his post, Betz expressed anger at the fact that Google made public a security flaw that was going to be patched the next day, giving hackers a narrow window to exploit it.
Specifically, we asked Google to work with us to protect customers by withholding details until Tuesday, January 13, when we will be releasing a fix. Although following through keeps to Google’s announced timeline for disclosure, the decision feels less like principles and more like a ‘gotcha’, with customers the ones who may suffer as a result.
Apple has declined to comment on the matter and Microsoft has only pointed inquiries to the statement made by Betz. Others in the industry have not been as closed lipped, suggesting Google is overstepping it’s bounds and taking on a role best left to government or a neutral body. John Dickson, a principal with software security company Denim Group Ltd. spoke out saying that while he thought it concept was a good idea, he wasn’t so sure on Google spearheading the venture.
“I’m not sure who made Google the official referee of the marketplace for vulnerability notification… What noble motives they had in mind could be called into question given the fact that they essentially outed vulnerabilities for two of their biggest rivals.” – John Dickson
Other in the industry have questioned if Google’s motives are truly as altruistic as the are claiming. To many, it appears they are simply trying to stamp out competition. Having a strict 90-day policy may, in fact, hurt customers more than it will help them. By exposing security flaws that would have otherwise gone unnoticed, Google may be helping hackers. Microsoft and others have suggested there are better, more productive ways to handle these issues rather than making them public.
Images from Shutterstock.
Uber Is Paying Hackers to Keep Quiet
Uber Technologies Inc. has reportedly paid hackers to delete scores of private data stolen from the company in a security breach that was concealed for over a year. The revelation provides further confirmation that, when it comes to cyber security, crime does pay.
Massive Data Breach
According to Bloomberg Technology, hackers retrieved the personal data of 57 million Uber customers and drivers at some point last year. Nobody heard about it because the rideshare company paid the hackers $100,000 to keep quiet. A purge at the front office of Uber also ensured that the massive cyber breach was kept under wraps.
The compromised data was from October 2016 and included the names, phone numbers and addressed of 50 million Uber riders globally. About seven million drivers had their personal information accessed as well.
At the time of the cyber attack, Uber was inundated with a slew of legal issues stemming from alleged privacy violations. Rather than shine even more negative spotlight on the company, Uber executives decided to pay hackers to stay quiet.
“None of this should have happened, and I will not make excuses for it,” Dara Khosrowshahi, who took over as CEO in September, said in a statement that was published by Bloomberg. “We are changing the way we do business.”
Hackers have done a masterful job infiltrating companies and governments in recent years. As a reminder, recent cyber attacks levied against Yahoo!, Target Corp and Equifax Inc. dwarf Uber’s 57 million compromised accounts.
Various reports indicate that cyber attacks are bleeding the global economy dry. One report, issued by the World Economic Forum, suggests that cyber crime cost the world economy $445 billion in 2016. If cyber crime were its own market cap, it would exceed Microsoft Inc., Facebook Inc. and ExxonMobil Corp
The Fall of Uber?
Uber revolutionized the ride-hailing business over the span of seven years by giving more power to the consumer. Several missteps later, the company finds itself in legal hot water, with its future appearing less certain than it did just one year ago.
The rideshare company faces at least five U.S. probes ranging from bribes to illicit software and right up to unethical pricing schemes. According to another Bloomberg report, Uber is under investigation for violating price transparency regulations, not to mention the alleged theft of documents for Google’s autonomous cars.
Some governments are sensing weakness in the ride-hailing service, and are moving toward banning the Uber app entirely. London is the most prominent example of a city that has taken definitive steps to outlaw the service over a “lack of corporate responsibility.”
Even with its legal troubles, Uber is a revolutionary technology that has influenced a bevy of other innovations aimed at improving the human experience.
Featured image courtesy of Shutterstock.
The Pirate Bay is Hijacking PCs to Stealth-Mine Cryptocurrency
For the second time in as many months, The Pirate Bay has been caught mining cryptocurrency on your computer without consent. The torrent platform was actually test-driving cryptocurrency mining in your browser – no doubt a lucrative revenue stream.
The Pirates Are At It Again
The news was later confirmed by Bleeping Computer, which reported that,”The Pirate Bay, the internet’s largest torrent portal, is back at running a cryptocurrency miner after it previously ran a short test in mid-September.”
Estimates indicate that the scheme has earned the pirates a total of $43,000 over a three-week period.
Users had no way to opt their computers out of being test-driven by the torrent network. Back in September, The Pirate Bay got away by telling people it was just a test. The site’s owners cannot use the same excuse this time around.
CoinHive advises websites to let their visitors know their browser is being used to mine cryptocurrency.
“We’re a bit saddened to see that some of our customers integrate CoinHive into their pages without disclosing to their users what’s going on, let alone asking for their permission,” the company said.
The good news is most ad-blockers and antivirus programs will block CoinHive, given its recent abuses. That means not all visitors of The Pirate Pay were being used as a conduit for mining Monero.
Monero Joins Global Crypto Rally
The value of Monero (XMR) shot up nearly 8% on Friday, and was last seen trading at $94.17. With more than 15.2 million XMR tokens in circulation, the total market cap for Monero is $1.4 billion, according to CoinMarketCap. That’s enough for ninth on the global cryptocurrency list.
Twelve cryptos have now crossed the $1 billion valuation mark. A handful of others have made their way north of $500 million.
Ethereum Notches Two-Month High as Bitcoin Offspring Triggers Volatility
Digital currency Ethereum climbed to a two-month high on Monday, taking some of the heat off Bitcoin and Bitcoin Cash, which have slumped since the weekend.
Ethereum Forges Higher Path
Concerns over Bitcoin created a favourable tailwind for Ethereum (ETH/USD), which is the world’s No. 2 digital currency by total assets. Ether’s price topped $340.00 on Monday and later settled at $323.54. That was the highest since June 20.
At its peak, ether was up 10% on the day and 70% for the month of August.
The ETH/USD was last down 2.2% at $315.02, according to Bitfinex. Prices are due for a brisk recovery, based on the daily momentum indicators.
Fractured Bitcoin Community
Bitcoin and its offshoot, Bitcoin Cash, retreated on Monday following a volatile weekend. The BTC/USD slumped at the start of the week and was down more than 3% on Tuesday, with prices falling below $3,900.00. Just last week, Bitcoin was trading at new records near $4,500.00.
Bitcoin Cash, which emerged after the Aug. 1 hard fork, climbed to new records on Saturday, but has been in free-fall ever since. The BTH was down another 20% on Tuesday to $594.49, according to CoinMarketCap. Its total market value has dropped by several billion over the past two days.
Analysts say that a “fractured” Bitcoin community has made Ethereum a more attractive bet this week. The ether token has shown remarkable poise over the past seven days, despite trading well shy of a new record.
Other drivers behind Ethereum’s advance are steady demand from South Korean investors and growing confidence in a smooth upgrade for the the ETH network. The upgrade, which has been dubbed “Metropolis,” is expected in the next several weeks. Its key benefits include tighter transaction privacy and greater efficiency.
Ethereum Prices Unaffected by ICO Heist
Fin-tech developer Enigma was on the receiving end of a cyber-heist on Monday after hackers took over the company’s website, mailing list and instant messaging platforms. The hack occurred three weeks before Enigma’s planned Initial Coin Offering (ICO) for September 11.
In addition to defacing the company’s website, the hackers pushed a special “pre-sale” ahead of the ICO. While many users realized it was a scam, 1,492 ether tokens – valued at $495,000 – were directed into the hackers’ cryptocurrency wallet by unsuspecting backers.
The irony in all this is that Engima is a cryptography company that prides itself on top-notch security protocols. The company issued a statement that its servers had not been compromised.
- Ripple Spikes 50% as Bitcoin Lifts Smaller Altcoin...
- Trade Recommendation: Bitcoin Cash
- Trade Recommendation: Siacoin
- Asian Market Update – Tuesday: Litecoin price skyr...
- Technical Analysis: Bitcoin Grinds Higher as Recor...
- Altcoin Investing Strategy as Futures Hit the Mark...
- Technical Analysis: Litecoin Continues Surge as Bi...
- Ethereum Just Broke $700 for the First Time December 13, 2017
- Trade Recommendation: ETC/BTC Pair Bottoming Out December 13, 2017
- Trade Recommendation: USDJPY December 13, 2017
- What’s Behind the Cryptosurge December 13, 2017
- Marijuana Stocks Continue to Grow Ahead of California’s Planned Legalization December 13, 2017
- Asian Market Update – Wednesday: Coins fall back after strong rally; Asian stocks mixed ahead of Fed decision December 13, 2017
- ICO Analysis: The Game Machine December 13, 2017
- Ripple Spikes 50% as Bitcoin Lifts Smaller Altcoins December 13, 2017
- A Career in Crypto: How to Work in the World’s Fastest Growing Market December 13, 2017
- Technical Analysis: Bitcoin Grinds Higher as Records Tumble in Altcoins December 13, 2017
A part of CCN
Analysis4 days ago
Long-Term Cryptocurrency Analysis: Look Out Below?
Altcoins1 week ago
IOTA Doing Big Things as Microsoft Partnership Announced
Recommendations5 days ago
Trade Recommendation: Litecoin
Analysis1 week ago
$100 Litecoin Looks Poised for Greater Upside
Cryptocurrencies1 week ago
Trade Recommendation: Neo
Cryptocurrencies3 days ago
Trade Recommendation: Zcash
Cryptocurrencies5 days ago
Trade Recommendation: Stellar
Cryptocurrencies5 days ago
Trade Recommendation: Ethereum Classic