Iranian hackers develop malware to bypass software encryption. Hackers in Iran have been infecting members of the public with malware designed to get around the encryption used in popular messaging apps, such as WhatsApp and Telegram, the New York Times reports. The hackers likely have ties to the Iranian government, researchers said, and have targeted dissidents both inside the country and abroad.
Former NCSC chief joins cyber VC firm. Ciaran Martin, the former chief executive of Britain’s National Cyber Security Centre, has joined Paladin Capital Group, a VC firm that invests in cybersecurity companies, as a managing director, Private Equity Wire reports. The NCSC is a branch of the Government Communications Headquarters, Britain’s electronic intelligence agency.
Trump signs off on TikTok deal with Oracle, Walmart. President Trump said he has agreed in concept to a deal under which Chinese-owned video-sharing app TikTok will partner with Oracle and Walmart to become a U.S.-based company, The Wall Street Journal reports. The move caps negotiations that have stirred debate over national security and the future of the internet. With the announcement of a deal, the Commerce Department said it would delay a ban on U.S. downloads and updates for the TikTok app that was set to take effect at 11:59 p.m. Sunday. The ban is now set to take effect Sept. 27, but could be further delayed or removed if the proposed new partnership goes forward.
Stakes: As initially described by people familiar with the deal, China’s ByteDance Ltd. would retain roughly 80% ownership of the company. But because ByteDance is about 40% owned by U.S. investors, the new company with equity stakes for Oracle and Walmart can be described as having majority American ownership, they said. One of the people elaborated Sunday, saying ByteDance wouldn’t technically be an owner of the new TikTok Global entity. Instead, shares in the new entity would be distributed proportionally to ByteDance’s current owners, which include both Chinese and American investors. With the addition of Oracle and Walmart taking a combined 20% equity stake, TikTok Global would be 53% owned by U.S. companies or investors, this person said.
Stakes after IPO: Following an anticipated initial public offering the Chinese stake in TikTok could fall to around 31%, this person said, depending on exact details of the size of the IPO.
Related: Judge to hear arguments on Trump’s WeChat restrictions (WSJ)
Ontario nursing college suffers data breach. Data on more than 200,000 people may have been exposed after a cyberattack on the College of Nurses of Ontari, CBC News reports. Hackers have threatened to publicize the information captured in the attack, which was made public by the college after reporters contacted them.
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