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Hello. Cybersecurity company Dragos has raised $74 million in an extension to its original Series D funding round, held in October 2021. Chief Executive Robert Lee said the main reason for raising more funding was that it will allow the company to continue its expansion beyond the U.S. and Europe, my colleague James Rundle reports.
Lee said he is considering an initial public offering in the future, but that there is no certainity and will be several years away if it does happen. The extension brings Dragos’ total funding to around $440 million.
The company’s software is specifically designed to defend industrial technology environments, such as water utilities and power-grid operators. Cybersecurity at critical infrastructure operators has received increased attention from the federal government, and security chiefs say they are coming under unrelenting attack from hackers. Read the full story.
Also today:
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Breach at crypto exchange Remitano
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FTC chair caught up in MGM hack
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Google to pay $93 million to settle privacy lawsuit
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Irish regulator fines TikTok
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Tiktok and U.S. government restart talks
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CONTENT FROM: Netscout
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The Guide to Zero Trust Security Architecture
The significant rise in cyber threats and data breaches makes the traditional security architecture inadequate. A new approach to security is crucial - Zero Trust Security Architecture. Zero-trust ensures total network protection.
Learn More
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PHOTO: MICHAEL M. SANTIAGO/ GETTY IMAGES
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FTC Chair Caught in MGM Hack
Federal Trade Commission Chair Lina Khan was among those waiting to check in at the MGM Grand hotel in Las Vegas last Tuesday when the company was dealing with a cyberattack, Bloomberg reports. Khan and her staff were asked to write down credit card numbers on paper because MGM’s technology systems were down.
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Crypto Exchange Remitano Reports Data Breach
Cryptocurrency exchange Remitano said it identified a data breach that compromised sensitive information. The exchange said it guarantees that “your assets are still fully protected and will not be subjected to any unexpected losses.” It said a small amount was transferred to suspicious wallet addresses through unauthorized transactions. Remitano said it took security steps including transferring users’ funds to “secure cold wallets.”
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Irish Privacy Regulator Fines TikTok
The Irish Data Protection Commissioner fined TikTok $367.2 million saying it breached the country’s data-protection laws, including what it said was the misuse of children’s information, WSJ reports. The regulator said accounts of child users on the
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platform were set to a default setting that allowed anyone to see their content, including people not on TikTok. The commission also said it found that TikTok’s “family pairing” feature—which allows adults to pair their accounts with a child user account and provides access to direct messages—didn’t verify parent or guardian status. Moreover, the commission cited a lack of transparent information that it said misled users into choosing more privacy-intrusive options. A TikTok spokesperson said it disagreed with the decision, “particularly the level of the fine imposed.”
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Google to Pay California $93 Million in Privacy Settlement
Google will pay $93 million to settle a lawsuit over the company’s allegedly misleading communications with consumers over data-tracking, Reuters reports. The state said Google deceived people who believed they had control over how the company collected and used their data, but Google was able to target them with advertising even if they turned off the “Location History” setting. Google is required to disclose more about how it tracks people’s location and uses data and take other privacy steps under the settlement.
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TikTok and U.S. Government Restart Negotiations
TikTok and the Biden administration are negotiating again, months after the government told parent company ByteDance to either sell the app or wait for Congress to pass a ban, the Washington Post reports. Employees from ByteDance and the Committee on Foreign Investment in the United States, which has authority over U.S. operations over foreign businesses, met this month to discuss a proposal from the company to cede authority over TikTok’s U.S. operations to a three-person board.
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