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Cyber Daily: Learning From Crypto Hacks | Cybersecurity Acquisitions
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Hello. Digital wallets that store cryptocurrency, bridges that allow the transfer of coins among exchanges, exchanges themselves—there's no single point of vulnerability in the crypto world. Hackability comes in many forms.
In the latest exploit, an attacker targeting the solana crypto ecosystem stole funds from thousands of wallets in an incident that could draw increased regulatory scrutiny to digital assets, WSJ reports. An estimated $8 million worth of crypto went missing from 8,000 wallets.
We've been following crypto's cybersecurity failings, which hold lessons for any security chief aiming to protect corporate assets. Two useful articles:
Also today, scroll down for more news, including:
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CONTENT FROM OUR SPONSOR: Netscout
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Why Advanced Network Detection And Response Is A Must
The world has seen a major increase in cyberattacks recently. Now’s not the time to have any blind spots. Here’s how to eliminate them with Advanced Network Detection and Response.
Read More
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PHOTO: AL DRAGO
/BLOOMBERG NEWS
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Doxing, the practice of releasing people’s personal information to facilitate harassment by others, magnifies threats to election workers, Kim Wyman, senior election security adviser at DHS’s Cybersecurity and Infrastructure Security Agency, said Wednesday at a Senate Judiciary Committee hearing. Federal agencies have advised election officials to report such incidents and to be mindful of what they put on the internet, she said. (WSJ)
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PHOTO: PATRICK T. FALLON
/BLOOMBERG NEWS
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Nate Fick, whom President Biden nominated as the first U.S. cyber ambassador, said the U.S. should lead in setting technology and cybersecurity policy goals with other countries, in part to ensure global critical infrastructure is made safer from cyberattacks from foreign adversaries, especially China.
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“I believe very strongly that global telecom security is essential,” Mr. Fick said. “The U.S. cannot do it alone,” said Mr. Fick, a former U.S. Marine and former chief executive of cybersecurity provider Endgame Inc., which was acquired by search company Elastic N.V. in 2019. If confirmed, he said, he would elevate the State Department’s role in cyber diplomacy among nations, noting that doing so has implications for global intelligence, economic interests and the promotion of democracy. (CyberScoop)
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▶️ Watch: WSJ's Dalvin Brown explains the ways Apple, Google and Microsoft plan to get rid of traditional passwords and decrease security risks.
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Big Tech Is the West’s Surprise Weapon in Competition With Russia, China
Ukraine shares none of the ambivalence toward big tech of its Western counterparts. It awarded Google a peace prize for its help securing Ukrainian computer systems against Russian cyberattacks and for cutting some business ties to Russia. It later gave Amazon's AWS and Microsoft similar awards. (WSJ)
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PHOTO: NATHAN LAINE
/BLOOMBERG NEWS
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India is revamping a national privacy bill that would have required companies to store data locally and comply with strict government oversight. Ashwini Vaishnaw, who leads India's government technology office, told Reuters a new proposal is in "advanced stages" and expected to be enacted next year.
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Since 2015, WSJ Pro has published its annual Women to Watch in Private Equity list to highlight the accomplishments of outstanding women in the field. We're accepting nominations for senior deal professionals, rising star deal professionals, and limited partner or fundraising professionals for this year's class. For more information and to submit your nominations before Aug. 8, click on this link.
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U.S. Emergency Broadcasting System Vulnerable
Old versions of software at U.S. TV and radio stations must be updated to guard against hackers taking over the nationwide alert system, an official with the Federal Emergency Management Agency told CNN. Some devices used in the system, which issues warnings about weather disasters and missing children, have poor security controls, according to a cyber researcher who warned FEMA.
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1 Million
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Number of bots shut down by Ukrainian officials for spreading disinformation related to the war, according to the Security Service of Ukraine. The bots had reached an estimated 400,000 users of social media, the service said.
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The U.K.'s Competition and Markets Authority granted preliminary approval for U.S.-based cyber firm NortonLifeLock Inc. to buy Britain's Avast PLC, a privacy-protection company. The $8.6 billion deal had already received approval in the U.S. (Reuters)
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Private-equity firm Thoma Bravo said it plans to buy Ping Identity Holding Corp. in a $2.4 billion deal that would add another cybersecurity company to Thoma Bravo's recent acquisitions, including Proofpoint and SailPoint Technologies Holdings Inc. (Reuters)
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