Plus: U.S. set to disburse $2B for cybersecurity
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 A Tornado Cash developer has been arrested in Amsterdam, Netherlands. The 29-year-old male is believed to have laundered stolen funds through Tornado Cash. More: - Tornado Cash is a cryptocurrency tumbler service that mixes cryptocurrency transactions to make them harder to identify.
- The service was recently banned by the U.S. government because many criminals abuse the service and use it to hide their illegal transactions.
- Tornado Cash is only the second mixer in history to be banned, after Blender. The latter is a North-Korean tumbler that was accused of helping the Lazarus group launder a portion of its $620M cryptocurrency stolen from Web3 game Axie Infinity.
- Besides the service ban, numerous crypto addresses have been banned by the U.S. government. It is believed that these services and wallet addresses may pose a national security threat.
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 The U.K. government has extradited three hackers to the U.S. The Nigerian nationals are accused of targeting U.S. universities with their hacking campaigns. More: - The three Nigerian nationals, all aged 40 and above, used business email compromise as a threat vector.
- BEC is a way of socially hacking businesses by convincing them that a fake email is sent from a legitimate source.
- In this case, the hacker convinced a university in the U.S. to wire them money and attempted to launder the money through numerous transactions.
- The crimes committed by the three hackers can be tried under the jurisdiction of courts in Texas, Virginia, and North Carolina.
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 Over 9,000 Virtual Network Computing servers have been exposed by threat actors. Due to the breach, these VNCs can be accessed remotely without owner authorization. More: - Due to the remote nature of VNCs, threat actors target prefer targeting systems that rely on this technology.
- Since most VNC operators rely on controlling the server networks remotely, hackers target them, knowing that they can take over.
- According to a report from researchers, over 9,000 VNCs are not password protected at all. Most of them are located in China and Sweden.
- The U.S., Brazil, and Spain follow the two countries on the list.
- Researchers stated that some of these VNCs are used in critical industries such as water reservoirs.
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 The U.S. government is set to award $2B in cybersecurity grants through the Infrastructure Investment and Jobs Act. The funds are projected to be dispersed from 2022 to 2025 More: - The legislation is meant to strengthen cybersecurity nationally by focusing on the cooperation between states and local governments.
- Cybersecurity authorities believe that the discrepancy in security protocols between federal and local authorities is significant.
- Before deploying the funds, governments must follow the National Cybersecurity Framework.
- These funds cannot be used to hire people, but they can be used to train current employees in cybersecurity skills.
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 Two journalists in Zimbabwe have been arrested under a new cybersecurity law. Authorities accused them of publishing fake news. More: - The two journalists had previously reported on connections between government officials and a specific political party.
- Authorities arrested the two journalists based on the Criminal Law Act, a controversial law recently passed in the African country.
- Under the law, a legal act named the Cyber and Data Protection Act, the government can arrest citizens who are deemed as a risk to national security.
- The act has widened the scope of where the government can look for information and what tools it can use to spy on its citizens.
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- According to a new report, cybersecurity professionals in major companies such as Morgan Stanley are leaving for other tech companies. The report follows the wider trend in the U.S., with most companies reporting on hiring problems in this current market.
- A company named Torch has won the contract for the Pentagon's future cybersecurity software. The technology will be built with the goal of tracking insider threats, while the agency has decided to name it SITH.
- A new report claims that credential theft attacks are still common, with the threat vector representing 54% of the total number of cyberattacks.
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 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
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