Australia has banned the use of TikTok on government devices due to security concerns. TikTok claims that the decision made by Australia is politically driven. More: - According to Reuters, the decision was made after the Australian government consulted with the Home Affairs Department.
- While the ban includes government devices, Australian lawmakers can still use TikTok on their personal phones.
- TikTok has so far been banned on government devices by:
- The U.S.,
- The U.K.,
- Australia,
- Canada,
- New Zealand,
- France,
- Belgium,
- and the European Commission.
- There are over 8 million Australian TikTok users, according to reports.
Zoom Out: - TikTok recently stated that the Biden administration has demanded that ByteDance divest its stake in the company to avoid a full ban.
- Last week, NATO banned its staff from downloading the app from NATO's devices.
- TikTok CEO Shou Chew testified in front of the U.S. Congress last week, answering dozens of questions on the company's privacy rules, its tracking of U.S. citizens, location tracking, etc. The executive denied storing more user data than U.S. social media companies do.
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The FBI has shut down an illegal stolen credentials marketplace named Genesis. The website sold access to accounts from Gmail, Facebook, Netflix, Spotify, PayPal, and other platforms for less than $10. More: - Genesis Market was created in 2017 and became one of the most popular online marketplaces for stolen account credentials.
- The operators of the marketplace used info-stealing malware to steal information such as:
- cookies,
- IP addresses,
- time zones,
- device information, etc.
- The hackers made money by renting out the account identities.
- To make it easier for its buyers, Genesis Market provided browser plug-ins that could import the data of a compromised account.
- Buyers were able to access these accounts for less than $10.
Zoom Out: - Only two weeks ago, The FBI arrested a New York resident on suspicion of being the administrator of the popular hacker forum BreachForums.
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The U.K. has fined TikTok $15.8M for violating its national privacy laws. The company allowed minors to open accounts without their parents' consent. More: - The country's premier privacy authority, the Information Commissioner's Office, stated that due to TikTok's breach of privacy laws, over 1 million users under the age of 13 were able to access the platform.
- The company's minimum signup age is 13.
- According to the agency, their data may have been used to track and profile them, potentially showing harmful and inappropriate content.
- Further, the ICO said that TikTok failed to provide accurate information to people using the platform about how their data is collected, used, and shared.
- The ICO claims that the privacy breaches happened between 2018 and 2020.
Zoom Out: - In 2022, French privacy authority CNIL fined TikTok $5.4M for failing to adhere to laws regarding the use of cookies.
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The number of global DDoS attacks in the last three years has increased by nearly 500%. The U.S. saw a 16,815% increase in this period. More: - The rise in the number of DDoS attacks is being credited mainly to Russian hacker groups such as Killnet.
- Killnet is a Russia-based hacker group that is believed to have been formed after the start of the war in Ukraine in March 2022.
- The threat actor is responsible for launching hacking campaigns against targets in the U.S., Germany, Japan, Hungary, Italy, etc.
- DDoS attacks have increasingly become not only more common but also more powerful.
- Peak DDoS alert traffic in a single day reached as high as 436 petabits and more than 75 trillion packets.
- On Feb. 23, 2023, Akamai mitigated the largest DDoS attack ever launched against a Prolexic customer based in Asia-Pacific. The attack peaked at 900.1 gigabits per second and 158.2 million packets per second.
- These statistics come from a report that covers 93 countries and over 50% of the world’s internet traffic.
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Quantexa has raised a $129M Series E funding round to help organizations thwart online crimes. The company has reached a $1.8B valuation. More: - Quantexa offers a data intelligence tool that enables companies to build insight models that are used to prevent online fraud.
- The company has 40% ARR growth and projects to reach $100M in revenue in 2024.
- Quantexa aims to become profitable by 2025.
- Singapore’s sovereign wealth fund GIC led the funding round, with participation from Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO, and AlbionVC.
- Since its inception in 2016, the company has raised over $370M.
- Quantexa is based in London, United Kingdom.
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- One in three remote and hybrid workers use apps or software that is not approved by the company they work in, according to reports.
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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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