Ferrari may have been hacked / Hacker sentenced to 25 years after stealing $9.5M / YouTube channel spreading malware

Plus: Securiti raises a $75M Series C

Inside.com Part of   Network October 04, 2022

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Ferrari may have been hacked as a hacker group has taken credit for leaking company documents. Ferrari officials have denied any cyberattack. More: Ransomware named RansomEXX is believed to have been used to steal 7GB worth of data, including repair manuals, datasheets, communication documents, management-related documents, etc. The ransomware has been previously used to hack Brazil's Superior Court of Justice and the Texas Department of Transportation. RansomEXX affects both Windows and Linux. The malware is characterized by its deployment as a RaaS. The threat actor credited for having launched the ransomware is Gold Dupont. The hacker group has been active since 2018 and uses tools such as RansomEXX, Cobalt Strike, Metasploit, and Vatet Loader. Gold Dupont has mostly attacked entities located in the U.S., France, and Brazil, while its most targeted industry is manufacturing, followed by education and banking. The stolen data was leaked on a TOR website. Zoom Out: Ferrari was hacked as recently as 2021, as the company's website was used by hackers to sell an NFT scam.

A hacker has been sentenced to 25 years in prison after stealing $9.5M and trying to launder the funds through 50 different bank accounts. The hacker was based in Norcross, Georgia. More: The U.S.-based male individual was charged by a federal grand jury in February 2022 with one count of conspiracy to commit money laundering and 15 counts of substantive money laundering. According to the U.S. Department of Justice, the hacker had eight accomplices who helped him hide the money under false bank accounts. The individuals deposited the money under the pretense of running active businesses. The hacker and his accomplices used online dating sites to lure victims into sending them money. This hacking campaign was active from October 2018 to August 2020.

A message from SECURITY COMPASS This is your show developers! Watch our panel answer questions & offer advice on how we can all improve developer-centric threat modeling. What to expect: Earlier this year, Security Compass ran a survey that probed the mind of developers. During this interactive panel discussion, we discussed our findings with security experts who live in the developer and threat modeling space. What you will learn: 🎯 The connection between developer user stories or requirements, coding, and threat modeling. 📣 How to keep up with the ongoing discovery of software weaknesses. 👨‍💻 Practical advice for developers to stay current on threat modeling practices. Whether you are a developer, lead, architect, or threat modeler, this webinar will leave you with something to think about. Watch Now

Researchers have spotted a YouTube channel that is spreading malware. The threat actor is unknown so far. More: As the Tor Browser website is blocked in China, individuals in China often try downloading Tor from third-party websites. A channel with over 180,000 subscribers is promoting a video that redirects its viewers to a malicious file. If the file is clicked, users are led to a false TOR browser Windows installer. Researchers believe that all of the breached victims are located in China, while the video itself has over 65,000 views. The channel claims it is based in Hong Kong.

Data regulation startup Securiti has raised a $75M Series C funding round. This round was led by Owl Rock Capital. More: Other participants in the round include Mayfield and General Catalyst. Through its solution, it aims to be a one-stop shop for companies that want to be GDPR and CCPA compliant but also have strong cyber defense capacities.  In addition to the funding round, the company announced its new product named DataControls Cloud. The product helps protected data across all data hosting platforms. The startup claims its strategy of offering a universal solution has led to multiple seven and eight-figure contracts. The company was founded in 2019 and has 370 employees.

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Cybersecurity startup Tines has raised a $55M Series B funding round. Felicis led the round. More: Other participants in the round include Accel, Blossom Capital, Addition, and Lux Capital. The company is now valued at more than $300M. Tines offers a no-code platform that enables its user to create personalized workflows. The software solution uses APIs that integrate data from other software. Tines is based in Dublin, Ireland, and has over 150 employees.

Quick Hits: The 3 Things to Never Build In Your App: Authentication, Notifications, and Payments.* Field Effect Software, a Canadian company founded by a former employee of Canada's secret service, has raised $30M. The company aims to protect small businesses from hackers. Ten Eleven ventures led a $25M Series B round for Eclypsium. KOIF and J-Ventures also participated in the round. The U.S. Cybersecurity and Infrastructure Security Agency has announced that starting from April 2023, U.S. companies will have to take a series of steps, including keeping track of their assets and vulnerabilities in their network. They will have to conduct asset discovery every seven days, while all found vulnerabilities will have to be reported within 72 hours. Israel-based LayerX has raised a $7.5M Seed round led by Glilot Capital Partners. LayerX helps increase browser safety by monitoring suspicious web app activity. *This is sponsored content.

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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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Kim Kardashian, EthereumMax and the SEC's Publicity Grab

ALSO: Argentina government mines crypto, Grayscale overtakes Genesis' Bitcoin Trust and more |

October 4, 2022 The biggest crypto news and ideas of the day  Supported by Hello and welcome to The Node. I'm Daniel Kuhn, here to take you through the latest in crypto news and why it matters. In today's newsletter: Argentina's state-owned energy company moved into crypto mining, Grayscale took over a key role for bitcoin trust and other products from Genesis and the New York Fed said even "safe" stablecoins might pose a financial stability risk.   Next, I wrote about why the U.S. Securities and Exchange Commission (SEC) fined celebrity influencer Kim Kardashian.   If you were forwarded this newsletter and want to subscribe, sign up here. And click here to unsubscribe.   – D.K. Today's must-reads Top Shelf Argentina's State-Owned Energy Company Moves Into Crypto Mining: YPF, Argentina's state-owned energy company, is supplying power to an international crypto mining company with a 1 megawatt operation in southern Argentina. The company plans to launch a second project eight times larger before the end of the year. "We started to develop this generation pilot for cryptocurrency mining with a vision of sustainability and business from flare natural gas, which cannot be harnessed during exploration and at the beginning of the production of an oil field," YPF Luz CEO Martín Mandarano said. Grayscale Takes Over Key Role for Bitcoin Trust, Other Products From Genesis: Grayscale Securities, a new broker-deal division of the eponymous institutional-facing crypto firm, will now sell shares of sister company Genesis's popular crypto trusts. (Both firms, and CoinDesk, are owned by Digital Currency Group.) Grayscale is taking over this role after a tumultuous couple of months for Genesis, which was rocked by the crypto market downturn and a bad investment in failed hedge fund Three Arrows Capital. It is unclear if the new arrangement impacts plans to convert the flagship Bitcoin Trust into a regulated exchange-traded fund (ETF). The discount on GBTC shares relative to the underlying cryptocurrency held in the fund widened to a record 36.2% on Sept. 30, showing the signals of subsiding institutional interest.  Even "Safe" Stablecoins Might Pose Financial Stability Risk, New York Fed Says: The rise of Circle's USDC stablecoin is a threat to the broader financial system, according to a paper by the Federal Reserve Bank of New York. The paper, which also discussed risks of stablecoin monopolies, is the latest example of the Fed's concern over crypto market contagion risks. Meanwhile, the Treasury-led Financial Stability Oversight Council is calling for a crypto spot market regulator. Separately, the Basel Committee on Banking Supervision – a group of international regulators – is calling to increase the 1% cap they recommend for banks holding crypto, because it is "prohibitive."   Court Rules CFTC Legally Served Ooki DAO Through Help Bot: The Commodity Futures Trading Commission (CFTC) can serve a decentralized autonomous organization (DAO) a legal summons through Ooki's website help bot and forum, a judge declared. Regulators took this unique approach to announcing their lawsuit after failing to find an "undoxxed" member of Ooki. The ruling came the same day a group of crypto lawyers and developers filed to join the CFTC's case against Ooki DAO, which is accused of unlicensed derivatives trading. – Xinyi Luo  With Nexo Pro, you can do spot, margin, and futures trading, now with a 50% discount on fees. On the platform, beginners and experienced users get access to 3,000+ order books from a single interface. This guarantees you the most favorable price from over 10 liquidity providers with instant execution and near-zero price slippage.    There are 400+ crypto pairs available for which you can set up market, limit, stop loss, take profit, and TWAP orders. An API that can be used for automated trading strategies is also available.  With Nexo Pro live, you can now seamlessly transition from earning and borrowing against your crypto to trading it, and vice-versa. Get started on Nexo Pro today, and profit more by getting the best possible prices on all your trades. Putting the news into perspective The Takeaway  Kim Kardashian, EthereumMax and the SEC's Publicity Grab   Monday, before the market opened, the U.S. Securities and Exchange Commission (SEC) announced it settled with celebrity influencer Kim Kardashian for $1.26 million related to her paid endorsement of a cryptocurrency called EthereumMax. Just as when Kardashian first shilled the token in June 2021 (and failed to disclose the $250,000 she was paid to do so), the news raises the question … why? Why did Kardashian get involved in the first place, and why is the SEC fining her now?   The SEC, under Chairman Gary Gensler, is looking to send a message: Celebrities should think twice before endorsing cryptocurrencies. Kardashian, a celebrity who has built her reputation on being famous as well as ubiquitous, is a high-profile target. With a federal agency that is consistently underfunded going after this big target, the settlement serves as a warning for the crypto industry at large.   But the news also comes amid a deep market rout, where every day brings more news of crimes swept under the rug during a FOMO-fueled market rally during the COVID-19 pandemic. Three Arrows Capital, once thought to be one of the smartest hands in the game, was found to have built its fortune largely by rehypothecating borrowed funds. Alex Mashinsky, the founder and former CEO of bankrupt "neo-bank" Celsius Network was just found to be siphoning funds from Celsius. (Raymond Hall/GC Images, modified by CoinDesk)   Figures like Mashinsky and Three Arrow's Kyle Davies and Su Zhu promised much more than Kardashian and other celebrity crypto endorsers ever could. Celsius' unofficial slogan was "unbank yourself." The Three Arrows hedge fund operated under the idea of an unstoppable crypto "supercycle." Until the firm imploded under the weight of bad debt and bad bets, Celsius promised users returns of up to 20% on their crypto holdings. Mashinsky is now selling T-shirts saying, "Unbankrupt Yourself."   None of this is to excuse the role celebrities have played in pumping tokens like EthereumMax. Kardashian posted about the project on Instagram, where she had about 220 million followers at the time, making it the "financial promotion with the single biggest audience reach in history," according to outgoing U.K. Financial Conduct Authority (FCA) Chairman Charles Randell. Further, Gen Zs' second-most popular source for financial advice is social media, according to a CreditCards.com survey.    Read the full article here.   – D.K. Hex Trust is a fully licensed digital asset custodian for financial institutions and organizations. Our bank-grade platform Hex Safe™ integrates top emerging blockchains, token standards, and licensed custody services for NFTs and metaverse assets.   Institutional-grade infrastructure: providing the highest standards of protection, scalability, and compliance Monetize digital assets: accessing DeFi, staking, and other on-chain services Enter the metaverse: integrating NFTs in your business operations safely   Unlock the full potential of your digital assets. Get started Overheard on CoinDesk TV... Sound Bites "The SEC is always looking for a way to get the message out to the public and when somebody with the kind of following that Kim Kardashian has makes a blunder like this…that's a layup for the SEC."   – Lisa Bragança, former SEC enforcement branch chief, discussing the Kardashian token debacle, on CoinDesk TV's "First Mover" Starfish Finance Building Snow Forts In Crypto Winter*   As expected, the crypto market has been pretty choppy over the past few months. While we may be experiencing a crypto winter, it's important to remember that there's no such thing as a bear market in crypto. Even during the coldest days of winter, these times are more commonly known as a builder's market. Builders will harvest their crops/rewards when Spring comes. Markets are as cyclical as seasons. Good crops survive and grow stronger, it's survival of the fittest.   Without paying attention to the daily fluctuations in price, the team over at Starfish Finance have been constantly building.    Continue reading here    *This is sponsored content from Starfish. What others are writing Off-Chain Signals  Criminals have laundered $4 billion through DEXs, bridges and coin swaps: Elliptic (The Block) Mastercard pushes deeper into crypto with new tool for combating fraud (CNBC) Crypto Nomads' Wandering Ways Face a Bear-Market Reality (Bloomberg) The Investing in Digital Enterprises and Assets Summit reveals the most scalable and fastest-growing market opportunities in blockchain, digital assets, Web3 and the metaverse for traditional asset managers and institutional investors. Learn directly from the founders and developers pioneering breakthrough innovations that will drive large-scale adoption. Use code TN_20 for 20% off the General Pass. Register now. The Chaser... The Node A newsletter from CoinDesk Were you forwarded this newsletter? Sign up here. See Previous Editions Copyright © 2022 CoinDesk, All rights reserved.  250 Park Avenue South New York, NY 10003, USA See all of CoinDesk's newsletters | Opt out