FBI seizes 48 domains / New report claims 3.5 million IP cameras are vulnerable / Apple releases security updates

Plus: Ngrok raises $50M to help companies make sure they send their data via encrypted connections

Inside.com Part of   Network December 14, 2022

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The FBI seized 48 domains and charged six people who were selling hacking tools that made it easy to launch DDoS attacks. The tools were used to target both U.S. and international citizens. More: In addition to affecting targeted victims, these attacks can significantly disrupt internet services and can completely shut down internet connections. The websites targeted in this operation were used to launch millions of actual or attempted DDoS attacks targeting victims worldwide.  Some of the domains that were seized are RoyalStresser(.)com, SecurityTeam(.)io, Astrostress(.)com, Booter(.)sx, Ipstressor(.)com, and TrueSecurityServices(.)io. One suspect was located in Texas, three in Florida, one in New York, and one in Hawaii. In addition to these arrests, the FBI, the United Kingdom’s National Crime Agency, and the Netherlands Police have launched an advertising campaign using targeted placement ads in search engines to deter cyber criminals searching for DDoS services in the United States and around the globe.

A new report claims that 3.5 million IP cameras are vulnerable, most of which are located in the U.S. The figure represents an 800% increase from 2021. More: While default security settings in these cameras have improved over the review period, some brands either offer default passwords or no authentication. Most of the public-facing cameras analyzed in the report are from the Chinese company Hikvision, which has 3.7 million devices being used around the world. As of today, 3.56% (127,000) of all analyzed cameras recommend changing the default password but do not enforce it, while over 21,000 cameras did not have an authentication setup. The report claims that there are over 458,000 vulnerable devices in the U.S., the most in the world. Vietnam is the second, with 365,000. Zoom Out: In November, the U.S. FTC banned the sale of China-made cameras and devices from Huawei, ZTE, Hytera, Hikvision, and Dahua because they pose a threat to national security, according to the agency.

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Apple has released a security update to patch a new security flaw found in macOS, iPadOS, tvOS, iOS, and Safari. The flaw is tracked as CVE-2022-42856. More: The security flaw may have been used by hackers to breach devices that used iOS versions before iOS 15.1 and extract data from devices. Researchers from Google's Threat Analysis Group believe that hackers used social engineering to gain privileged information from an employee. This update also includes end-to-end encryption capabilities for ‌iCloud‌ Backup, Notes, Photos, and more. A total of 35 flaws have been fixed with the release of iiOS and iPadOS 16.2, and 17 security holes with the release of iOS and iPadOS 15.7.2.

Ngrok raises $50M to help companies make sure they send their data via encrypted connections. Lightspeed Venture Partners led the funding round. More: Ngrok is a reverse proxy startup that aims to differentiate itself by claiming that its platform can be deployed with only one line of code. Enterprise applications usually run on multiple servers. Each server processes a portion of the network requests sent to the application. Ngrok claims that its platform enables companies to have a reliable connection so that their network doesn't crash. In addition to Lightspeed Venture Partners, Coatue also participated in the round. The company has over 30,000 clients and over 5,000,000 developers building on it. This is the company's first major funding round. Founded in 2015, Ngrok is based in San Francisco.

CISA has added five new security flaws to its vulnerabilities list. The flaws affect Microsoft, Citrix, Veeam, etc. More: CISA's vulnerabilities list is updated in real-time and includes every security flaw that agency tracks. Out of the five new flaws added, two of them are considered to be critical: CVE-2022-26500 and CVE-2022-26501. If the two flaws are abused, they could lead to arbitrary code execution and unauthorized control of the target's device. Veeam is especially targeted by hackers because it is used by 70% of Fortune 2000 companies, including companies such as Volkswagen, Siemens, Deloitte, Shell, Fujitsu, Airbus, and Puma.

Quick Hits: Customer trust is critical, but creating a continuous security process for your startup can be complex. Learn from Vanta how to enhance security without overextending your resources.* The U.S. Army is reportedly planning to implement a zero-trust cybersecurity framework as part of its modernization efforts. The organizing team behind the Paris 2024 Olympics games has held cybersecurity exercises that simulate a cyberattack to prepare for the upcoming event. The organizers said they want to avoid a cyberattack like the one that hit the Pyeongchang 2018 Olympics. Trilio (Massachusetts), which provides cloud-native data protection software, raised a $17M Series B led by SKK Ventures with participation from T-Mobile Ventures, Wayra Telefónica Innovation, Raiven Capital LP, Genesis Accel, .406 Ventures LLC, etc. The Philippines could risk losing 75% of its $23B outsourcing sector if it fails to fix its cybersecurity issues, according to this report. Recruiting tech ROI of 227%? Here’s how Okta achieves its hiring goals using Greenhouse Recruiting and Greenhouse Onboarding.* *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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Fed raises interest rate by 0.5% / Apple to allow other app stores on devices / SEC, DOJ charge social media influencers

Plus, U.S. soccer journalist Grant Wahl suffered a ruptured aortic aneurysm in Qatar.

Inside.com Part of   Network December 14, 2022

The Federal Reserve approved a 50-basis-point interest rate increase at its meeting on Wednesday. The move comes after four consecutive 0.75% rate hikes. The recent increase brings the central bank’s benchmark federal-fund rate to a range between 4.25% and 4.5%, its highest in 15 years. More: Fed Chair Jerome Powell said the Fed would consider the more traditional quarterly interest rate increases next year. November inflation numbers came in lower than expected, with CPI rising 7.1% YoY and core CPI up 6% compared to last year. Fed officials expect core CPI to fall to about 3.5% by the end of next year. Economic forecasts project a slowdown in the U.S. economy in 2023 and unemployment rising to 4.6%. November’s unemployment rate was 3.7%. U.S. stocks fell on Wednesday following the Fed’s announcements: The Dow fell 142.29 points, or 0.42%, to 33,966.35. The S&P 500 dropped 0.61% to 3,995.32, and the tech-heavy Nasdaq fell 0.76% to 11,170.89.

Apple plans to allow different app stores on its mobile devices to comply with upcoming EU requirements. According to sources, Apple is working on allowing customers to be able to download third-party software directly to their iPhones and iPads, bypassing Apple’s App Store and the platform’s up-to-30% fee on payments. More: The move comes following years of criticism of the tech giant’s App Store policies and their impact on app developers and consumers. The EU also approved new legislation called the Digital Markets Act (DMA), which aims to level the playing field for third-party developers and consumers. The DMA will go into effect in 2023; however, companies do not have to comply with the rules until 2024. Some of the upcoming requirements for technology companies noted in the DMA include the installation of third-party apps and allowing third-party developers to get equal access to core features within apps and services.

The SEC and the Justice Department have charged eight social media influencers with engaging in a $114M “pump and dump” scheme. Seven individuals were charged with using Twitter and Discord to commit securities fraud and conspiracy to commit securities fraud by the DOJ. More: The eighth influencer was charged with aiding and abetting the alleged scheme by the SEC and conspiracy to commit securities fraud by the DOJ. Prosecutors accused the group of using Twitter and Discord to manipulate exchange-traded stocks in a scheme going back to January 2020. The defendants are Perry Matlock (@PJ_Matlock), Edward Constantinescu (@MrZackMorris), Thomas Cooperman (@ohheytommy), Gary Deel (@notoriousalerts), Mitchell Hennessey (@Hugh_Henne), Stefan Hrvatin (@LadeBackk), John Rybarcyzk (@Ultra_Calls), and Daniel Knight (@DipDeity). The criminal and civil lawsuits were filed in the U.S. District Court for the Southern District of Texas.

The U.S. Commerce Department plans to add more than 30 Chinese companies to a trade blacklist that would prevent them from buying certain U.S. parts. According to sources, China’s leading memory chip maker Yangtze Memory Technologies is among those to be added to the Entity List. More: Companies added to the Entity List must get a special export license from the Commerce Department to buy tech from U.S. suppliers. Previous firms added to this list include Huawei and Semiconductor Manufacturing International Corp. During a press briefing on Wednesday, Chinese Foreign Ministry spokesman Wang Wenbin said the U.S. has politicized and weaponized economic cooperation. Wenbin added that the U.S. actions disrupt supply chains and China would take steps to protect the rights of its companies. In October, the Biden administration unveiled export restrictions to curb China’s ability to purchase advanced semiconductors and other chip-making equipment.

Delta Airlines expects a 15% to 20% increase in revenue in 2023. The airline has been optimistic about travel demand in the new year. CEO Ed Bastian said consumers are prioritizing investing in themselves and their experiences. The U.S. airline industry returned to profitability following a massive drop in demand due to the pandemic. More: Delta raised its Q4 earnings forecast to $1.35 to $1.40 a share, up from $1 to $1.25 per share, as previously stated. The airline expects a 7% to 8% increase in Q4 revenue compared to Q4 2019. Bastian said business travel at the airline is about 80% recovered compared to 2019. He added the airline is seeing solid bookings for early 2023. Delta shares closed at $34.31, up ~2.7% for the day.

The U.S. has approved Germany to purchase F-35 fighter jets from Lockheed Martin as part of military procurement projects worth €13B ($13.9B). Germany’s budget committee approved the spending, which includes funds for encrypted digital radios and assault rifles. More: The funds are from a €100B ($106B) special fund German Chancellor Olaf Scholz announced in February following Russia’s invention of Ukraine. The special fund is meant to bring Germany’s military weapons and equipment up to date. Germany plans to buy 35 F-35 stealth fighter jets and other weapons and equipment. The first eight jets are expected to be delivered in 2026. German Defense Minister Christine Lambrecht said the €100B fund might not be enough for the country to get back up to standard following years of neglect.

Quick Hits Customer trust is critical, but creating a continuous security process for your startup can be complex. Learn from Vanta how to enhance security without overextending your resources.* U.S. soccer journalist Grant Wahl, who died last week in Qatar while covering the World Cup, suffered a ruptured aortic aneurysm. Wahl’s wife, Dr. Céline Gounder, shared the findings of an autopsy performed by the New York City medical examiner’s office. Goldman Sachs is considering cutting down its bonus pool by 40%. Other banks, including JPMorgan Chase and Citigroup, are also considering cutting their investment banking pools by 30%. The SEC voted Wednesday to advance sweeping changes to the U.S. stock-market rules. The vote opens the proposed regulations for public comment until at least March 31. The new rules are expected to face opposition from brokerages and wholesalers like Citadel Securities and Virtu Financial. In its first week of release, Prince Harry and Meghan’s Netflix documentary received 81.55 million viewing hours globally, becoming the streaming giant’s biggest documentary debut. A judge has blocked wage increases for Uber and Lyft drivers imposed by the New York City Taxi & Limousine Commission. The wage increase was supposed to go into effect on Dec. 19 but has been paused until Jan. 31.  Recruiting tech ROI of 227%? Here’s how Okta achieves its hiring goals using Greenhouse Recruiting and Greenhouse Onboarding.* *This is a sponsored post.

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Vanessa Omeokachie is a writer for Inside.com; she writes the daily Inside Business newsletter. Her interests include finance, technology, and entrepreneurship. In her free time, she enjoys reading, hiking, attending concerts and music festivals, traveling, and exploring.  Connect with her on Twitter @VanessaOmeo or on LinkedIn. 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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