Lifeboat Foundation

Since late 2013, this band of cybercriminals has penetrated the digital inner sanctums of more than 100 banks in 40 nations, including Germany, Russia, Ukraine, and the U.S., and stolen about $1.2 billion, according to Europol, the European Union’s law enforcement agency. The string of thefts, collectively dubbed Carbanak—a mashup of a hacking program and the word “bank”—is believed to be the biggest digital bank heist ever. In a series of exclusive interviews with Bloomberg Businessweek, law enforcement officials and computer-crime experts provided revelations about their three-year pursuit of the gang and the mechanics of a caper that’s become the stuff of legend in the digital underworld.

Carbanak’s suspected ringleader is under arrest, but $1.2 billion remains missing, and his malware attacks live on.

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The attack on Rockport is one example in a rising tide of similar invasions of municipal systems across the U.S.—from major cities like Atlanta, which got hit in March, to counties, tiny towns and even a library system in St. Louis. Local governments are forced to spend money on frantic efforts to recover data, system upgrades, cybersecurity insurance and, in some cases, to pay their online extortionists if they can’t restore files some other way.

Hackers are targeting small towns’ computer systems, with public-sector attacks appearing to be rising faster than those in the private sector. Online extortionists demand bitcoin ransom in return for decryption keys.

As the Equifax hack last year showed, there’s a lack of legislation governing what happens to data from a breach. And ultimately, a breach of genetic data is much more serious than most credit breaches. Genetic information is immutable: Vigna points out that it’s possible to change credit card numbers or even addresses, but genetic information cannot be changed. And genetic information is often shared involuntarily. “Even if I don’t use 23andMe, I have cousins who did, so effectively I may be genetically searchable,” says Ram. In one case, an identical twin having her genetic data sequenced created a tricky situation for her sister.

This week, DNA testing service MyHeritage revealed that hackers had breached 92 million of its accounts. Though the hackers only accessed encrypted emails and passwords — so they never reached the actual genetic data — there’s no question that this type of hack will happen more frequently as consumer genetic testing becomes more and more popular. So why would hackers want DNA information specifically? And what are the implications of a big DNA breach?

One simple reason is that hackers might want to sell DNA data back for ransom, says Giovanni Vigna, a professor of computer science at UC Santa Barbara and co-founder of cybersecurity company Lastline. Hackers could threaten to revoke access or post the sensitive information online if not given money; one Indiana hospital paid $55,000 to hackers for this very reason. But there are reasons genetic data specifically could be lucrative. “This data could be sold on the down-low or monetized to insurance companies,” Vigna adds. “You can imagine the consequences: One day, I might apply for a long-term loan and get rejected because deep in the corporate system, there is data that I am very likely to get Alzheimer’s and die before I would repay the loan.”

Continue reading “Why a DNA data breach is much worse than a credit card leak” »

S cientists have created the UK’s first ever “unhackable” fibre network in anticipation of the dawn of quantum computers, a technology that could render current security systems completely useless and leave critical infrastructure, banking and healthcare networks open to hackers.

The network, constructed by researchers from BT, the University of York and the University of Cambridge over the past two years, is secured by the laws of quantum physics which dictate how light and matter behave at a fundamental level. Using this, it is able to block anyone attempting to crack into the fibre link.

This could be a game changer for the healthcare and financial sector, when it is feared existing encryption…

Continue reading “Britain’s first ‘unhackable’ internet network may solve quantum computing threat” »

In a profound talk about technology and power, author and historian Yuval Noah Harari explains the important difference between fascism and nationalism — and what the consolidation of our data means for the future of democracy. Appearing as a hologram live from Tel Aviv, Harari warns that the greatest danger that now faces liberal democracy is that the revolution in information technology will make dictatorships more efficient and capable of control. “The enemies of liberal democracy hack our feelings of fear and hate and vanity, and then use these feelings to polarize and destroy,” Harari says. “It is the responsibility of all of us to get to know our weaknesses and make sure they don’t become weapons.” (Followed by a brief conversation with TED curator Chris Anderson)

Check out more TED Talks: http://www.ted.com

Continue reading “Why fascism is so tempting -- and how your data could power it” »

E xperts are suggesting quantum computing may render blockchain obsolete. As the tech giants such as Google and IBM are showing interest in Quantum computing the danger is evident. According to MIT Technology Review, this type of computing can hack the cryptography hash that universally secures the blockchain and in general the internet. This would suggest quantum computers may complete fraudulent transactions and steal coins. With its exponential power, quantum computers threaten blockchain’s future security.

Blockchain consists of encrypted nodes connected on a chain, which currently makes it almost impossible to hack. The order of entries adheres to the blockchain protocol, which makes it counterfeit-resistant.

To successfully hack a blockchain, you would need to alter both the targeted block and all of the blocks connected. Blockchains are synced throughout a peer-to-peer network. In this type of system, there is no central point of failure for hackers to penetrate. For a hacker to have a chance of penetrating the network, they would need to simultaneously alter at least 51% of the blockchain.

Continue reading “Quantum Computing: Is it the end of blockchain?” »

Pichai’s challenge is to find a way of reconciling Google’s dovish roots with its future. Having spent more than a decade developing the industry’s most formidable arsenal of AI research and abilities, Google is keen to wed those advances to its fast-growing cloud-computing business. Rivals are rushing to cut deals with the government, which spends billions of dollars a year on all things cloud. No government entity spends more on such technology than the military. Medin and Alphabet director Schmidt, who both sit on the Pentagon’s Defense Innovation Board, have pushed Google to work with the government on counter-terrorism, cybersecurity, telecommunications and more.

To win in the business of cloud computing, the company tiptoes into the business of war. Some staff fear it’s a first step toward autonomous killing machines.

Computer security specialists must understand the beast they are up against before they can hope to defeat it.

If cybersecurity experts are to combat malevolent artificial intelligence, they will need to know how such a system can emerge, say computer scientists.