Webtagr - Technology News Summarizer

Abracadabra Finance Suffers $13M Crypto Hack; Tornado Cash Connection?

2025-04-08

Decentralized finance (DeFi) platform Abracadabra Finance was hit with a hack resulting in the loss of approximately $13 million in cryptocurrency. The attack targeted the platform's isolated lending markets, known as "cauldrons." The exploit went undetected until the attacker executed multiple transactions. Abracadabra Finance is investigating with security firms and is offering a 20% bounty on the stolen funds. Some security firms link the attack to decentralized exchange GMX, though GMX denies involvement. Investigators suspect the funds used in the attack originated from Tornado Cash, recently desanctioned by the US Treasury.

(therecord.media)

Tech

EU Unveils ProtectEU: A New Internal Security Strategy

2025-04-02

The European Commission launched ProtectEU, a new internal security strategy addressing evolving threats. Key aspects include bolstering Europol into a fully operational police agency, tackling lawful access to data and encryption (a controversial move), and improving intelligence sharing via the EU's Single Intelligence Analysis Capacity (SIAC). The strategy acknowledges existing shortcomings in situational awareness and implementation of cybersecurity laws. Success hinges on member states' political will and cooperation, given the historically sovereign nature of national security matters.

(therecord.media)

Tech EU Security Data Access

FTC Warns: 23andMe Sale Must Honor Privacy Promises

2025-04-01

FTC Chair Andrew Ferguson warned the Department of Justice that any purchaser of 23andMe must uphold its existing privacy policy protecting users' genetic and other data. The FTC highlights 23andMe's promises: user control over data, the ability to delete data, and assurances against sharing data with insurers, employers, or law enforcement without legal warrants. Ferguson emphasizes that these promises, explicitly stated in 23andMe's privacy policy, must be honored even in bankruptcy, given the sensitive and immutable nature of genetic data. The FTC stresses the importance of consumer trust in data protection.

(therecord.media)

Tech genetic data

Ransomware Payments Plummet 35%, Signaling Ecosystem Collapse?

2025-02-07

A new report by Chainalysis reveals a 35% drop in ransomware payments in 2023, from $1.25 billion to $812.55 million. This significant decline, largely concentrated in the second half of the year, is attributed to law enforcement crackdowns on major ransomware groups like LockBit and the exit scam by AlphV/BlackCat, eroding victim trust in paying ransoms. Despite this, ransomware attacks remain prevalent, with critical infrastructure still under significant threat.

(therecord.media)

Tech

Pro-Ukraine Hackers Hit Russia's Biggest State Procurement Platform

2025-01-16

A pro-Ukraine hacking group, Yellow Drift, claimed responsibility for a cyberattack on Roseltorg, Russia's largest electronic trading platform for government and corporate procurement. The group allegedly deleted 550 terabytes of data. While Roseltorg initially attributed the outage to maintenance, they later confirmed the attack, stating data and infrastructure have been restored. The attack impacted major Russian corporations and government agencies, including the Ministry of Defense and Roskomnadzor. This incident highlights the ongoing cyberwar between Russia and Ukraine and the potential disruptive impact of cyberattacks on critical infrastructure.

(therecord.media)

Tech cyberattack Russia-Ukraine conflict