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Tech

Lockbit cybercrime gang faces global takedown and arrests

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In a major operation led by Britain’s National Crime Agency and the FBI, members of the notorious Lockbit ransomware gang have been arrested and indicted.

The United States has charged two Russian nationals for deploying Lockbit ransomware against numerous companies and groups worldwide, while police in Poland and Ukraine have made two additional arrests.

The joint efforts of the NCA, U.S. Department of Justice, FBI, and Europol culminated in the disruption of the Lockbit gang, which has targeted over 2,000 victims globally, amassing over $120 million in ransom payments and demanding hundreds of millions more, according to the DOJ.

The NCA Cyber Division, in collaboration with U.S. authorities, seized control of Lockbit’s websites and infrastructure, even utilizing the gang’s own website to release internal data about the group.

Read more – Global focus to curb crypto crime

Graeme Biggar, director general of the NCA, declared, “We have hacked the hackers… Lockbit is effectively redundant. Lockbit has been locked out.”

The unsealed indictment, obtained in New Jersey, charges Artur Sungatov and Ivan Kondratyev with deploying Lockbit ransomware against victims across various industries globally.

International coalition

Operation Cronos, as the takedown was named, involved an international coalition of 10 countries.

It resulted in arrests, indictments, and sanctions against perpetrators, as well as unprecedented access to Lockbit’s systems, the NCA revealed.

Ransomware, like that employed by Lockbit, encrypts data and extorts payment from victims for decryption.

Lockbit’s affiliates, recruited by the gang, conduct attacks and share ransom proceeds, usually in cryptocurrency.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Critics voice concerns over rushed social media ban

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The Australian legislation, pushed through Parliament with 33 other bills on the last sitting day, has sparked debate due to its rapid approval and limited public consultation.

While proponents argue the ban addresses mental health issues linked to excessive social media use, critics, including cybersecurity experts, warn of potential unintended consequences, such as driving young users to unregulated platforms.

Concerns also extend to the single-day consultation period, which saw 15,000 responses, indicating the community’s deep interest in the issue.

Craig Ford, co-founder of Cyber Unicorns, joined to discuss the controversial legislation.

He advocated embedding robust cyber education in schools as a more sustainable solution, highlighting the need to foster digital literacy among young Australians.

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Temu trouble for toy market as Christmas fast approaches

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The e-commerce platforms, known for cheap fast fashion, are now doubling down on toys just in time for the holidays.

 

These apps, often dubbed “digital dollar stores,” are gaining ground with bargain-hunting shoppers.

Toys have become one of Shein’s fastest-growing categories, with double-digit sales growth year-over-year. But regulators and toy companies warn about counterfeit goods on these platforms, raising safety concerns. Products resembling Mattel’s Hot Wheels and Spin Master’s Ms. Rachel dolls have been flagged as potential knock-offs.

Despite these warnings, companies like MGA Entertainment are considering selling on these platforms to tap into their growing user base. Shein and Temu are aggressively courting sellers, offering incentives like fee waivers and expanded access.

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Decentralisation is positioned to redefine internet infrastructure

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Depin technology is empowering users, allowing individuals to own, store, and curate their own data.

Depin is redefining how the internet operates by decentralising physical infrastructure, enabling users to own, store, and control their data.

This groundbreaking approach utilises decentralised nodes to enhance speed, security, and resilience while reducing dependence on centralised providers.

The technology offers a user-powered network that removes the vulnerabilities inherent in traditional centralised systems, addressing issues like outages and censorship.

By creating a decentralised ecosystem with over 13,500 nodes globally, it builds a more robust and accessible internet experience.

The concept borrows principles from blockchain and cryptocurrencies, enabling individuals to participate directly in network management.

CEO and co-founder of Influx Technologies, Daniel Keller, joins to discuss the transformative data technology.

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