Money
Russian ‘REvil gang’ hackers demands $70M Bitcoin ransom payout
The group behind the recent Kaseya cyber attack is asking for a $70M ransom in Bitcoin for a ‘universal decryptor’ key
The Russian hacking group REvil has published a blog post on the dark web taking credit for the audacious cyber attack on MSP providers in the US which they claim affected over a million systems.
They also called on ‘anyone willing to negotiate’ for a ‘universal decryptor’, offering to list the key publicly if someone pays the ransom.
“Everyone will be able to recover from the attack in less than an hour,” the post read.
Will the companies pay the ransom?
The general advice from cyber-security experts is to not pay hackers to retrieve their data, because it encourages future attacks.
However, John Hammond from Huntress Labs doesn’t believe the situation is so simple. The cybersecurity firm Huntress Labs Inc is leading the investigation into the attack.
“This is an extremely intricate and tough situation,” he said in a private Twitter message to Ticker reporters.
“You have to make the decision that is best for your business,” he said.
The Kaseya cyber attack
The attack targeted more than 20 managed service providers (MSP). Yesterday, Huntress Labs anticipated the hack had affected more than 1000 businesses, which expectations that the figure would grow based on reports from the providers and a Reddit thread tracking the hack.
“It’s reasonable to think this could potentially be impacting thousands of small businesses,” tweeted John Hammond from Huntress Labs. Hammond says the attack targeted a software supplier called Kaseya.
Biden has sinced called for US intelligence to conduct a “deep dive” into the attacks. “We’re not sure it’s the Russians,” he said. “The initial thinking was, it was not the Russian government, but we’re not sure yet.”
Sweden closes up shop
Another victim of the attack is Sweden, which has seen around 500 supermarkets unable to trade.
Coop Sweden has closed half of its 800 stores after its point-of-sale tills and self-service checkouts stopped working just before the weekend.
The supermarket itself was not targeted by hackers. However, because it uses on of the affected MSPs it too has fallen victim to the attack.
Cybersecurity becomes and international security issue
This comes as the latest in a string of ransomware attacks in recent months, including the attack on JBS. Experts have also attributed the JBS attack to the REvil cyber gang.
It also comes shortly after President Joe Biden signed an executive order to strengthen cybersecurity defences across the US.
Money
U.S. and China approve TikTok sale to American investors
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
The United States and China have officially approved a deal for TikTok’s US operations to be sold to American investors, led by Oracle and Silver Lake.
This marks a major shift in the social media landscape as the platform navigates increasing regulatory scrutiny.
Under the new agreement, ByteDance will retain just under 20% of TikTok US, while Oracle and Silver Lake will each take 15% stakes. Other investors will also participate, forming a structure designed to satisfy both commercial and regulatory demands.
The new US-based entity will have a majority American board tasked with overseeing data protection and content moderation. Despite these safeguards, concerns remain about ByteDance’s influence and whether the deal fully complies with recent legislation.
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#TikTokSale #USChinaDeal #Oracle #SilverLake #ByteDance #TechNews #SocialMedia #DataProtection
Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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