Connect with us

Business

Cyber Criminals Are Increasingly Helping Russia And China Target The US And Allies, Microsoft Says

Published

1 month ago

on

microsoft | Reuters Image

Washington — Russia, China, and Iran are increasingly depending on criminal networks to lead cyber espionage and hacking operations against foes such as the United States, according to a report on digital threats issued by Microsoft on Tuesday.

The growing collaboration between authoritarian governments and criminal hackers has alarmed national security officials and cybersecurity experts, who say it demonstrates the increasingly blurred lines between actions directed by Beijing or the Kremlin to undermine rivals and the illegal activities of groups typically more interested in financial gain.

In one case, Microsoft analysts discovered that a criminal hacking gang linked to Iran penetrated an Israeli dating site and attempted to sell or ransom the personal information it gathered. Microsoft found that the hackers had two motives: to shame Israelis and to gain money.

microsoft

Cyber Criminals Are Increasingly Helping Russia And China Target The US And Allies, Microsoft Says

In another case, investigators discovered a Russian criminal network that entered more than 50 electronic devices used by the Ukrainian military in June, ostensibly seeking access and intelligence to aid Russia’s invasion of Ukraine. Aside from any cash received from Russia, the group had no evident financial objective.

For countries like Russia, China, Iran, and North Korea, which have their own ties to hacking groups, collaborating with cybercriminals provides a convenient solution that benefits both parties. Governments can increase the number and efficacy of cyber actions without incurring additional costs. For criminals, it opens up new options for profit while also promising government protection.

“We’re seeing in each of these countries this trend towards combining nation-state and cybercriminal activities,” said Tom Burt, Microsoft’s vice president of consumer security and trust.

So far, there is no proof that Russia, China, or Iran are sharing resources or collaborating with the same criminal networks, Burt stated. However, he added the expanding use of private cyber “mercenaries” demonstrates how far America’s adversaries will go to weaponize the internet.

Microsoft’s analysis examined cyber threats between July 2023 and June 2024, focusing on how criminals and foreign governments use hacking, spear phishing, malware, and other ways to obtain access and control of a target’s system. According to the corporation, its consumers experience around 600 million such instances each day.

Russia concentrated much of its cyber activities on Ukraine, attempting to obtain access to military and government networks and spreading disinformation to erode support for the conflict among its supporters.

Ukraine has replied with its own cyberattacks, including one last week that brought some Russian official media outlets offline.

Networks linked to Russia, China, and Iran have also targeted American voters, spreading false and misleading information about the 2024 election via phony websites and social media accounts. Analysts at Microsoft agree with US intelligence officials who think Russia is targeting Vice President Kamala Harris’ campaign, while Iran is seeking to defeat former President Donald Trump.

Iran has also hacked Trump’s campaign in a failed attempt to pique the attention of Democrats in the material. Federal officials have also accused Iran of surreptitiously financing American protests against the Gaza war.

As election day approaches, Russia and Iran are likely to step up their cyber activities against the United States, according to Burt.

Meanwhile, China has mostly avoided the presidential contest, focusing its disinformation efforts on down-ballot races for Congress or state and municipal politics. Microsoft discovered that networks related to Beijing continue to target Taiwan and other nations in the area.

Cyber Criminals Are Increasingly Helping Russia And China Target The US And Allies, Microsoft Says

In response, a spokeswoman for China’s embassy in Washington stated that charges that China collaborates with hackers are false and accused the US of disseminating “disinformation about the so-called Chinese hacking threats.”

In a statement, spokesman Liu Pengyu stated, “Our position is consistent and clear.” China strongly condemns and combats all types of cyber assaults and theft.

Russia and Iran have also denied allegations that they use cyber operations to target Americans. Messages left with spokespeople from those three countries and North Korea were not immediately returned on Monday.

Efforts to disrupt foreign misinformation and cyber capabilities have grown in tandem with the threat, but the anonymous, porous character of the internet can sometimes undermine the effectiveness of the response.

Federal authorities recently revealed measures to take hundreds of internet domains used by Russia to promote election disinformation and facilitate hacking activities against former US military and intelligence officials. However, analysts from the Atlantic Council’s Digital Forensic Research Lab discovered that webpages taken by the government can be readily rebuilt.

Within one day after the Department of Justice taking multiple domains in September, analysts discovered 12 new websites that had been launched to replace them. They are still operating one month later.

SOURCE | AP

Related Topics:
Continue Reading

Business

Forced Sale Google Chrome Could Fetch $20 Billion

Published

8 hours ago

on

2024-11-21

By

Sale Google Chrome

Antitrust officials in the US could force the sale of Google’s Chrome browser for up to $20 billion, demonstrating the tremendous worth of the world’s most popular web browser.

Bloomberg Intelligence attributes Chrome’s projected worth to its more than 3 billion monthly active users. The US Department of Justice is preparing to request a federal judge order the browser’s separation from Google’s parent company, Alphabet.

Chrome’s worth comes from its overwhelming 61% market share and its crucial role in Google’s advertising ecosystem. User data enables businesses to better target adverts, and the browser also acts as an important distribution mechanism for Google’s AI technologies.

Industry analysts think it may be difficult to find a suitable buyer. While tech behemoths like Amazon could finance the purchase, they would likely face regulatory scrutiny.

AI businesses, such as OpenAI, may emerge as more viable contenders. They could potentially leverage Chrome to broaden their reach and develop an advertising business.

“It’s not directly monetizable,” one analyst told Bloomberg. “It functions as a gateway to other things. It’s unclear how you would assess that in terms of pure revenue generation.”

Google opposes prospective sales, claiming that they will hamper innovation. The firm does not break out Chrome’s revenue individually in its financial filings, even though the browser’s user data plays an important part in the company’s principal revenue stream, advertising.

The DOJ’s suggestion follows Judge Amit Mehta’s August decision that Google had illegally monopolized the search industry. The judge will consider the recommended remedies at a two-week hearing in April 2024, with a final judgment due in August 2025.

Related News:

Appeals Court Delays Order For Google To Open Its App Store In Antitrust Case

Appeals Court Delays Order For Google To Open Its App Store In Antitrust Case

Continue Reading

Business

Bitcoin Has Set a New Record And Is Approaching $100,000.

Published

17 hours ago

on

2024-11-21

By

Bitcoin

(VOR News) – Bitcoin broke beyond the $98,000 mark for the first time on Thursday as investors awaited Donald Trump’s second term as president. All of this happened during the day. As such, cryptocurrency has reached a significant turning point.

According to Coin Metrics, the top cryptocurrency was trading at $97,541.61 during the most recent trading session. Merchants provided this information. This suggests a price gain of more than three percent during the previous trading session.

When the period began, Bitcoin peaked at $98,367.00.

During the premarket trading session, MicroStrategy, a platform that facilitates cryptocurrency foreign exchange trading and serves as a bitcoin proxy, saw a 13% gain. Coinbase, on the other hand, had a 2% rise during that period. Furthermore, all of these increases occurred simultaneously.

The market value of Mara Holdings increased by 9%, which helped raise the valuation of mining companies overall. This was among the factors that led to the total rise.

Because of the widespread belief that President Trump will usher in a new era of prosperity for cryptocurrencies, one marked by more favorable laws and the possible creation of a national strategic bitcoin reserve, the price of Bitcoin has been rising steadily this month.

The most recent change brought about by the increase was the consequence of higher financing rates and more open interest in the futures market during Asian trading hours. The rise was the catalyst for this change. This action was prompted by the ensuing rush.

Throughout its lifespan, this legislation was the catalyst for this change for a variety of reasons. At the same time, spot market premiums decreased, according to CryptoQuant statistics. All of this happened at the same time.

Furthermore, a number of short liquidations have been sparked by the recent spikes in Bitcoin’s price, which has caused the price to rise overnight. As a result, the price has gone up much more. As a result, the total number of short liquidations has increased.

According to CoinGlass, these liquidations have effectively produced more than $88 million in capital during the last 24 hours.

Rob Ginsberg, an analyst at Wolfe Research, noted in a study released on Wednesday that “historically, following previous movements of this magnitude, Bitcoin has either entered a consolidation phase or disregarded the overbought condition as investors accumulate.” This phrase relates to the fact that this particular move has happened before.

Ginsberg stated this in reference to the evolution of Bitcoin over time.

Ginsberg’s answer makes reference to Bitcoin’s propensity to go through a period of consolidation. The comment also made reference to this.

He said, “Considering we are emerging from an extended consolidation phase and the price has reached a new high, it suggests that the pursuit is underway.”

The crucial psychological milestone of $100,000 is expected to be reached in the upcoming weeks, and this breakthrough could happen as early as Thursday. It seems likely that this level will be reached. There is a chance that this new development will take place.

This task will be carried out against the backdrop of this historical era. In addition, if Trump were to win a second term, federal budget deficits would increase, inflation would likely increase, and the dollar’s position in international affairs would change.

The administration that Trump would run during his presidency would be responsible for these consequences. All of these characteristics would positively impact the value of Bitcoin as a currency if they were taken into account in the order that they are presented.

The price of bitcoin had risen by more than 130% by the beginning of 2024.

SOUREC: CNBC

SEE ALSO:

PayPal’s Technical Challenges Are Affecting Thousands Of Customers Globally.

NVIDIA’s Earnings: The Leader In AI Chips Demonstrates Relentless Growth.

 

Continue Reading

Business

Target Struggles in the Third Quarter: Offers Tempered Holiday Outlook and Price Cuts

Published

2 days ago

on

2024-11-20

By

Target

(VOR News) – Target experienced a modest rise in sales during the third quarter; nevertheless, profitability declined due to reduced customer spending attributed to inflation and adverse effects from the ongoing costs associated with the October dockworker strike.

Despite ongoing consumer expenditure in the United States, but with more prudence, the Minneapolis retailer did not meet Wall Street’s forecasts for the quarter and similarly disappointed industry analysts with its projections for the final quarter of the year.

Target’s reduction in prices for Christmas products, including a Thanksgiving promotion that lowered the cost of the holiday feast relative to last year’s total, raises concerns about disappointing quarterly results.

Target’s latest quarter sharply contrasts with competitor Walmart, which reported another quarter of exceptional revenues on Tuesday and provided positive forecasts for the forthcoming holiday season. Amazon disclosed last month that its quarterly profits had risen. Amazon surpassed projections with an 11% rise in quarterly revenue.

Target fell over 21% on Wednesday morning.

Chairman and CEO Brian Cornell stated, “We encountered distinct challenges and financial constraints that impacted our overall performance.”

FactSet reports that Target’s net income for the quarter ended November 2 was $854 million, or $1.85 per share, markedly below the anticipated $2.30 and a decline from $971 million, or $2.10 per share, in the same quarter of the previous year.

Despite an increase in sales to $25.67 billion from $25.4 billion the previous year, they fell short of Wall Street’s projections.

Target announced that for the fiscal fourth quarter, it anticipates earnings per share to fall between $1.85 to $2.45. This amount is below the $2.65 per share forecast by analysts surveyed by FactSet.

The retailer announced that in the third quarter, its comparable sales, derived from stores and digital platforms operational for a minimum of one year, increased by 0.3%.

This is inferior to the second quarter’s 2% growth. Several months of decreases, comprising a 3.7% reduction in the first quarter and a 4.4% reduction in the company’s final quarter of 2023, were counterbalanced by the rise in the April–June period.

Cosmetics sales rose by almost 6%, whilst food, beverages, and necessities such as shampoo experienced gains in the low single digits relative to the previous year.

The positive attributes were negligible. Target’s quarterly customer traffic rose by 2.4%. Target officials report that this represents an increase of 10 million sales transactions compared to the previous year. Digital comparable sales rose by 10.8% due to a 20% enhancement in same-day delivery facilitated by the Target Circle loyalty program and double-digit growth in its drive-up service.

Target encountered several challenges.

Target’s food and beverage sales constitute under 25% of overall sales, indicating a greater dependence on luxury items such as apparel and accessories.

Target management acknowledged that the company, similar to other retailers, had to redirect specific items due to the strike of 45,000 dockworkers, the first occurrence since 1977.

The accumulation of commodities in warehouses escalated operational expenses and diminished corporate earnings.

The commitment by President-elect Donald Trump to impose elevated import tariffs is resulting in difficulties for Target and other enterprises. Trump advocates for a 60% tariff on Chinese imports and a 20% levy on all other products. Cornell stated that, despite monitoring trends meticulously, the corporation has prioritized diversifying its supplier network.

“Currently, there exists considerable uncertainty regarding future developments, and we will exercise our flexibility to adapt as necessary,” he stated on the call.

Buyers remain apprehensive due to ongoing uncertainty, as prices, albeit decreasing, remain elevated compared to a few years prior.

“They are exhibiting significant patience, pursuing promotions and outstanding value on essential pantry items,” Cornell stated during a conference call with reporters. “Over the year, they have consistently focused on discretionary categories and are practicing prudent shopping behaviors.”

Target officials indicated a decline in television purchases, although they expressed interest in incorporating candles, frames, and flowers into their home décor.

Target has been reducing prices to boost sales. Last spring, it reduced costs for numerous essentials, including milk and diapers. Almost fifty percent of the numerous goods offered this Christmas are priced below $20. Target is offering a Thanksgiving dinner bundle for four people at $20, which is $5 less than its 2023 Thanksgiving meal package.

SOURCE: USN

SEE ALSO:

Comcast Is Expected To Announce Its Cable Network Separation On Wednesday.

Canada’s Budgetary Watchdog Warns Over Trudeau’s Spending

Continue Reading

Trending