Tech

Facebook Owner Fined 251 Million Euros For a Data Leak In 2018.

Published

2 days ago

2024-12-17

Salman Ahmad

(AP Photo/Jeff Chiu, File)

(VOR News) – On Monday, the European Union’s privacy watchdog voted to punish Facebook owner Meta 251 million euros after looking into a 2018 data breach that exposed millions of accounts on the social media site.

After the European Union concluded that the breach had occurred, an investigation was carried out.

The completion of the probe marked the pinnacle of the investigation. The inquiry was conducted in reaction to the circumstances, given that millions of accounts were compromised.

The sanctions were imposed by the Data Protection Commission of Ireland in order to deter future violations at the conclusion of its investigation into the infraction. It was the commission that conducted the full investigation and was in charge of it.

The issue that occurred was ultimately brought on by hackers taking advantage of holes in the platform’s code that gave them access to user accounts. A consequence of the exploited flaws was that the hackers obtained digital keys, also known as “access tokens.”

The Irish watchdog is Meta’s principal privacy regulator.

This is because the European Union (EU) has implemented strict privacy restrictions. The EU’s implementation of these limits is the reason for this.

This decision was taken because Dublin serves as the location of the company’s regional offices, which is the justification for choosing this location. Because of the Facebook location’s selection, this decision was made.

The watchdog discovered several violations of the rules, often known as the General Data Protection Regulation, and responded by imposing reprimands and “administrative penalties” totalling 251 million euros ($264 million). In the course of the watchdog’s inquiry, these infractions were found.

These penalties were applied as a consequence of the recurring infractions that were discovered. These violations were found during the initial inquiry by the watchdog. When the verdict is formally published, the firm has stated that it will attempt to appeal it, according to an announcement.

The incident that serves as the foundation for this interpretation is an incident that happened in 2018 and serves as the inspiration for this statement.

The corporation had stated in a statement released to the public that “We took immediate action to fix the problem as soon as it was identified.” The company also claimed to have “proactively informed people impacted” about the issue that had occurred.

This declaration was made with the Irish Facebook watchdog.

Facebook stated that some 50 million user accounts were impacted by the problem when it first made the problem public. Facebook made this information available to the public for the first time. According to the Irish watchdog, the real figure was probably close to 29 million, with three million of those people living in Europe. The availability of this information was on Tuesday.

When the corporation discovered the defect, it promptly informed the Federal Bureau of Investigation and the U.S. and European regulatory bodies. This was completed simultaneously. At the time, regulatory bodies were also found all over Europe.

Three separate issues that happened at the same time affected Facebook’s “View As” feature during the attack. All of these issues were presented simultaneously. By using this feature, users can alter their profiles and see how they seem to others.

The accounts of people whose profiles were shown as a result of searches conducted using the “View As” function were used to gather access tokens. The purpose of these searches was to find a certain person.

All of the individuals who were in charge of executing the attacks exploited the vulnerability to obtain access tokens from the accounts of the targeted users. After that, the attack shifted from one Facebook user’s friend to another user’s friend. This went on till it arrived at its destination.

This specific event occurred almost quickly following the first attack. If such tokens were in the hands of an opponent, the adversary could take over the accounts they were trying to access.

SOUREC: AP

China Begins To Investigate Nvidia And Accuses The Company Of Violating Its Anti-Monopoly Rule.

Tech

Nukkleus Acquires Star 26 Capital Inc., Marking a Strategic Shift.

Published

2 days ago

2024-12-17

Salman Ahmad

(VOR News) – A major strategic change has been made when Nukkleus Inc., a fintech business that specialises in digital financial technology, stated that it has paid $26 million to acquire a controlling 51% position in Star 26 Capital Inc.

Israel’s prestigious Iron Dome missile defence system is mostly supplied by RIMON, which Star 26 Capital owns a 95% controlling interest in.

With this acquisition, Nukkleus is expanding from its finance roots into the defence industry, interacting with a rapidly growing industry driven by shifting demands for global security. As businesses look into high-growth industries to improve their market position, the activity aligns with broader trends in strategic diversification.

The Role of Star 26 Capital in the World’s Defence Infrastructure

Through its full ownership in RIMON, Star 26 Capital Inc. plays a crucial role in Israel’s defence infrastructure. The Iron Dome missile defence system, a well acknowledged technology that has successfully saved civilian lives during rising regional tensions, depends heavily on RIMON.

The Iron Dome is renowned for its advanced radar and interceptor systems, which provide outstanding protection from artillery shells and short-range rockets.

Along with the Iron Dome, RIMON has made a name for itself as a key supplier of systems and components for other defence applications.

Their goods include masts, tactical vehicle solutions, specialist generators, and contemporary lighting systems—all crucial for security and military operations. The company operates through exclusive contracts and alliances, which increase its competitiveness in the market.

Nukkleus’s Strategic Justification

The purchase of Star 26 Capital by Nukkleus demonstrates a calculated diversification strategy. This move highlights the company’s goal to leverage emerging opportunities in defence technology, even though finance and digital assets are essential to its operations.

“The acquisition of Star 26 Capital represents a significant milestone, allowing us to enter the rapidly growing defence technology industry,” said Emil Assentato, CEO of Nukkleus. Because of its proven track record of providing vital defence solutions, RIMON is the best partner for us as we work to create long-term value for our investors.

Through this strategic move, Nukkleus is able to profit from the growing global defence budget, which has been exacerbated by regional conflicts, geopolitical instability, and increased security concerns.

By purchasing a share in Star 26 Capital, Nukkleus gains access to cutting-edge technologies and strengthens its position in a prominent international defence industry.

The process of diversification In Light of Changing Market Dynamics

Nukkleus has purposefully diversified its assets during the past year. In order to bolster its position in international financial markets, the company previously inked a term sheet to acquire Mercury Global, a cross-border payments provider.

By acquiring Star 26 Capital, Nukkleus is showcasing a well-rounded expansion strategy by leveraging both financial and defence technologies to increase its footprint.

Star 26 Capital will provide Nukkleus with a significant revenue stream outside of traditional fintech markets thanks to its involvement in the development of tactical vehicles, exclusive contracts for cutting-edge components, and vital contribution to defensive infrastructure.

The Future of Star 26 Capital and Nukkleus

Through the deal, Nukkleus’s financial expertise and Star 26 Capital’s technological know-how may work together more effectively.

Nukkleus is capable of researching financial innovations created especially for military supply chain management, defence contract procurement, and safe international payment options. In an increasingly digital environment, this integration may revolutionise the operational and transactional administration of defence companies.

According to industry analysts, Nukkleus made a bold and wise move by entering the defence market. With the growth of international defence markets and the increasing need for technologies like the Iron Dome, Nukkleus is well-positioned to benefit from this diversification strategy in the long run.

Final evaluation

The purchase of a majority stake in Star 26 Capital and, by extension, RIMON by Nukkleus Inc. represents a significant milestone in the company’s development.

Nukkleus has demonstrated its ability to identify and seize high-growth opportunities by moving from the financial sector to the defence technology sector. This deal strengthens Star 26 Capital’s position as a major player in the global defence ecosystem by providing new avenues for growth and innovation.

By strategically acquiring Star 26 Capital, Nukkleus demonstrated its proactive approach in the military technology space and opened the door for future expansion and influence in a number of industries.

SOURCE: AL

Trudeau’s Government in Shambles as Ministers Resign

Tech

Meta Foundation Donates $1 Million to the Donald Trump Inaugural Fund.

Published

7 days ago

2024-12-12

Salman Ahmad

(VOR News) – One million dollars was contributed to the Meta establishing fund of Donald Trump, who is going to become the next president of the United States of America.

This donation came from Meta Platforms Inc. For the purpose of re-establishing a constructive relationship with the administration following a challenging history, this contribution was made as part of an effort to do so.

The donation, which comes after a dinner in November between President Trump and Chief Executive Officer Mark Zuckerberg at the Mar-a-Lago club of the vice president-elect, is not something that Meta put together for President Joe Biden or for Trump’s inauguration in 2016. Remember that Meta did not produce the gift on either of these occasions.

This is an extremely important point to keep in mind.

While the conversation was going on, a representative from Meta acknowledged the donation, which was something that The Wall Street Journal had previously disclosed. The agent, on the other hand, declined to provide any other information regarding the donation.

During his first two campaigns for the presidency, Donald Trump made great use of social media platforms such as Facebook and Instagram.

Meta is the owner of both Instagram and Facebook, which are also different websites. Nevertheless, his accounts were terminated as a consequence of the incident that took place at the United States Capitol on January 6, 2021.

Because Meta was concerned that Trump could instigate further violence by denying that Biden had won the election, they decided to suspend his accounts. Because of this reason, these accounts were taken down altogether.

Even after his accounts were restored in 2023, Trump continued to publicly voice his discontent with Zuckerberg’s treatment of him, which he considered to be unfair. It seemed to him that Zuckerberg had handled him in an unfair manner.

Zuckerberg may be indicted after Trump called Meta the “enemy of the people” in March.

Since then, Zuckerberg has sent a petition to Trump, which is now being accepted by a greater number of people. In light of the fact that he was on the verge of being murdered, he responded to Trump’s comments by referring to himself as a “badass.”

Additionally, he apologised to the president-elect over the phone during the summer of last year for mistaking photographs of Trump for fact checks. In order to accomplish this, he called the leader who had just been elected president.

Since Trump has returned to the White House, a number of major business leaders and venture capitalists have made efforts to improve their ties with him, despite the fact that they had previously voiced their disdain of him.

Previous to this, they had voiced their disapproval of Trump in the past. A member of this group is Mark Zuckerberg, the man who established Facebook.

During the time period following the election in 2016, Meta only provided modest financial support to a limited number of state-level groups and candidates. The inaugural gift of seven figures is a key turning point for the corporation, given the enormous shift that has occurred in the organization’s financial condition.

One of the issues that surfaced after Trump’s first victory in the White House was the allegation that the corporation allowed Russian agents to influence the election by putting advertisements on the social media platform that criticised Hillary Clinton, who was Trump’s Democratic opponent. Clinton was a former secretary of state.

Specifically, this accusation asserts that the company allowed Russian actors to influence the outcome of the election. During this time period, the company, which was formerly located under the name Facebook, Inc., became involved in a number of controversial issues.

On top of that, the Trump campaign’s use of Facebook throughout the 2016 election campaign was subject to criticism. Additionally, in an effort to minimise the number of people who voted for Clinton, it utilised its audience targeting capabilities to broadcast advertising that were hostile to a specific population.

These advertisements were tailored to the audience in question. It was the primary objective of the platform, which was developed in order to do this, to solicit financial support from contributors who made very little contributions.

SOURCE: YN

Google Search Is Set To Undergo Significant Evolution By 2025. Sundar Pichai

Tech

China Begins To Investigate Nvidia And Accuses The Company Of Violating Its Anti-Monopoly Rule.

Published

1 week ago

2024-12-09

Salman Ahmad

Justin Sullivan / Getty Images

(VOR News) – China’s claim that the American chipmaker Nvidia violated China’s anti-monopoly law is a move that is likely to further complicate the already tense business relations between the United States and China.

China was the one that made this charge. The day this accusation was made was Monday. This statement is made as Donald Trump, the president-elect, prepares to assume office and accept office for a second term in the United States of America.

According to the Chinese state market regulatory body’s statements, it seems that the investigation is focused on Nvidia’s 2019 purchase of Mellanox. Mellanox is a multinational supplier of computer and networking equipment.

The Chinese government has already approved the acquisition before 2020, but only after a number of conditions were fulfilled.

A spokesperson for Nvidia did not respond to a comment request.

The spokesperson was notified of the request. The company’s shares had already lost over three percent of their value over the previous trading day when the markets opened on Monday. Prior to the first trading session, this loss took place.

Joe Biden, the former vice president who oversaw the implementation of these trade restrictions, imposed a new set of export limitations for semiconductors made in the United States. These limitations were put in place during his rule and remain in place today.

The public was given access to this material a week ago. It is highly likely that China will be unable to utilise these chips in the process of creating potent artificial intelligence systems and weapons as a result of these specific limitations.

China’s response, which came almost immediately, involved branding the United States as overbearing and hypocritical while also imposing embargoes on vital goods linked to the US. China’s reaction was prompt and efficient.

Apart from engaging in unilateral bullying, the United States of America also misuses the existing procedures to control export restrictions and exaggerates the notion of national security.

These two behaviours are regarded as instances of bullying behaviour. Furthermore, the United States of America is a nation that engages in one behaviour while preaching another.

The Chinese Ministry of Commerce asserted in a statement that “China is adamantly opposed to such actions.” The public was given access to this statement.

Although the United States and France have distinct reasons for investigating Nvidia’s market dominance, both countries have started looking into how the company has achieved success in the industry.

The entire Nvidia US stock market was powered by it last year.

The company’s processors have become the favoured choice for technological firms spearheading the artificial intelligence revolution. This enterprise facilitates the advancement of the market as a whole. This tendency is expected to persist.

NVIDIA’s position as one of the most valuable companies globally is directly linked to the roughly threefold increase in its share price in 2024. This increase occurred in 2024. We secured this position by investing in the enterprise.

The current president of the United States, Donald Trump, has promised to put high taxes on China if he is elected democratically. Former Georgia Senator David Perdue is “anti-China,” according to a Nvidia Chinese think tank, but the Chinese government has only recently chosen him to be US ambassador to China. At the moment, Perdue serves as China’s ambassador.

This claim was made against him after he was chosen to assume the role by the Chinese government. Additionally, he appointed Peter Navarro, a pro-tariff economist, as a trade and industry advisor.

Tariffs are something that Navarro supports. Navarro says tariffs are the best option. The fact that Navarro supports tariffs is a good thing.

SOURCE: NBC

FBI Warns iPhone and Android Users to Stop Texting