The cryptocurrency exchange Liquid has disclosed that some of its warm wallets had been compromised. SecurityWeek reports that the approximate equivalent of ninety-seven-million dollars has been lost. Security firm Elliptic says that much of the theft, some forty-five-million dollars, was of Ethereum tokens, which the thieves are currently in the process of converting to Ether before they can be frozen.
The US Cybersecurity and Infrastructure Security Agency (CISA) has this week issued guidelines for preventing ransomware attacks, protecting data at risk in such attacks, and responding to a ransomware incident should your organization fall victim.
TechCrunch reviews the cost of a ransomware attack as assessed by multiple sources and finds that the ransom payment itself, if any is even made, usually comes to less than 20% of the total. Labor, reputational damage, opportunity costs, and legal obligations make up the bulk of the bill.
The Wall Street Journal reports that the US Federal Communications Commission (FCC) has opened an inquiry into the T-Mobile breach, the first regulatory action in response to that incident.
China has passed its long anticipated data privacy law, the Personal Information Protection Law. It closely resembles, the Wall Street Journal says, the GDPR. It's likely to restrain corporate data collection, but is expected to have essentially no effect on government surveillance. CNBC sees the law as part of a general tightening of Beijing's regulation of the tech sector.
The US Federal Trade Commission (FTC) has filed an amended version of its anticompetitive practices complaint against Facebook.