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The Record: As hackers pummel state and local governments with cyberattacks that exploit their untrained employees and aging infrastructure, a crucial source of support from the federal government is in danger of disappearing.
The Target: Byte Federal operates 1,356 Bitcoin ATMs in the US, accounting for 4.3% of all crypto ATMs in the country.
The Take: The potentially exposed data included names, dates of birth, addresses, phone numbers, email addresses, government-issued IDs, social security numbers, transaction activity and photographs of users.
The Vector: Byte Federal said it had discovered the attack on Nov. 18, more than 30 days after it occurred on Sept. 30, with a bad actor exploiting a vulnerability in software provided by a third party.
This breach highlights the extreme importance of timely software updates for known software vulnerabilities, not only in systems directly under a firm’s control, but in third-party systems the firm relies upon as well. The longer a firm, or its vendors, hold out on deploying the most up-to-date software for their systems, the greater the chance an attacker will exploit the issue.
Cybersecurity Dive: The SEC’s cyber disclosure rule continues to confound companies, resulting in a lack of compliance and insufficient details, analysis of the past year’s filings shows. Business leaders’ concerns about sharing too much information is causing a sustained variance in the timing and fullness of cyber incident filings.
BNN Bloomberg: The US sanctioned a Chinese company it accused of working for intelligence agencies and charged one of its employees with hacking into the computer systems of thousands of businesses across the globe, including American critical infrastructure firms.
Crunchbase: Just last month, AI-powered data security startup Cyera closed a $300 million Series D led by Accel and Sapphire Ventures. The deal tied Cyera for the biggest raise by a startup playing at the intersection of two of venture capitalists’ favorite industries: AI and cybersecurity.
CSO Online: Generative AI is being embedded into security tools at a furious pace as CISOs adopt the technology internally to automate manual processes and improve productivity.
CFO Dive: The FBI’s Internet Crime Complaint Center received a record 880,418 reports from the public last year — a nearly 10% increase compared with 2022 — with estimated losses exceeding $12.5 billion, the law enforcement agency said. Just a fraction of such crimes are reported, the FBI said.
Cybersecurity Dive: Salt Typhoon has compromised at least eight telecommunications providers or telecom infrastructure companies in the U.S., though there could be more, Anne Neuberger, deputy national security advisor for cyber and emerging technology, said during a media briefing.
BNN Bloomberg: Omers Private Equity is buying a majority stake in Integris, a US cybersecurity and IT consulting company, from Chicago-based Frontenac Company LLC for an undisclosed amount.
Yahoo Finance: The U.S. Securities and Exchange Commission has settled record keeping charges against an Industrial and Commercial Bank of China unit concerning a November 2023 ransomware attack, but decided not to impose a civil fine.
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