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Department of Treasury Overstepped its Authority, Fifth Circuit Rules
A U.S. federal appeals court ruled U.S. Department of Treasury exceeded its authority by sanctioning Tornado Cash, a cryptocurrency mixing service used by North Korean hackers to launder more than $455 million. Smart contracts "are not capable of being owned," the court ruled.

Likely Russian Hacker Exploits IoT Vulnerabilities, Many Known for Years
An apparent Russian script kiddie is converting widespread security gaps into powerful botnets capable of launching global-scale distributed denial-of-service attacks. A threat actor with the online moniker "Matrix" is exploiting IoT vulnerabilities such as default credentials and outdated software.

Largest US Telco Blocks Hackers But Warns Other Networks May Be Compromised
T-Mobile disputed claims Wednesday that Chinese state-sponsored hackers breached its systems and stole customer data, warning that some U.S. communications networks may still be compromised and detailing how its layered defenses and third-party cybersecurity partnerships thwarted the attack.

Henna Virkkunen Vows to Boost European Innovation, Cut Regulations
Newly appointed EU tech commissioner Henna Virkkunen will lead efforts to establish Europe's tech sovereignty, said European Commission President Ursula von der Leyen, who will start a second term on Dec. 1. Virkkunen was a liberal-conservative Finnish member of the European Parliament.

New Sysdig CEO Bill Welch Aims to Expand Real-Time Response and GSI Partnerships
New CEO Bill Welch discusses Sysdig's cloud security strategy, emphasizing AI, open-source leadership with Falco, and expansion plans to serve SMBs and midmarket businesses. He shares goals for real-time response and building a sustainable, profitable company.

New Law Calls for Better Reporting, Securing Devices and Critical Infrastructure
The Australian government's proposed cybersecurity legislation passed both houses of the Parliament on Monday, formalizing the government's strategy to boost ransomware payment reporting, mandate basic cybersecurity standards for connected devices and enhance critical infrastructure security.

Scientists Devise Technique to Make AI Models Mimic Specific People
Researchers have devised a technique to train artificial intelligence models to impersonate people's behavior based on just two hours of interviews, creating a virtual replica that can mimic an individual's values and preferences.

HHS OIG: Current Audit Program Is Not Pushing Entities Enough to Improve Cyber
The U.S. Department of Health and Human Services' Office for Civil Rights should restart and toughen the scope of its HIPAA audits. A watchdog agency says HHS needs to better assess whether regulated healthcare organizations are taking required actions to reduce their cybersecurity risk.

'You Wonder, Should I Just Spend It on a Place to Stay in America for a Week'
Revisions to U.K. government research funding guidelines and their complex application pose a challenge to early-stage tech companies, experts on Tuesday told a parliamentary committee inquiry. "We have definitely had issues," said Peadar Coyle, founder of AudioStack.

Outpatient Appointments Cancelled at Wirral University Teaching Hospital
A U.K. National Heath Service teaching hospital in northwest England reported a major cyberincident on Tuesday that forced the healthcare facility to cancel outpatient appointments for the day. Maternity services, neo-natal and emergency triage are "running as normal."

'Nearest Neighbor Attack' Bypasses Cyber Defenses by Breaching WiFi Networks
A Russian cyberespionage group hacked a Washington, D.C.-based organization focused on Ukraine by deploying a new attack technique that exploits Wi-Fi connectivity, according to new research. The "nearest neighbor attack: methodology could lead to a significant broadening of targeting and attacks.

Money Aims to Simplify Fundraising for RSA Conference Innovation Sandbox Finalists
Finalists selected for RSA Conference’s Innovation Sandbox competition will now each receive a $5 million investment from Crosspoint Capital. Managing Partner Hugh Thompson said this initiative ensures top cybersecurity startups are equipped to handle increased demand and scale effectively.

Speech by UK Minister Pat McFadden Sparks Backlash
A warning from a British government official over the Russian cyberwar sparked a backlash from cybersecurity specialists who urged a measured approach. Russian attacks could "turn the lights off for millions of people," said Pat McFadden, minister for intergovernmental

Group Deploys Upgraded Malware Disguised as Microsoft File on Pilgrimage Goers
A South Asian threat actor identified as Mysterious Elephant or APT-K-47 by Knownsec 404 researchers is using a Hajj-themed lure to trick victims into malicious payload disguised as a Windows file. The hacker is using upgraded Asyncshell malware disguised as a Microsoft Compiled HTML Help file.

National Security Officials Share Intelligence on a Cyberespionage Campaign
The White House on Friday hosted U.S. telecommunications executives to review the country's cyber resilience posture and share intelligence pertaining to China's "significant cyberespionage campaign targeting the sector," which the FBI continues to probe.

US Cyber Command Says National Mission Force was Deployed Over 85 Times in 2024
A secretive U.S. military unit has surged its support to partner nations across the globe in 2024 while combatting escalating threats from foreign adversaries like China and North Korea, a top official from Cyber Command told the Cyberwarcon summit on Friday.

Research Finds Deep Ties to North Korea Among Fake IT Service Firms' Websites
North Korean state actors are using fake websites of foreign technology service firms to sidestep sanctions and raise funding for Kim Jong-Un regime's weapons development programs. SentinelLabs found many of these sites shared similar infrastructure, owners and locations.

Also: Highlights from ISMG's Financial Services Summit and Key Insights on AI Adoption
On the 200th episode of the ISMG Editors' Panel, the team discussed the major China-linked cyberespionage campaign targeting U.S. telecommunications, highlighted key insights from ISMG's Financial Services Summit in New York and unpacked the top findings from ISMG's annual Generative AI Survey.

PE Firm Takes Majority Stake to Drive Certificate Lifecycle Management Innovation
Private equity firm Haveli has purchased a majority stake in AppViewX to scale globally, targeting automation in certificate lifecycle management and public key infrastructure. CEO Gregory Webb says the acquisition will fund international expansion and next-gen technology investments.

DeepSeek-R1 Struggles with Logic Tests and Is Vulnerable to Jailbreaks
Chinese artificial intelligence research company DeepSeek, funded by quantitative trading firms, introduced what it says is one of the first reasoning models to rival OpenAI o1. Reasoning models engage in self-fact checking and perform multi-step reasoning tasks.