Bybit Suffers Historic $1.5 Billion Cryptocurrency Theft

In an unprecedented digital heist, cryptocurrency exchange Bybit reported the theft of $1.5 billion in Ethereum. The breach occurred during a routine transfer from an offline “cold” wallet to an online “warm” wallet, allowing attackers to exploit security vulnerabilities and siphon funds to an unknown address. Bybit’s CEO, Ben Zhou, assured customers of full reimbursement, emphasizing the company’s solvency with $20 billion in assets. The incident has prompted a surge of over 350,000 withdrawal requests, potentially causing processing delays. While the perpetrators remain unidentified, speculation points towards North Korea’s Lazarus Group, notorious for large-scale cryptocurrency thefts. The Guardian

Apple Disables Advanced Data Protection in UK Amid Government Pressure

Apple has removed its Advanced Data Protection (ADP) feature for UK users following demands from the British government for backdoor access to encrypted data. ADP provided end-to-end encryption for iCloud services, ensuring only account holders could access their data. The UK’s request, made under the Investigatory Powers Act, compels companies to furnish information to law enforcement agencies. Apple expressed deep disappointment, highlighting increased risks of data breaches and privacy threats due to the feature’s removal. Cybersecurity experts criticized the government’s stance, warning that compromising encryption undermines overall security. The Guardian

Elon Musk’s DOGE Team Gains Access to US Cybersecurity Agency

Elon Musk’s Department of Government Efficiency (DOGE) has integrated two of its engineers into the Cybersecurity and Infrastructure Security Agency (CISA), a critical component of the Department of Homeland Security. Notably, 19-year-old engineer Edward Coristine, known for his controversial online activities, has been appointed as a senior advisor. Coristine’s history includes associations with cybercriminal communities, raising concerns among cybersecurity experts about the potential risks of granting individuals with questionable backgrounds access to sensitive government networks. CISA is responsible for defending federal networks and securing critical infrastructure, making the integrity of its personnel paramount. Wired

Underreported News: Sophos’ Prolonged Battle Against Chinese Hackers

Over the past five years, UK-based cybersecurity firm Sophos has been engaged in a continuous struggle against Chinese hackers exploiting vulnerabilities in its firewall products. The adversaries, linked to state-sponsored groups such as APT41 and APT31, have targeted critical sectors including military, government, energy, and telecommunications. Despite deploying counter-surveillance measures and releasing patches, the hackers have persistently adapted, highlighting the challenges cybersecurity firms face in defending against sophisticated, state-backed cyber threats. This ongoing battle underscores the necessity for transparency and proactive security measures to protect against evolving vulnerabilities. Wired