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WASHINGTON – The woman who dubbed herself the “Crocodile of Wall Street” and “Razzlekhan” in rap videos was ordered to serve 18 months behind bars for helping her hacker husband launder cryptocurrency he stole from the Bitfinex exchange.
Heather Morgan, 34, was sentenced on Nov 18 in Washington federal court. Last week, her husband, Ilya Lichtenstein, got five years in prison for his role in the scheme, which stemmed from his 2016 hack of the exchange and the theft of Bitcoin currently worth billions of dollars. Both pleaded guilty last year.
Morgan wasn’t involved in the hack, and her husband said he recruited her to help hide the loot he’d stolen. They could have faced more prison time, but he agreed to aid the United States in other crypto prosecutions and she persuaded him to cooperate with the authorities.
The Verge, which called her “crypto’s most embarrassing rapper”, said she made crypto-themed rap videos under the name Razzlekhan. The whole story is expected to be immortalized in a Netflix documentary series and a film called Dutch & Razzlekhan, the tech news website said.
According to prosecutors, Morgan and Lichtenstein engaged in complex money-laundering techniques, including creating accounts under fictitious identities, moving the stolen proceeds in small amounts, and breaking up the trail of transactions by depositing and withdrawing funds from crypto exchanges and darknet markets. They purchased nonfungible tokens, gold and Walmart gift cards, court records show.
At the time of the hack, the stolen Bitcoin was worth about US$71 million (S$95 million). Now it’s valued in the billions of dollars as the price of Bitcoin has surged from US$580 to more than US$90,000. The couple laundered 21 per cent of what was stolen in the Bitfinex hack, according to the government. BLOOMBERG
WASHINGTON – A U.S. Senate Judiciary subcommittee overseeing technology issues will hold a hearing Tuesday on Chinese hacking incidents, including a recent incident involving American telecom companies.
The hearing to be chaired by Senator Richard Blumenthal will review the threats “Chinese hacking and influence pose to our democracy, national security, and economy,” his office said, adding the senator plans “to raise concerns about Elon Musk’s potential conflicts of interest with China as Mr. Musk becomes increasingly involved in government affairs.”
Musk, the head of electric car company Tesla, social media platform X and rocket company SpaceX, emerged during the election campaign as a major supporter of U.S. President-elect Donald Trump. Trump appointed him as co-head of a newly created Department of Government Efficiency to “slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies.”
Musk, who was in China in April and reportedly proposed testing Tesla’s advanced driver-assistance package in China by deploying it in robotaxis, did not immediately to requests for comment.
The hearing will include CrowdStrike Senior Vice President Adam Meyers and Telecommunications Industry Association CEO David Stehlin, Strategy Risks CEO Isaac Stone Fish and Sam Bresnick, research fellow at the Center for Security and Emerging Technology at Georgetown University,
Last week, U.S. authorities said China-linked hackers have intercepted surveillance data intended for American law enforcement agencies after breaking in to an unspecified number of telecom companies, U.S. authorities said on Wednesday.
The hackers compromised the networks of “multiple telecommunications companies” and stole U.S. customer call records and communications from “a limited number of individuals who are primarily involved in government or political activity,” according to a joint statement released by the FBI and the U.S. cyber watchdog agency CISA.
The announcement confirmed the broad outlines of previous media reports that Chinese hackers were believed to have opened a back door into the interception systems used by law enforcement to surveil Americans’ telecommunications.
It follows reports Chinese hackers targeted telephones belonging to then-presidential and vice presidential candidates Donald Trump and JD Vance, along with other senior political figures, raised widespread concern over the security of U.S. telecommunications infrastructure.
Beijing has repeatedly denied claims by the U.S. government and others that it has used hackers to break into foreign computer systems.
Last month, a bipartisan group of U.S. lawmakers asked AT&T, Verizon Communications and Lumen Technologies to answer questions about the reporting hacking of the networks of U.S. broadband providers. REUTERS
“Singapore Issues New Guidelines to Protect Businesses from AI Security Risks”
SINGAPORE – Rogue chatbots that spew lies or racial slurs may be just the beginning, as maliciously coded free chatbot models blindly used by businesses could unintentionally expose sensitive data or result in a security breach.
In new guidelines published on Oct 15, Singapore’s Cyber Security Agency (CSA) pointed out these dangers amid the artificial intelligence (AI) gold rush, and urged businesses to test what they plan to install rigorously and regularly.
This is especially crucial for firms that deploy chatbots used by the public, or those linked to confidential customer data.
Frequent system tests can help weed out threats like prompt injection attacks, where text is crafted to manipulate a chatbot into revealing sensitive information from linked systems, according to the newly published Guidelines on Securing AI Systems .
The guidelines aim to help businesses identify and mitigate the risks of AI to deploy them securely. The more AI systems are linked to business operations, the more they should be secured.
Announcing the guidelines at the annual Singapore International Cyber Week (SICW) at the Sands Expo and Convention Centre on Oct 15, Senior Minister and Coordinating Minister for National Security Teo Chee Hean said the manual gives organisations an opportunity to prepare for AI-related cyber-security risks while the technology continues to develop.
Mr Teo said in his opening address that managing the risks that come with emerging technology like AI is an important step to build trust in the digital domain. He urged the audience to learn lessons from the rapid rise of the internet.
“When the internet first emerged, there was a belief that the ready access to information would lead to a flowering of ideas and the flourishing of debate. But the internet is no longer seen as an unmitigated good,” he said, adding that there is widespread recognition that it has become a source of disinformation, division and danger.
“Countries now recognise the need to go beyond protecting digital system to also protecting their own societies,” he said. “We should not repeat these mistakes with new technologies that are now emerging.”
The ninth edition of the conference is being held between Oct 14 and 17 and features keynotes and discussion panels by policymakers, tech professionals and experts.
AI owners are expected to oversee the security of AI systems from development, deployment to disposal, according to CSA’s guidelines, which do not address the misuse of AI in cyber attacks or disinformation.
In a statement released on Oct 15, CSA said: “While AI offers significant benefits for the economy and society… AI systems can be vulnerable to adversarial attacks, where malicious actors intentionally manipulate or deceive the AI system.”
Organisations using AI systems should consider more frequent risk assessments than with conventional systems to ensure tighter auditing of machine learning systems.
WASHINGTON – Chinese hackers who tapped into Verizon’s system targeted phones used by Republican presidential candidate Donald Trump and his running mate JD Vance, the New York Times reported on Oct 25, citing people familiar with the matter.
The newspaper said investigators were working to determine what communications, if any, were taken.
The Trump campaign was made aware this week that Trump and Mr Vance were among a number of people inside and outside of government whose phone numbers were targeted through the infiltration of Verizon phone systems, it added.
The campaign did not immediately respond to a request for comment.
The Trump campaign was hacked earlier this year. The US Justice Department charged three members of Iran’s Revolutionary Guards Corps with the hack and trying to disrupt the Nov 5 election. REUTERS
“Ofcom to Detail Action Required from Social Media Companies Over Illegal Content – December Deadline Looming for Compliance”
LONDON – Britain’s media regulator Ofcom said on Oct 17 that it would detail what action it expected social media companies to take over illegal content on their platforms in December, saying it expected swift action or they would face consequences.
Ofcom, which is responsible for implementing the government’s Online Safety Bill, said the platforms would have three months to complete their own illegal harms risk assessments after the publication of its demands.
“The time for talk is over,” Ofcom’s Chief Executive Melanie Dawes said on Oct 17. “From December, tech firms will be legally required to start taking action, meaning 2025 will be a pivotal year in creating a safer life online.”
She said the regulator had already seen positive changes, but expectations were going to be high.
“We’ll be coming down hard on those who fall short,” she said.
Ofcom said better protections had already been introduced by Meta, the owner of Instagram and Facebook, and Snapchat which have brought in changes to help prevent children being contacted by strangers.
Britain’s new online safety regime, which became law last year, requires social media companies to tackle the causes of harm, particularly for children, by making their services safer.
If companies do not comply with the new law, they could face significant fines and, in the most serious cases, their services could be blocked in Britain. REUTERS