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OEIS Financial Fraud Private Investigator:
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WASHINGTON (AP) — President Joe Biden on Monday issued an order blocking a Chinese-backed cryptocurrency mining firm from owning land near a Wyoming nuclear missile base, calling its proximity to the base a “national security risk.”
The order forces the divestment of property operated as a crypto mining facility near the Francis E. Warren Air Force Base. MineOne Partners Ltd., a firm partly backed by Chinese nationals, and its affiliates are also required to remove certain equipment on the site.
This comes as the U.S. is slated on Tuesday to issue major new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China, according to a U.S. official and another person familiar with the plan.
And with election season in full swing, both Biden and his presumptive Republican challenger, former President Donald Trump, have told voters that they’ll be tough on China, the world’s second-largest economy after the United States and an emerging geopolitical rival.
The Monday divestment order was made in coordination with the U.S. Committee on Foreign Investment in the United States — a little-known but powerful government committee tasked with investigating corporate deals for national security concerns that holds power to force companies to change ownership structures or divest completely from the U.S.
A 2018 law granted CFIUS the authority to review real estate transactions near sensitive sites across the U.S., including F.E. Warren Air Force Base.
MineOne purchased the land that is within one mile of the Air Force base in Cheyenne in 2022, and according to CFIUS, the purchase was not reported to the committee as required until after the panel received a public tip.
The order was vague about the specific national security concerns, with the Treasury Department saying only that there were issues with “specialized and foreign-sourced equipment potentially capable of facilitating surveillance and espionage activities” that “presented a significant national security risk.”
A representative from the firm did not respond to an Associated Press request for comment.
Treasury Secretary Janet Yellen, who serves as the chairperson of CFIUS, said the role of the committee is “to ensure that foreign investment does not undermine our national security, particularly as it relates to transactions that present risk to sensitive U.S. military installations as well as those involving specialized equipment and technologies.”
The committee is made up of members from the State, Justice, Energy and Commerce Departments among others, which investigates national security risks from foreign investments in American firms.
CFIUS directed the sale of the property within 120 days, and that within 90 days the company remove all structures and equipment on the site.
OEIS Financial Fraud Private Investigator:
Veteran crypto trader, Peter Brandt has issued a warning to the broader crypto community, stating that the industry has yet to experience its biggest disaster. Brandt boldly predicts that this catastrophe will be linked to cryptocurrency staking and the people involved in it.
In an X (formerly Twitter) post on May 24, Brandt labeled crypto staking as one of the biggest threats to the digital currency space. According to the analyst, staking could become the harbinger of disaster for the industry, potentially causing the decline of the market’s reputation and leading to financial losses for traders.
For more clarity, staking is a popular practice in the crypto industry that involves locking assets for an extended period to help support the blockchain. This allows token holders to participate as validators of the blockchain and earn staking rewards.
Brandt cautioned that digital currency enthusiasts and traders involved in staking should be careful as it could potentially lead to bankruptcy and loss of fortune. He believes that staking may bring shocking future events that could possibly devastate the space.
In a follow-up post, the trader outlined a progression of events related to staking, highlighting its potential negative impacts on the market.
He disclosed that crypto staking involves owning, borrowing or leveraging an asset such as Solana and Ethereum. These assets are usually lent out to earn possible revenue, often in the form of interest.
As staking becomes more widespread and accepted, it could attract the attention and involvement of Central Banks, government treasuries and other governmental authorities. Brandt reveals that this attention may lead to increased scrutiny and regulation of the staking process by the government.
Consequently, the introduction of new regulations would have a detrimental effect on the crypto space, fundamentally changing the industry or possibly leading to the end of staking.
Before issuing his controversial statement about crypto staking, Brandt disclosed that his opinions may not be well received by supporters of popular digital assets such as Ethereum and Solana.
True to this prediction, many community members dismissed Brandt’s warning that staking could potentially bring disaster to the crypto space. A crypto member criticized Brandt for his statement, asserting that the crypto trader was uninformed about staking processes and was overstating the impacts of staking by claiming it would result in a “disaster.”
Another crypto member had argued that Brandt’s definition of staking was factually incorrect. He clarified that staking was a process of using coins or tokens to verify and secure the consensus mechanism of a blockchain.
Furthermore, a crypto community member, Tony Edward disclosed that the only risks in staking are associated with Centralized Exchanges (CEX), not with self custody staking.
Featured image from Pexels, chart from TradingView
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Oeisdigitalinvestigator.com:
When over 100 high cybersecurity leaders gathered in July at a retreat heart within the California redwoods reach San Jose, the serene sounds of rustling needles did no longer detract from discussions about systems to tackle basically the most up-to-date AI-pushed threats.
Team8, the mission capital agency within the again of the tournament, surveyed the neighborhood—including Fortune 500 CISOs—and discovered that AI-powered phishing attacks and the rise of deepfakes had emerged as high concerns, apt a 300 and sixty five days after many within the cohort had hoped generative AI would be nothing extra than a passing fad. Three-quarters said that stopping AI phishing attacks–or phishing campaigns that construct email, text or messaging scams extra sophisticated, personalized, and complex to detect–had turn into an uphill fight. Over half said deepfakes, or AI-generated video or audio impersonations, had been changing into an increasingly extra current possibility.
However, Fortune spoke exclusively to several retreat attendees who said that while AI phishing and deepfakes with out a doubt crude highly as contemporary cybersecurity concerns, there are diversified points preserving them up at evening when it involves the rising risks of AI-associated cyber attacks on their companies.
Gary Hayslip, chief security officer at funding preserving company SoftBank, said one among his splendid concerns is systems to guard private company files from provide chain attacks within the age of AI–that is, going by risks from third-get together distributors which maintain added generative AI aspects to their instruments nonetheless maintain no longer utilized the foremost governance across the expend of Softbank’s files.
“There are apt stable distributors…coming up with their maintain generative AI share that’s now obtainable with this machine you’ve been utilizing for the final three years,” he said. “That’s cool, nonetheless what’s it doing with the suggestions? What’s the suggestions interacting with?” Organizations wish to ask these questions as by they are quizzing a teen who desires to download apps onto their smartphone, he added.
“Strive to be a shrimp bit paranoid,” he said, including that an organization can’t “apt begin up the gate and let 1000s of apps diagram in and files apt goes flying all the plan by the enlighten that’s fully unmanned.”
Adam Zoller, CISO at Providence Health & Services, a no longer-for-income healthcare draw headquartered in Renton, Wash., agreed that protecting company files and systems while utilizing third-get together AI instruments is his splendid security headache apt now, in particular in a highly-regulated commerce savor healthcare. Suppliers might doubtless doubtless furthermore integrate LLMs into existing healthcare machine platforms or biomedical gadgets and might doubtless doubtless furthermore no longer diagram close security points as severely as they wish to silent, he defined.
“All these capabilities are either deployed with out our files, savor within the background as a machine substitute,” he said, including that he incessantly has to maintain a conversation with commerce leaders, allowing them to know that utilizing certain instruments creates “an unacceptable possibility.”
Diversified security leaders are in particular alarmed about how contemporary attacks are immediate evolving. For example, while deepfakes are already convincing, Alissa Abdullah, deputy CSO at Mastercard, said she became very bearing in suggestions unique deepfake scams which might doubtless doubtless be doubtless to emerge over the arriving 300 and sixty five days. These would expend AI video and audio no longer to faux to be someone recognizable to the user, nonetheless a stranger from a depended on model – a fave company’s again desk representative, to illustrate.
“They’ll call you and relate, ‘we maintain to authenticate you into our draw,’ and ask for $20 to diagram close away the ‘fraud alert’ that became on my legend,” she said. “Not is it making an try $20 billion in Bitcoin, nonetheless $20 from 1000 of us – shrimp amounts that even of us savor my mother would be gratified to claim ‘let me apt give it to you.’”
For CISOs at companies rising basically the most evolved AI models, planning for future risks is highly main. Jason Clinton, chief files security officer at Anthropic, spoke on the Team8 tournament, emphasizing to the neighborhood that it’s the implications of “the scaling law hypothesis” that terror him basically the most. This hypothesis suggests that rising the scale of an AI mannequin, the amount of files it’s miles fed, and the computing energy outmoded to coach the mannequin necessarily results in a constant and, to a diploma, predictable expand within the mannequin’s capabilities.
“I don’t think that [the CISOs] fully internalized this,” he said of thought the exponential upward curve of AI capabilities. “If you’re making an try to devise for an mission diagram for cyber that apt is in step with what exists this day, then you definately’re going to be within the again of,” he said. “A 300 and sixty five days from now, it’s going to be 4x 300 and sixty five days over 300 and sixty five days expand in computing energy.”
That said, Clinton said that he’s “cautiously optimistic” that improvements in AI outmoded by defenders to respond to AI-powered attacks. “I beget think we maintain a defenders advantage, and so there’s no longer if truth be told a must silent be pessimistic,” he said. “We are finding vulnerabilities faster than any attacker that I’m conscious of.” To boot, the scorching DARPA AI Cyber Scenario confirmed that developers might doubtless doubtless scheme unique generative AI systems to safeguard main machine that undergirds the whole lot from monetary systems and hospitals to public utilities.
“The economics and the funding and the applied sciences seem like favoring of us who’re making an try to beget the apt ingredient on the defender aspect,” he said.
Softbank’s Hayslip agreed that defenders can preserve earlier than AI-powered attacks on companies, calling it a form of ‘chilly battle.’
“You’ve received the criminal entities engrossing very immediate, utilizing AI to diagram up with unique kinds of threats and methodologies to construct money,” he said. “That, in flip, pushes again on us with the breaches and the incidents that we maintain, which pushes us to manufacture unique applied sciences.”
The apt news is, he said, that while a 300 and sixty five days within the past there had been splendid a pair of startups centered on monitoring generative AI instruments or providing security towards AI attackers, this 300 and sixty five days there had been dozens. “I’m in a position to’t even imagine what I’ll watch subsequent 300 and sixty five days,” he said.
But companies maintain their work chop out for them, because the threats are for sprint escalating, he said, including that security leaders can’t conceal from what’s coming.
“I do know that there is a camp of CISOs which might doubtless doubtless be making an try to yowl, and so they’re making an try to pause it or gradual it down,” he said. “In a potential it’s savor a tidal wave and whether they savor it or no longer, it’s coming hard, because [AI threats] are maturing and rising that like a flash.”
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