Yahoo Autos Hillicon Valley — US warns against North Korea cyber capabilities
U.S. officials warned that North Korea is increasingly using crypto heists to fund nuclear weapons programs.
Meanwhile, Facebook’s parent company Meta is changing course with new product features and a focus on the metaverse as the tech giant vies to maintain its top spot in the industry amid increasing competition and regulatory scrutiny.
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North Korea cyber capabilities worry US
North Korea is increasingly using its crypto heists to fund its nuclear weapons program, worried U.S. officials say.
“I’m very concerned about North Korea’s cyber capabilities,” Anne Neuberger, the Biden administration’s deputy national security adviser for cyber and emerging technology, said recently during an event hosted by the Center for a New American Security (CNAS). “They use cyber to gain, we estimate, up to a third of [stolen crypto] funds to fund their missile program.”
“That’s a major issue, whether it’s attacks against cryptocurrency exchanges or use of information technology workers in various countries,” Neuberger said.
She added that North Korea’s expansion of its missile testing is a top priority for the U.S., which is taking multiple steps to counter Pyongyang’s cyber threats, including imposing sanctions against criminal groups and seizing stolen digital assets.
NORTH KOREAN CRYPTO HACKS ON THE RISE
Cybersecurity experts are warning against the rapid growth of cryptocurrency theft led by North Korean state-sponsored hackers following a series of heists targeting blockchain firms.
Nick Carlsen, a blockchain analyst at TRM Labs, said cyber-enabled financial crimes, especially those allegedly conducted by North Korea, have accelerated over the past few years as the East Asian country has become more sophisticated in stealing virtual currency.
“The threat landscape right now is as bad as I think it has ever been when it comes to financial theft,” Carlsen said during a webinar hosted by the Center for a New American Security on Monday.
Carlsen was referring to a string of crypto heists this year involving hackers stealing millions of dollars worth of digital assets from blockchain firms.
Meta changes course
Meta is shifting to adapt to a changing climate for tech with product updates and a focus on virtual reality.
But the company is facing a battle on all fronts as it vies to maintain its status — working to convince consumers and investors to embrace CEO Mark Zuckerberg’s vision for the company’s future while confronting a Federal Trade Commission (FTC) intent on mitigating Meta’s market power, increasing competition from platforms such as TikTok, industry changes impeding ad revenue and the looming threat of a recession.
Zuckerberg told investors at the end of July the company is focused on riding two “major technological waves” — artificial intelligence (AI) and the metaverse.
The focus on AI is leading to more short-term changes, including updates to push recommended content on Instagram and Facebook. The focus on the metaverse is part of a more long term initiative the company is continuing to invest in.
Biden signs chips law
President Biden signed into law on Tuesday bipartisan legislation to provide billions of dollars in incentives to the domestic semiconductor industry and fund scientific research that proponents say will help boost U.S. competitiveness and solve supply chain challenges.
“Today is a day for builders. Today America is delivering,” Biden said at the bill signing event at the White House. “And I, honest to God, believe that 50, 75, 100 years from now, people who will look back on this week, they’ll know that we met this moment.”
The bill — formally known as the CHIPS and Science Act — passed the Senate and House at the end of July, after more than a year of work on Capitol Hill and multiple iterations of the legislation.
The legislation includes more than $50 billion in incentives for manufacturers of semiconductors, or chips, to build domestic semiconductor plants. It also includes more than $80 billion for the National Science Foundation authorized over five years to support innovation and research.
Micron’s investment: The same day as executives at Micron and other chipmakers joined the president at the signing of the CHIPS and Science Act, Micron Technology said it plans to invest $40 billion in U.S. semiconductor manufacturing after Congress approved massive chip subsidies.
The Boise, Idaho-based chipmaker said that the investment will create 40,000 new jobs including 5,000 highly paid technical and operational roles and bring the “world’s most advanced memory manufacturing” to the U.S.
