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In the biggest cyberattack to date on critical infrastructure in the U.S., Colonial Pipeline – sprawling 5,500 miles from Houston to New York City – halted its mainlines on Friday, May 7, when administrators detected advanced ransomware internally. On Thursday, a day before the ransomware attack, Russia-based cyber criminal group DarkSide stole more than 100GB of data, giving DarkSide added leverage to extract a ransom from Colonial Pipeline, which some speculated could end up paying a ransom to avoid a prolonged and potentially catastrophic shutdown. On Monday, May 10, Colonial announced that it had set a “goal of substantially restoring operational service by the end of the week,” which means the Eastern U.S. will likely face days of uncertainty over its energy supply. ....
Signaling greater U.S. government involvement in cybersecurity, President Biden in his first State of the Union address last night mentioned bolstering cybersecurity through such measures as making security jobs accessible, combating cyber interference from Russia, and mitigating nation-state threats. Biden’s address comes as both the federal government and industry ramp up efforts to take on ransomware. In an internal memo sent to DOJ staff last week, Acting Deputy Attorney General John Carlin detailed the precarious position citizens, companies, and even government agencies have been put in due to advanced extortion attempts using ransomware: “By any measure, 2020 was the worst year ever when it comes to ransomware and related extortion events…And if we don’t break the back of this cycle, a problem that’s already bad is going to get worse.” ....
In a world of data, users and the applications they trust contain valuable resources. Examples include anything from personally identifiable information (PII) to proprietary secrets, but what’s critical to most everyone is that data stored in the application is only accessible to the user–unless other users or applications are authorized. The user in the OAuth protocol is known as the resource owner. In the OAuth flow, a client represents a third-party application that seeks access to the resource owner’s information. In a universe of applications, all digital users have interacted with client applications that require your basic information for registration. Alternatively, if you don’t want to plug in all of your information, clients will offer you the option of registering by logging into another platform like Gmail or Facebook. ....
What is a non-fungible token (NFT)? A non-fungible token (NFT) is a digital certificate of ownership that contains metadata unique to the token. Like cryptocurrency, NFTs are bought and sold through a blockchain that permanently records the transaction, but no one NFT is identical to another, unlike most crypto coins. These tokens are virtual representations of any actual or intangible asset, including artwork, music, video clips, digital trading cards, tokenized real-world assets, and virtual land. How do NFTs work? Much like cryptocurrency, NFTs use blockchain technology for advanced certification of transactions and are tradable on global platforms. NFTs break from traditional crypto is their unique attachment to a digital asset generated by a user and the subsequent auction-based sale of the NFT. ....