Security News Bites for May 16, 2025
FTC Says it Won’t Regulate AI Until After it Causes Harm
While I understand the concept, I am not sure it is the best strategy for protecting you and me. On the other hand, regulators really don’t understand technology and rules, once made, are hard to change. Given the rate of change of AI, the whole thing is a recipe for disaster. So the FTC’s plan is to do nothing. You are on your own. I hope it works out for you. Credit: The Record
Chinese Hackers Going After Taiwan and South Korea Supply Chains
Supply chain attacks are not new and are pretty effective. The supply chain attacks, named Tidrone and Venom, hit military, heavy industry, software services, satellite, technology, media and healthcare. The strategy was to infiltrate the upstream segment of the drone supply chain. Credit: Security Week
Another Reason to Get Off Windows 10
Microsoft has confirmed that some Windows 10 and Windows 10 Enterprise LTSC 2021 systems will boot into BitLocker recovery after installing the May 2025 security updates. “On affected devices, upon installing the update, Windows might fail to start enough times to trigger an Automatic Repair. On devices with BitLocker enabled, you will need your recovery key to get to your data. Microsoft is investigating. Credit: Bleeping Computer
Israel Arrests Suspect Behind $190 Million Crypto Hack
In 2022 hackers exploited the Nomad bridge smart contract system and stole $190 million. The newest suspect is an American-Israeli dual national and was arrested in Jerusalem by Israeli police working with the DoJ, FBI and Interpol using intelligence from a blockchain intel company. Once the bug was discovered, abuse of it spread quickly. Credit: Bleeping Computer
Coinbase Users Lose Tens of Millions a Week While Coinbase Ignores it
Apparently, if you think your crypto exchange will protect you from hackers, you might want to reconsider. A blockchain investigator claims that another $45+ million was stolen from Coinbase users just in the last week. The investigator says that in the last few months he has reported on Coinbase user losses in nine figures. He says at least $65 million was stolen in December and January. Losses in March were more than $40 million. The losses mostly come from social engineering. Credit: Cyber News
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