Apple's M-series Chips Vulnerable; Grayscale Outflows Could Slow; Ex-OneCoin Executive Seeks Leniency
Summary:
The M-series chips used in Apple Mac computers have a severe, possibly unpatchable vulnerability that could allow bad actors to access users' encryption keys. Meanwhile, the recent outflows from Grayscale's Bitcoin Trust, exceeding $398 million, are believed to soon reduce, according to analysts. In legal news, an ex-executive of the $4 billion OneCoin scam has asked for leniency in her sentencing for wire fraud and money laundering, suggesting "time served".
Apple's M-series chips, utilized in Mac computers, have been found to be susceptible to manipulations that could enable attackers to access users' sensitive encryption keys. Disturbingly, this flaw is expected to be unfixable. In other news, the calamitous situation of Grayscale outflows exceeding $398 million is speculated to be nearing resolution. While things seemed dire, market experts believe the situation is improving. On March 20, a plea for leniency was submitted in the Southern District Court of New York by an ex-executive of OneCoin scam, seeking a sentence of "time served."
A team of researchers from numerous universities in the United States discovered a serious flaw in Apple's M-series chips on March 21. This flaw, a side-channel exploit, allows cybercriminals to covertly seize end-to-end encryption keys during the execution of commonly used cryptographic protocols by Apple chips. Unlike typical vulnerabilities that can be corrected through patches, this problem is deeply entrenched in the chip's microarchitectural design, rendering it "unpatchable."
Farside Investors revealed on March 21 that Grayscale Bitcoin Trust (GBTC) saw $358.8 million in outflows, bringing this week's total to $1.8 billion. However, Eric Balchunas, Bloomberg's ETF analyst believes this downward trend will likely see a turnaround soon. Balchunas's March 21 commentary suggests that most of Grayscale's outflows may be related to financial troubles at cryptocurrency companies, leading to an anticipated decrease in days to come.
Representing Irinia Dilkinska, a previous executive at OneCoin, attorney John Buza filed a request for her sentence for wire fraud and money laundering to be considered as "time served". In the court documents dated March 20, Buza appealed for leniency for Dilkinska, given her unique role in the case and the intense hardship she faces. The OneCoin initiative, unveiled in 2014, later became infamous as a $4 billion scam. Karl Sebastian Greenwood and Ruja Ignatova, co-founders of OneCoin, were found guilty of money laundering, with Greenwood receiving a 20 year prison sentence. Ignatova, often called the "Cryptoqueen" is still on the run.
Every investment and trading move carries its set of risks. Thus, it is highly recommended for interested parties to do their research before making any decisions. These findings were brought forward by reporters Geraint Price, Sam Bourgi, and Felix Ng.
Published At
3/22/2024 4:01:49 PM
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