Europol's Major Ransomware Takedown, Cruz Delves into Bitcoin Mining, and Gensler's Clinton Link Backlash
Summary:
This article covers various updates from the world of technology and cryptocurrency. It starts with account of Europol's takedown operation against a network of botnets and arrests. Next, it talks about Senator Ted Cruz's recent purchase of Bitcoin miners and his push for Texas to become a crypto mining hub. It also reports on a struggling tokenized fundraising initiative by a hotel developer in El Salvador. There's an account of SEC Chair Gary Gensler, facing backlash due to his links with Hillary Clinton. Finally, it presents other news updates related to Google's metaverse goggles, Ethereum's Matter Labs dropping the "ZK" trademark attempt, and various others.
Europol orchestrates a significant operation against ransomware
In a major crackdown against a network of hackers and malware producers, the European Union's principal law enforcement body, Europol, has spearheaded a significant operation. This move resulted in four arrests and the takedown of in excess of 100 associated servers. Operation Endgame, executed from May 27 to 29, is described by Europol as "the biggest operation ever against botnets," networks of computers that disseminate harmful software, including ransomware. The now-disabled botnets include IcedID, SystemBC, Pikabot, Smokeloader, Bumblebee, and Trickbot. These "droppers" infiltrate systems using tactics like phishing email links and then release harmful code that allows the intruder to carry out their malicious activities. In this particular case, the group hacked into the networks of established businesses and vend their access to other hackers. The effort involved law enforcement agencies from many countries including Denmark, France, Germany, the Netherlands, Ukraine, Portugal, the United Kingdom, and the United States.
Senator Ted Cruz steps into Bitcoin mining
Senator Ted Cruz of Texas recently revealed the purchase of three Bitcoin miners, currently installed at a facility in Iraan, Texas. Senator Cruz, known for his pro-Bitcoin arguments in Congress, is rallying for Texas to become a cryptocurrency mining hub. It was in early 2023 that he proposed legislation to necessitate vendors and food service contractors in the U.S. Capitol to offer cryptocurrency as a payment option. Although this resolution hasn't proceeded since its introduction, Cruz still remains quite active in the crypto scene.
Hampton by Hilton property in El Salvador struggles with tokenized fundraising
Inversiones Laguardia S.A. de C.V. (HILSV), a hotel developer planning to build a Hampton by Hilton close to the El Salvador International Airport, is grappling to raise the preferred $6.25 million via a tokenization offering. The finances raised so far are a mere $342,000. The fund solicitation is hosted by Bitfinex Securities El Salvador, and the official goal is to raise funds for the construction of an 80-room hotel equipped with a swimming pool, restaurant, and gym. The fundraising mechanism is through a five-year debt security, promising a 10% annual return with a minimum investment of $1,000.
SEC Chair Gary Gensler faces criticism over links to Clinton
Securities and Exchange Commission Chair Gary Gensler is facing backlash due to his association with Hillary Clinton, amidst the conviction of Donald Trump on account of falsifying business records. Gensler served as the chief financial officer during Clinton's 2016 presidential campaign that encountered a Federal Election Commission investigation over misreported campaign spending, concluding in a fine of $133,000 in 2022.
Other News
Google is making a renewed attempt at designing metaverse goggles, despite massive layoffs in its augmented reality department earlier this year. Matter Labs, builders of Ethereum layer-2, have withdrawn their bid to trademark "ZK", short for "zero knowledge" proofs after facing public opposition.
Published At
6/3/2024 10:10:57 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.