📉 Tech Giants Prioritize Profits, Wise Data Breach, OpenSSH Risk
Good morning. It’s Tuesday, July 02. Today we are covering:
Fintech company Wise says some customers affected by Evolve Bank data breach
OpenSSH vulnerability regreSSHion puts millions of servers at risk
China Plans Broader Push to Develop Tech Like Musk’s Neuralink
People can move this bionic leg just by thinking about it
Let’s dive in
By Edward Zitron via Where's Your Ed At
Meta, Microsoft, and Google prioritize shareholder value over customer service, leading to the proliferation of unprofitable and unsustainable technologies.
The concept of Shareholder Supremacy, originating from 1916's Dodge vs. Ford Motor Co. case, incentivizes short-term profits and mass layoffs, damaging sustainable business practices.
Jack Welch's management philosophy at General Electric emphasized profit growth through layoffs and financial manipulation, influencing modern corporate strategies that prioritize stock prices over product quality.
𝕏: The Shareholder Supremacy has eaten the world, turning the tech industry into the playground of do-nothing management dictators that see human beings as assets and the customer as subordinate to growth - all inspired by GE’s Jack Welch. - Ed Zitron (@edzitron)
Fintech company Wise says some customers affected by Evolve Bank data breach
By Lorenzo Franceschi-Bicchierai via TechCrunch
Wise announced a data breach at Evolve Bank and Trust affecting some of its customers' personal information, including names, addresses, and Social Security numbers.
The breach, caused by a ransomware attack by the LockBit cybercrime gang, has impacted multiple Evolve partners, including Affirm, EarnIn, Marqeta, Melio, and Mercury, who are assessing the fallout.
Wise reassures that its systems were not compromised and is directly contacting affected customers while continuing to investigate the breach.
𝕏: Evolve has known their systems were compromised since late May. But it appears they didn’t notify impacted fintechs (or end users) until the breach became public last week - Jason Mikula (@mikulaja)
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OpenSSH vulnerability regreSSHion puts millions of servers at risk
By Lucian Constantin via CSO
OpenSSH has a serious remote code execution vulnerability, regreSSHion, which could let unauthenticated attackers gain root access to servers.
Over 14 million OpenSSH instances are potentially vulnerable, with the flaw traced back to a regression of a 2006 flaw reintroduced in October 2020.
Mitigation includes upgrading OpenSSH to a patched version or setting the LoginGraceTime parameter to 0, with the flaw rated 8.1 on the CVSS scale due to the difficulty of exploitation.
𝕏: This OpenSSH RCE advisory is a classic example of hacker craftsmanship, generosity of spirit, & community contribution - a regression of duke’s 2006 vuln - Dug Song (@dugsong)
China Plans Broader Push to Develop Tech Like Musk’s Neuralink
By Foster Wong via Bloomberg
China plans to develop brain-computer interfaces similar to Elon Musk's Neuralink by forming a committee to draft standards for the technology.
The committee will include specialists from various sectors to work on standards for brain information encoding and decoding, data communication, and data visualization.
This initiative signals China's intention to advance its capabilities in the emerging field of brain-computer interface technology.
People can move this bionic leg just by thinking about it
By Sarah Ward via MIT Technology Review
A new neural interface connects a bionic limb to nerve endings in the thigh, allowing the limb to be controlled by the brain, making it feel more natural and reducing phantom limb pain.
The two-step process involves surgery to connect shin and calf muscles, followed by the use of surface electrodes to measure nerve activity, enabling more dynamic and natural movements.
Patients using the neural interface showed significant improvements in mobility, walking 41% faster, navigating obstacles better, and feeling that the prosthetic is truly part of their body.
𝕏: Really enjoyed learning about a mind-controlled leg prosthetic out of @medialab. I write about how it works and when it will be standard of care in @techreview. (It's also the first story out of my @AAASMassMedia fellowship!!). - Sarah (@swardluvspumice)
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