Internet Security

Facebook co-founder, Chris Hughes, calls for Facebook to be broken up

The latest call to break up Facebook looks to be the most uncomfortably close to home yet for supreme leader, Mark Zuckerberg. “Mark’s power is unprecedented and un-American,” writes Chris Hughes, in an explosive op-ed published in The New York Times. “It is time to break up Facebook.” It’s a long read, but worth indulging…


The latest call to break up Facebooklooks to be the most uncomfortably close to home yet for supreme leader, Mark Zuckerberg.

“Mark’s power is unprecedented and un-American,” writes Chris Hughes,in an explosive op-ed published in The New York Times. “It is time to break up Facebook.”

It’s a long read, but worth indulging for a well-articulated argument against the market-denting power of monopolies, shot through with a smattering of personal anecdotes about Hughes’ experience of Zuckerberg — who he at one point almost paints as “only human,” before shoulder-dropping into a straight thumbs-down that “it’s his very humanity that makes his unchecked power so problematic.”

The tl;dr of Hughes’ argument against Facebook/Zuckerberg being allowed to continue its/his reign of the internet knits together different strands of the techlash zeitgeist, linking Zuckerberg’s absolute influence over Facebook, and therefore over the unprecedented billions of people he can reach and behaviourally reprogram via content-sorting algorithms, to the crushing of innovation and startup competition; the crushing of consumer attention, choice and privacy, all hostage to relentless growth targets and an eyeball-demanding ad business model; the crushing control of speech that Zuckerberg — as Facebook’s absolute monarch — personally commands, with Hughes worrying it’s a power too potent for any one human to wield.

“Mark may never have a boss, but he needs to have some check on his power,” he writes. “The American government needs to do two things: break up Facebook’s monopoly and regulate the company to make it more accountable to the American people.”

His proposed solution is not just a break up of Facebook’s monopoly of online attention by re-separating Facebook, Instagram and WhatsApp— to try to reinvigorate a social arena it now inescapably owns — he also calls for U.S. policymakers to step up to the plate and regulate, suggesting an oversight agency is also essential to hold internet companies to account, and pointing to Europe’s recently toughened privacy framework, GDPR, as a start.

“Just breaking up Facebook is not enough. We need a new agency, empowered by Cong

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Internet Security

Target checkouts hit by outage for a second day in a row – TechCrunch

Another day, another Target checkout outage. Many took to social media to complain that checkouts at the retail giant went down for a second day in a row. Many stores were only taking cash and gift cards. It comes after Target suffered a global point-of-sale machine outage on Saturday. Checkouts were down for more than…


Another day, another Target checkout outage.

Many took to social media to complain that checkouts at the retail giant went down for a second day in a row. Many stores were only taking cash and gift cards. It comes after Target suffered a global point-of-sale machine outage on Saturday. Checkouts were down for more than two hours.

Target said in a statement yesterday that it co

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Internet Security

Have I Been Pwned is looking for a new owner

Troy Hunt has revealed he’s looking for an acquirer for the breach notification service he set up more than five years ago — aka: Have I Been Pwned. In a blog post discussing the future of the service, Hunt details how traffic to the site has exploded since January when he uploaded a massive 773M…


Troy Hunthas revealed he’s looking for an acquirer for the breach notification service he set up more than five years ago — aka: Have I Been Pwned.

In a blog post discussing the future of the service, Hunt details how traffic to the site has exploded since January when he uploaded a massive 773M record list of breached emails and passwords that could be used for automated unauthorized logins (aka credential stuffing).

“The extra attention HIBP started getting in Jan never returned to 2018 levels, it just kept growing and growing,” he writes, saying he realized he was getting close to burn out trying to manage the service solo. Hence his decision to seek an acquirer.

HIBP has ridden a wave of growing concern about data breaches and Internet security, with Hunt taking the decision to accept a commercial sponsorship via a partnership with password manager firm 1Passwordlast year.

Its growing profile has also led the service finding favor with governments wanting to monitor their own domains.

Sketching what he hopes to achieve with mor

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Internet Security

SEC expands its war on cryptocurrency companies with a lawsuit against Kik

The Securities and Exchange Commission has sued Kik Interactive for the $100 million token sale the company announced two years ago. It’s an expansion of legal actions that began last year as the SEC seeks to rein in companies that the regulatory agency thinks issued securities illegally. In the lawsuit, the SEC claims that Kik…


The Securities and Exchange Commission has sued Kik Interactive for the $100 million token sale the company announced two years ago.

It’s an expansion of legal actions that began last year as the SEC seeks to rein in companies that the regulatory agency thinks issued securities illegally.

In the lawsuit, the SEC claims that Kikconducted an illegal $100 million offering of digital tokens by selling the tokens to U.S. investors without registering their offer and sale as required under U.S. law.

The complaint alleges that Kik had been losing money for years on its online messaging application and that the company’s management predicted it would run out of money in 2017, precisely when it began laying the groundwork for the launch of its digital token, “Kin.”

The creation of an online marketplace selling through the company’s messaging service was financed by the sale of 1 trillion digital tokens to raise $100 million dollars.

Critical to the SEC’s case is the allegation that Kik marketed its Kin tokens as an investment opportunity, telling investors that rising demand would drive up the value of Kin and that Kik would work to boost that demand.

Kik was supposed to do that by building systems like a Kin transaction service, a rewards system for companies that used Kin, and by incorporating the tokens into the company’s existing messaging app. None of those features existed at the time of the offering, the SEC alleges.

The company also said that it would keep three trillion tokens that could trade on secondary markets and would increase in value as other investors speculated on the currency’s success.

Chat app Kik takes on Facebook with developer ecosystem built on the blockchain

“By selling $100 million in securities without registering the offers or sales, we allege that Kik deprived investors of inf

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Internet Security

Binance resumes trading following $40M bitcoin hack

Cryptocurrency exchange Binance has resumed trading activity. Users can now cancel open orders, deposit crypto assets into their Binance account and, of course, buy and sell cryptocurrencies. You can’t withdraw crypto assets to an external wallet just yet, but the company says that this feature will be available shortly. You can cancel orders now. Trading,…


Cryptocurrency exchange Binance has resumed trading activity. Users can now cancel open orders, deposit crypto assets into their Binanceaccount and, of course, buy and sell cryptocurrencies. You can’t withdraw crypto assets to an external wallet just yet, but the company says that this feature will be available shortly.

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