Internet Security

The real risk of Facebook’s Libra coin is crooked developers

Everyone’s worried about Mark Zuckerberg controlling the next currency, but I’m more concerned about a crypto Cambridge Analytica. Today Facebook announced Libra, its forthcoming stablecoin designed to let you shop and send money overseas with almost zero transaction fees. Immediately, critics started harping about the dangers of centralizing control of tomorrow’s money in the hands…


Everyone’s worried aboutMark Zuckerberg controlling the next currency, but I’m more concerned about a crypto Cambridge Analytica.

Today Facebook announced Libra, its forthcoming stablecoindesigned to let you shop and send money overseas with almost zero transaction fees. Immediately, critics started harping about the dangers of centralizing control of tomorrow’s money in the hands of a company with a poor track record of privacy and security.

Facebook anticipated this, though, and created a subsidiary called Calibra to run its crypto dealings and keep all transaction data separate from your social data. Facebook shares control of Libra with 27 other Libra Association founding members, and as many as 100 total when the token launches in the first half of 2020. Each member gets just one vote on the Libra council, so Facebook can’t hijack the token’s governance even though it invented it.

With privacy fears and centralized control issues at least somewhat addressed, there’s always the issue of security. Facebook naturally has a huge target on its back for hackers. Not just because Libra could hold so much value to steal, but because plenty of trolls would get off on screwing up Facebook’s currency. That’s why Facebook open-sourced the Libra Blockchain and is offering a prototype in a pre-launch testnet. This developer beta plus a bug bounty program run in partnership with HackerOne is meant to surface all the flaws and vulnerabilities before Libra goes live with real money connected.

Yet that leaves one giant vector for abuse of Libra: the developer platform.

Facebook announces Libra cryptocurrency: All you need to know

“Essential to the spirit of Libra . . . the Libra Blockchain will be open to everyone: any consumer, developer, or business can use the Libra network, build products on top of it, and add value through their services. Open access ensures low barriers to entry and innovation and encourages healthy competition that benefits consumers,” Facebook explained in its white paper and Libra launch documents. It’s even building a whole coding language called Move for making Libra apps.

Apparently Facebook has already forgotten how allowing anyone to build on the Facebook app platform and its low barriers to “innovation” are e

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Internet Security

Twitter launches a Privacy Center to centralize its data protection efforts

Twitter today is launching a new resource that aims to serve as the central place for everything related to the company’s efforts around privacy and data protection. The new site, the Twitter Privacy Center, will host information about Twitter’s initiatives, announcements and new privacy products, as well as other communication about security incidents. The company…


Twittertoday is launching a new resource that aims to serve as the central place for everything related to the company’s efforts around privacy and data protection. The new site, the Twitter Privacy Center, will host information about Twitter’s initiatives, announcements and new privacy products, as well as other communication about security incidents.

The company says it wanted to create a centralized resource so it would be easier to find all the information about Twitter’s work in this area. However, the impacts of Europe’s data protection regulation, GDPR, likely also spurred Twitter’s efforts on this front, along with other data laws.

For its own purposes, Twitter now needs to have a more organized approach to consumer data privacy. As a result, it makes sense to put Twitter’s work and announcements onto a consumer-facing site that’s easy to navigate and use.

The new Twitter Privacy Center splits informat

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Internet Security

Detectify raises additional €21M for its ethical hacker network

Detectify, the Sweden-born cybersecurity startup that offers a website vulnerability scanner powered by the crowd, has raised €21 million in further funding. Leading the round is London-based VC firm Balderton Capital, with participation from existing investors Paua Ventures, Inventure and Insight Partners. Detectify says the new funding will be used to continue to hire “world-class”…


Detectify, the Sweden-born cybersecurity startup that offers a website vulnerability scanner powered by the crowd, has raised €21 million in further funding.

Leading the round is London-based VC firm Balderton Capital, with participation from existing investors Paua Ventures, Inventure and Insight Partners.

Detectifysays the new funding will be used to continue to hire “world-class” talent to further accelerate the company’s growth and deliver on its mission to reduce internet security vulnerabilities.

Founded in late 2013 by a self-described group of “elite hackers” from Sweden, the company offers a website security tool that uses automation to scan websites for vulnerabilities to help cu

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Internet Security

Bored of the coins

Something strange is afoot in the world of cryptocurrencies. For the first time since Satoshi dropped Bitcoin on us like a benevolent bomb, this painfully new, highly bizarre field has become … well … boring. The true believers will tell you that great strides are being made, and the mainstream breakthrough is just around the…


Something strange is afoot in the world of cryptocurrencies. For the first time since Satoshi dropped Bitcoin on us like a benevolent bomb, this painfully new, highly bizarre field has become … well … boring. The true believers will tell you that great strides are being made, and the mainstream breakthrough is just around the corner, but they’ve been saying that for long enough that it’s beginning to seem reasonable to start wondering if these wolves were ever real.

I know, I know, it seems especially weird to be saying this at the same time that the President of China and CEO of Facebook have both become blockchain advocates. But China’s cryptocurrency, if it happens, will be a panopticoin, a tool to centralize monetary control even more firmly in the hands of the Communist Party, nothing like the decentralized censorship-resistant programmable money that the crypto community is theoretically all about; and Facebook’s, while making technical progress, keeps losing partners and gaining enemies.

The crypto community is currently all agog about “DeFi,” for decentralized finance, a movement which basically expands cryptocurrencies from “censorship-resistant money” to “censorship-resistant financial instruments,” such as collateralized loans and interest-bearing investments, along with “staking” (not really DeFi, but often treated as it.) Inside the c

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Internet Security

TikTok’s new set of safety videos teach users about features, the app’s focus on ‘positivity’

TikTok today released a new set of safety videos designed to playfully inform users about the app’s privacy controls and other features — like how to filter comments or report inappropriate behavior, among other things. One video also addresses TikTok’s goal of creating a “positive” social media environment, where creativity is celebrated and harassment is…


TikToktoday released a new set of safety videos designed to playfully inform users about the app’s privacy controls and other features — like how to filter comments or report inappropriate behavior, among other things. One video also addresses TikTok’s goal of creating a “positive” social media environment, where creativity is celebrated and harassment is banned.

This particular value — that TikTok is for “fun” — is cited whenever the Beijing-based company is pressured about the app’s censorship activity. Today, TikTok hides under claims that it’s all about being a place for lighthearted, positive behavior. But in reality, it had been censoring topics China doesn’t want its citizens to know about — like the Hong Kong protests, for example. Meanwhile, it doesn’t appear to take action on political issues in the U.S., where hashtags like #dumptrump or #maga have millions of views.

To figure out its approach to moderation, TikTok recently hired corporate law firm K&L Gates to advise it on how to create policies that won’t have it coming under the eye of U.S. regulators.

In the meantime, TikTok is tackling the job of crafting the sort of community it wants through these instructive videos. But it’s not just issuing its commands from the top-down — TikTok partners with its own creators to participate in the videos and then promote them to fans. The first set of videos, released in February, featured a dozen TikTok creators, for example.

This time around, the company has pulled in a doze

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