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Alleged JPMorgan hacker set to plead guilty
Andrei Tyurin, one of the key suspects in the huge JPMorgan Chase hack in 2014, is set to plead guilty, according to a court filing obtained by Bloomberg. The Russian reportedly struck a deal with federal prosecutors and will appear at a plea hearing next week in New York.
Key suspect in JPMorgan hack is now in US custody
Closure might be coming for victims of the massive JPMorgan Chase hack in 2014. The country of Georgia has extradited the alleged (and until now mysterious) hacker at the core of the crime, Andrei Tyurin, to the US. The Russian citizen pleaded not guilty in a New York court to charges that included conspiracy, hacking, identity theft and wire fraud. He reportedly worked with mastermind Gery Shalon to steal personal data from JPMorgan and other banks for use in a pump-and-dump stock scheme that may have made hundreds of millions of dollars.
Amazon might introduce its own branded checking accounts
It turns out that healthcare may not be the only new sector that Amazon is venturing into. According to The Wall Street Journal, the online retail giant is in talks with J.P. Morgan to building a product similar to a checking account for Amazon's customer base.
Not even IBM is sure where its quantum computer experiments will lead
Despite the hype and hoopla surrounding the burgeoning field of quantum computing, the technology is still in its infancy. Just a few years ago, researchers were making headlines with rudimentary machines that housed less than a dozen qubits -- the quantum version of a classical computer's binary bit. At IBM's inaugural Index Developer Conference held in San Francisco this week, the company showed off its latest prototype: a quantum computing rig housing 50 qubits, one of the most advanced machines currently in existence.
Amazon gets into healthcare with Warren Buffet and JPMorgan
Amazon just took a surprising turn into the healthcare industry, teaming up with investing hero Warren Buffet and New York-based bank JPMorgan Chase, the Washington Post reports. The project is still in the planning stages, so there isn't yet a lot of info on what form it will take. The idea, however, is to reduce costs while improving patient care with the aid of technology. "The ballooning costs of (health care) act as a hungry tapeworm on the American economy," Berkshire Hathaway founder Warren Buffet said in a statement.
JP Morgan figured out how to advertise on ‘safe’ YouTube channels
YouTube has a long history of failure when it comes to self-policing. It's gotten in hot water multiple times because it has not been able to guarantee that that advertisers' videos wouldn't run on channels that had objectionable content. Indeed, the UK government even pulled advertisements from the service after discovering that they were running alongside extremist videos. Now, Business Insider reports that JP Morgan has created its own in-house algorithm to identify YouTube channels that are "safe" to advertise on.
Get ready to use your smartphone to withdraw cash at ATMs
Soon, you won't need your card to withdraw cash from JPMorgan Chase ATMs. Upgraded machines arriving later this year will be accessible with your phone, using codes generated from its smartphone app. That's only the first stage: second-generation upgrades will offer up NFC access to bank accounts, like Apple Pay and Samsung Pay. Yep, you'll still be able to use your cards, but importantly, the new machines will also have higher withdrawal limits during banking hours — up to $3,000. Future upgrades include the ability to cash checks and pay bill through the machines, but expect to see those features some time in 2018. Chase isn't the only bank looking to involve your smartphone with your money.
Israel, US arrest four over a string of big bank hacks
After months of investigation, law enforcement has nabbed suspects believed to be behind hacks at JPMorgan Chase and other big banks... and they're not quite the master criminals you might expect. Both the FBI and Israeli police have arrested four people for what now appears to be a classic "pump and dump" stock fraud scheme. The group (which includes one still at large) artificially drove up share prices and volumes for 'quiet' companies through a mix of email campaigns and pre-arranged trades, and sold to reap the windfall. In certain situations, they even pushed for private companies to go public solely to turn them into targets.
FBI wants to know if US banks launched revenge hacks against Iran
Your parents might have told you that revenge solves nothing, but it's not clear that American banks have learned the same lesson. Bloomberg sources understand that the FBI is investigating whether or not US financial institutions hired hackers to conduct retaliatory hacks against Iran, crippling the servers that had been used to attack the companies starting in 2012. There isn't any hard evidence banks acted on their anger, although they at least came close. JPMorgan Chase acknowledged that one of its officials proposed an offshore strike that would have knocked the Iranian servers out of commission. The staffer didn't offer a full-fledged plan, however, and nothing appears to have come out of the idea.
JPMorgan Chase was hacked due to two-factor authentication blunder
The hackers that stole millions of depositors' contact info from JPMorgan Chase earlier this year didn't use any kind of sophisticated malware like the one that took down Sony Pictures' computers. No, they managed to steal people's info, because the bank failed to upgrade one of its servers with two-factor authentication, according to The New York Times. Due to the lack of two-factor, the hackers gained access to sensitive info using just log-in credentials stolen from an employee. NYT says people within the company are (understandably) embarrassed about what happened, since the bank typically spends $250 million to make sure its networks are secure. Also, the other banks targeted by the same hackers weren't as affected, presumably because all their security measures were working properly.
JPMorgan: cyberattack stole contact info for 76 million households
Is it just that time of year, or are data breaches just becoming more and more common? No matter: following the report that JPMorgan Chase and a handful of other banks had been hit by hackers comes confirmation from the main financial institution itself. The banking juggernaut says that as many as 76 million households and 7 million small businesses had names, phone numbers, street addresses and email addresses stolen in a cyberattack, according to a regulatory filing spotted by Bloomberg. The nation's largest bank noted that despite these intrusions, however, sensitive information like Social Security and account numbers, login credentials and dates-of-birth were not pilfered. If you have accounts at Chase, now might be time to reset your passwords and contact your local branch, regardless. [Image credit: Getty Images]
JPMorgan and other US banks reportedly hit by cyberattack
A Bloomberg report claims that JPMorgan Chase and "at least" four more banks in the US have been victims of a virtual attack from hackers. The data gathered from the breach could reportedly "be used to drain accounts," according to two Bloomberg sources who have been briefed on the situation by the US government. At the moment, it is unknown which other banks were affected by this, but the FBI has already opened an investigation and is currently working to find out more details. "[We are] working with the United States Secret Service to determine the scope of recently reported cyberattacks against several American financial institutions," said the FBI in a statement. Meanwhile, a different report from CNN Money notes that seven of the "top" 15 banks were on the wrong end of these attacks, per people familiar with the matter -- though such information has not been corroborated by US officials.
Inhabitat's Week in Green: 3D printed boat, algae-based biofuel and a bus that does push-ups
Each week our friends at Inhabitat recap the week's most interesting green developments and clean tech news for us -- it's the Week in Green. The Olympic flame completed its tour through the UK this week as the 2012 Summer Games officially kicked off on Friday, and all eyes have been on London ever since. All week long we've been focusing on the Olympics, beginning with an overview of London's new Olympic Park, which is headlined by the Zaha Hadid-designed Aquatics Centre, and Anish Kapoor's controversial ArcelorMittal Orbit observation tower. For a deeper look at the venues that will be on display at the Olympics over the next two weeks, check out our roundup of the top six green buildings at the Olympics. In addition to the sports stadiums, Olympics visitors will also be treated to the sights and sounds of Coca-Cola's multi-sensory Beatbox Pavilion, an interactive sound and light display that responds to touch. But the art installation that we're most excited about is the one by artist David Cerny, who retrofitted a 6-ton London double-decker bus with a gigantic pair of human arms. Best of all, the arms are motorized, enabling the bus to do push-ups.
JP Morgan: Apple is a sector unto itself
JP Morgan's hardware analyst Mark Moskowitz has laid bare exactly how huge Apple has become lately, calling the company an actual "sector," not just a company any more. Of course, on paper, Apple is competing with other computer and device manufacturers like Dell and Samsung, but the numbers just don't make that comparison meaningful any more, says Moskowitz. Apple's stock is by far the largest single stock in the S&P 500 index, and when you compare the company's income to other tech sectors like Pharmaceuticals and Software as a whole, Apple's take actually lines up within the top 10. I'll say that again, because it's important: Apple's income and operations actually compete with whole industries, not just the rest of the PC market. This isn't just the iPhone or the iPad being a new class of device, it's Apple as a whole company creating a tech sector of its own. That's pretty incredible, and if you haven't yet realized how big Apple has gotten in the past few years (as if the $98 billion in cash wasn't clear enough), maybe that's your wakeup call. Now, this may all seem like financial types just making much ado about numbers, but it actually holds quite a bit of meaning, both for Apple and its competitors going forward. Apple's huge growth in the past few years will have lots of consequences, both for the company and the technology industry at large, and we still haven't figured out just what a lot of those consequences will be.
All Points Bulletin Reloaded blog post focuses on the "home stretch" to launch
Enforcers and criminals better listen up, because it's time for another All Points Bulletin Reloaded blog post. This one focuses on the open beta "home stretch," as the post's title refers to it. With the game's patch 1.5.3 hot off the press, the team is gearing up for patches 1.5.4 through 1.5.7, which are the last planned patches prior to the game's official launch. So what kind of issues have been spotted throughout the span of open beta, and what does the team hope to accomplish prior to the game's official release? Well, sit down and get comfy, because the team has put together quite a list, included after the jump.
Ralph de la Vega 'laughs' when asked about AT&T iPhone exclusivity expiration date, says most customers will stay
We still have no idea what's going on with Apple, Verizon, and the iPhone, but it sounds like AT&T isn't sweating it -- speaking at a J.P. Morgan conference today, Ralph De La Vega reportedly "just laughed" when asked when Ma Bell's iPhone exclusivity would run out, and indicated he wasn't worried about other carriers potentially getting the phone. According to Ralph, some 80 percent of AT&T iPhone customers are on family or business plans, and they're generally less likely to switch, so AT&T thinks it can hang onto them if Apple's phone hits another carrier. That certainly sounds like AT&T's been giving the issue some thought -- another piece of kindling for our ever-smoldering Verizon iPhone Rumor Fire, or just tough talk to keep Apple in line? We might never know -- but we do know that it'll be much harder to keep those iPhone customers if AT&T's service quality continues to suffer, and Ralph acknowledged the troubles, saying that AT&T's biggest issue right now is simply getting enough equipment built in China and put into place. We'll see what happens -- we're not going to believe that a Verizon iPhone is real until Steve asks if we can hear him now. Update: AT&T just sent us a tiny snippet of de la Vega's comments: Having said that, all the improvements that we have seen are not just driven by the iPhone. The non-iPhone customer churn has seen the same reductions as the overall total postpaid customer churn improvement levels. So we've seen improvements in churn that are driven by the iPhone and by non-iPhone customers. And so we view that having a great portfolio of devices and services has been the key to our success and will continue to be. And I think the iPhone will be a part of our portfolio. And I think that customers are still going to come to us, like they've done in the past, looking for great choices, great devices and great services. Interesting -- it certainly doesn't sound like he's betting too heavily on keeping the iPhone exclusive, but we'd like some more context here. We're looking for the full transcript (or better yet, video), so stay tuned. Update 2: And here's the followup question specifically regarding exclusivity: Q: I thought you might share with us the exclusivity end date, Ralph. A: No, I don't think I'm going to be able to do that, Mike. (laughs) Pithy!
Palm moves 50,000 Pre smartphones in opening weekend
We've yet to see Palm or Sprint confirm these numbers, but a quote from JPMorgan found in a Wall Street Journal roundup this morning asserts that "sales [of the Pre] in the first two days probably exceeded 50,000." The report continues by mentioning that said figure was "aligned with expectations, but probably fell short of the 146,000 reported first-gen iPhone sales" during its opening weekend due to "capacity constraints in manufacturing." By and large, most analysts are deeming the Pre launch a success, though it's hard to say whether the suits at Palm and Sprint agree or disagree. No matter how you slice it, 50,000 units in a single weekend ain't nothing to scoff at, but we'd say next weekend's sales could be even more telling. You know, if anything goes down today at 1:00PM ET.[Via ZDNet]Update: A new WSJ report now says analyst ranges are between 50,000 and 100,000. Heck, maybe Palm sold eleventy billion.
JP Morgan retracts iPhone nano insinuations, hints at 3G flavor in 2008
Oh c'mon, it did sound too good to be true, did it not? To just about everyone's chagrin, the hope-filled comments made yesterday by Kevin Chang have now been retracted by JP Morgan, and it looks like the iPhone nano will return to the depths of our imagination for the moment. According to a rebuttal put forth by the North America Equity Research division, the firm "has not been able to independently confirm" his comments with a second source, and also mentions that "a lower-end iPhone appearing in the near-term would be unusual and highly risky." Notably, putting the rumors to rest wasn't the only order of business in the writeup, as it was suggested numerous times throughout the document that JP Morgan believes a "high-priced, non-subsidized 3G model" will surface "in the first half of 2008." Squashing one piece of scuttlebutt whilst conjuring up another (entirely more probable) report, now that's the way we like it.
JP Morgan retracts. Now says "No" to near term "Nano" iPhone
JP Morgan has just issued a note retracting Kevin Chang's earlier projection about a near term iPhone Nano. The new report says that the majority of Chang's assumptions appear to have come from a review of the patent that was published last week, adding that a near-term launch of an iPhone-nano product would be "unusual and highly risky". TUAW brings you the entire report in this exclusive online gallery. Thanks Jeff %Gallery-4710%
