Top tech news stories today: May 16, 2024

Today’s top tech news features major breakthroughs and dramatic events. U.S. officials charged two MIT grads with a $25 million crypto heist, and Canada’s “Crypto King” faces fraud charges for $29.2 million. Dive into these stories and more to stay ahead in the tech industry.

Blockchain

1. US charges two brothers with novel $25 million cryptocurrency heist

Anton and James Peraire-Bueno, MIT graduates, were arrested for stealing $25 million in cryptocurrency by exploiting Ethereum’s blockchain in April 2023. They used MEV-boost software to manipulate pending transactions. Charged with wire fraud and money laundering, this is the first U.S. criminal case of its kind. (Aol.)

2. Canadian self-proclaimed ‘Crypto King’ and associate charged with fraud

Canadian “Crypto King” Aiden Pleterski, 25, and his associate Colin Murphy, 27, were arrested for defrauding investors of over $29.2 million. Following a 16-month investigation, they were charged with fraud and money laundering. (Yahoo!News)

3. Wallet recovery firms buzz as locked-out crypto investors panic in bitcoin boom

The surge in bitcoin prices has led to a spike in calls to crypto wallet recovery firms from retail investors locked out of their accounts. Issues include forgotten passwords, lost two-factor authentication devices, and cyberattacks. Recovery services, driven by high bitcoin values, report significant increases in requests and charge substantial fees for successful retrievals. (Reuters)

Internet governance

4. IAB appoints Brian Haberman and Russ Housley to the Internet Society Board of Trustees

The Internet Society Elections Committee announced the final results of the 2024 elections and IETF selections for the Board of Trustees. Maureen Hilyard, Kathleen Moriarty, Brian Haberman, and Russ Housley were elected for 3-year terms, starting at the Board’s Annual General Meeting on 22-23 June in Reston, Virginia. (Internet Society)

IT infrastructure

5. Exa establishes new route between Ashburn and Atlanta

Exa Infrastructure announced a new route connecting Ashburn and Atlanta, enhancing its North American presence. Atlanta’s data centre market, the fastest-growing in the US, saw a 211% increase in active projects. (Capacity)

6. ITW 2024: BW Digital and Telin sign MOU to build subsea cable

BW Digital and Telin signed an MoU to develop the Hawaiki Nui 1 submarine cable system, linking Australia, Indonesia, and Singapore with a design capacity of over 240 Tbps. Spanning 10,000km, it will enhance connectivity and security in Australasia and Southeast Asia, with service expected by 2027. (Capacity)

7. ITW Exclusive: Digital Realty unveils liquid to chip cooling tech

Digital Realty has introduced groundbreaking liquid-to-chip cooling technology, enhancing high-density deployment support for AI and data-intensive applications. (PR Newswire)

Tech trends

8. Anthropic taps Instagram co-founder as product chief

AI startup Anthropic appointed Instagram co-founder Mike Krieger as chief product officer to enhance its AI offerings. Krieger will lead product engineering and design, focusing on expanding the reach of Anthropic’s AI chatbot Claude. (Reuters)

AI

9. US raises concerns to Chinese officials about AI misuse

U.S. officials raised concerns about China’s “misuse” of artificial intelligence during formal bilateral talks in Geneva, emphasising the need for open communication on AI risks. (Reuters)

10. Cerebras Systems, Aleph Alpha to supply AI to German military

Cerebras Systems will supply a supercomputing system to German tech startup Aleph Alpha, which will use it to develop AI for the German Armed Forces. (The Star)

11. AI could bring 50 bln euro benefit to Italian companies, Accenture study shows

Italian companies could boost added value by €50 billion ($54.3 billion) by 2030 through generative AI, according to an Accenture study. An additional €30 billion ($32.47 billion) could come from strengthening the “Made in Italy” brand. (Reuters)

12. Veon teams up with partners to bridge online ‘AI language gap’

Veon, Beeline Kazakhstan, the Barcelona Supercomputing Centre, and the GSMA are collaborating to address the “AI language gap” for under-represented languages. (Arab News)

13. IBM to add 800 AI-related jobs in Ireland

IBM will create 800 jobs in Cork, Dublin, and Waterford over the next three years, boosting Ireland’s tech sector. Roles in digital sales, consulting, and R&D will focus on security, automation, and cloud computing. (Irish Examiner)

IoT

14. GlobalPlatform releases protocol boosting IoT security

GlobalPlatform has introduced a new Secure Channel Protocol to enhance security and remote management for IoT devices on low-power networks. This protocol simplifies device management, supports regulatory compliance, and promotes sustainability by reducing energy consumption. (IoT News)

15. Modems used in many industrial IoT sectors could be easily hacked

Kaspersky researchers discovered severe vulnerabilities in Telit Cinterion modems used in industrial IoT devices, allowing remote, unauthenticated root access. (Tech Radar)

Sylvia-Shen

Sylvia Shen

Sylvia Shen, a news reporter at BTW media dedicated in Fintech and Blockchain. She graduated from University of California, Davis. Send tips to s.shen@btw.media.

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