Antivirus, Internet Security, Social Media

How safe are social media platforms?

Just how safe are social media platforms? Social networking companies are known to spend millions of dollars to keep their…

Just how safe are social media platforms? Social networking companies are known to spend millions of dollars to keep their users protected from hackers on the internet.

With over 2 billion people having at least one account on either Facebook, Instagram, Youtube or Whatsapp, it goes without saying that social media is one of the cyber criminals’ favorite playgrounds they are always looking to exploit. After all, where else would one find such a large database of active internet users?

In fact, it would be shocking to know that over 80 percent of all internet crimes involve some kind of a social media platform. Criminals might use this information as identity theft to carry out various other crimes on the internet.

But, shouldn’t social media companies make sure that the user information they possess is well protected? Ultimately, that’s where their money is…

They definitely do! Most social media websites and apps that are used today are either owned by Facebook or Google. And as far as any serious intrusion of their servers resulting in substantial data theft is concerned, that actually never happened. Rather, most security compromises happen due to intelligent social engineering by hackers. According to a figure released by Facebook, that number was as high as 500,000 accounts in a single day.

So, what is social engineering? And, how do hackers get access to users’ accounts?

To gain access to a user’s account, all that is required is their username and password. The concept is straightforward. Hackers may employ one of their many deceptive techniques that have been carefully planned to manipulate individuals into providing personal information voluntarily. All they need is a platform to carry it out and that being – social media! Let’s discuss a few of these methods one at a time:

 

Phishing

 

For many, this term might not be new and some might have already been a victim of it. Phishing is a technique to obtain confidential information like usernames, passwords, bank, and credit card details through fraudulent disguised emails or WebPages asking users for their usernames and passwords.

Before the advent of social media, cyber culprits used emails to facilitate such operations. Today, social media websites have made this process a lot easier as once a user’s account is compromised, hackers proceed further by exploiting others in his friend’s network. Since users tend to use the same username and password across multiple platforms for simplicity, a breach of one account might have consequences on others as well.

 

Keyloggers

 

Keyloggers are software that, once installed on the system, monitor every move of a user. This includes typing usernames, passwords, and other sensitive information. The easiest way for hackers to entice users to install such software is by providing a link to a disguised software that claims to have a different purpose.

 

Wi-Fi networks

 

While you should be pretty safe if you are just using your private Wi-Fi connection, things might get a little unpleasant when it comes to public networks. Of course, it depends on the type of network itself and the devices connected to it. Cyber criminals have certainly been able to sniff data from users who are connected to weakly secured networks.

 

Physical access and Theft

 

One doesn’t really need to be a cyber mastermind to gain access to ones social media accounts. All that is required is gaining access to a user’s device. In fact, letting your device be in the wrong hands even for a few minutes is enough to have your valuable data stolen.

Most of us rely on our browsers and different website to remember our usernames and passwords. After all, why should we type in our information when our devices can remember them for us. However, these must be stored somewhere, right? Depending on the browser, these are saved in different locations on the user’s computer. Though they are encrypted, it wouldn’t be safe to presume they cannot be cracked once their location is known.

 

How can we keep our accounts safe?

 

Keeping your accounts secure shouldn’t be a devil of a job. All that is required is a little caution and awareness. After all, a small human error is all that a hacker might be looking for.

We’ve discussed the various techniques cyber attackers use to intrude into users’ accounts. Apart from that, there are various things that should be kept in mind while using social media. Let’s see how we can avoid them.

 

  • Use strong usernames and passwords that are hard to crack. Additionally, you can use a password manager to help you store them.
  • Avoid logging in through public hotspots. Not all social networking websites have a secure login system.
  • Be careful while clicking on links. It is best to avoid them if they aren’t from a known source. Hackers might often post tempting links to malicious phishing websites.
  • Keep your firewall on and anti-virus up-to-date.
  • Go through your profile settings. If you feel you want to hide some of your information, do not hesitate to do so.
  • Provide the least amount of personal information – If you are an administrator of a Facebook page, it is best to keep that role only to your self. An administrator has full access and control to a business page, including the ability to delete it, even if it wasn’t created by him. While you may have enough trust on someone you are assigning the role to, you never know when his account security is breached. Keeping the role to a moderator or editor is the way to go.
  • Remember to log-out of your accounts after every session.
  • Do not share your photos while you are away from home. Your absence might pose a risk of someone breaking into your house.
  • Disable location settings. You wouldn’t want all your friends and followers to know your exact location.

 

Social media platforms spend millions of dollars to keep their users protected. With so many social media networks out there today, one might be too lazy to take the necessary precautions to keep his accounts safe. However, it must be noted that almost all security breaches happen due to one kind of human error or another.

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Internet Security

Oregon passes bill to establish legal control standards for digital assets

Key Takeaways Oregon passed Senate Bill 167 to update commercial laws and include digital assets in the UCC. The new law allows digital assets to be used as collateral and recognizes electronic records and signatures. Share this article Oregon has enacted Senate Bill 167, updating the state’s commercial laws to incorporate digital assets into the

Key Takeaways

  • Oregon passed Senate Bill 167 to update commercial laws and include digital assets in the UCC.
  • The new law allows digital assets to be used as collateral and recognizes electronic records and signatures.

Share this article

Oregon has enacted Senate Bill 167, updating the state’s commercial laws to incorporate digital assets into the Uniform Commercial Code (UCC).

The legislation, signed by Governor Tina Kotek on May 7, introduces UCC Article 12, which creates a legal framework for digital assets including crypto assets, tokenized records, and electronic money.

The bill amends Article 9 to allow digital assets to be used as collateral in secured transactions. It also updates several UCC articles to recognize electronic records, signatures, and hybrid transactions to support digital commerce.

The new law includes transitional provisions that maintain the validity of transactions made before the act’s effective date and provides a one-year period for existing security interests to comply with the new regulations.

Before these changes, there was legal uncertainty about how digital assets fit into existing commercial laws, especially when used as collateral or transferred between parties. The UCC amendments clarify how rights in these assets can be legally controlled, perfected, and enforced.

Apart from SB 167, House Bill 2071 is another crypto-related bill introduced in Oregon.

This proposed legislation focuses on blockchain and digital asset rights. It is aimed at protecting and promoting the use of Bitcoin and other digital assets in the state by limiting regulatory barriers and clarifying the legal framework for blockchain-based activities.

Some of the highlights of the bill include a prohibition on state and local governments from restricting or impairing a person’s ability to accept digital assets as payment for lawful goods and services, as well as the right to conduct peer-to-peer transactions via blockchain or digital asset networks.

The bill is still in the early stages of the legislative process and has not yet advanced to a vote in either the House or the Senate.

Unlike most US states, Oregon lawmakers have not proposed any bill to create a state Bitcoin reserve as of now.

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Internet Security

White House rejects parts of Trump advisers’ sovereign wealth fund proposal

Key Takeaways The White House has rejected parts of a sovereign wealth fund proposal created by Trump’s advisers. The details of the sovereign wealth fund are still under debate with no final decisions announced yet. Share this article The White House has opposed certain elements of a sovereign wealth fund proposal developed by Treasury Secretary

Key Takeaways

  • The White House has rejected parts of a sovereign wealth fund proposal created by Trump’s advisers.
  • The details of the sovereign wealth fund are still under debate with no final decisions announced yet.

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The White House has opposed certain elements of a sovereign wealth fund proposal developed by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick at President Trump’s request, according to a new report from CBS News.

The plan, reportedly delivered by early May, follows Trump’s February executive order directing the Treasury and Commerce departments to develop a framework for a US sovereign wealth fund within 90 days.

The order fueled speculation that the fund might be used to acquire Bitcoin on behalf of the US government.

However, at the time, Bessent and Lutnick said that the fund would indeed focus on warrants, equity, and other non-crypto investments. Still, David Sacks, Trump’s crypto czar, indicated that Bitcoin could be included in the fund’s portfolio.

That no longer appears to be the case after Trump signed a separate executive order establishing a strategic Bitcoin reserve and a digital asset stockpile on March 6, which suggests a standalone approach to crypto holdings.

There were also rumors that the fund might be financed through tariffs and other revenue sources despite ongoing budget deficits. But Lutnick later clarified that tariffs would not be used to support the sovereign wealth fund.

According to the CBS News report, White House spokesperson Kush Desai said the Treasury and Commerce Departments have developed plans in response to Trump’s directive, but no final decisions have been made.

The administration, Desai added, continues to view the initiative as part of its broader effort to safeguard national and economic security.

Details of the fund’s structure and purpose remain under discussion, with no formal announcement expected in the near term.

Sources say Trump has not yet decided how the fund’s proceeds would be used, though he has previously floated the idea of it taking a stake in TikTok, which faces a potential US ban unless ByteDance divests.

Regarding the US Strategic Bitcoin Reserve and the Digital Asset Stockpile, Bessent and Lutnick are also tasked with outlining operational guidelines, custody frameworks, and acquisition strategies. These plans are expected to remain separate from the sovereign wealth fund initiative and are designed to be budget-neutral.

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Internet Security

Crypto Security Breach at Lido DAO Triggers Governance Response

TLDR Lido DAO started an emergency vote to rotate a compromised Chorus One oracle The exploit drained ETH balance and likely resulted from a hot wallet private key leak The issue is restricted to one oracle and is not system-wide Cybersecurity remains a critical issue for cryptocurrency and DeFi Over $2 billion in crypto was

TLDR Lido DAO started an emergency vote to rotate a compromised Chorus One oracle The exploit drained ETH balance and likely resulted from a hot wallet private key leak The issue is restricted to one oracle and is not system-wide Cybersecurity remains a critical issue for cryptocurrency and DeFi Over $2 billion in crypto was […]
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Internet Security

CZ Shares Security Warning After Ledger Discord Hack Exposes User Data

Changpeng Zhao (CZ), founder and former CEO of Binance, shared a security warning after receiving a message regarding a hack of Ledger’s Discord admin account, where a scammer falsely claimed a security flaw and urged users to enter their recovery phrases on a phishing site. Zhao highlighted two critical lessons: the necessity of never sharing

Changpeng Zhao (CZ), founder and former CEO of Binance, shared a security warning after receiving a message regarding a hack of Ledger’s Discord admin account, where a scammer falsely claimed a security flaw and urged users to enter their recovery phrases on a phishing site. Zhao highlighted two critical lessons: the necessity of never sharing [……
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