Luna Cryptocurrency’s Collapse Led to Multi-Million-Dollar Exploits, Closure of a Crypto Money Market

The Record reports that the decentralized money market Venus Protocol “announced on Thursday evening about $11 million had been lost due to people exploiting the historic collapse of the Luna cryptocurrency and its sister stablecoin UST.”
Venus Protocol and several other platforms use Chainlink to provide its users with real-time price estimations of the tokens on its platform that are available for lending and borrowing. But the tool began having issues with Luna on Thursday as the price continued to fall precipitously. “As a result, it was possible to deposit UST and LUNA as collateral and borrow other tokens, with an underpriced collateral valuation….” decentralized finance researcher Vali Dyor explained.
Venus Protocol says they became “aware of errant price behavior for LUNA,” and “Upon investigation, it was learned that the price feed had been paused by Chainlink due to extreme market conditions.”

“The price on Venus was last listed at about $0.107 while the market price was $0.01. In order to de-risk this situation, the protocol was paused using PauseGuardian via multisig. Upon this desyncing event, it was discovered that 2 accounts had suspiciously deposited a sum of 230,000,000 LUNA valued at over $24,000,000. Assets were borrowed totalling around $13,500,000.”

Venus Protocol has a “Risk Fund” that will be used to cover the shortfall, the Record reports. But they added that Venus Protocol wasn’t the only one having problems:

As the price of Luna cratered overnight, exchanges and markets were forced to make difficult choices on how to approach the cryptocurrency. Binance stopped all trading of Luna and UST on its platform but the moves have done little to stop all cryptocurrency values from being depressed across the board.

DeFi platform Blizz Finance announced that it was attacked in the same way Venus Protocol was, but they did not release an estimate on the losses incurred. But they said the protocol was “drained” before it could stop the process.

And then Blizz Finance posted a post-mortem early Sunday morning:

Large amounts of LUNA were deposited and used to drain all available lendable assets… Prior to the incident the Chainlink team did attempt to notify us that the oracle would pause, however we did not receive the message in time. We were unaware of Chainlink’s minimum price circuit breaker. This behaviour is not mentioned anywhere within Chainlink’s documentation…

Blizz has no treasury or development fund and a significant portion of the stolen assets belonged to our team. As such we regret to announce the protocol has been paused and we do not intend to resume operations. We will be shutting down the front-end and closing official communication channels in the coming days….

We are very sorry for the losses incurred by our users. We thank the community for their support on this journey and deeply regret that this is how it came to an end.

They posted one additional detail on Twitter. “We are reaching out to a Chinese community who is believed to have doxxed individuals who participated in the attacks.”

Read more of this story at Slashdot.

Twitter Turns Its Privacy Policy Into a Videogame about a Dog

What did you think of Twitter Data Dash?
The Guardian describes it as “a Super Nintendo-style browser game that recaps Twitter’s private policy.”

And the Verge applauds the game — released Wednesday — for its “delightful pixel art aesthetic.”

“Welcome to PrivaCity!” reads a description of the game on the site. “Get your dog, Data, safely to the park.

“Dodge cat ads, swim through a sea of DMs, battle trolls, and learn how to take control of your Twitter experience along the way….”

The game itself is a pretty straightforward side-scrolling platformer. Each level is themed around what I can best describe as Twitter Things — one features cats wearing ad boards, another has you avoiding trolls — and your goal is to collect five bones as quickly as you can. If you get the bones, the game will explain something about Twitter’s privacy settings related to that level and even offer a button linking to Twitter’s settings. When you beat the cat ad level, for example, you’ll see a message about how Twitter customizes your experience on the platform and points to where you can turn personalized ads on or off….

Twitter introduced the game as part of a bigger push around its privacy policy, which the company has rewritten. “We’ve emphasized clear language and moved away from legal jargon,” Twitter said on its Safety account.

Gizmodo calls the game “adorable,” but also “buggy”. And they also have some quibbles with its ultimate message:
It’s a bit rich that Twitter made a game about avoiding faceless advertisers when the platform is actively doing everything it can to make ads tougher to avoid….
[A]fter watching our personas bounce from level to level with our lil blue dog in tow, it became clear that this game is less for us — or any Twitter user, really — and more for the company itself. It’s a way to paper over uncomfortable topics like “privacy” and “consent” and “ownership of our personal data” with a lil blue dog, collecting lil bones by hopping across lil stages. Just promise you won’t think about where those bones came from in the first place.

Read more of this story at Slashdot.

Elon Musk Warns Twitter Users, ‘You Are Being Manipulated by the Algorithm’

Twitter’s potential new owner just made this announcement to his 93.1 million followers. “Very important to fix your Twitter feed,” the annoncement began:

1. Tap home button.
2. Tap stars on upper right of screen.
3. Select “Latest tweets”.

You are being manipulated by the algorithm in ways you don’t realize.

Easy to switch back & forth to see the difference.

Currently it’s been pinned to the top of Elon Musk’s Twitter feed. And minutes later, he added this reply to his own tweet. “This message brought to you by the Illuminaughty.”
Musk’s motivation isn’t clear — but just minutes earlier he’d tweeted a reply to own tweet from Friday that had suggested Twitter users check a sample of 100 Twitter accounts for the percentage of fake/spam/duplicate accounts. “I picked 100 as the sample size number,” Musk had added as a reply Friday, “because that is what Twitter uses to calculate less than 5% fake/spam/duplicate.” Musk’s follow-up tweet today?

“Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100! This actually happened.”

The tweets follow three more from the last 24 hours which all apparently comment wryly on Musk’s planned acquisition of Twitter. “Whoever thought owning the libs would be cheap never tried to acquire a social media company!” Musk tweeted earlier this afternoon. “At least, that’s what the lib hivemind thinks haha.”

And an earlier tweet appeared to allude to his recently-expressed interest in the number of fake/spam accounts on Twitter. Friday night, Elon Musk tweeted:

“The bots are angry at being counted.”

Read more of this story at Slashdot.

America’s FAA Shifts Gears Slightly on Certifying Future ‘Flying Taxi’ Pilots

Flying cars — or even electric flying taxis — are the dream of several well-funded manufacturers building “electric vertical-takeoff and landing aircraft” (or eVTOLs).
But will they face stricter government regulations than anticipated? Long-time Slashdot reader
wired_parrot reports that America’s Federal Aviation Administration has shifted gears — “revising it certification requirements for eVTOLS from small aircraft to a powered-lift category.” (The original submission cites a “growing number” of issues for the industry to resolve — and asks whether this raises concerns about the viability of the whole potential eVTOL market.)

Meanwhile, AVWeb reports:
According to a Reuters report, the impetus for the shift came from an ongoing audit by the U.S. Department of Transportation’s Office of the Inspector General. The IG said so-called Urban Air Mobility vehicles present the FAA with “new and complex safety challenges….”

In a written response to a request for clarification, an FAA spokesperson told AVweb:

“The FAA’s top priority is to make sure the flying public is safe. This obligation includes our oversight of the emerging generation of eVTOL vehicles. The agency is pursuing a predictable framework that will better accommodate the need to train and certify the pilots who will operate these novel aircraft.
“Our process for certifying the aircraft themselves remains unchanged. All of the development work done by current applicants remains valid and the changes in our regulatory approach should not delay their projects. As this segment of the industry continues to grow, we look forward to certifying innovative new technologies that meet the safety standards that the public expects and deserves.”

Read more of this story at Slashdot.

Nuclear Energy: the Case Against

“We do not need to plunge headlong into a nuclear future,” argues Serhii Plokhy, author of the book Atoms and Ashes: From Bikini Atoll to Fukushima.
He notes Belgium’s adding a 10-year extension to the life of two of its nuclear reactors, France’s program to build 14 new reactors, and Boris Johnson’s pledge to create supply 25% of the UKs power needs with nuclear energy by 2050.
On the surface, the switch to nuclear makes sense. It would not only enable European countries to meet their ambitious net zero targets, since it produces no CO2. It would also make them less vulnerable to Russian threats, and allow them to stop financing the Russian war machine….

What the Russian takeover of [Ukraine] nuclear facilities exposed is a hazard inherent in all nuclear power. In order for this method of producing electricity to be safe, everything else in society has to be functioning perfectly. Warfare, economic collapse, climate change itself — all of these increasingly real risks make nuclear sites potentially perilous places. Even without them, the dangers of atomic fission remain, and we must ask ourselves: are they really worth the cost…?

Technological developments, growing international cooperation and rising safety standards did indeed do a great deal to ensure that no major nuclear accident occurred for 25 years after Chernobyl. But the Fukushima explosions demonstrated that such improvements have not eradicated the dangers surrounding nuclear power plants…. Can anything be done to make reactors safer? A new generation of smaller modular reactors, designed from scratch to produce energy, not to facilitate warfare, has been proposed by Bill Gates, and embraced, among others, by Macron. The reactors promised by Gates’s TerraPower company are still at the computer-simulation stage and years away from construction. But his claim that in such reactors “accidents would literally be prevented by the laws of physics” must be taken with a pinch of salt, as there are no laws of war protecting either old or new reactors from attack.

There is also serious concern that the rapid expansion in the number of plants, advocated as a way of dealing with climate change, will increase the probability of accidents. While new technology will help to avoid some of the old pitfalls, it will also bring new risks associated with untried reactors and systems. Responsibility for dealing with such risks is currently being passed on to future generations.

This is the second great risk from nuclear power: even if a reactor runs for its lifetime without incident, you still have a lot of dangerous material left at the end of it. Fuel from nuclear power plants will present a threat to human life and the environment for generations to come, with the half-life of some radioactive particles measured in tens of thousands of years…. Nuclear power plants generally have no alternative to storing their high-level radioactive waste on site….If what we bury today in the New Mexico desert — the waste created by our nuclear ambitions — is so repulsive to us, why do we pass it on to others to deal with?

The author’s counter-proposal: expanding the use of renewable energy:
New research should be encouraged, grid infrastructure should be built up, and storage capacity increased. Billions that would otherwise go to new nuclear infrastructure, with all the attendant costs of cleanup that continue for decades and beyond, should be pumped instead into clean energy.

In the meantime, we obviously have an existing nuclear industry, and the solution is not to run away in panic, but to take good care of the facilities that already dot our countryside. We must not abandon the industry to its current state of economic hardship, as that would only mean inviting the next accident sooner rather than later.

Read more of this story at Slashdot.

San Francisco Police Are Using Driverless Cars As Mobile Surveillance Cameras

BeerFartMoron shares a report from Motherboard: For the last five years, driverless car companies have been testing their vehicles on public roads. These vehicles constantly roam neighborhoods while laden with a variety of sensors including video cameras capturing everything going on around them in order to operate safely and analyze instances where they don’t. While the companies themselves, such as Alphabet’s Waymo and General Motors’ Cruise, tout the potential transportation benefits their services may one day offer, they don’t publicize another use case, one that is far less hypothetical: Mobile surveillance cameras for police departments.

“Autonomous vehicles are recording their surroundings continuously and have the potential to help with investigative leads,” says a San Francisco Police department training document obtained by Motherboard via a public records request. “Investigations has already done this several times.”

Privacy advocates say the revelation that police are actively using AV footage is cause for alarm. “This is very concerning,” Electronic Frontier Foundation (EFF) senior staff attorney Adam Schwartz told Motherboard. He said cars in general are troves of personal consumer data, but autonomous vehicles will have even more of that data from capturing the details of the world around them. “So when we see any police department identify AVs as a new source of evidence, that’s very concerning.”

As companies continue to make public roadways their testing grounds for these vehicles, everyone should understand them for what they are — rolling surveillance devices that expand existing widespread spying technologies,” said Chris Gilliard, Visiting Research Fellow at Harvard Kennedy School Shorenstein Center. “Law enforcement agencies already have access to automated license plate readers, geofence warrants, Ring Doorbell footage, as well as the ability to purchase location data. This practice will extend the reach of an already pervasive web of surveillance.”

Read more of this story at Slashdot.

Samsung Is Reportedly Planning To Raise Chip Prices By 20%

Samsung is currently considering raising the cost of its semiconductor products by up to 20%, as well as those it manufactures for other companies, which would ultimately lead to consumers paying more for new devices. PC Magazine reports: As Bloomberg reports, the price hike consideration is in response to just about everything in the world getting more expensive, including the cost of raw materials and the logistics surrounding production pipelines. The final price increase is expected to be linked to sophistication of the components being manufactured, but that still means vendors will end up paying between 15-20% more for chips. Samsung is a huge player in the semiconductor industry, producing processors for a wide-range of industries, as well as memory products, storage solutions, and foundry solutions which allow other semiconductor products to be manufactured. Adding up to a 20% price rise across all those sectors will inevitably push up prices for any products that use Samsung components.

Read more of this story at Slashdot.

AT&T Is About To Get Away With Its Bogus $1.99 ‘Administrative Fee’

Sean Hollister writes via The Verge: Since 2013, AT&T has quietly bilked customers out of hundreds of millions of dollars with a bogus “administrative fee,” a fee it more than doubled to $1.99 a month in 2018. For a few years there, a California class-action lawsuit made it seem like AT&T might finally get taken to task. But this week, both sides told a judge they’d settle for just $14 million — meaning customers may get less than 10 percent of what they paid AT&T, while AT&T gets to keep on charging them. According to the proposed settlement agreement in Vianu v. AT&T Mobility — which still needs to be approved by a judge — just about every AT&T Wireless postpaid customer in California since 2015 will be eligible for an estimated payment of between $15 and $29.

But again, that’s only a fraction of what AT&T’s own records show it charged: $180 per customer on average since 2015, according to documents. The settlement “represents a refund of approximately 6-11 months of the average fees,” they read. Meanwhile, the lawyers are likely to get $3.5 million. “The estimated payment amount represents a strong result for the Settlement Class, particularly given the substantial risks, costs, and delay of continued litigation,” reads the proposed settlement agreement, going on to list all the ways that the lawyers suing AT&T believe that AT&T might still win the case. […]

Oh, and you won’t even get a check in the mail if you’re still an AT&T customer, assuming this version of the settlement is approved. The money will be credited back to your AT&T account, where AT&T can dip its hand right back in again for that $1.99 — or more if it feels emboldened enough to increase the fee yet again. (Admittedly, the AT&T account could be a more reliable way to make sure customers get money back.) The settlement websites can be found here.

An AT&T spokesperson issued the following response: “We deny the allegations in this lawsuit because we clearly disclose all fees that are charged to our customers. However, we have decided to settle this case to avoid lengthy, expensive litigation.”

Read more of this story at Slashdot.

The Milky Way’s Black Hole Comes to Light

Astronomers announced today that they had pierced the veil of darkness and dust at the center of our Milky Way galaxy to capture the first picture of “the gentle giant” dwelling there: A supermassive black hole, a trapdoor in space-time through which the equivalent of 4 million suns have been dispatched to eternity, leaving behind only their gravity and a violently bent space-time. From a report: The image, released in six simultaneous news conferences in Washington, D.C., and around the globe, showed a lumpy doughnut of radio emission framing an empty space as dark and silent as death itself. The new image joins the first ever picture of a black hole, produced in 2019 by the same team, which photographed the monster at the heart of the M87. The new image shows new details of the astrophysical violence and gravitational weirdness holding sway at the center of our placid-looking hive of starlight.

Black holes were an unwelcome consequence of Albert Einstein’s general theory of relativity, which attributes gravity to the warping of space and time by matter and energy, much as a mattress sags under a sleeper. Einstein’s insight led to a new conception of the cosmos, in which space-time could quiver, bend, rip, expand, swirl and even disappear forever into the maw of a black hole, an entity with gravity so strong that not even light could escape it. Einstein disapproved of this idea, but the universe is now known to be speckled with black holes. Many are the remains of dead stars that collapsed inward on themselves and just kept going. But there seems to be a black hole at the center of nearly every galaxy, ours included, that can be millions or billions of times as massive than our sun. Astronomers still do not understand how these supermassive black holes have grown so big.

Read more of this story at Slashdot.

Cress Seeds Grown in Moon Dust Raise Hopes for Lunar Crops

The prospect of growing crops on the moon has edged a little closer after researchers nurtured plants — some more successfully than others — in lunar soil for the first time. From a report: Scientists planted thale cress seeds in moon dust brought back by three Apollo missions and watched them sprout and grow into fully fledged plants, raising the potential for astronauts to farm off-world crops. But while the plants survived in the lunar soil, or regolith, they fell short of thriving, growing more slowly than cress planted in volcanic ash, developing stunted roots, and showing clear signs of physiological stress.

“We found that plants do indeed grow in lunar regolith, however they respond as if they are growing in a stressful situation,” said Dr Anna-Lisa Paul, a molecular biologist at the University of Florida. Thale cress, or Arabidopsis thaliana, is a small flowering plant related to broccoli, cauliflower and kale. “It’s not especially tasty,” Paul added. The experiments are the first to investigate whether plants can grow in lunar soil and follow an 11-year effort to obtain the rare material. Because the soil is so precious, Nasa loaned only 12g of it — a few teaspoons — to the researchers who conducted the tests. Scientists have long wondered whether the moon could support crops, but with space agencies now planning to return humans to the surface, and potentially build lunar settlements for visitors, the question has become more pressing.

Read more of this story at Slashdot.