DeFi Platform Qubit Finance Begs Hacker To Return $80 Million In Stolen Funds

Qubit Finance took to Twitter last night to beg hackers to return more than $80 million in stolen cryptocurrency this week. ZDNet reports: On Thursday, the DeFi platform said their protocol was exploited by a hacker who eventually stole 206,809 binance coins from Qubit’s QBridge protocol, worth more than $80 million according to PeckShield. An hour after the first message, the company explained that they were tracking the exploiter and monitoring the stolen cryptocurrency. They noted that they contacted the hacker and offered them the maximum bug bounty in exchange for a return of the funds, something a number of other hacked DeFi platforms have tried to middling success. They shared multiple messages on Twitter that they purportedly sent to the hacker offering a bug bounty of $250,000 and begging for a return of the stolen funds.

“We propose you negotiate directly with us before taking any further action. The exploit and loss of funds have a profound effect on thousands of real people. If the maximum bounty offer is not what you are looking for, we are open to have a conversation. Let’s figure out a situation,” the Qubit Finance Team wrote. The company later explained in a blog post that their Qubit protocol “was subject to an exploit to our QBridge deposit function.” […] Blockchain security company CertiK released a detailed explanation of how the attack occurred and has been tracking the stolen funds as the hackers move them to different accounts. “For the non-technical readers, essentially what the attacker did is take advantage of a logical error in Qubit Finance’s code that allowed them to input malicious data and withdraw tokens on Binance Smart Chain when none were deposited on Ethereum,” CertiK explained.

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Samsung Spilled Up To 763K Gallons of Sulfuric Acid Waste Into Austin Tributary

New submitter blackprint writes: The City of Austin released a memo saying that Samsung released as much as 763,000 gallons of sulfuric acid waste into a Northeast Austin creek over a period as long as 106 days. They confirmed the leak has stopped, but no fish or macro invertebrates survived in the impacted area. They don’t know if there are any long-term impacts, but pH levels in the area have returned close to normal. According to the memo, “Public access to this area is limited, and there are no nearby parks.”

They have not stated the cause of the spill. “Spill investigators and scientists took a look at the area Jan. 18-19 and saw iron staining in the tributary channel consistent with a low pH environment,” reports local news station KXAN, citing the memo. “WPD says it was in this tributary stretch from the Samsung plant to the main branch of Harris Branch Creek that WPD staff found no surviving aquatic life, including fish.”

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Democrats Unveil Bill To Ban Online ‘Surveillance Advertising’

Democrats introduced a new bill that would ban nearly all use of digital advertising targeting on ad markets hosted by platforms like Facebook, Google, and other data brokers. From a report: The Banning Surveillance Advertising Act — sponsored by Reps. Anna Eshoo (D-CA), Jan Schakowsky (D-IL), and Sen. Cory Booker (D-NJ) — prohibits digital advertisers from targeting any ads to users. It makes some small exceptions, like allowing for “broad” location-based targeting. Contextual advertising, like ads that are specifically matched to online content, would be allowed. “The ‘surveillance advertising’ business model is premised on the unseemly collection and hoarding of personal data to enable ad targeting,” Eshoo, the bill’s lead sponsor, said in a Tuesday statement. “This pernicious practice allows online platforms to chase user engagement at great cost to our society, and it fuels disinformation, discrimination, voter suppression, privacy abuses, and so many other harms. The surveillance advertising business model is broken.”

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Congress’s Big Tech Stock Stakes Make Regulation Awkward

A proposed antitrust bill has cast a spotlight on the immense portfolios of dozens of lawmakers. From a report: At a December press conference, House Speaker Nancy Pelosi was asked her opinion of proposed restrictions on stock trading by members of Congress. Her response was quick and clear: She hated the idea. “We are a free-market economy,” Pelosi, whose family’s shareholdings exceed $100 million, shot back. “They should be able to participate in that.” Growing numbers of legislators from both sides of the aisle disagree. Following a series of recent abuses, at least five bills making their way through Congress would forbid lawmakers from owning individual stocks or force them to move their assets into a blind trust. One would make violators turn over any profits they earn to the U.S. Treasury Department. Another would extend the ban to family members. A third would also encompass top staffers.

[…] The fight over the measure highlights the potential conflicts of interest in lawmakers’ shareholdings. A Bloomberg Businessweek examination of financial filings found that at least 18 senators and 77 House members report owning shares of one or more of the companies, and the law could have a significant effect on the value of their portfolios. Pelosi disclosed that her husband has as much as $25.5 million in Apple stock alone. Republican Representative Mike McCaul of Texas reported that his family holds shares of all four tech giants, with a collective value topping $8 million. Last year members of Congress filed more than 4,000 trading disclosures involving more than $315 million of stock and bond transactions, according to Tim Carambat, a researcher who maintains databases of lawmakers’ financial trades.

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Kombucha Cultures Make Excellent Sustainable Water Filters, Study Finds

Long-time Slashdot reader shoor shares a report from Ars Technica: The refreshing kombucha tea that’s all the rage these days among certain global demographics might also hold the key to affordable, environmentally sustainable living membranes for water filtration, according to a recent paper published in the American Chemical Society journal ACS ES&T Water. Experiments by researchers at Montana Technological University (MTU) and Arizona State University (ASU) showed that membranes grown from kombucha cultures were better at preventing the formation of biofilms — a significant challenge in water filtration — than current commercial membranes.

Co-author Katherine Zodrow, an environmental engineer at MTU, led an earlier 2020 study demonstrating the feasibility of making sustainable living filtration membranes (LFMs) out of a bacterial cellulose network and the native microorganisms of a kombucha SCOBY (symbiotic culture of bacteria and yeast) culture. Zodrow and her new collaborators made their membranes for this latest round of experiments the same way: by placing a SCOBY in a growth solution of sugar, black tea, and distilled white vinegar dissolved in deionized water. The researchers then placed the mixture in a temperature-controlled room for 10-12 days until a thick membrane formed on the mixture’s surface. The grown membranes were stored in deionized water and used in experiments within eight days. The 20 liters of raw water samples for the experiments were taken from the three drinking water treatment plants in Butte, Montana: Basin Creek Reservoir, Moulton Reservoir, and Big Hole River. The water samples were then pretreated in accordance with standard practices at each plant.

Both the LFMs and polymer-based filters, the researchers discovered, became clogged over time, causing them to flow and filter more slowly. The LFMs used in the experiments, however, showed between 19 and 40 percent better performance than their commercial counterparts on that score. The SCOBY-based LFMs were also more resistant to befouling. While biofilms eventually formed, fewer microorganisms were found in those films. Zodrow et al. sequenced the DNA of any bacteria and fungi in the SCOBY-based membrane and found that 97 percent of the bacteria present belonged to the genus Acetobacter. This is not surprising, since it’s also the dominant bacteria in kombucha, but it may explain why the LFMs performed so well with regard to biofilms. As the name implies, a defining characteristic of this genus is the ability to oxidize organic carbon sources like sucrose, glucose, and ethanol into acetic acid, which is known for its antimicrobial properties. Acetobacter has also been shown to reduce or even remove biofilms, in keeping with the results of Zodrow et al.’s experiments.

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Manufacturers Have Less Than Five Days’ Supply of Some Computer Chips, Commerce Department Says

Manufacturers and other buyers of computer chips had less than five days’ supply of some chips on hand late last year, leaving them vulnerable to any disruptions in deliveries, the Commerce Department reported Tuesday as it pushed Congress to endorse federal aid for chip makers. The Washington Post reports: Manufacturers’ median chip inventory levels have plummeted from about 40 days’ supply in 2019 to less than five days, according to a survey of 150 companies worldwide that the Commerce Department conducted in September. “This means a disruption overseas, which might shut down a semiconductor plant for 2-3 weeks, has the potential to disable a manufacturing facility and furlough workers in the United States if that facility only has 3-5 days of inventory,” the Commerce Department concluded in a six-page summary of its findings.

The lack of chip inventory leaves auto manufacturers and other chip users with “no room for error,” Commerce Secretary Gina Raimondo said Tuesday as she presented the findings. “A covid outbreak, a storm, a natural disaster, political instability, problem with equipment — really anything that disrupts a [chip-making] facility anywhere in the world, we will feel the ramifications here in the United States of America,” she said. “A covid outbreak in Malaysia has the potential to shut down a manufacturing facility in America.”

“The reality is Congress must act,” Raimondo added, urging lawmakers to pass a proposal for $52 billion in federal subsidies to incentivize construction of chip factories. “Every day we wait, we fall further behind.” The Senate passed the measure last year. The legislation has been tied up for months in the House, though House Democrats are expected to introduce their version of the legislation as soon as this week. Industry executives say federal funding is likely to create more long-term supply of chips but not to alleviate the short-term shortages because chip factories take years to build.

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Quantum Computers Are a Million Times Too Small To Hack Bitcoin

MattSparkes shares a report from New Scientist: Quantum computers would need to become around one million times larger than they are today in order to break the SHA-256 algorithm that secures bitcoin, which would put the cryptocurrency at risk from hackers. Breaking this impenetrable code is essentially impossible for ordinary computers, but quantum computers, which can exploit the properties of quantum physics to speed up some calculations, could theoretically crack it open.
[Mark Webber at the University of Sussex, UK, and his colleagues] calculated that breaking bitcoin’s encryption in this 10 minute window would require a quantum computer with 1.9 billion qubits, while cracking it in an hour would require a machine with 317 million qubits. Even allowing for a whole day, this figure only drops to 13 million qubits. This is reassuring news for bitcoin owners because current machines have only a tiny fraction of this — IBM’s record-breaking superconducting quantum computer has only 127 qubits, so devices would need to become a million times larger to threaten the cryptocurrency, something Webber says is unlikely to happen for a decade. The study has been published in the journal AVS Quantum Science.

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Twitter Suspends Wordle-Ruining Bot

DHS Warns of Russian Cyberattack On US If It Responds To Ukraine Invasion

As tensions rise in the standoff over Ukraine, the Department of Homeland Security has warned that the U.S. response to a possible Russian invasion could result in a cyberattack launched against the U.S. by the Russian government or its proxies. ABC News reports: “We assess that Russia would consider initiating a cyber attack against the Homeland if it perceived a US or NATO response to a possible Russian invasion of Ukraine threatened its long-term national security,” a DHS Intelligence and Analysis bulletin sent to law enforcement agencies around the country and obtained by ABC News said. The bulletin was dated Jan. 23, 2022.

Russia, DHS said, has a “range of offensive cyber tools that it could employ against US networks,” and the attacks could range from a low level denial of service attack, to “destructive” attacks targeting critical infrastructure. “We assess that Russia’s threshold for conducting disruptive or destructive cyber attacks in the Homeland probably remains very high and we have not observed Moscow directly employ these types of cyber attacks against US critical infrastructure — notwithstanding cyber espionage and potential prepositioning operations in the past,” the bulletin said. Last year, Russian cybercriminals launched a ransomware attack on Colonial Pipeline, shutting down operations and causing widespread outages across the country. Meat supplier JBS also had its operations shutdown due to Russian based hackers.

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