Cybersecurity

Facebook sues Ukrainian hacker for selling user information from 178 million accounts

Facebook is suing a Ukrainian national suspected of scraping and selling information from 178 million users on the platform in 2018-2019, according to American publication Insider. According to the court documents, Ukrainian hacker Alexander Solonchenko exploited a feature in Facebook Messenger called ‘contact importer,’ which allows users to sync their phone address books and view which of …

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Security service busts Russia-backed bot farm attacking Crimea Platform

Ukraine’s Security Service (SBU) detained four Kyiv residents suspected of operating a bot farm to spread disinformation about the Crimea Platform summit on social media. The suspects used 15,000 fake online accounts, the so-called bots, to write disparaging content about the results of thesummit, posing as ordinary users of Facebook, Instagram and TikTok, SBU said on Aug. 28. …

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Ukraine’s police arrest hackers attacking firms in South Korea, universities in US

Ukrainian police said on June 16 that it detained a group of hackers blamed for ransomware attacks that cost its victims — South Korean and U.S. firms — over $500 million. The criminals face up to eight years in prison for violating computer crime and money-laundering laws. After two dozes raids in and around Kyiv, police arrested …

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Ukrainian-American startup raises $7.5 million to fight mobile ad fraud

Scalarr, a Ukrainian-founded startup that uses machine learning to combat ad fraud, has raised $7.5 million in Series A funding, as reported by TechCrunch. Scalarr’s Series A was led by the EBRD with participation from OTB Ventures, SpeedInvest and  TMT Investments. The fresh money will be used to expand the company’s business in Asia and …

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Ajax Systems acquires Ukrainian engineering team to stand even stronger “against evil”

Last week Ajax Systems, a Ukrainian company that sells smart security systems in 90 countries in the world, announced the acquisition of the engineering team of Concepter, a design and product development studio. The Concepter developers will become members of Ajax’s various R&D teams. “We’ve added the Concepter developers to the Ajax Systems team to …

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Backed by Ukrainian programmers, US startup Very Good Security raises $60 million in Series C round

On December 21 Very Good Security (VGS) a San Francisco startup with substantial activity in Ukraine, raised $60 million in a funding round led by Vertex Ventures US, one of the company’s earliest investors. Other existing investors, including Goldman Sachs (GS Growth) and Andreessen Horowitz (a16z), also took part in this Series C round, Fortune …

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US sentences Ukrainian techie to 9 years for stealing $10 million from Microsoft

A high-profile criminal case involving a Ukrainian techie and $10 million he stole from tech giant Microsoft is over. A federal district court in Seattle sentenced Volodymyr Kvashuk to nine years in prison, finding him guilty of 18 federal felonies, the US attorney’s office for the Western District of Washington reported on Nov. 9. Kvashuk, 26, …

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Ukraine, main victim of cyberattacks, learns to defend itself

A notorious attack with the Petya ransomware hit Ukraine in June 2017, affecting 12,500 computers around the country, including ones in government institutions. The computer virus then started to spread across the globe, paralyzing large businesses worldwide. Thus, Ukraine received the unfortunate distinction of being the victim of what is now called the most devastating …

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Spinbackup, a cloud security startup with Ukrainian roots, raises $1.5 million in Silicon Valley

Spinbackup, a San-Francisco-headquartered cloud security solution provider with Ukrainian roots, has raised “around $1.5 million” in a round led by Polish angel VC firm bValue. TMT Investments, a London-based fund with Russian connections, and unnamed Silicon Valley business angels also took part in the round. (The latter’s contribution amounted to approximately one third of total …

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Ukraine launches free school for white hackers

Earlier this month Cyber School, a cyber-security school which claims to offer “the most difficult program in Eastern Europe,” announced its launch in Kyiv (Kiev). It is hosted by UNIT.City, an innovation park funded by the Ukrainian serial entrepreneur and philanthropist Vasyl Khmelnytsky. Kicking off in late November, the English-only program starts with a four-week crash course, …

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How Ukrainian and Russian hackers turned stolen press releases into $100 million

At a Kiev nightclub in the spring of 2012, 24-year-old Ivan Turchynov made a fateful drunken boast to some fellow hackers. For years, Turchynov said, he’d been hacking unpublished press releases from business newswires and selling them, via Moscow-based middlemen, to stock traders for a cut of the sizable profits. Oleksandr Ieremenko, one of the …

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