Streetbeat News

Security

AAPL

A counterfeit cryptocurrency app named 'Rabby Wallet & Crypto Solution' on Apple Inc.'s App Store has scammed users, including a reported loss of $5,000. Despite being reported, the app remained accessible for years. This incident raises concerns about the App Store's review process and Apple's ability to protect users from fraudulent apps. The situation is particularly significant as Apple CEO Tim Cook recently emphasized the company's commitment to security, amidst discussions on the EU's App Store regulations potentially compromising iPhone security.

Portfolio Pulse from Rounak Jain

February 19, 2024 | 3:15 pm

ETH-USD

Ethereum co-founder Vitalik Buterin expressed excitement about AI's potential to address Ethereum's major technical challenge: bugs in its code. He highlighted AI-assisted formal verification and bug finding as game-changing applications. Buterin has previously voiced concerns over AI risks but remains optimistic about constructive AI use in cryptocurrency, including prediction markets and user guidance.

Portfolio Pulse from Ananya Gairola

February 19, 2024 | 7:33 am

GOOGL

ME

Marco Troper, the 19-year-old son of former YouTube CEO Susan Wojcicki and a freshman at UC Berkeley, was found dead in his dorm, likely due to a drug overdose. His death highlights the dangers of fentanyl, a leading cause of death among Americans aged 18-45. The Wojcicki family, influential in Silicon Valley, is devastated by the loss.

Portfolio Pulse from Maureen Meehan

February 18, 2024 | 8:01 pm

AAPL

This week in the Appleverse featured the emergence of the 'GoldDigger' Trojan targeting iOS devices, the introduction of Apple's AI tool Keyframer, and mixed reactions to the Vision Pro headset. The 'GoldDigger' Trojan, disclosed by Group-IB, aims to steal facial recognition data and exploit AI-generated deepfakes. Apple's Keyframer animates images using text prompts. Despite some returns due to design and performance issues, the Vision Pro headset now has over 1,000 dedicated apps.

Portfolio Pulse from Benzinga Neuro

February 18, 2024 | 8:07 am

ANET

DIS

NVDA

PANW

TSLA

The article discusses the end of a five-week winning streak for major indexes due to unexpectedly high inflation data, influencing market expectations for Federal Reserve rate cuts. It highlights bullish and bearish perspectives on stocks like Tesla, Nvidia, Disney, and AI-related companies Palo Alto Networks and Arista Networks, as well as a prediction for Dogecoin. Concerns over inflation, market peaks, and corporate governance issues at Disney are also mentioned.

Portfolio Pulse from Michael Cohen

February 17, 2024 | 2:22 pm

LGBI

The SEC has taken action against fraudulent activities involving SHE Beverage Company, a cryptocurrency Ponzi scheme, and Cannabiz Mobile. SHE Beverage Company was ordered to pay over $12 million for a scam share scheme. The SEC is also investigating a crypto Ponzi scheme involving NovaTech, with subpoenas issued to Dapilinu Dunbar and Corrie Sampson. Additionally, a judgment was entered against Anthony Jay Pignatello for a share scam related to Cannabiz Mobile (OTC:LGBI), resulting in a payment of $43,337.

Portfolio Pulse from Neil Dennis

February 16, 2024 | 9:28 pm

EIS

USO

Israel conducted covert attacks on two major gas pipelines in Iran, disrupting gas flow to several provinces and marking an escalation in the ongoing shadow war between the two nations. The attacks, which required deep knowledge of Iran's infrastructure, targeted pipelines carrying gas from the south to major cities, affecting residential homes, government buildings, and factories. Despite the significant disruption, Iran's oil minister claimed the damage was minimal and service was restored quickly. The attacks are seen as a major challenge to Iran's intelligence and security agencies and expose the vulnerability of the country's critical infrastructure.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 8:57 pm

IDAI

Trust Stamp (NASDAQ:IDAI), a provider of AI-powered trust and identity services, has been recognized by the Federal Reserve as a Fraud Mitigation Service Provider for synthetic identity fraud. This recognition follows their participation in a call for participation by the Federal Reserve in September 2022. Trust Stamp serves nearly fifty US banks and is involved in the ICBA ThinkTECH Accelerator, emphasizing the importance of combating synthetic identity fraud for their clients. The company's technology aims to address the challenges posed by Trojans to third-party device-based biometric solutions.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:27 pm

MQ

SQ

V

WFC

Federal regulators are investigating allegations by whistleblowers that Cash App, operated by Block Inc., and its partners, including Visa Inc., Wells Fargo, Marqeta Inc., and Lincoln Savings Bank, have inadequate customer due diligence processes, potentially facilitating money laundering and terrorism financing. The complaints highlight transactions with sanctioned entities, offshore gambling sites, and the sale of illegal data. The Financial Crimes Enforcement Network (FinCEN) and other federal agencies are reviewing these allegations. Cash App's popularity and rapid growth, with 55 million active accounts and significant financial inflows, are contrasted with concerns over its due diligence and the risks to shareholders of Block Inc., Marqeta Inc., and Visa Inc.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 1:48 pm

AAPL

The cybersecurity firm Group-IB has identified the first iOS trojan, named 'GoldDigger', targeting Apple Inc.'s iPhone and iPad users. This trojan aims to steal facial recognition data and use AI-generated deepfakes for bank theft. Initially distributed via Apple's TestFlight, it now uses a Mobile Device Management profile for broader distribution. Although primarily targeting users in Vietnam and Thailand, it poses a global threat. Apple has been informed and is likely working on a fix.

Portfolio Pulse from Rounak Jain

February 16, 2024 | 1:46 pm