Certainly we hear about eBay being hacked. In fact, it was just revealed that a second security flaw exists. And, we all heard about the Chinese indictments last week. Don’t assume, however, that this means we are on top of the problem. Rather, we (at best) are top of the tip, almost oblivious to the enormous iceberg underneath. This was made plain in recent reporting by Bill Gertz, perhaps America’s preeminent national security reporter. Gertz is the reporter who initially broke the story on my Pentagon findings that there was evidence of financial terrorism at work in the 2008 market collapse. Continue reading
THE US has charged five members of a shadowy Chinese military unit for allegedly hacking US companies for trade secrets, infuriating Beijing which suspended cooperation on cyber issues.
Hacking has long been a major sticking point in relations between the world’s two largest economies, but Washington’s move marks a major escalation in the dispute.
In the first-ever prosecution of state actors over cyber-espionage, a federal grand jury overnight indicted the five on charges they broke into US computers to benefit Chinese state-owned companies, leading to job losses in the United States in steel, solar and other industries. Continue reading