Fake Tweet Causes Stock Market Plunge

The professional hysterics and security fetishists are a threat to the financial stability of the United States.  A fake tweet from a hacker who had obtained control of the Associated Press's Twitter feed caused stock markets to lose billions of dollars in value in a matter of minutes yesterday.  From USA Today:

A hacked Twitter account of a major news organization Tuesday dispelled any lingering notion that tweets are mere 140-character missives that harmlessly fly off into the ether.

The FBI and the Securities and Exchange Commission are investigating the security breach that momentarily sent stocks into free fall Tuesday, erasing some $200 billion from the market's value.

At 1:07 p.m. ET, a tweet from the Associated Press exclaimed: "Breaking: Two Explosions in the White House and Barack Obama is injured." Within seconds, Wall Street was in panic mode and the Dow Jones industrial average and other benchmark indexes plummeted.

The Associated Press quickly revealed its Twitter account was a hacked fake, and the White House issued assurances that the president was safe. "The president is fine," spokesman Jay Carney said. "I was just with him."

Do Wall Street types actually believe everything they read on the internet?  lol

BitTorrent Launches Secure Alternative to Cloud Storage

From Torrent Freak:

BitTorrent Inc. has opened up its Sync app to the public today. The new application is free of charge and allows people to securely sync folders to multiple devices using the BitTorrent protocol. Complete control over the storage location of the files and the absence of limits is what sets BitTorrent’s solution apart from traditional cloud based synchronization services.

Dropbox, Google Drive, Microsoft Skydrive and Mega are just a few examples of the many file-storage and backup services that are available today.  All these services rely on external cloud based hosting to back up and store files. This means that you have to trust these companies with your personal and confidential files, and that your storage space is limited . . . 

BitTorrent Sync’s functionality is comparable to services such as Dropbox and Skydrive, except for the fact that there’s no cloud involved. Users sync the files between their own computers and no third-party has access to it.

Besides increased security, BitTorrent sync transfers also tend to go a lot faster than competing cloud services. Another advantage is that there are no storage or transfer limits, so users can sync as many files as they want, for free.

Senate Pushes Discriminatory Internet Tax Bill

From the Wall Street Journal:

As early as Monday, the Senate will vote on a bill that was introduced only last Tuesday. The text of this legislation, which would fundamentally change interstate commerce, only became available on the Library of Congress website over the weekend. . . .

For Senators curious about what they're voting on, it is the same flawed proposal that Mike Enzi (R., Wyo.) introduced in February. It has been repackaged to qualify for a Senate rule that allows Majority Leader Harry Reid to bypass committee debate and bring it straight to the floor.

Mr. Enzi's Marketplace Fairness Act discriminates against Internet-based businesses by imposing burdens that it does not apply to brick-and-mortar companies. For the first time, online merchants would be forced to collect sales taxes for all of America's estimated 9,600 state and local taxing authorities.

Beware of Government's Sock Puppet Propagandists

We're all well aware of the fact that governments and corporations routinely employ individuals to spread propaganda messages online.  But the military may soon be automating the process. From The Guardian:

The US military is developing software that will let it secretly manipulate social media sites by using fake online personas to influence internet conversations and spread pro-American propaganda.

A Californian corporation has been awarded a contract with United States Central Command (Centcom), which oversees US armed operations in the Middle East and Central Asia, to develop what is described as an "online persona management service" that will allow one US serviceman or woman to control up to 10 separate identities based all over the world.

The project has been likened by web experts to China's attempts to control and restrict free speech on the internet. Critics are likely to complain that it will allow the US military to create a false consensus in online conversations, crowd out unwelcome opinions and smother commentaries or reports that do not correspond with its own objectives.

The discovery that the US military is developing false online personalities – known to users of social media as "sock puppets" – could also encourage other governments, private companies and non-government organisations to do the same.

CISPA: Your Data Will Be Shared Without a Warrant

From ZDNET:

Major technology and Web companies — not limited to Google, Facebook, Twitter and Microsoft — will not be allowed to promise to protect users' privacy should CISPA pass Congress. For those out of the loop, CISPA will allow private sector firms to search personal and sensitive user data of ordinary U.S. residents to identify this so-called "threat information", and to then share that information with each other and the US government — without the need for a court-ordered warrant. . . . those who signed up to services under the explicit terms that data would not be shared — with perhaps the exception of the U.S. government if a valid court order or subpoena is served — would no longer have such rights going forward.

CISPA: The Government's War on Privacy Continues

From The Guardian:

If you are eligible to vote in the United States, please take a break from whatever you're doing today and call your member of the US House of Representatives. Tell the staff member who answers the phone that you value your privacy. And tell him or her that you are deeply unhappy that the House seems poised to destroy everyone's online – and by extension offline – privacy by passing the Cyber Intelligence Sharing and Protection Act (Cispa) . . . [The bill] invites companies like internet service providers to share information so they can coordinate defenses.

Worthy ideas in the abstract, but horrible in the details: cyber-security is a genuine concern, as we've seen repeatedly. But this bill is easily the worst attack on the open internet since the infamous Stop Online Piracy Act (Sopa), an online censorship bill that was killed in the wake of widespread opposition early last year.  As the Electronic Frontier Foundation's Mark Jaycox put it in an open forum on Reddit last week, here are some of Cispa's consequences:

Companies have new rights to monitor user actions and share data – including potentially sensitive user data – with the government without a warrant.
Cispa overrides existing privacy law, and grants broad immunities to participating companies.

Information provided to the federal government under Cispa would be exempt from the Freedom of Information Act (FOIA) and other state laws that could otherwise require disclosure (unless some law other than Cispa already requires its provision to the government).

Cispa's authors argue that the bill contains limitations on how the federal government can use and disclose information by permitting lawsuits against the government. But if a company sends information about a user that is not cyberthreat information, the government agency does not notify the user, only the company.

CISPA and the Corporate Lobby for Internet Censorship

Maplight reports that CISPA, the Cyber Intelligence Sharing and Protection Act, known to its critics as the internet censorship act, has picked up nearly three dozen co-sponsors in the US House following a corporate lobbying effort of IBM executives to their puppets in the legislature.  From Maplight:

On Monday, the same day that IBM flew nearly 200 executives to Washington D.C. to lobby Congress in support of CISPA, 35 members of the House signed onto the bill as new co-sponsors. Proir to Monday, CISPA had only 2 co-sponsors since being introduced in February.
On Tuesday, the Obama Administration issued a veto threat against the bill in its current form citing privacy concerns.
Data: MapLight analysis of reported contributions to the 35 new CISPA co-sponsors and the entire House from interest groups supporting and opposing CISPA.

• New co-sponsors have received 37 times as much money ($7,311,336) from interests supporting CISPA than from interests opposing ($200,062).
• Members of the House in total have received 16 times as much money ($67,665,694) from interests supporting CISPA than from interests opposing ($4,164,596).

The EFF and the ACLU have organized a campaign to defeat CISPA.  From the EFF:

CISPA is a dangerous "cybersecurity" bill that would grant companies more power to obtain "threat" information (such as from private communications of users) and to disclose that data to the government without a warrant -- including sending data to the National Security Agency.

CISPA was recently reintroduced in the House of Representatives. EFF is joining groups like ACLU and Fight for the Future in combating this legislation.  Last year, tens of thousands of concerned individuals used the EFF action center to speak out against overbroad and ineffective cybersecurity proposals. Together, we substantially changed the debate around cybersecurity in the U.S., moving forward a range of privacy-protective amendments and ultimately helping to defeat the Senate bill.