Bybit Loses $1.5B in Hack of single cold wallet

Cryptocurrency exchange Bybit has experienced $1.46 billion worth of “suspicious outflows,” according to blockchain sleuth ZachXBT.

The wallet in question appears to have sent 401,346 ETH ($1.1 billion) as well as several other iterations of staked ether (stETH) to a fresh wallet, which is now liquidating mETH and stETH on decentralized exchanges, etherscan shows. The wallet has sold around $200 million worth of stETH so far.

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Bybit CEO Ben Zhou wrote on X that a hacker “took control of the specific ETH cold wallet and transferred all the ETH in the cold wallet to this unidentified address.”

“Please rest assured that all other cold wallets are secure. All withdrawals are normal,” he added.

“My sources confirm it’s a security incident,” ZachXBT added on Telegram.

$1.46 billion would equate to the largest cryptocurrency hack of all time in dollar terms, with $470 million being lost in the Mt Gox Hack, $530 million in the 2018 hack of CoinCheck, and $650 million in the Ronin Bridge exploit.

BTC and ETH dropped more than 1.5% and 2%, respectively, following the transfers.

Source: Bybit Loses $1.5B in Hack but Can Cover Loss, CEO Confirms

So we find out a few things:

Bybit security staff are absolute idiots:

  • keeping that amount of currency in ONE wallet
  • having that wallet connected to the internet

These guys are rolling on so much money they are like a small country and can cover losses like these quite easily.

Apple Says ‘No’ to UK Backdoor Order, Will Just Disable E2E Cloud Encryption Instead

Good work, Britain. Owners of Apple devices in the United Kingdom will be a little less safe moving forward as the company pulls its most secure end-to-end (E2E) encryption from the country. The move is in response to government demands there that Apple build a backdoor into its iCloud encryption feature that would allow law enforcement to access the cloud data of any iPhone user around the world under the guise of national security.

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Following Apple’s decision to pull E2E cloud encryption from the UK, the company on Friday told Bloomberg that “enhancing the security of cloud storage with end-to-end encryption is more urgent than ever before” and that it “remains committed to offering our users the highest level of security for their personal data and are hopeful that we will be able to do so in the future in the United Kingdom.”

The UK order asked Apple for access to global user data under the country’s Investigatory Powers Act, a law that grants officials the authority to compel companies to remove encryption under a “technical capability notice.”

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“Security officials asked not only that Apple allow the UK government access to UK residents’ encrypted cloud storage, but that the UK government get access to any Apple user’s encrypted cloud storage,” said David Ruiz, an online privacy expert at Malwarebytes. “To demand access to the world’s data is such a brazen, imperialist maneuver that I’m surprised it hasn’t come from, well, honestly, the US. This may embolden other countries, particularly those in the ‘Five Eyes,’ to make a similar demand of Apple.” Ruiz questioned what this means for the UK’s privacy guarantees with the US.

Law enforcement is always looking for new ways to conduct surveillance under the guise of protecting the public—Edward Snowden famously revealed a dragnet of surveillance created after 9/11 that pulled in data on individuals domestic and abroa. But once the genie is taken out of the proverbial bottle, it is hard to put it back, and the capabilities can end up in the wrong hands. Police already have access to plenty investigative powers, privacy advocates say, and the public should be very cautious about giving them more that could be ripe for abuse.

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With today’s move, Apple is essentially saying that it would rather pull the E2E encryption altogether and inform customers they will be less safe, rather than build an open door for the UK government. It is a shrewd, gigachad move by Apple even though consumers there will no longer have the same amount of security as others around the globe. iCloud encryption is important as the service has in the past been a target of hackers who penetrated the accounts of celebrities to steal their nudes and post them online in a scandal that was called “the Fappening.”

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Source: Apple Says ‘No’ to UK Backdoor Order, Will Disable E2E Cloud Encryption Instead

So, no security or privacy for those in the UK then.

External Li supply reshapes Li deficiency and lifetime limit of batteries

Lithium (Li) ions are central to the energy storing functionality of rechargeable batteries1. Present technology relies on sophisticated Li-inclusive electrode materials to provide Li ions and exactingly protect them to ensure a decent lifetime2. Li-deficient materials are thus excluded from battery design, and the battery fails when active Li ions are consumed3. Our study breaks this limit by means of a cell-level Li supply strategy. This involves externally adding an organic Li salt into an assembled cell, which decomposes during cell formation, liberating Li ions and expelling organic ligands as gases. This non-invasive and rapid process preserves cell integrity without necessitating disassembly

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As a proof-of-concept, we demonstrated a 3.0 V, 1,192 Wh kg−1 Li-free cathode, chromium oxide, in the anode-less cell, as well as an organic sulfurized polyacrylonitrile cathode incorporated in a 388 Wh kg−1 pouch cell with a 440-cycle life. These systems exhibit improved energy density, enhanced sustainability and reduced cost compared with conventional Li-ion batteries. Furthermore, the lifetime of commercial LiFePO4 batteries was extended by at least an order of magnitude. With repeated external Li supplies, a commercial graphite|LiFePO4 cell displayed a capacity retention of 96.0% after 11,818 cycles.

Source: External Li supply reshapes Li deficiency and lifetime limit of batteries | Nature

HP buys Humane’s AI pins, will brick them in 10 days. Like with their VR hardware, HP likes turning hardware into sustainable junk.

AI hardware startup Humane has given its users just ten (10!) days notice that their Pins will be disconnected. In a note to its customers, the company said AI Pins will “continue to function normally” until 12PM PT on February 28. On that date, users will lose access to essentially all of their device’s features, including but not limited to calling, messaging, AI queries and cloud access. The FAQ does note that you’ll still be able to check on your battery life, though.

Humane is encouraging its users to download any stored data before February 28, as it plans on permanently deleting “all remaining customer data” at the same time as switching its servers off.

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Today’s discontinuation announcement was brought about by the acquisition of Humane by HP, which is buying the company’s intellectual property for $116 million but clearly has no interest in its current hardware business

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Source: All of Humane’s AI pins will stop working in 10 days

GameStop CEO Scapegoats DEI for Company Troubles. So much for diamondhands then.

GameStop CEO Ryan Cohen took to X on Tuesday to blame wokeness and DEI for the retail chain’s impending exit from Canada and France. The company, which managed to survive the pandemic thanks to the infamous memestock frenzy, has closed more than 700 stores since 2020 as more game distribution moves digital.

In a release, GameStop said that “as part of an evaluation of its international assets,” the company, “intends to pursue a sale of its operations in France and Canada.” Shortly thereafter, Cohen took to X with his comments on “wokeness” and “DEI.”

“Email M&A@gamestop.com if you’re interested in buying GameStop Canada or Micromania France,” Cohen wrote. “High taxes, Liberalism, Socialism, Progressivism, Wokeness, and DEI included at no additional cost if you buy today.”

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Source: GameStop CEO Scapegoats DEI for Company Troubles

Microcomb chips help pave the way for thousand times more accurate GPS systems

Today, our mobile phones, computers, and GPS systems can give us very accurate time indications and positioning thanks to the over 400 atomic clocks worldwide. All sorts of clocks — be it mechanical, atomic or a smartwatch — are made of two parts: an oscillator and a counter. The oscillator provides a periodic variation of some known frequency over time while the counter counts the number of cycles of the oscillator. Atomic clocks count the oscillations of vibrating atoms that switch between two energy states with very precise frequency.

Most atomic clocks use microwave frequencies to induce these energy oscillations in atoms. In recent years, researchers in the field have explored the possibility of using laser instead to induce oscillations optically. Just like a ruler with a great number of ticks per centimeter, optical atomic clocks make it possible to divide a second into even more time fractions, resulting in thousands of times more accurate time and position indications.

“Today’s atomic clocks enable GPS systems with a positional accuracy of a few meters. With an optical atomic clock, you may achieve a precision of just a few centimeters.

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The core of the new technology, described in a recently published research article in Nature Photonics, are small, chip-based devices called microcombs. Like the teeth of a comb, microcombs can generate a spectrum of evenly distributed light frequencies.

“This allows one of the comb frequencies to be locked to a laser frequency that is in turn locked to the atomic clock oscillation,” says Minghao Qi.

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the minimal size of the microcomb makes it possible to shrink the atomic clock system significantly while maintaining its extraordinary precision,”

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Another major obstacle has been achieving simultaneously the “self-reference” needed for the stability of the overall system and aligning the microcomb’s frequencies exactly with the atomic clock’s signals.

“It turns out that one microcomb is not sufficient, and we managed to solve the problem by pairing two microcombs, whose comb spacings, i.e. frequency interval between adjacent teeth, are close but with a small offset, e.g. 20 GHz. This 20 GHz offset frequency will serve as the clock signal that is electronically detectable. In this way, we could get the system to transfer the exact time signal from an atomic clock to a more accessible radio frequency, ”

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“Photonic integration technology makes it possible to integrate the optical components of optical atomic clocks, such as frequency combs, atomic sources and lasers, on tiny photonic chips in micrometer to millimeter sizes, significantly reducing the size and weight of the system,” says Dr. Kaiyi Wu.

The innovation could pave the way for mass production, making optical atomic clocks more affordable and accessible for a range of applications in society and science. The system that is required to “count” the cycles of an optical frequency requires many components besides the microcombs, such as modulators, detectors and optical amplifiers. This study solves an important problem and shows a new architecture, but the next steps are to bring all the elements necessary to create a full system on a chip.

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Source: Microcomb chips help pave the way for thousand times more accurate GPS systems | ScienceDaily

Meta slashes staff and their stock options, but it’s ok: executives’ annual bonuses just went from 75% base salary to 200% and stock is around 2000% of salary

After another round of mass layoffs and reports of slashed stock options for remaining employees, Meta has like clockwork opted to reward its top executives with a substantial bonus increase.

The Facebook giant revealed in a government filing that its Compensation, Nominating and Governance Committee (CNGC) approved a target annual bonus increase for its top executive officers bar CEO Mark Zuckerberg. The bonus was raised from 75 percent of base salary to a whopping 200 percent, effective with the 2025 annual performance period.

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According to Meta’s April 2024 proxy statement [PDF], CTO Andrew Bosworth’s base salary was $945,000. His actual eligible earnings were slightly lower due to the timing of his raise. However, factoring in a 75 percent target bonus and Meta’s 150 percent company performance multiplier for 2023, his total bonus payout amounted to about $1.05 million.

Assuming Bosworth’s salary remains the same, and Meta’s company performance percentage stays at 150 percent in 2025, the new 200 percent target bonus would push his bonus to nearly $3 million. That’s before any stock-based compensation and other add-ons. And he’s not even the highest-paid member of Meta’s named executive team.

For balance’s sake, and some might find this hard to swallow but, $3 million annual cash compensation for a CTO in Bosworth’s position is about right for Silicon Valley; it’s nothing outrageous, relatively speaking. The vast majority of his pay package is in shares; in 2023 for instance, he was awarded more than $20 million in stock. The salary, like for many in his role, is the cherry on top of an enormous cake.

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Some of that bonus cash, though, might be coming from Meta’s latest round of layoffs, which saw around 3,700 people – about five percent of its workforce – axed this month. The cut reportedly targeted low performers, and followed a year in which the biz reported a net income of $62.36 billion, a 59 percent year-over-year increase.

This comes reports surfaced this week that Meta has cut back on its yearly distribution of stock options by 10 percent to most staff, though we do note that the corp’s share price has climbed 10 percent in the past month, and 46 percent for the past year.

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Source: Meta executives’ annual bonuses just got a bit bigger • The Register

The economics of greed – gut the company and grab the money. In the meantime blame people for drinking Starbucks coffee that they can’t pay their rent.

Nvidia Drops Support for PhysX on Its RTX 50-Series Cards

Earlier this week, Nvidia confirmed in its official forums that “32-bit CUDA applications are deprecated on GeForce RTX 50 series GPUS.” The company’s support page for its “Support plan for 32-bit CUDA” notes that some 32-bit capabilities were removed from CUDA 12.0 but does not mention PhysX. Effectively, the 50 series cards cannot run any game with PhysX as developers originally intended. That’s ironic, considering Nvidia originally pushed this tech back in the early 2010s to sell its GTX range of GPUs.

PhysX is a GPU-accelerated physics system that allows for more realistic physics simulations in games without putting pressure on the CPU. This included small particle effects like fog or smoke and cloth movement.

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a game like Batman: Arkham City […] with an Nvidia RTX 5070 Ti, and when you try to enable hardware-accelerated physics in settings, you’ll receive a note reading, “Your hardware does not support Nvidia Hardware Accelerated PhysX. Performance will be reduced without dedicated hardware.” [ …] The in-game benchmark shows that with the hardware accelerated physics setting enabled on the RTX 5070 Ti, I saw a hit of 65 average FPS compared to the setting off, from 164 to 99. The difference in ambiance without the setting enabled is striking.

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In other games, like Borderlands 2, it simply grays out the PhysX option in settings. As one Reddit user found, you can force it through editing the game files, but that will result in horrible framerate drops even when shooting a gun at a wall. It’s not what the game makers intended. If you want to play these older games in their prime, your best option is to plug a separate, older GeForce GPU into the system and run 32-bit PhysX games exclusively on that card.

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we see Nvidia deprecating its own hardware capabilities, hurting games that are little more than a decade old

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Source: Nvidia Drops Support for PhysX on Its RTX 50-Series Cards