The FBI served a globally recognized hacking group a dose of their own medicine and shut the network down.
The government infiltrated a ransomware gang called Hive and thwarted a $130 million ransomware demand that impacted over 300 people. News about the take down leaked early Thursday after a message from Hive's website read "The Federal Bureau of Investigation seized this site as part of a coordinated law enforcement action taken against Hive Ransomware."
German Federal Criminal Police and the Dutch National High Tech Crime Unit were also involved in the effort and seized Hive's servers.
"Last night, the Justice Department dismantled an international ransomware network responsible for extorting and attempting to extort hundreds of millions of dollars from victims in the United States and around the world," U.S. Attorney General Merrick Garland said in a statement.
The Justice Department said Hive has targeted over 1,500 victims in over 80 countries over the years and racked up over $100 million.
No arrests have been made in connection with the takedown but Garland said the investigation is ongoing and to "stay tuned."
Some of the targeted victims in the thwarted attack include a Texas school district, which the group was set to demand $5 million, and a Louisiana hospital that would have forked over $3 million.
Nutritional supplement beverage company Athletic Greens has achieved unicorn status. The company announced a new $115 million funding round, bringing its valuation to $1.2 billion. The company's flagship product AG1 combines 75 different vitamins, minerals, and other nutrients into one daily serving. Athletic Greens says it is poised to reach the millions of consumers who are currently driving the health and wellness market's exponential growth. Athletic Greens founder and CEO Chris Ashenden joins Cheddar News' Closing Bell to discuss.
Is Spotify a platform for content creators, or is it a media company? The streaming giant may have to find an answer sooner rather than later amid a controversy involving its most popular podcast host, Joe Rogan. Rogan has hosted guests who have made false claims about COVID-19 vaccines, and in turn, some musicians like Neil Young and Joni Mitchell have removed their discographies from Spotify in protest. Rogan says he welcomes content advisories, and will balance out his guests going forward, but is it enough? And is Spotify liable in any way? John Freeman, Vice President of CFRA Research, joins Closing Bell to discuss Rogan's response to the controversy, whether Spotify should be considered a media company with responsibility for its content, and more.
The gaming industry has seen multiple large scales deals this month alone, including Microsoft's megadeal for Activision Blizzard. And, seemingly in response, rival Sony, picked up Bungie for $3.6 billion, a studio once owned by both Microsoft and Activision. The sector is reportedly on track to spend $150 billion on mergers and acquisitions just this year alone, a record-breaking total, according to investment firm Drake Star Partners. Michael Metzger, a partner at the firm specializing in technology, media, and communications, joined Cheddar to discuss the flurry of deals in the gaming space and what might be behind the hot M&A activity.
Ari Redbord, head of legal and government affairs and TRM Labs, joins Cheddar News to discuss why Facebook is ditching its crypto project and what that means for the space.
A virtual gathering in the online space, Decentraland, of Elvis Presley impersonators is looking to grab the Guinness World Record for most Elvis impersonators in one place after the record-keeping org recently approved the use of avatars as stand-ins for people.
Tesla reported record profits for an electric fourth quarter, but investors still have plenty of questions. The EV giant will not be releasing any new vehicles this year and provided no updates on its Cybertruck. Cheddar News was joined by Ed Butowsky, Chapwood Investments Managing Partner to go over Tesla's quarter and analyze its concerns going forward.
Julius De Kempenaer, Senior Technical Analyst at Stockcharts.com, joined Cheddar News to break down what led to Apple's massive quarter, and what the future may hold for the tech giant as competition with Microsoft ramps up.
