UK Cyber Security News of the Week

Welcome to our weekly roundup of the latest UK cyber security news, where we bring you the most important and relevant stories from the world of cybersecurity in the UK. In this edition, we will cover some of the major developments and trends that happened in the past week, such as:

• Cabinet Office Minister Warns of Rising Cyber Attacks by Russia-Affiliated Groups: Oliver Dowden, the Cabinet Office minister responsible for cyber security, issued an “unprecedented warning” to businesses and public sector organisations that cyber attacks by groups linked to Russia were on the rise. He also pledged to look at extending cyber resilience rules to businesses working in critical infrastructure, such as energy, transport, and health1.
• Irish Data Protection Commission Fines TikTok €345 Million Over Child Data Violations: The Irish Data Protection Commission (DPC), which is the lead regulator for TikTok in the European Union, imposed a record-breaking fine on the popular short-form video platform for violating the EU’s General Data Protection Regulation (GDPR) in relation to its handling of children’s data. The investigation found that TikTok failed to provide transparency information to child users, set their content to public by default, and used dark patterns to steer them towards privacy-intrusive options2.
• North Korea’s Lazarus Group Suspected in £22 Million CoinEx Heist: The notorious hacking group, which is believed to be sponsored by the North Korean regime, is said to be behind a series of cryptocurrency thefts that have netted nearly £173 million since June 2023. The latest victim was CoinEx, a crypto exchange that lost £22 million in digital assets on September 12, 2023. The hackers used a sophisticated technique to bridge funds across different blockchains and evade detection3.
• NCSC Publishes Report on AI and Cybersecurity: The UK’s National Cyber Security Centre (NCSC) published a report that outlines the potential threats and opportunities of artificial intelligence (AI) for cybersecurity. The report argues that AI can be used for both good and evil purposes, such as enhancing security capabilities or enabling new attack vectors. The report also provides some recommendations and best practices for securing AI systems1.
• Wannabe Rapper Convicted of Laundering Billions of Dollars Worth of Bitcoin for Cybercriminals: Alexander Vinnik, also known as Mr. Bitcoin, operated a cryptocurrency exchange called BTC-e that facilitated transactions for ransomware operators, hackers, drug dealers, and other illicit actors. He was convicted of laundering billions of dollars worth of Bitcoin for cybercriminals and faces up to 55 years in prison4.

These are some of the UK cyber security news stories that caught our attention this week. Stay tuned for more updates and analysis on the ever-changing world of cybersecurity in the UK. And remember, stay safe and secure online.