Ramesh has seven years of experience writing and editing stories on finance, enterprise and consumer technology, and diversity and inclusion. She has previously worked at formerly News Corp-owned TechCircle, business daily The Economic Times and The New Indian Express.
This week, Delta Prime and Ethena were hacked, Lazarus' funds were frozen, the SEC settled with Prager Metis and Rari Capital, Sam Bankman-Fried sought a new trial, the SEC accused NanoBit and CoinW6 of scams, the CTFC sought to fight pig butchering, and Wormhole integrated World ID and Solana.
If the bubble isn't popping already, it'll pop soon, say many investors and close observers of the AI industry. If past bubbles are a benchmark, the burst will filter out companies with no solid business models and pave the way for more sustainable growth for the industry in the long term.
California enacted regulation to crack down on the misuse of artificial intelligence as Gov. Gavin Newsom on Tuesday signed five bills focused on curbing the impact of deepfakes. The Golden State has been on the national forefront of tech regulation.
This week, Indodax was hacked, Angel Drainer resurfaced, Russia developed Infra crypto, GS Partners settled with U.S. states, Caroline Ellison to be sentenced Sept. 24, FCA prosecuted first unregistered crypto case, Nigeria set new crypto regulations, and India may approve offshore crypto firms.
The U.S. federal government is preparing to collect reports from foundational artificial intelligence model developers, including details about their cybersecurity defenses and red-teaming efforts. The Department of Commerce said it wants thoughts on how data should be safety collected and stored.
The underground market for illicit large language models is a lucrative one, said academic researchers who called for better safeguards against artificial intelligence misuse. "This laissez-faire approach essentially provides a fertile ground for miscreants to misuse the LLMs."
A three-month-old startup promising safe artificial intelligence raised $1 billion in an all-cash deal in a seed funding round. Co-founded by former OpenAI Chief Scientist Ilya Sutskever, Safe Superintelligence will reportedly use the funds to acquire computing power.
This week, pig-butchering scams and bitcoin ATM scams increased, an update in the FTX case, stolen WazirX funds were laundered, settlements in the SEC-Galois and CFTC-Uniswap cases, Scotland seized crypto in a robbery, North Korea targeted Web3 staff, and the Mt. Gox CEO launched a new crypto firm.
While the criminals may have an advantage in the AI race, banks and other financial services firms are responding with heightened awareness and vigilance, and a growing number of organizations are exploring AI tools to improve fraud detection and response to AI-driven scams.
AI companies OpenAI and Anthropic made a deal with a U.S. federal body to provide early access to major models for safety evaluations. The agreements are "are an important milestone as we work to help responsibly steward the future of AI," said U.S. AI Safety Institute Director Elizabeth Kelly.
California state lawmakers on Wednesday handed off a bill establishing first-in-the-nation safety standards for advanced artificial intelligence models to their Senate counterparts after weathering opposition from the tech industry and high-profile Democratic politicians.
This week, the SEC sent OpenSea a Wells notice, WazirX sought protection from creditors, Ryan Salame reconsidered his guilty plea, objections to the FTX bankruptcy reorganization plan were filed, U.S. police recovered pig-butchering scam funds, and Colombia accused Worldcoin of privacy violations.
U.S. law enforcement is cracking down on users who use artificial intelligence to generate child sexual abuse material, stating there is no difference between material made by a computer and material from real life. "Put simply, CSAM generated by AI is still CSAM," said a U.S. attorney.
Hackers stole the data of more 700,000 current and former customers and employees of Patelco Credit Union in a monthlong ransomware attack detected in June, the California financial institution said. The breach didn't equally affect all 726,000 individuals victimized by the attack.
Chat app Slack patched a vulnerability in its artificial intelligence tool set that hackers could have exploited to manipulate an underlying large language model to phish employees and steal sensitive data. Slack said it was a low-severity bug.
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