It’s time for Bits & Bytes…

… where we bring you news, innovations, and thought-provoking insights from AI, IT, and beyond. In this week’s newsletter we’re looking at:

Lingo Telecom fined $1 million for allowing deepfake Biden robocalls
From chicken sandwiches to film
Apple’s latest glitch

IN THE SPOTLIGHT

🗞️ The New Get-Rich-Quick Scheme

Ransomware gangs are living the dream in 2024, pocketing $459.8 million in just the first half of the year. Despite law enforcement’s best efforts to crack down on these digital desperados, it looks like 2024 is on track to smash last year’s record-breaking $1.1 billion in ransom payments.

The cybercriminals have upped their game, going after the big fish with increasing demands. Case in point: the Dark Angels ransomware group just scored the largest ransom ever recorded— $75 million from a Fortune 50 company. Yes, you read that right. Seventy-five million dollars for what essentially amounts to a very expensive “undo” fee.

These criminals have clearly figured out that it’s better to target fewer, larger organizations and squeeze them for all they’re worth, rather than nickel-and-diming smaller targets. And it’s working like a charm. The median ransom payment has shot up from a mere $199,000 in early 2023 to a staggering $1.5 million by mid-2024. Inflation? Nope, just a sign that the stakes are higher than ever in the world of digital extortion.

TL;DR

Ransomware payments hit $459.8 million in the first half of 2024.
The highest ransom ever, $75 million, was paid.
Median ransom payments have soared to $1.5 million.

TECH HEADLINES FROM ACROSS THE WEB

💰️ Lingo Telecom’s $1 Million Lesson

Lingo Telecom found out the hard way that allowing deepfake robocalls isn’t just bad for business—it’s expensive. The FCC slapped the Texas-based company with a $1 million fine for letting AI-generated calls that impersonated President Biden slip through its network. The takeaway? If you don’t know who’s using your service, the FCC will make sure you pay for it.

📺 Fast Food Meets Streaming

Chick-fil-A is about to turn the streaming world on its head by apparently launching a new platform filled with original, feel-good programming. The fast-food giant is teaming up with production companies to create shows that cater to families, with bigger ambitions on the horizon. It may sound odd, but with their entertainment industry connections, Chick-fil-A’s move into streaming might just be the next big thing—or at least a very interesting experiment.

⌨️️️ Four Characters Crash Your iPhone

A quirky new bug in iOS and iPadOS is crashing iPhones with just four characters, but don’t worry, it’s more of a party trick than a serious threat. Typing “”:: in certain search bars causes apps to crash and even triggers a soft reboot in some cases, sending users back to the lock screen. It’s the latest in a line of harmless but entertaining glitches, perfect for pranking your friends without doing any real damage.

TECH FOR GOOD

Alphabet’s X division has spun out another moonshot project, and this time it’s diving into the deep end of sustainable food production. Tidal, the latest venture from the “moonshot factory,” is bringing cutting-edge AI and computer vision to salmon farms, aiming to revolutionize the industry. By deploying sensors and AI-driven systems, Tidal helps farmers monitor their fish more effectively, catching issues like sea lice before they escalate, and optimizing feed to reduce environmental impact. Already making waves in Australia, Chile, and Norway, Tidal is poised to make a big splash in sustainable aquaculture, helping to feed the world more responsibly.

Interested in contributing a story to next week’s tech newsletter? Hit us up and let’s collab 💥

The post This Week in Tech: Rise of Ransomware, Chick-Fil-A Streams, and Robocall Legal Troubles 👾 appeared first on ChannelBytes.