Tech Giants Google and Apple Fined in Italy ?? Over Suspicious Data practices

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Tech Giants Google and Apple Fined in Italy ?? Over Suspicious Data practices

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Amid the rising number of data breaches and unethical use of data in the tech sector, government authorities globally are taking acting tough against the tech companies.

The latest country to take action in this regard is Italy. Italy’s competition and market authority fined Apple and Google €10 million after finding that neither of these companies provided their users with enough and adequate information about how their data is being used for commercial purposes.

This is a violation of the country’s consumer code. Thus, Italy’s competition & market authority accused the two leading companies of aggressive and ‘intransparent’ data practices to push users into accepting their commercial use of data.

El Salvador ?? Buys 100 BTC, Bringing its BTC Holdings to 1220

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El Salvador is on a Bitcoin buying spree and a drop in BTC prices was one more reason for its president Nayib Bukele to add more Bitcoins to the country’s holdings.

Recently, the Latin American country bought 100 Bitcoins. To buy 100 Bitcoins, Nayib Bukele, the Salvadoran president invested more than $5 million, as the prices dropped on Saturday.

After its recent purchase, EI Salvador now holds 1220 BTC, worth roughly $66.3 million after the Bitcoin prices were down to $54,000s.

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Announcing El Salvador’s purchase of 100 Bitcoins, President Nayib Bukele, tweeted: “El Salvador just bought the dip. 100 extra coins acquired with a discount.”

All Within 30 Seconds ⏰: Hackers are Installing Crypto Mining Software ?‍? After Breaking Into Google Cloud Account 

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In a threat analysis report for Cloud users, Google’s Cyber Security Action Team found that hackers are employing vulnerable and poorly configured accounts for Cryptocurrency mining.

Furthermore, upon scrutinizing the situation in more detail, the team found that of among the 50 compromised Google Cloud accounts, 86% were being used for crypto mining.

The team also confirmed after investigating that these Crypto-mining activities are carried out by serial hackers who were out to stage more attacks and hunt for vulnerable systems to infringe.

“Poor customer security practices” and “ vulnerable third party-systems” are said to be the loopholes facilitating these attacks.

Reports Indicate Tanzania ??Reportedly is Working on Digital Shilling, Country’s CBDC 

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According to the Bank of Tanzania, the Central Bank is already set and preparing for a digital shilling.

Inspired by the initiatives taken by neighboring countries, the Bank Of Tanzania is reportedly set to launch a central bank digital currency (CBDC).

The governor also stated that in order to execute the launch smoothly, Tanzania is planning to conduct extensive research into digital currencies, and also take measures to strengthen the central bank in terms of manpower and technological capacity.

Following a directive from November 2019, Cryptocurrencies are largely banned in the Bank of Tanzania. But reports also indicated that the crypto ban will be overturned soon.

Around the Web

Black Friday Sales Lackluster this Year: Amid the drop in the footfalls around the malls this Black Friday, the holiday shopping season has officially kicked in. This time, the season is breaking most of its previous patterns. There was a significantly lesser crowd at the shopping centers and deals were notably harder to come by on a Friday, according to experts.


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