Webtagr - Technology News Summarizer

North Korean Hackers Steal Millions from US Companies Using Fake Identities

2025-09-12

The Department of Justice announced coordinated actions against the North Korean government's schemes to fund its regime through remote IT work for US companies. This involved indictments, arrests, searches of numerous 'laptop farms' across multiple states, and the seizure of financial accounts and fraudulent websites. North Korean actors, aided by individuals in other countries, used stolen and fake identities to obtain employment with over 100 US companies, stealing sensitive information including military technology and cryptocurrency. One scheme alone resulted in over $900,000 in stolen virtual currency. The actions highlight the threat of North Korea using cyber operations to evade sanctions and fund its weapons programs.

(www.justice.gov)

Tech

Greystar, Largest US Landlord, Settles Antitrust Case Over Algorithmic Price-Fixing

2025-08-11

The US Department of Justice accused Greystar, the largest landlord in the US, of using RealPage's algorithm to collude with other landlords on rental pricing. The algorithm allegedly contained anti-competitive features that facilitated price coordination. Greystar shared sensitive data with competitors, violating antitrust laws. To settle the lawsuit, Greystar agreed to stop using the algorithm, refrain from sharing sensitive information, and potentially accept a court monitor. This case highlights the risks of algorithmic price-fixing and the importance of antitrust enforcement in the digital age.

(www.justice.gov)

Tech

Indian Chemical Firm Indicted in US Fentanyl Precursor Smuggling Case

2025-03-21

An Indian chemical manufacturing company, Vasudha Pharma Chem Limited (VPC), and three of its high-ranking executives were indicted in a US federal court for illegally importing precursor chemicals used to make fentanyl. The indictment alleges VPC advertised and sold these chemicals globally, including two sales of 25 kilograms of N-BOC-4P to an undercover agent. A larger, planned four-metric-ton transaction—two tons to Mexico and two to the US—was also detailed. If convicted, the individuals face up to 10 years in prison, and VPC faces substantial fines. Two executives were arrested in New York City.

(www.justice.gov)

Tech fentanyl

MoviePass Parent Company CEO Pleads Guilty to Securities Fraud

2025-01-08

Theodore Farnsworth, former CEO of Helios & Matheson Analytics Inc. (HMNY), the parent company of MoviePass, pleaded guilty to securities fraud. He admitted to a scheme to defraud investors in both HMNY and Vinco Ventures Inc. by misrepresenting MoviePass's "unlimited" subscription model as profitable and falsely claiming the use of AI technology to boost HMNY's stock price. This case, one of the Justice Department's first "AI washing" cases, highlights the risks of using AI claims to perpetrate fraud.

(www.justice.gov)

Startup securities fraud AI washing