The latest plot twist in the Elon Musk wants to buy Twitter saga is this report saying that Musk will take a massive axe to the company and get rid of 75% of the people who work there:
Musk told prospective investors in his deal to buy Twitter that he planned to get rid of nearly 75% of the company’s 7,500 workers, according to internal documents and interviews by The Washington Post.
Musk’s deal to buy Twitter for $44 billion is expected close by next Friday in good faith after a months-long legal battle with Twitter.
The Post found that even if Musk does not end up buying Twitter, massive layoffs would still be in the picture for the social media company.
Twitter’s current management reportedly planned to slash the company’s payroll by about $800 million by next year regardless of the deal, which the Post said would mean at least a quarter of Twitter’s workforce would have to depart.
On top of that, with all the turmoil and chaos that Musk creates wherever he goes, I am surprised that Twitter employees haven’t headed to the exits on masse as nobody wants to have this sort of chaos as something that they need to deal with on a daily basis. And for those who are still there and haven’t found employment elsewhere, this might be the last straw that sends them to the exits. It’s clearly not a good situation for Twitter and there are no winners here.



BlackByte Ransomware Now Included Data Theft Capabilities
Posted in Commentary with tags Security on October 21, 2022 by itnerdA BlackByte ransomware affiliate is using a new custom data stealing tool called to steal data from compromised Windows devices so that they can do double extortion attacks reports Bleeping Computer. This news comes months after the FBI released an advisory on the strain, following its use to breach three companies in the US’ critical infrastructure.
Kevin Bocek, VP of Security Strategy & Threat Intelligence at Venafi has this to say:
“Following attacks on US critical infrastructure, the FBI released an advisory on BlackByte ransomware in February. But clearly this has done little to deter threat actors. They’ve built on BlackByte’s success with this latest update, which now includes next-generation double extortion capabilities, including a direct upload of exfiltrated data to Mega cloud with hardcoded credentials. This should set alarm bells ringing for organizations. Double extortion tactics make it much harder to say no to ransomware demands because the safety net of ‘restore from backup’ is no longer there to fall back on.
“Our research shows that 83% of ransomware attacks now make use of double extortion tactics. Threat actors – who are essentially just developers gone bad – have worked hard to improve their product, and the cybersecurity industry should be responding in kind. Ransomware often evades detection because it runs without a trusted machine identity. So, organizations must be managing machine identities via a control plane to reduce the use of unsigned scripts, increase code signing and restrict the execution of malicious macros. This is vital to a well-rounded ransomware defense.”
As these ransomware gangs evolve their attacks, companies need to evolve their defences accordingly. Otherwise they’ll just become victims of these ransomware gangs.
Leave a comment »