Thursday☕️

Time Is Money

May 23, 2024 • 4 min read

Trending:

OmniVision Data Breach
Humane AI Seeks Acquisition

Markets:

Yesterday’s U.S. stock market:

Yesterday’s commodity market:

Yesterday’s crypto market:

OmniVision Data Breach:

OmniVision Technologies, a semiconductor manufacturer based in Santa Clara, California, has reported a data breach resulting from a ransomware attack in September 2023. The breach was identified on September 30, 2023, when the company discovered malware encryption on certain systems. OmniVision responded by initiating a thorough investigation with external cybersecurity experts and notifying law enforcement agencies. They also took immediate steps to eject the unauthorized party and secure their systems.
The company completed its investigation by April 3, 2024, which revealed that from September 4 to September 30, attackers had accessed and extracted personal data from OmniVision's systems. The Cactus ransomware group, known for its stealthy malware encryption techniques, later claimed responsibility for this breach. In October 2023, Cactus announced the breach on its leak site and subsequently released approximately 3.5 terabytes of stolen data in December, including sensitive documents such as non-disclosure agreements and passport scans, indicating a likely unsuccessful extortion effort.
Although the specific details of the compromised personal information were not disclosed in the notification to affected individuals, OmniVision has offered free credit monitoring and identity restoration services for two years to those impacted. The extent of the data breach regarding the number of affected individuals remains unclear. OmniVision is recognized for its production of semiconductors that find applications in various fields, including medical, security, and consumer electronics. The Cactus ransomware gang, which has been active for about a year and also targeted Schneider Electric earlier in the year, continues to pose a significant threat in the cybersecurity landscape.

Humane AI Seeks Acquisition:

The AI wearable startup Humane, initiated by former Apple employees Imran Chaudhri and Bethany Bongiorno in 2018, appears to be in turmoil just a month after launching its first product, the Humane AI Pin. Despite raising $230 million from prominent investors like OpenAI CEO Sam Altman, the company is reportedly seeking a sale with a target price of $750 million to $1 billion, according to Bloomberg.
The Humane AI Pin, aimed to replace smartphones, has failed to impress and is described as a disaster in its debut. The AI Pin, a voice-controlled wearable device with a clip-on camera but no traditional display, was pitched as a smartphone alternative but lacked basic functionalities like a display screen or app support. Instead, it featured a 720p laser projection system that displayed a UI on the user’s hand, a concept that drew skepticism for its practicality compared to existing smartwatch technologies.
Priced at $700 plus a monthly $24 subscription, the product was significantly more expensive than alternatives like the Apple Watch Series 9, which offers more features for less. Reviewers universally criticized the AI Pin for its impractical design, including its magnetic dual-halves that poorly clung to fabric, limited battery life, and poor performance in non-ideal lighting conditions. With its debut falling flat and the founders reportedly looking to exit, Humane's future is uncertain, and its initial product is already being compared to some of the biggest tech startup failures.

Statistic: