King.com Has IPO In The Works

King.com Ltd, the British mobile gaming firm best known for its popular puzzle game ‘Candy Crush Saga’, has filed confidentially for an initial public offering (IPO) in the United States, a person familiar with the matter said on Sunday.

Online technology companies are rushing to the stock market on the backs of Twitter Inc’s announcement earlier this month that it plans to go public in the most eagerly anticipated IPO since last year’s flotation ofFacebook Inc.

Emerging growth companies such as King can use a secretive IPO registration process in the U.S. thanks to the Jumpstart Our BusinessStartups (JOBS) Act, which loosened a number of federal securities regulations in hopes of boosting capital raising and thereby increasing job growth.

King has hired Bank of America Merrill Lynch Corp, Credit Suisse Group AG and JPMorgan Chase & Co to lead the offering, said the person, confirming an earlier report by the Daily Telegraph and asking not to be identified because the information is confidential.

Representatives for King and the banks either declined to comment or did not respond to requests for comment.

King offers 150 games in 14 languages through mobile phones, Facebook and its website. It boasts more than 1 billion gameplays per day from its users.

The company’s games appeal to a growing trend for players to play puzzles with their friends in short bursts, especially as games are increasingly played on the move on phones or tablets to kill spare minutes.

Rival Zynga Inc went public two years ago in a high-profile IPO that raised $1 billion. Since then, Zynga has suffered from sagging morale during several quarters of worsening performance and repeated waves of layoffs.

Founded in 2003, King has been profitable since 2005 and has not had a funding round since September of that year, when it raised 34 million euros ($46.04 million) from investment firms Apax Partners and Index Ventures.

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Cyber Attacks Increasing In Middle East

Syria’s civil war and political strife in Egypt have given birth to new battlegrounds on the Web and driven a surge in cyber attacks in the Middle East, according to a leading Internet security company.

More than half of incidents in the Gulf this year were so-called “hacktivist” attacks – which account for only a quarter of cybercrime globally – as politically motivated programmers sabotaged opposing groups or institutions, executives from Intel Corp’s software security division McAfee said on Tuesday.

“It’s mostly bringing down websites and defacing them with political messages – there has been a huge increase in cyber attacks in the Middle East,” Christiaan Beek, McAfee director for incident response forensics in Europe, Middle East and Africa (EMEA), told Reuters.

He attributed the attacks to the conflict in Syria, political turmoil in Egypt and the activities of hacking collective Anonymous.

“It’s difficult for people to protest in the street in the Middle East and so defacing websites and denial of service (DOS) attacks are a way to protest instead,” said Beek.

DOS attacks flood an organization’s website causing it to crash, but usually do little lasting damage.

The Syrian Electronic Army (SEA), a hacking group loyal to the government of President Bashar al-Assad, defaced an Internet recruiting site for the U.S. Marine Corps on Monday and recently targeted the New York Times website and Twitter, as well other websites within the Middle East.

Beek described SEA as similar to Anonymous.

“There’s a group leading operations, with a support group of other people that can help,” said Beek.

McAfee opened a centre in Dubai on Monday to deal with the rising threat of Internet sabotage in the region, the most serious of which are attacks to extract proprietary information from companies or governments or those that cause lasting damage to critical infrastructure.

Cyber attacks are mostly focused on Saudi Arabia, the world’s largest oil exporter, Qatar, the top liquefied natural gas supplier, and Dubai, which is the region’s financial, commercial and aviation hub, said Gert-Jan Schenk, McAfee president for EMEA.

“It’s where the wealth and critical infrastructure is concentrated,” he said.

The “Shamoon” virus last year targeted Saudi Aramco, the world’s largest oil company, damaging about 30,000 computers in what may have been the most destructive attack against the private sector.

“Ten years ago, it was all about trying to infect as many people as possible,” added Schenk. “Today we see more and more attacks being focused on very small groups of people. Sometimes malware is developed for a specific department in a specific company.”

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Is The Tesla Hackable?

It’s the curse of the connected car once it’s linked to the Internet, it’s, well, on the Internet. In the case of the Tesla Model S, this means that mischievous hackers could, in theory, control some functions of the vehicle and even snoop without the owner’s knowledge.

Tesla offers Android and iPhone apps for Model S owners, which can be used to check the vehicle’s battery, track its location and status, and tweak several other settings, like climate control and the sunroof. It can also be used to unlock the doors on the Model S.

Dell senior engineer George Reese says the REST API used by Tesla to provide access for Android and iPhone apps has several fairly serious security flaws, which could offer a way in for unscrupulous hackers.

According to an article written by Reese for O’Reilly, Tesla appears to have broken from accepted best practice when designing the API for the Model S.

“It’s flawed in a way that makes no sense. Tesla ignored most conventions around API authentication and wrote their own. As much as I talk about the downsides to OAuth (a standard for authenticating consumers of REST APIs–Twitter uses it), this scenario is one that screams for its use,” he wrote.

However, Reese notes, this is merely a potential attack vector, not one that could be immediately exploited. That said, a compromised website particularly one designed to provide “value-added services” via the API to Tesla drivers could prove highly damaging.

“I can … honk their horns, flash their lights, and open and close the sunroof. While none of this is catastrophic, it can certainly be surprising and distracting while someone is driving,” Reese wrote.

Automotive hacking has been posited by experts for some time, and several presentations at this year’s Defcon detailed fairly comprehensive methods of compromising some models.

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Is The FBI Snooping TOR?

The Federal Bureau of Investigation (FBI) has been accused of gathering data from the anonymous network known as TOR.

The FBI might be behind a security assault on the TOR network that grabs users’ information.

Security researcher Vlad Tsyrklevich said that the attack is a strange one and is most likely the work of the authorities.

“[It] doesn’t download a backdoor or execute any other commands, this is definitely law enforcement,” he said in a tweet about the discovery.

He went a bit further in a blog post, explaining that the Firefox vulnerability is being used to send data in one direction.

“Briefly, this payload connects to 65.222.202.54:80 and sends it an HTTP request that includes the host name (via gethostname()) and the MAC address of the local host (via calling SendARP on gethostbyname()->h_addr_list). After that it cleans up the state and appears to deliberately crash,” he added.

“Because this payload does not download or execute any secondary backdoor or commands it’s very likely that this is being operated by an LEA and not by blackhats.”

The bug is listed at Mozilla, and the firm has a blog post saying that it is looking into it.

Over the weekend a blog post appeared on the TOR website that sought to distant it from a number of closed down properties or hidden websites. It is thought that the shuttered websites, which were hosted by an outfit called Freedom Hosting, were home to the worst kind of abuses.

A report at the Irish Examiner said that a chap called Eric Eoin Marques is the subject of a US extradition request. He is accused of being in charge of Freedom Hosting.

“Around midnight on August 4th we were notified by a few people that a large number of hidden service addresses have disappeared from the TOR Network,” the TOR project said.

“There are a variety of [rumors] about a hosting company for hidden services: that it is suddenly offline, has been breached, or attackers have placed a javascript exploit on their web site,” it said.

“The person, or persons, who run Freedom Hosting are in no way affiliated or connected to The TOR Project, Inc., the organization coordinating the development of the TOR software and research.”

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Yahoo Still Playing Pac-Man

Yahoo announced on Wednesday that it bought Qwiki for an undisclosed sum, as the firm’s spending spree continues.

Qwiki started out as a video focused search engine in 2011, before making its way into the iTunes Store as an app that turns images and videos into digital story boards.

Yahoo announced its acquisition of Qwiki on Wednesday, although it kept quiet about what it plans to do with the company and how much it spent. However, according to Allthingsd, Yahoo spent approximately $50m to further expand its digital offerings.

What’s more, while it’s unclear what Yahoo’s plans are at present, it’s likely that the firm is looking to challenge Vine and Instagram in the social video market.

Yahoo announced the news, naturally, on Tumblr. It said, “We’re excited to announce that Yahoo acquired Qwiki – a company that uses awesome technology to bring together pictures, music and video to capture the art of storytelling.

“We will continue to support the Qwiki app, and the team will join Yahoo in our New York city office to reimagine Yahoo’s storytelling experience. Stay tuned … there’s much more to come!”

Qwiki also had something to say, posting on its website, “Thank you for being a part of our story – one which is far from over. The Qwiki app will live on as a standalone entity inside Yahoo, where we will grow our thriving community and where our team will continue to work to help you share life’s best experiences.

“We are proud of the work we’ve done, and humbled by unwavering support from the NY tech community. New York is such a big part of who we are, and what we will become.”

Yahoo’s buyout of Qwiki is the latest in a series of acquisitions by the firm. Recently the firm announced that it bought Tumblr for a cool $1.1bn, with Yahoo CEO Marissa Mayer promising “not to screw it up”.

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Are CCTV Cameras Hackable?

When the nosy British bought CCTV cameras, worried citizens were told that they could not be hacked.

Now a US security expert says he has identified ways to remotely attack high-end surveillance cameras used by industrial plants, prisons, banks and the military. Craig Heffner, said he discovered the previously unreported bugs in digital video surveillance equipment from firms including Cisco, D-Link and TRENDnet.

They could use it as a pivot point, an initial foothold, to get into the network and start attacking internal systems. Heffner said that it was a significant threat as somebody could potentially access a camera and view it. Or they could also use it as a pivot point, an initial foothold, to get into the network and start attacking internal systems.

He will show how to exploit these bugs at the Black Hat hacking conference, which starts on July 31 in Las Vegas. Heffner said he has discovered hundreds of thousands of surveillance cameras that can be accessed via the public internet.

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Office 365 Goes Yammer

Microsoft has taken the first step in its integration roadmap for SharePoint and Yammer, allowing Office 365 customers to swap SharePoint Online’s activity stream with Yammer’s.

This first, modest integration point will let SharePoint Online users click on the Yammer link and launch a separate browser window where they’re asked to sign in.

Later this year, Microsoft will deepen the integration with a single sign-on and the addition of Yammer to the main Office 365 interface, which will begin to merge the two products’ user experience.

Next month, Microsoft will release a Yammer application for SharePoint that will let users embed a Yammer group feed into a SharePoint site. The application will work both with SharePoint Online and with the on-premises version of the server SharePoint 2013.

Also in July, Microsoft will provide instructions for replacing the SharePoint 2013 newsfeed with Yammer’s.

For now, the first integration step in optional, but Microsoft is strongly suggesting that Office 365 customers make the activity stream switch to Yammer.

“Our recommendation is to use Yammer, since it’s our big bet for enterprise social, and we’re committed to making it the underlying social layer for all our products,” wrote Christophe Fiessinger, a Microsoft Office Division product marketing manager, in a blog post.

Customers should also accompany the technical change with an outreach effort to promote the benefits of using the enterprise social networking features of Yammer, according to Fiessinger.

“To drive adoption and really get the value out of Yammer, you need a strategy, advocates, and openness to the way it will transform the way people in your organization work and communicate,” he wrote.

Microsoft bought Yammer for $1.2 billion in mid-2012 in order to boost the development and availability of enterprise social collaboration features in SharePoint and in other Office and Microsoft business software like the Dynamics applications.

Microsoft makes a convincing case for the benefits of integrating Yammer with SharePoint and its other software to provide a common social collaboration layer, but the process is clearly complicated and will take years.

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McAffee See Sure In Spam

The first three months of 2013 have seen a surge in spam volume, as well as a growing number of samples of the Koobface social networking worm and master boot record (MBR) infecting malware, according to antivirus vendor McAfee.

After remaining relatively stable throughout 2012, spam levels rose during the first quarter of 2013, reaching the highest volume seen in the past two years, McAfee said in a report released Monday.

The amount of spam originating from some countries rose dramatically, McAfee said. Spam from Belarus increased by 540% while spam originating in Kazakhstan grew 150%.

Cutwail, also known as Pushdo, was the most prevalent spam-sending botnet during the first quarter, McAfee said.

The increased Pushdo activity has recently been observed by other security companies as well. Last month, researchers from security firm Damballa found a new variant of the Pushdo malware that’s more resilient to coordinated takedown efforts.

On the malware front, McAfee has also seen a surge in the number of Koobface samples, which reached previously unseen levels during the first quarter of 2013. First discovered in 2008, Koobface is a worm that spreads via social networking sites, especially through Facebook, by hijacking user accounts.

The number of malware samples designed to infect a computer’s master boot record (MBR) also reached a record high during the first three months of 2013, after increasing during the last quarter of 2012 as well, McAfee said.

The MBR is a special section on a hard disk drive that contains information about its partitions and is used during the system startup operation. “Compromising the MBR offers an attacker a wide variety of control, persistence, and deep penetration,” the McAfee researchers said in the report.

The MBR attacks seen during the first quarter involved malware like StealthMBR, also known as Mebroot; Tidserv, also known as Alureon, TDSS and TDL; Cidox and Shamoon, they said.

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Twitter’s Authentication Has Vulnerabilities

Twitter’s SMS-based, two-factor authentication feature could be abused to lock users who have not enabled it for their accounts if attackers gain access to their log-in credentials, according to researchers from Finnish antivirus vendor F-Secure.

Twitter introduced two-factor authentication last week as an optional security feature in order to make it harder for attackers to hijack users’ accounts even if they manage to steal their usernames and passwords. If enabled, the feature introduces a second authentication factor in the form of secret codes sent via SMS.

According to Sean Sullivan, a security advisor at F-Secure, attackers could actually abuse this feature in order to prolong their unauthorized access to those accounts that don’t have two-factor authentication enabled. The researcher first described the issue Friday in a blog post.

An attacker who steals someone’s log-in credentials, via phishing or some other method, could associate a prepaid phone number with that person’s account and then turn on two-factor authentication, Sullivan said Monday. If that happens, the real owner won’t be able to recover the account by simply performing a password reset, and will have to contact Twitter support, he said.

This is possible because Twitter doesn’t use any additional method to verify that whoever has access to an account via Twitter’s website is also authorized to enable two-factor authentication.

When the two-factor authentication option called “Account Security” is first enabled on the account settings page, the site asks users if they successfully received a test message sent to their phone. Users can simply click “yes,” even if they didn’t receive the message, Sullivan said.

Instead, Twitter should send a confirmation link to the email address associated with the account for the account owner to click in order to confirm that two-factor authentication should be enabled, Sullivan said.

As it is, the researcher is concerned that this feature could be abused by determined attackers like the Syrian Electronic Army, a hacker group that recently hijacked the Twitter accounts of several news organizations, in order to prolong their unauthorized access to compromised accounts.

Some security researchers already expressed their belief that Twitter’s two-factor authentication feature in its current implementation is impractical for news organizations and companies with geographically dispersed social media teams, where different employees have access to the same Twitter account and cannot share a single phone number for authentication.

Twitter did not immediately respond to a request for comment regarding the issue described by Sullivan.

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Is Yahoo Really Back?

Yahoo has once again made the list as one of the world’s 100 most valuable brands.

The Internet company nabbed the 92nd spot in the annual list of global companies from multiple industries including technology, retail and service, released Tuesday by BrandZ, a brand equity database. The ranking gave Yahoo a “brand value” of US$9.83 billion, which is based on the opinions of current and potential users as well as actual financial data.

Apple occupied the number-one position on the list, with a brand value of $185 billion. Google was number two, with a value of roughly $114 billion.

The BrandZ ranking, commissioned by the advertising and marketing services group WPP, incorporates interviews with more than 2 million consumers globally about thousands of brands along with financial performance analysis to compile the list. Yahoo last appeared on the list in 2009 at number 81.

Yahoo’s inclusion on the 2013 list comes as the Internet company works to reinvent itself and win back users. Previously a formidable player in Silicon Valley, the company has struggled in recent years to compete against the likes of Google, Facebook and Twitter.

Improving its product offerings on mobile has been a focus. New mobile apps for email and weather have been unveiled, along with a new version of the main Yahoo app, featuring news summaries generated with technology the company acquired when it bought Summly.

Most notably, Monday the company announced it is acquiring the blogging site Tumblr for $1.1 billion in cash. Big changes to its Flickr photo sharing service were also announced.

Yahoo’s rebuilding efforts have picked up steam only during the last several months, but the 2013 BrandZ study was completed by March 1.

However, last July’s appointment of Marissa Mayer as CEO likely played a significant role in the company’s inclusion in the ranking, said Altimeter analyst Charlene Li. “Consumer perception has gone up since then,” she said.

“Yahoo’s leadership has a strong sense of what they want to do with the brand,” she added.

Yahoo’s 2012 total revenue was flat at $4.99 billion. However, after subtracting advertising fees and commissions paid to partners, net revenue was up 2 percent year-on-year.

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