Hillicon Valley — FBI forms crypto unit
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The Department of Justice named its first director of a new cryptocurrency enforcement team and announced that the FBI will also have a new team dedicated to virtual assets.
Meanwhile, 400,000 Tesla vehicles are under investigation, and hundreds of beta testers are using former President Trump’s new social media platform.
Let’s jump into the news.
Feds take on crypto crime
The FBI is forming a new team dedicated to cryptocurrency, according to the Department of Justice (DOJ).
The new team will work closely with the National Cryptocurrency Enforcement Team, the DOJ announced Thursday.
Prosecutor Eun Young Choi, who has a background in cyber-related crimes, will serve as the National Cryptocurrency Enforcement Team’s first director.
“The department has been at the forefront of investigating and prosecuting crimes involving digital currencies since their inception,” Choi said in a statement.
“The NCET will play a pivotal role in ensuring that as the technology surrounding digital assets grows and evolves, the department in turn accelerates and expands its efforts to combat their illicit abuse by criminals of all kinds. I am excited to lead the NCET’s incredible and talented team of attorneys, and to get to work on this important priority for the department.”
Teslas investigated over brakes
The National Highway Traffic Safety Administration (NHTSA) is investigating 416,000 Tesla vehicles following reports of some cars suddenly braking on their own, in what is being called “phantom braking.”
The agency received 354 complaints concerning braking issues with the 2021-2022 Tesla Model 3 and Model Y vehicles over the past nine months, and will be conducting a preliminary investigation into the cars, NHTSA said in a filing document on Wednesday
Tesla owners have complained about what is being dubbed “phantom braking,” a rapidly deceleration when cruising at highway speeds. NHTSA said the issue relates to the autopilot features, which allows for automatic braking and steering within lanes.
TESTING OUT ‘TRUTH SOCIAL’
Around 500 beta testers have already begun using former President Trump’s new social media network ahead of its scheduled launch, according to a report from Reuters.
Trump announced the development of his social media network called Truth Social in October. The platform is expected to fully launch some time in March.
Liz Willis, correspondent and vice president of operations at Right Side Broadcasting Network, told the newswire that she had received an email on Tuesday saying, “T Media Tech LLC has invited you to test Truth Social.”
According to Willis, she was able to download the app and users have been posting on the platform for the past 24 hours.
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FORD, VOLVO TO REVATIALIZE OLD EV BATTERIES
Ford Motor Company and Volvo Cars are collaborating with an e-waste startup to launch a first-of-its-kind electric vehicle (EV) battery recycling program in California, the companies announced Thursday.
The companies will work to create “efficient, safe and effective recovery pathways for end-of-life hybrid and electric vehicle battery packs,” stated a news release from the startup, Redwood Materials.
While Ford and Volvo are the first carmakers to offer their support to the program, the operation will accept all lithium-ion and nickel metal hydride batteries in California, the partners added.
“We are excited to be strengthening our partnership with Redwood Materials in identifying solutions for electric vehicle batteries that have reached the end of their useful lives,” Ford president and CEO Jim Farley said in a statement Thursday.
BITS AND PIECES
An op-ed to chew on: German court case could have huge repercussions for anyone who uses the internet
Lighter click: a modern classic
Notable links from around the web:
Google Has Made Millions Advertising Phony Government Handouts (HuffPost / Jesselyn Cook)
Spotify Bet Big on Joe Rogan. It Got More Than It Counted On. (The New York Times / Katherine Rosman, Ben Sisario, Mike Isaac and Adam Satariano)
Amazon Co-owns Deportation Airline Implicated In Alleged Torture Of Immigrants (The Intercept / Sam Biddle)
One last thing: Cyberattack blamed on Russia
Ukrainian officials blamed Russia for the Tuesday cyberattack that hit the country’s defense ministry and at least two banks.
Russia has denied involvement in what Ukraine called the largest cyberattack it has ever experienced, Reuters reported.
In a Wednesday news conference, Deputy Prime Minister Mykhailo Fedorov called the attack “unprecedented” and said the IP addresses involved in the attacks were from China, Russia, Uzbekistan and the Czech Republic.
“The key goal of this attack is destabilization, it is to sow panic, to do everything so that a certain chaos appears in our country,” Fedorov said, according to the news wire. “And today we know that the only country that is interested in such … attacks on our state, especially against the backdrop of massive panic about a possible military invasion, the only country that is interested is the Russian Federation.”
That’s it for today, thanks for reading. Check out The Hill’s technology and cybersecurity pages for the latest news and coverage. We’ll see you Friday.
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