Terra isn’t dead: the network is back up and running on a new blockchain, focusing on a more decentralized governance model. The community is making no attempts to revive its recently failed TerraUSD (UST) stablecoin. It has, however, re-launched a new version of the LUNA governance token, restarting its supply at 1,000,000,000 tokens. Here are the facts on the new blockchain, why it was launched, and the new token’s airdrop/ distribution. Background on Terra 2.0 Terra 2.0 (now known formally…
According to a new revelation by the New York Times, some FBI staff allegedly gained access to data owned by a crypto hacker. The FBI gained access to the sensitive data with the help of a glitch in the AI company Palantir. The company has ties with big government agencies like the CIA and the US Immigration Agency( ICE).
Crypto Hacker Faces Charges
The suspected hacker in question is none other than Virgil Griffith. He allegedly aided the North Korean government with comprehensive information regarding cryptos and blockchain.
Such information could help the East Asian nation evade tough economic sanctions that the USA may impose. The United States prevent it from accessing dollars, which limits the nation’s ability to launder money. Virgil Griffith is a research scientist and a well-known Ethereum developer. In the past, he was arrested and charged back in 2019 regarding the same issue.
How the FBI Staff Gained Access
The allegations hail from social media data obtained by the FBI through a federal search warrant in March of 2020. Palantir somewhat uploaded the accused’s Facebook and Twitter data by default. The FBI staffers possibly accessed the data from Palantir without authorization.
Between May 2020 and August 2021, the FBI has supposedly accessed the information at least four times. It happened three times via analysts, with the fourth being direct access by a federal agent.
Denials and Finger Pointing
In an interesting twist of events, there has been nothing but denials from the responsible parties. The FBI agent following Griffith received an alert on the issue from a colleague. The agent and analysts that gained access to the information deny using it in their investigations.
Palantir, on the other hand, denies any presence of a glitch. The firm has been trying hard to distance itself from the issue via the New York Times post statements. It claims the customer failed to follow “rigorous protocols established to protect search warrant returns.”
Keen to protect the current strong growth, Palantir has no intention of letting a huge PR catastrophe plague it. It has been enjoying impressive revenue expansions since going public.
The firm has gone large-scale in terms of its customer base. It has even clinched deals with space firms to manage a meta-constellation of satellites. The business has been booming for the company.
Even then, operational losses have been on the increase. A flaw in its software going viral is a problem that the firm wouldn’t want on its hands.