Locke2005 shares a report from CNBC: Hackers stole several hundred million dollars’ worth of a lesser-known cryptocurrency from a major Japanese exchange Friday. Coincheck said that around 523 million of the exchange’s NEM coins were sent to another account around 3 a.m. local time (1 p.m. ET Thursday), according to a Google translate of a Japanese transcript of the Friday press conference from Logmi. The exchange has about 6 percent of yen-bitcoin trading, ranking fourth by market share on CryptoCompare. The stolen NEM coins were worth about 58 billion yen at the time of detection, or roughly $534.8 million, according to the exchange. Coincheck subsequently restricted withdrawals of all currencies, including yen, and trading of cryptocurrencies other than bitcoin. Locke2005 adds, “That, my friends, is the prime reason why speculating in cryptocurrency is a bad idea!” Read more of this story at Slashdot.
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$500 Million Worth of Cryptocurrency Stolen From Japanese Exchange
theweatherelectric writes: Hulu has joined the Alliance for Open Media, which is developing an open, royalty-free video format called AV1. AV1 is targeting better performance than H.265 and, unlike H.265, will be licensed under royalty-free terms for all use cases. The top three over-the-top SVOD services (Netflix, Amazon, and Hulu) are now all members of the alliance. In joining the alliance, Hulu hopes “to accelerate development and facilitate friction-free adoption of new media technologies that benefit the streaming media industry and [its] viewers.” Read more of this story at Slashdot. 
An anonymous reader writes: In another intraday jump of more than $200, bitcoin surged to a record Thursday on strong Asian demand overnight. Bitcoin jumped more than 10 percent to an all-time high of $2, 752.07, more than twice its April 30 price of $1, 347.96 according to CoinDesk. The digital currency last traded near $2, 726. At Thursday’s record, Bitcoin has now gained more than 45 percent since last Thursday and more than 180 percent for the year so far. “There is no question that we are in the middle of a price frenzy, ” said Brian Kelly of BKCM, in a note to clients Thursday. “There will be a correction and it could be severe, but it’s unclear if that correction will start from current prices of $2700 or from some place much higher.” Read more of this story at Slashdot. 
Zack Whittaker, writing for ZDNet: Cisco is warning that the software used in hundreds of its products are vulnerable to a “critical”-rated security flaw, which can be easily and remotely exploited with a simple command. The vulnerability can allow an attacker to remotely gain access and take over an affected device. More than 300 switches are affected by the vulnerability, Cisco said in an advisory. According to the advisory, the bug is found in the cluster management protocol code in Cisco’s IOS and IOS XE software, which the company installs on the routers and switches it sells. An attacker can exploit the vulnerability by sending a malformed protocol-specific Telnet command while establishing a connection to the affected device, because of a flaw in how the protocol fails to properly process some commands. Cisco said that there are “no workarounds” to address the vulnerability, but it said that disabling Telnet would “eliminate” some risks. Read more of this story at Slashdot. 
Intel CEO Brian Krzanich met with President Donald Trump on Wednesday, where the company announced it will invest $7 billion in a factory employing up to 3, 000 people. From a report: The factory will be in Chandler, Arizona, the company said, and over 10, 000 people in the Arizona area will support the factory. Krzanich confirmed to CNBC that the investment over the next three to four years would be to complete a previous plant, Fab 42, that was started and then left vacant. The 7-nanometer chips will be produced there will be “the most powerful computer chips on the planet, ” Krzanich said in the Oval Office with the Trump administration. Most Intel manufacturing happens in the U.S., Krzanich said. “America has a unique combination of talent, a vibrant business environment and access to global markets, which has enabled U.S. companies like Intel to foster economic growth and innovation, ” Krzanich said in a statement. “Our factories support jobs — high-wage, high-tech manufacturing jobs that are the economic engines of the states where they are located.”Farhad Manjoo, columnist at The New York Times, tweeted; “As far as I can tell the decision had nothing to do with Trump, but they decided to announce with Trump. Why? There was no federal subsidy or any other credit. So it’s just a marketing decision to give Trump credit.” Read more of this story at Slashdot.