An anonymous Slashdot reader shared this report from the New York Times: The collapse in cryptocurrency prices last year forced a procession of major firms into bankruptcy, triggering a government crackdown and erasing the savings of millions of inexperienced investors. But for a small group of corporate turnaround specialists, crypto's implosion has become a financial bonanza.

Lawyers, accountants, consultants, cryptocurrency analysts and other professionals have racked up more than $700 million in fees since last year from the bankruptcies of five major crypto firms, including the digital currency exchange FTX, according to a New York Times analysis of court records. That sum is likely to grow significantly as the cases unfold over the coming months. Large fees are common in corporate bankruptcies, which require complex and time-intensive legal work to untangle. But in the crypto world, the mounting fees have sparked widespread outrage because many of the people owed money are amateur traders who lost their personal savings, rather than corporations with the ability to weather a financial crisis. Every dollar in fees is deducted from the pool of funds that will be returned to creditors at the end of the bankruptcies.

The fees are "exorbitant and ridiculous," said Daniel Frishberg, a 19-year-old investor who lost about $3,000 when the crypto company Celsius Network filed for bankruptcy last year. "At every hearing, they have an army of people there, and most of them don't need to be there. You don't need 20 people taking notes."

Agence France-Presse reports that "Two years ago, El Salvador shrugged off a chorus of warnings and adopted Bitcoin as legal tender in a bid to revitalize its economy and improve access to financial services.

"It has not worked... Economist Cesar Villalona told AFP that Bitcoin 'does not exist in the local economy' in any significant way, because in El Salvador 'everything' is paid in dollars: wages, services and goods." Bitcoin has lost more than half its value since then and though President Nayib Bukele is wildly popular for his clampdown on criminal gangs, his currency gamble has not gone down equally well... [T]wo years after El Salvador became the first country in the world to adopt Bitcoin as its currency, alongside the U.S. dollar, "the goals that were pursued... have not been achieved, people hardly use it, they don't have much trust" in crypto, economist and former Reserve Bank governor Carlos Acevedo told AFP. "The experiment has not worked, it is a crypto winter," he said.

There are no figures available on how many Salvadorans have taken up Bitcoin. But a poll conducted in May by the Central American University found that 71 percent believed the cryptocurrency "has in no way helped to improve their family economic situation."

On the streets of San Salvador, the verdict is harsh. "I don't see that money working, it's just propaganda. Where's the benefit? There's no benefit. It's a bad investment," newspaper vendor Juan Antonio Salgado, 65, told AFP. "It's robbery," he added, in reference to the currency's volatility.
Even a video report from Al Jazeera opens by asking "So has the experiment succeeded? The general verdict — not yet, at least."

They report that even though one fifth of El Salvador's GDP comes from remittances, less than 2% of its remittances went through crypto currency and digital wallets so far this year. Building has yet to begin on "Bitcoin City" — and the country has yet to actually issue the "Volcano Bonds" that would fund its creation.

And meanwhile, the government's bitcoin purchases have now lost an estimated $45.4 million.

A United Nations report "says that overreliance on remote learning technology during the pandemic led to 'staggering' education inequality around the world," reports the New York Times. The 655-page report from the United Nations' education/culture agency UNESCO asks if we've just experienced a worldwide "ed-tech tragedy."

Long-time Slashdot reader theodp writes: Some of the main findings of the report include:

1. The promise of education technology was overstated
2. Remote online learning worsened education disparities
3. Learning was hindered and altered
4. Regulation and guardrails are needed.
Remember that the report covers countries around the world, with different levels of economic development. One section of the report is actually titled, "Most learners were left behind," citing estimates that "at least half of all students expected to access remote learning systems to continue their education were unable to do so due to technology gaps... In many parts of the world, accessing education via a technology portal was so uncommon and so unrealistic that many families did not even know that the option existed when schools closed." This should not have come as a particular surprise. The International Telecommunication Union (ITU), the specialized agency of the United Nations for ICT, estimated that approximately 3.7 billion people — roughly half of the world's population — lacked a functional internet connection in 2020... Countries around the world invested heavily in internet-connected solutions for education, even though these solutions commonly reached only a minority of students, resulting in a bifurcation of educational opportunity.
The report begins with a warning from the agency's assistant director-general for education. "Ultimately, we should heed this publication's recommendation to exercise greater humility and caution when considering the educational promise of the latest technological marvels."

An anonymous reader quotes a report from Bloomberg: Cryptocurrency trading volume declined in August to the lowest level of the year, another sign of waning investor interest since the collapse of digital asset prices from all-time highs in late 2021. The combined monthly volume of so-called spot and derivatives trading fell 11.5% to $2.09 trillion, and was the second-lowest monthly total since October 2020, according to data compiled by CCData. "The (spot) trading volumes on centralized exchanges have remained low since April this year and are now comparable to the stagnant trading activity in the bear market of 2019," CCData said in a report published Thursday.

The tepid interest appears to be carrying into September, with crypto bellwether Bitcoin little changed through much of the first week of the month. Bitcoin, which accounts for about half of crypto's $1 trillion market capitalization, was little changed at around $25,800 on Thursday. It almost reached $69,000 in November 2021. [...] While Binance remains the largest exchange for crypto spot trading, its market share shrank for the sixth straight month, settling at 38.5%, the lowest since August 2022, according to CCData.

Dennis Austin, the principal software developer of PowerPoint, passed away from lung cancer on Sept. 1. He was 76. The Washington Post reports: Released in 1987 by Forethought, a small software firm, PowerPoint was the digital successor to overhead projectors, transforming the labor-intensive process of creating slides -- a task typically assigned to design departments or outsourced -- to one where any employee with a computer could point, click and rearrange information with a mouse. "Our users were familiar with computers, but probably not graphics software," Mr. Austin wrote in an unpublished history of the software's development. "They were highly motivated to look their best in front of others, but they weren't savvy in graphics design."

Working alongside Robert Gaskins, the Forethought executive who conceived the software, it was Mr. Austin's job as the software engineer to make PowerPoint (originally called Presenter) easy to operate. He accomplished this with a "direct-manipulation interface," he wrote, meaning that "what you are editing looks exactly like the final product." Originally targeted for Macintosh computers, which had a graphical interface, Presenter included ways for users to incorporate graphics, clip art and multiple fonts. In addition, the slides could be uniform with graphic borders, corporate logos and slide numbers. The goal, Mr. Austin wrote, was "to create presentations -- not simply slides."

In his book "Sweating Bullets: Notes about Inventing PowerPoint" (2012), Gaskins wrote that "Dennis came up with at least half of the major design ideas," and was "completely responsible for the fluid performance and the polished finish of the implementation." "It's a good bet," Gaskins added, "that if Dennis had not been the person designing PowerPoint, no one would ever have heard of it."

Microsoft is teaming up with digital pathology provider Paige to build the world's largest image-based artificial intelligence model for identifying cancer. From a report: The AI model is training on an unprecedented amount of data that includes billions of images, according to a release. It can identify both common cancers and rare cancers that are notoriously difficult to diagnose, and researchers hope it will eventually help doctors who are struggling to contend with staffing shortages and growing caseloads. Paige develops digital and AI-powered solutions for pathologists, which are doctors who carry out lab tests on bodily fluids and tissues to make a diagnosis. It's a specialty that often operates behind the scenes, and it's crucial for determining a patient's path forward.

"You don't have cancer until the pathologist says so. That's the critical step in the whole medical edifice," Thomas Fuchs, co-founder and chief scientist at Paige, told CNBC in an interview. But despite pathologists' essential role in medicine, Fuchs said their workflow has not changed much in the last 150 years. To diagnose cancer, for instance, pathologists usually examine a piece of tissue on a glass slide under a microscope. The method is tried and true, but if pathologists miss something, it can have dire consequences for patients.

The days of signing on the dotted line may be numbered -- at least in Australia. From a report: The federal government has announced it is taking statutory declarations into the digital age, saying it will accept electronic signatures and video link witnessing from next year. It makes permanent a change introduced during the pandemic, when attending a justice of the peace (JP) for a statutory declaration -- a practice that goes back to the 19th century -- was forbidden under lockdown restrictions.

Legislation introduced this week by the federal attorney general, Mark Dreyfus, will also allow people to digitally execute a statutory declaration using the online platform myGov and the myGovID Digital ID. Dreyfus says the bill is intended to keep with the changing ways of Australians. "This bill will respond to how Australians want and expect to engage and communicate digitally with government by providing options to make commonwealth statutory declarations facilitated by technology," he says. "This bill is an important milestone in driving the digitisation of government services."

Researchers at digital watchdog group Citizen Lab say they found spyware they linked to Israeli firm NSO that exploited a newly discovered flaw in Apple devices. From a report: While inspecting the Apple device of an employee of a Washington-based civil society group last week, Citizen Lab said it found the flaw had been used to infect the device with NSO's Pegasus spyware, it said in a statement.

Bill Marczak, senior researcher at Citizen Lab, said the attacker likely made a mistake during the installation which is how Citizen Lab found the spyware. Citizen Lab said Apple confirmed to them that using the high security feature "Lockdown Mode" available on Apple devices blocks this particular attack. The flaw allowed compromise of iPhones running the latest version of iOS (16.6) without any interaction from the victim, the digital watchdog said. The new update fixes this vulnerability.

Ryan Salame, a top FTX executive who played a key role in the exchange's political fundraising operations, will forfeit $1.5 billion after pleading guilty on Thursday to federal criminal charges tied to the exchange. CoinDesk reports: Salame, who was co-CEO of FTX's Bahamas entity FTX Digital Markets, pleaded guilty to conspiracy to make unlawful contributions and defraud the Federal Election Commission and conspiracy to operate an unlicensed money transferring business. "I made political contributions in my name that were funded by transfers from an Alameda subsidiary," Salame told Judge Lewis Kaplan, who is also overseeing Bankman-Fried's trial, as he entered his guilty plea. The transfers were "categorized as loans," Salame said, but "it was understood that the would not be repaid." The donations, according to Salame, "were for the benefit of initiatives introduced by others but supported by Sam Bankman-Fried."

As part of his plea agreement with the government, Salame has been ordered to forfeit more than $1.5 billion dollars. He agreed to forfeit $6 million before his sentencing, expected in March of next year. To help cover this amount, Salame has already agreed to give the government a "2021 Porsche automobile" and multiple properties, including two Massachusetts homes and ownership of the East Rood Farm Corporation, an entity Salame owns. Additionally, Salame was ordered to pay more than $5.5 million in restitution to FTX debtors. According to a DOJ document (PDF), the $1.5 billion Salame will forfeit represents "property involved in" the unlicensed money transmitter charge.

An anonymous reader quotes a report from CNBC: Chinese state-aligned influence and disinformation campaigns are impersonating U.S. voters and targeting political candidates on multiple social media platforms with improved sophistication, Microsoft said in a threat analysis report Thursday. Chinese Communist Party-affiliated "covert influence operations have now begun to successfully engage with target audiences on social media to a greater extent than previously observed," according to the report, which focused on the rise in "digital threats from East Asia." The Microsoft report also cautioned that some Chinese influence campaigns are now using generative artificial intelligence to create visual content that's "already drawn higher levels of engagement from authentic" users, a trend the company said began around March.

Chinese influence campaigns have historically struggled to gain traction with intended targets, who in this case are U.S. voters and residents. But since the 2022 midterm elections, those efforts have become more effective, Microsoft warned. Microsoft found content from Chinese influence campaigns on multiple apps, including Meta's Facebook and Instagram, Microsoft-owned LinkedIn, and X. In August, Facebook parent Meta announced it had disrupted the largest ever identified disinformation campaign and linked it to China state-affiliated actors. Microsoft's report included screenshots of two different X posts in April that were identified as CCP-affiliated disinformation. Both were about the Black Lives Matter movement and had the same graphic. The first came from an automated CCP-affiliated account. The second, Microsoft said, was uploaded by an account impersonating a conservative U.S. voter seven hours later.

The U.S. Senate today approved a nominee to fill the vacant, fifth seat on the Federal Communications Commission (FCC). The Senate voted 55 to 43 to approve Anna Gomez as the fifth FCC Commissioner. Her term will be for five years from July 1, 2021, so effectively about three years. From a report: Gomez most recently has served as a senior advisor on communications policy at the Bureau of Cyberspace and Digital Policy. She was also deputy administrator at the National Telecommunications and Information Administration (NTIA) from 2009 to 2013. The NTIA is not only important as the advisor to the President on national spectrum policy, but the agency is also currently overseeing the Broadband Equity, Access and Deployment (BEAD) program.

Roku will cut more than 300 staffers -- laying off 10% of its workforce -- as the streaming-platform company continues its battle to control costs. From a report: In addition, Roku will remove certain licensed and owned content from its platform as part of a "strategic review of its content portfolio," resulting in an impairment charge of up to $65 million in the current quarter, the company disclosed in an SEC filing Wednesday. Other cost-cutting measures Roku outlined are consolidating office space and reducing outside services expenses.

The goal is to reduce year-over-year operating expense growth rate, the company said. The layoffs represent Roku's third round of job cuts in less than a year, after it pink-slipped 200 staffers in November 2022 and another 200 in March 2023. As of the end of 2022, Roku had approximately 3,600 full-time employees. The company, in addition to the layoffs, said it also plans to cut back on new hires.

As a growing number of hackers target companies, organisations and industries with debilitating attacks, more skilled cyber security workers are urgently needed to combat the threat.ÂFrom a report: ISC2, the world's largest association of cyber professionals, estimates that the cyber security workforce in 2022 stood at about 4.7mn people globally. But a further 3.4mn roles remain unfilled. "The gap is massive," says Clar Rosso, ISC2's chief executive. "This shortfall is felt more acutely in countries such as India where digitisation is rapid. But even in the US, only 69 per cent of cyber roles are filled, according to Cyberseek, a website that provides data about the cyber security job market."

Beyond a talent shortfall, existing workers are underskilled. A UK government report this year found that 50 per cent of UK businesses -- some 739,000 in total -- have a basic cyber skills gap, meaning that those in charge of cyber security lack the confidence to carry out the technical measures that protect against the most common digital attacks. Previously, it was thought that a company's IT team could take care of all cyber security concerns. But "over time, it became clear that this needed specialised attention," Rosso says, adding that, after some high-profile ransomware attacks over the past couple of years, "business executives are now paying attention."

Apple and Microsoft, the most valuable companies in the US, have argued some of their flagship services are insufficiently popular to be designated "gatekeepers" under landmark new EU legislation designed to curb the power of Big Tech. FT: Brussels' battle with Apple over its iMessage chat app and Microsoft's search engine Bing comes ahead of Wednesday's publication of the first list of services that will be regulated by the Digital Markets Act. The legislation imposes new responsibilities on the tech companies, including sharing data, linking to competitors and making their services interoperable with rival apps.

The London Stock Exchange Group has drawn up plans for a new digital markets business, saying this will make it the first major exchange to offer extensive trading of traditional financial assets on the blockchain technology best known for powering cryptocurrency. From a report: Murray Roos, head of capital's markets at the LSE Group, told the Financial Times that the company had been examining the potential for a blockchain-powered trading venue for about a year, and had reached an "inflection point" where it had decided to take the plans forward. It has asked Julia Hoggett, head of the London Stock Exchange, one unit in the broader group, to spearhead the project.

Roos stressed that his exchange was "definitely not building anything around cryptoassets" but was looking to use the technology that underpins popular tokens such as bitcoin to improve the efficiency of buying, selling and holding traditional assets. "The idea is to use digital technology to make a process that is slicker, smoother, cheaper and more transparent and to have it regulated," Roos said. He added that LSEG had waited to proceed until it was sure that the public blockchain technology was "good enough" and that investors were ready.

What caused Monday's glitch in the UK's air traffic control system that left thousands of passengers stranded?

Wednesday the Independent reported that it may have been triggered by "an incorrectly filed flight plan by a French airline." Several sources say the issue may have been caused when a French airline filed a dodgy flight plan that made no digital sense. Instead of the error being rejected, it prompted a shutdown of the entire National Air Traffic Services (Nats) system — raising questions over how one clerical error could cause such mayhem... Downing Street has launched an independent review into the incident, which caused more than a quarter of flights at UK airports to be cancelled on Monday...

In his statement, Nats chief executive Martin Rolfe said Nats' systems, both primary and the back-ups, responded to the incorrect flight data by suspending automatic processing "to ensure that no incorrect safety-related information could be presented to an air traffic controller or impact the rest of the air traffic system".
The article also points out that "Passengers hit by the air traffic control meltdown face being stranded abroad for up to a week." Around 300,000 airline passengers have now been hit by flight cancellations since the hours-long failure of the Nats system on bank holiday Monday. The knock-on effect is set to last for several more days, as under-pressure airlines battle the backlog in a week where millions are already returning to the UK from their summer holidays.
Thanks to Slashdot reader Bruce66423 for sharing the article.

The theft of IT equipment and data, as well as digital and industrial espionage and sabotage, will cost Germany 206 billion euros ($224 billion) in 2023, German digital association Bitkom said on Friday. From a report: The damage will surpass the 200 billion euro mark for the third consecutive year, according to a Bitkom survey of more than 1,000 companies. "The German economy is a highly attractive target for criminals and hostile states. The boundaries between organised crime and state-controlled actors are blurred," Bitkom President Ralf Wintergerst said. Around three quarters of the companies surveyed suffered digital attacks in the past 12 months, falling from 84% of the companies in the previous year.

An anonymous reader quotes a report from Ars Technica: The day before a Texas antiporn law that requires age verification to access adult websites was set to take effect, the state's attorney general, Angela Colmenero, has been at least temporarily blocked from enforcing the law. US District Judge David Alan Ezra granted a preliminary injunction temporarily blocking enforcement after the Free Speech Coalition (FSC) joined adult performers and sites like Pornhub in a lawsuit opposing the law. Today, they convinced Ezra that Texas' law violates the First Amendment and would have "a chilling effect on legally-protected speech," FSC said in a press release.

"This is a huge and important victory against the rising tide of censorship online," Alison Boden, FSC's executive director, said. "From the beginning, we have argued that the Texas law, and those like it, are both dangerous and unconstitutional. We're pleased that the court agreed with our view that [the law's] true purpose is not to protect young people, but to prevent Texans from enjoying First Amendment protected expression. The state's defense of the law was not based in science or technology, but ideology and politics." Now, Texas will have to wait until this lawsuit is litigated to enforce the law. [...] According to FSC, in addition to free speech concerns, the law needed to be blocked because it would have exposed consumers to "significant privacy risks" by forcing adult-website visitors to show digital IDs. A spokesperson for Pornhub's parent company Aylo told Ars: "We are pleased with the court's decision today, which reaffirms our position that the age verification law implemented in Texas is unconstitutional. We have publicly supported mandatory age verification of viewers of adult content for years, but any method of age verification must preserve user privacy and safety."

"The only solution that makes the Internet safer, preserves user privacy, and stands to prevent children from accessing age-inappropriate content is performing age verification at the device level," Aylo's spokesperson said. "We are pleased that the court recognizes the severity of compelled speech and its presence in this law that Texas has implemented. We are proud to fight for our industry and the performers that use it to legally earn a living, and we are glad to see the court recognize that this law is unconstitutional and would have required adult entertainers to falsely imply that their content poses health risks."

A similar age verification initiative in Australia was halted yesterday, citing concerns around privacy and security of the technology.

The organization that represents the literary works of Scientology founder L. Ron Hubbard has filed a petition with the Federal Government, asking it to make it illegal to circumvent software locks for the repair of a highly specific set of electronic devices, according to a letter reviewed by 404 Media. From the report: The letter doesn't refer to any single device, but experts say the petition covers Scientology's "E-Meter," a "religious artifact" and electronic that is core to Scientology. Author Services Inc., a group "representing the literary, theatrical, and musical works of L. Ron Hubbard," told the U.S. Copyright Office that it opposes the renewal of an exemption to Section 1201 of the Digital Millennium Copyright Act that makes it legal for consumers to hack their personal electronics for the purposes of repair.

This exemption to copyright law is needed because many electronics manufacturers put arbitrary software locks, Digital Rights Management systems, or other technological prevention measures that stop consumers from diagnosing or repairing devices unless they are authorized to do so. Special exemptions to copyright law make it legal for farmers to hack past John Deere's DRM to fix their tractors, consumers to use software tools to help them repair certain parts of game consoles, or use third-party software to circumvent repair locks on printers, air conditioners, laptops, etc.

A tiny island in the Caribbean is now sitting on a digital treasure. From a report: Anguilla, a tropical British territory, is known for its coral reefs and white sand beaches. Since the 1990s, however, it's also been in charge of assigning internet addresses that end in .ai to residents and businesses looking to register websites. It was one of hundreds of country-specific domain names and easy to overlook -- until recently. Stability.ai, Elon Musk's X.ai and Character.ai are just a few of the hot artificial intelligence startups that have snapped up the .ai domain assigned to the islands and cays that comprise Anguilla. Plenty of tech giants have their own web addresses ending in .ai as well: Google.ai and Facebook.ai route visitors to their company's AI-focused webpages and Microsoft.ai shows off the company's Azure AI services.

The total number of registrations of sites ending with these two letters has effectively doubled in the past year to 287,432, according to Vince Cate, who for decades has managed the .ai domain for Anguilla. Cate estimates Anguilla will bring in as much as $30 million in domain-registration fees for 2023. Once one of the many obscure top-level domains assigned to countries and territories, .ai websites experienced a slow but steady increase in demand in recent years. But the sudden spike in .ai domains nine months ago highlights the broader frenzy around artificial intelligence and its ripple effects throughout the global economy. Since ChatGPT launched, a growing number of tech companies have raced to raise billions in capital, scoop up engineering talent and secure powerful but increasingly scarce chips. A domain may sound less essential, but for an industry obsessed with clever branding, the right name can be everything. "Since November 30, things are very different here," Cate said, referring to the date when ChatGPT launched publicly.