ICANN hit by phishing, Sony and Tencent sign partnership, Instagram worth $35 Billion

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ICANN gets hit by phishing attack

1280px-ICANN.svg

In an ironic twist of events, Hackers have managed to disrupt the Internet Corporation for Assigned Names and Numbers (ICANN) via spoof emails that capture login and password details for the network.

The ICANN is responsible for overseeing the addressing system of the internet and Internet DNS, IP addresses and autonomous system numbers.

The attackers used a booby trapped email which was sent to all employees which when opened, stole lists of contact and login information for people who control some of the net’s most popular domains. As a result ICANN informed relevant personnel that their data was compromised and notified them to change their passwords immediately.

Even though the attack occurred in late November, it wasn’t realized till around a week later by which time they found out that the attackers had managed to infiltrate a Centralized Zone Data System or CZDS which essentially lists who’s in charge of mainaining generic, top level domains such as .com, .info, .net and .org along with plethora of other more recently established domains.

Icann said it was not possible to alter any details of who administers these domains from its CZDS system. Passwords were stored in a hard to crack format, said Icann, and added it had deactivated passwords so those with legitimate access to CZDS would have to generate a new one.

Seems appropriate to quote Juvenal and say “Quis custodiet ipsos custodes?” (Who will guard the guards?)

Sony Music and Tencent sign partnershipTencent-Holdings-logo

 

Tencent, creator of WeChat and one of China’s largest internet companies, just signed  a deal similar to the one made with Warner Music group, with Sony Music Entertainment to distribute their catalog via online methods and internet messaging software QQ

Prior to that, Tencent also signed a distribution deal with YG Entertainment which is a South Korean music label who  represent popular artists such as Psy and other major Korean pop acts.

Despite China’s music industry being plagued by online piracy, the scene began to change in 2011 when China’s top interent search company Baidu arrived at a licensing deal with Universal Music Group, Warner Music Group, and Sony BMG which included shutting down access to pirated music found through its search engines.

From that day onwards, Baidu, Tencent, Alibaba, China Mobile and many other major Internet companies in China have begun to offer streaming music services. However, despite all this, the market for streaming music is still quite small with less than one percent of the $15 billion in global revenues made in 2013 by record labels.

Instagram now valued at $35 Billion

Instagram-Logo

According to Citigroup, Instagram was raised in value from $19 Billion to a whopping $35 billion.

The popular photo editing and sharing network recently stated that it had surpassed 300 million active users, and has also taken steps towards cleaning up and kicking out spam accounts (which are numerous), as well as adding new filters and features for an update scheduled within the next few days.

Instagram was acquired by Facebook back in April of 2012 for $1 billion. At the time, Instagram has around 27 million users on iOS but that all drastically increased when they launched it for Android. and now has more active users than Twitter.

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