For consecutive years, we have heard only the good side about the cloud, and we have all rushed to use the tools hosted there anticipating miracles and sometimes magic. There are a lot of top IT company in Baltimore City pulling out of the cloud, despite the good we have been exposed to.
Verizon Shutting Down Public Cloud, Gives Two Months to Move Data
…The company notified its cloud customers of the coming change Thursday, giving them two months to move their data or lose it forever. It has already removed any mention of public cloud compute services from its website.
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The move appears to be a confirmation of what many in the industry have been predicting, especially since news started coming out of big telcos looking to offload massive data center portfolios they had amassed in recent years to go after the cloud services market. It has become almost impossible to compete with AWS, Azure, and to a lesser extent with Google Cloud Platform in the market for renting virtual compute power over the internet and charging by the hour….Read more here…
Image credit: Twitter
Two months is a small gap, considering some have stored their entire businesses and would need transition option weighing before leaving. Perhaps the most pushing motive for leaving, besides competition is the pressure to stay safe – versus how the company would fail if a breach were to succeed. Lately cloud systems have been proving unsafe.
Digital currency Ethereum is cratering because of a $50 million hack
…Ethereum is a decentralised currency like bitcoin, but it is built in such a way that it also allows for decentralised organisations to be built on top of its blockchain (the public ledger of transactions) and for smart contracts that can execute themselves automatically if certain conditions are met….
…Early Friday morning, it appears to have been hit with a devastating attack, with unidentified attackers appearing to exploit a software vulnerability and draining drain millions of ether — with a theoretical value in the tens of millions of dollars…Read more here..
If a currency like this, cloud-based and showing promise, can be stolen from those capable of securing the internet from hackers, what more business information, which in the long and short measures up to currency.
Here is an explanation from the maker, Vitalik Buterin, of what Ethereum is all about:
Image credit: CloudTweaks
Hackers Found Selling Access to 70,000 Company Servers
(Bloomberg) — Cyber-security firm Kaspersky Lab says it has uncovered an online marketplace where criminals from all over the world sell access to more than 70,000 hacked corporate and government servers for as little as $6 each.
Kaspersky discovered the forum after a tip from a European internet service provider. The market, called xDedic, is operated by hackers, who are probably Russian speaking, that have ditched their traditional business model of just selling passwords and have graduated instead to earning a commission from each transaction on their black market.
Apparently you can buy access to any of the hacked servers on a market just like Ebay, and these servers’ IT support managers or even managed service providers would have no idea of the transactions you can then carry out willy-nilly.
As much as the cloud services providers and their client enterprises have brought the benefits of doing business closer between transacting people, the same technology has caused a lot of ill intended events, they are now surfacing.
