Ex-Amazon engineer sentenced to 3 years in prison for $12m crypto hack

A former Amazon software engineer Shakeeb Ahmed was sentenced to three years in prison for exploiting smart contracts. The breaches in 2022 resulted in the theft of over $12 million in different cryptocurrencies. The trial was the first-ever sentencing for a cyberattack on smart contracts. Ahmed admitted in December 2023 to manipulating smart contracts. By inserting fraudulent pricing data into the...

Amazon shuts down Chinese retailer’s 340 stores, freezes $27m of its funds

Amazon.com has closed 340 online stores operated by one of the platform's largest Chinese retailers in the first half of this year, as the US e-commerce giant intensifies its crackdown against paid reviews and other violations. The action was taken against stores run by Shenzhen Youkeshu Technology Co. for allegedly violating Amazon's rules, without providing any details,...

Apple, Google, Amazon take aim at Trump visa ban

US President Donald Trump has suspended the entry of some foreign workers in a bid to boost domestic hiring, sparking opposition from corporate America and tech sector executives including Google's Sundar Pichai and Tesla's Elon Musk. The visa suspension, effective June 24, will last until the end of the year and is expected to open up...