😳 Meta Fined $102M For Password Storage

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Hey Waivly Crew! 🌊 In today’s edition, we’ve got a variety of topics to explore.

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Here’s what’s on the horizon today:

• OpenAI unveils Realtime API at 2024 DevDay

• Hacker pleads guilty to stealing $37 million in crypto

• Meta hit with €91 million fine for lax password safety

• Uber and Wing partner for drone delivery pilot in Dallas

Let’s dive in!

STORIES MAKING A SPLASH

^_AI
OpenAI unveils Realtime API at 2024 DevDay

OpenAI is energizing developers at its 2024 DevDay amid a flurry of executive departures and fundraising efforts. This week, the company launched several tools, including the Realtime API, which enables low-latency AI-generated voice responses for app development, providing a similar experience to ChatGPT’s Advanced Voice Mode.

OpenAI has cut API access costs by 99% over the past two years, likely due to competitive pricing from Meta and Google. The Realtime API allows developers to create nearly real-time speech-to-speech applications using six distinct voices, but third-party options are not permitted to avoid copyright issues.

At the event, Romain Huet showcased the Realtime API with a trip planning app that delivered instant AI responses. While it can interact with humans via calling APIs like Twilio, developers must disclose AI usage during calls, despite the realistic-sounding voices.

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^_CRYPTO
Hacker pleads guilty to stealing $37 million in crypto

A hacker who stole over $37 million in cryptocurrency from nearly 600 victims has pleaded guilty to conspiracy to commit wire fraud and money laundering. Evan Frederick Light of Indiana accessed an investment firm's servers, stealing customer data to siphon digital assets.

To cover his tracks, Light funneled the stolen funds through crypto mixers and gambling sites. He pleaded guilty on Sept. 30 and faces up to 20 years in prison for each charge. His crimes, committed between 2021 and 2023, involved at least one other accomplice.

The Department of Justice emphasized its commitment to pursuing cybercriminals, stating, "Although this defendant tried to hide in the shadows of a cyber underworld, he was not beyond our reach." Crypto fraud is rising, with Americans losing $5.6 billion in 2023, according to the FBI.

TECH SPECIAL

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Meta hit with €91 million fine for lax password safety

Meta has been fined $101.5 million (€91 million) by Ireland's Data Protection Commission (DPC) for a 2019 security breach where user passwords were stored in plain text. The breach involved up to 600 million passwords, which were accessible to over 20,000 Facebook employees. Some passwords had been exposed since 2012, but no external access was confirmed.

The DPC ruled that Meta violated GDPR by failing to promptly notify the commission and not implementing adequate security measures to protect user passwords. Meta's delay in addressing the breach compounded the issue.

In addition to the fine, Meta received a reprimand from the DPC, with more details expected when the commission releases its final decision. This breach highlights the importance of securing sensitive user data, especially on platforms as large as Meta’s.

^{_{TECH SPECIAL}}
Uber and Wing partner for drone delivery pilot in Dallas

Uber's Serve Robotics and Alphabet's Wing are teaming up for a dual test run of sidewalk and flying drones in Dallas, aiming to speed up delivery times by covering areas their counterpart can't reach. The test, expected in the coming months, will involve select customer orders delivered using a mix of these two drone types.

Flying drones face distance limitations, while sidewalk drones struggle with crowded areas and rough terrains. This partnership hopes to solve these issues by having Serve bots pick up orders and transfer them to Wing’s flying drones for final delivery, combining strengths for better coverage.

Details on which restaurants will participate or future plans remain unclear. However, both companies have experience, with Serve operating in Los Angeles and Wing already working with Walmart in Dallas and DoorDash in Virginia.

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THE WAVES

^{_{OTHER NEWS}}
More Stories Surfing The Web

🤔 Foursquare founder Dennis Crowley on Facebook copying their product

🌐 Threads to display your follower count in the Fediverse

⚖️ Amazon wins partial dismissal of US antitrust lawsuit

🤖 OpenAI introduces suite of AI tools for developers

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