The Capitalist Investor - Episode 89

The crosshairs are on the Cryptocurrency community because cyber attackers are demanding their ransom be paid in Bitcoin. Bitcoin is the currency of choice for illegal activity & blackmailing corporations. Hackers are taking advantage of the lack of regulation and oversight that is currently in place. Does this activity change the way you feel about owning it? Will regulations affect the value of Bitcoin? How will gains be reported for tax purposes? Tony “The Tiger” Zabiegala and “No Nickname” Mark Tepper discuss their views on this very important issue. And finally, has Mark Finally landed on a nickname?!

Outline of This Episode

  • [4:50] Tony has Lifelock but Mark has an even better method of protecting your identity from being hacked
  • [5:45] T‑Mobile Cybersecurity Incident Update
  • [12:05] Mark reveals his best-kept secret to protect your identity
  • [16:40] Ransoms are being paid in Bitcoin

[5:45] T‑Mobile Cybersecurity Incident Update

We have been working around the clock to investigate claims being made that T-Mobile data may have been illegally accessed. We take the protection of our customers very seriously and we are conducting an extensive analysis alongside digital forensic experts to understand the validity of these claims, and we are coordinating with law enforcement.

We have determined that unauthorized access to some T-Mobile data occurred, however, we have not yet determined that there is any personal customer data involved. We are confident that the entry point used to gain access has been closed, and we are continuing our deep technical review of the situation across our systems to identify the nature of any data that was illegally accessed. This investigation will take some time but we are working with the highest degree of urgency. Until we have completed this assessment we cannot confirm the reported number of records affected or the validity of statements made by others.

We understand that customers will have questions and concerns, and resolving those is critically important to us. Once we have a more complete and verified understanding of what occurred, we will proactively communicate with our customers and other stakeholders.

[12:05] Mark reveals his best-kept secret to protect your identity

Mark has lived through being hacked and someone using his identity.

[16:40] Ransoms are being paid in Bitcoin

A business will fall victim to a ransomware attack every 11 seconds this year, according to research firm Cybersecurity Ventures. Some of them, like Colonial Pipeline, have admitted they don’t have a plan for when that happens.

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