In early 2021, Americans living on the East Coast got a sharp lesson on the growing importance of cybersecurity in the energy industry. A ransomware attack hit the company that operates the Colonial Pipeline—the major infrastructure artery that carries almost half of all liquid fuels from the Gulf Coast to the eastern United States. Knowing that at least some of their computer systems had been compromised, and unable to be certain about the extent of their problems, the company was forced to resort to a brute-force solution: shut down the whole pipeline.
Leo Simonovich is vice president and global head of industrial cyber and digital security at Siemens Energy.
The interruption of fuel delivery had huge consequences. Fuel prices immediately spiked. The President of the United States got involved, trying to assure panicked consumers and businesses that fuel would become available soon. Five days and untold millions of dollars in economic damage later, the company paid a $4.4 million ransom and restored its operations.
It would be a mistake to see this incident as the story of a single pipeline. Across the energy sector, more and more of the physical equipment that makes and moves fuel and electricity across the country and around the world relies on digitally controlled, networked equipment. Systems designed and engineered for analogue operations have been retrofitted. The new wave of low-emissions technologies—from solar to wind to combined-cycle turbines—are inherently digital tech, using automated controls to squeeze every efficiency from their respective energy sources.
Meanwhile, the covid-19 crisis has accelerated a separate trend toward remote operation and ever more sophisticated automation. A huge number of workers have moved from reading dials at a plant to reading screens from their couch. Powerful tools to change how power is made and routed can now be altered by anyone who knows how to log in.
These changes are great news—the world gets more energy, lower emissions, and lower prices. But these changes also highlight the kinds of vulnerabilities that brought the Colonial Pipeline to an abrupt halt. The same tools that make legitimate energy-sector workers more powerful become dangerous when hijacked by hackers. For example, hard-to-replace equipment can be given commands to shake itself to bits, putting chunks of a national grid out of commission for months at a stretch.
For many nation-states, the ability to push a button and sow chaos in a rival state’s economy is highly desirable. And the more energy infrastructure becomes hyperconnected and digitally managed, the more targets offer exactly that opportunity. It’s not surprising, then, that an increasing share of cyberattacks seen in the energy sector have shifted from targeting information technologies (IT) to targeting operating technologies (OT)—the equipment that directly controls physical plant operations.
To stay on top of the challenge, chief information security officers (CISOs) and their security operations centers (SOCs) will have to update their approaches. Defending operating technologies calls for different strategies—and a distinct knowledge base—than defending information technologies. For starters, defenders need to understand the operating status and tolerances of their assets—a command to push steam through a turbine works well when the turbine is warm, but can break it when the turbine is cold. Identical commands could be legitimate or malicious, depending on context.
Even collecting the contextual data needed for threat monitoring and detection is a logistical and technical nightmare. Typical energy systems are composed of equipment from several manufacturers, installed and retrofitted over decades. Only the most modern layers were built with cybersecurity as a design constraint, and almost none of the machine languages used were ever meant to be compatible.
For most companies, the current state of cybersecurity maturity leaves much to be desired. Near-omniscient views into IT systems are paired with big OT blind spots. Data lakes swell with carefully collected outputs that can’t be combined into a coherent, comprehensive picture of operational status. Analysts burn out under alert fatigue while trying to manually sort benign alerts from consequential events. Many
By: Leo Simonovich
Title: Securing the energy revolution and IoT future
Sourced From: www.technologyreview.com/2021/09/21/1036050/securing-the-energy-revolution-and-iot-future/
Published Date: Tue, 21 Sep 2021 13:30:00 +0000
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LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys
Bitso, a leading cryptocurrency platform operating in Latin America, and the Mexican Football Federation (FMF), today announced the joint launch of the first collectible NFT of the Mexico National Team’s jerseys that was acquired in cryptocurrencies.
This morning through their social media platforms, the FMF and Bitso announced the opportunity to acquire the new official National Team fan jerseys ahead of the team’s participation in the 2022 World Cup. In just 20 minutes, the entire collection sold out.
The NFTs of the jerseys have an exclusive design for the metaverse – each is unique on the blockchain and can be resold by its owner in subsequent transactions.
The collection consisted of 100 official physical jerseys, each with a corresponding NFT version of the jersey that fans’ avatars can wear within the Decentraland metaverse. Each physical and NFT jersey set sold for the equivalent of $1,800 MXN in ethers.
“Our mission is to make cryptocurrency useful in the everyday life of Mexicans; we are committed to spreading the technology through innovative opportunities that help people throughout the country familiarize themselves with this new world. We are very excited to offer the incredible, historic opportunity for the fans of our National Team so that through their Bitso account, they can wear the colors of the National Team on and ‘off’ the field in the metaverse.”
– Bárbara González Briseño, General Director of Bitso México
Created by Bitso, the virtual jersey sports the official colors of Mexico and the new National Team shield, characteristics that will make it stand out when users wear it in the virtual world of Decentraland.
The post LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys appeared first on CryptoNinjas.
Title: LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys
Sourced From: www.cryptoninjas.net/2022/07/29/latam-crypto-exchange-bitso-and-fmf-launch-nft-of-mexicos-national-team-jerseys/
Published Date: Fri, 29 Jul 2022 15:19:02 +0000
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Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth
EXMO, a crypto exchange platform operating since 2014, announced this week a rebranded visual identity with includes a new logo, brand colors, and design features. This new branding comes as EXMO continues to grow its crypto platform while also seeking to expand its presence in other jurisdictions.
Some new developments underway at EXMO:
Soon, users will be able to earn passive income from EXMO’s new staking platform.Plans to launch an EXMO crypto debit card.Expansion of its services in international markets with the opening of offices in Poland and Lithuania.
EXMO’s new logo
The rationale for the re-brand:
“At EXMO, we have a vision of a world where crypto is in every wallet. Hassle-free. We want to achieve this by making crypto as simple and accessible to everyone as possible. And we know that you already appreciate EXMO for offering user-friendly services and helpful support. Also for the opportunity to trade anywhere and anytime, closing deals in just a few taps. Such important changes required a rethinking of our corporate style, which has long needed a massive upgrade. So today we are introducing a new brand identity for EXMO with a completely new visual concept. We are launching a new logo, brand colors, and design elements. Our key design principles are simplicity, boldness, and a pinch of fun. But most importantly, we have changed our logo. Simple and easily recognizable, it represents the humanity of our brand. The logo stands out due to the wavy letter ‘m’ which symbolizes exchange rate charts and also resembles a spring that will launch you into the crypto world.”
– The EXMO Team regarding the re-branding
The post Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth appeared first on CryptoNinjas.
Title: Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth
Sourced From: www.cryptoninjas.net/2022/07/26/long-running-crypto-exchange-exmo-unveils-lively-rebrand-amidst-growth/
Published Date: Tue, 26 Jul 2022 08:10:38 +0000
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Stitching together the grid will save lives as extreme weather worsens
The blistering heat waves that set temperature records across much of the US in recent days have strained electricity systems, threatening to knock out power in vulnerable regions of the country.
The electricity has largely stayed online so far this summer, but there have been scattered problems and close calls already.
Heavy use of energy-sucking air-conditioners is the biggest problem. But intense heat can also reduce the output of power plants, blow transformers, and force power lines to sag. Severe droughts across large parts of the country have also significantly reduced the availability of hydroelectric power, according to the North American Electric Reliability Corporation (NERC).
It’s unlikely to get better soon. A number of grid operators may struggle to meet peak summer demand, creating the risk of rolling blackouts, the NERC report notes.
The nation’s isolated and antiquated grids are in desperate need of upgrades to keep the lights, heat, and air-conditioning on in the midst of extreme weather events that climate change is making more common, severe, and dangerous. One clear way to ease many of these issues is to more tightly integrate the country’s regional grids, stitching them together with more long-range transmission lines.
If electricity generated in one area can be more easily shared across much wider regions, power can simply flow to where it’s needed at those moments when customers crank up air-conditioners en masse, or when power plants or fuel supply lines fail amid soaring temperatures, wildfires, hurricanes, or other events, says Liza Reed, a research manager focused on transmission at the Niskanen Center, a Washington, DC, think tank.
The problem is it’s proved difficult to build more long-range transmission and grid interconnections for a variety of reasons, including the permitting challenges of erecting wires through private and public lands across cities, counties, and states and the reluctance of local authorities to forfeit control or submit to greater federal oversight.
The case of Texas
The unreliability of the US grid is not a new problem. Severe heat and winter storms have repeatedly exposed the frailty of electricity systems in recent years, leaving thousands to millions of people without power as temperatures spiked or plunged.
One of the fundamental challenges is that the grids today are highly fragmented. There are three main electricity networks within the US: the Eastern Grid, the Western Grid, and the Electric Reliability Council of Texas (ERCOT). But there are numerous regional transmission organizations within those first two systems, including the California Independent System Operator, Southwest Power Pool, PJM Interconnection, New York ISO, and more.
These grids form a complex web of networks operating under different regulators, rules and market structures, and often with limited connections between them.
A variety of regional transmission organizations oversee different parts of the nation’s aging and fragmented grids, which operate under different rules and with often limited connections between them.
ERCOT is especially isolated, in part because of the desire among local politicians, citizens, and power companies to avoid added competition, the hassle of following other states’ rules, and oversight from the Federal Energy Regulatory Commission (FERC). But the state offers a case study in why that can be a serious problem amid increasingly harsh climate conditions, Reed says.
The Texas grid operator pleaded with customers several times earlier this month to cut electricity use as blistering summer temperatures created demand surges that threatened to outstrip supply and require rolling blackouts. Low wind conditions, cloud cover, and outages at fossil-fuel power plants added to the strains.
Shutting off the electricity needed to run air-conditioning in triple-digit temperatures
By: James Temple
Title: Stitching together the grid will save lives as extreme weather worsens
Sourced From: www.technologyreview.com/2022/07/28/1056483/stitching-together-the-grid-will-save-lives-as-extreme-weather-worsens/
Published Date: Thu, 28 Jul 2022 08:00:00 +0000
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