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Elon Musk issues blow to bitcoin as Tesla backs away from crypto purchases

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The price of bitcoin plunged following the Tesla CEO’s announcement that the company would no longer accept the cryptocurrency as payment.

Electric vehicle-maker Tesla caused a stir when it announced in February that it would begin accepting bitcoin for car purchases.

At the time, the company said it had bought $1.5bn in bitcoin and that it could go on to acquire and hold more digital assets.

However, three months down the line, the company has pulled back on the cryptocurrency, announcing this week that it will no longer accept bitcoin for payment.

‘We are concerned about rapidly increasing use of fossil fuels for bitcoin mining’
– ELON MUSK

Tesla CEO Elon Musk cited environmental concerns for the sudden volte-face.

“Tesla has suspended vehicle purchases using bitcoin,” he said in a statement released via Twitter.

“We are concerned about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”

Musk added that the company will cease any trading in bitcoin until these energy concerns addressed: “Tesla will not be selling any bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use less than 1pc of bictoin’s energy per transaction.”

How does bitcoin affect the environment?

The mining of bitcoin involves the use of energy-intensive computing processes to solve complex mathematical problems.

According to the University of Cambridge Bitcoin Electricity Consumption Index, bitcoin mining consumes as much energy annually as a small country at 149.63 terawatt-hours. This is more than the annual electricity consumption of countries such as Sweden, Argentina and The Netherlands.

The source of this electricity, as with much of the electricity consumed around the world, relies heavily on fossil fuels.

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In one case in the US, bitcoin has even driven the reopening of a previously abandoned power plant, restarting fossil fuel emissions. According to Mother Jones, Greenidge Generation’s natural gas plant in New York uses enough power for around 9,000 homes to mine about $50,000 worth of bitcoin per day.

Instant impact on price of bitcoin

While Tesla’s initial backing of bitcoin drove a surge in the price of the cryptocurrency, the reversal has also had a swift impact.

Reuters reports that the tweet from Musk sent the price of bitcoin down dramatically, by as much as 17pc, hitting its lowest price since 1 March. However, the cryptocurrency reportedly clawed back about half of that drop in Asian trading.

Similarly Ethereum, the world’s second-largest cryptocurrency after bitcoin, dropped as low as 14pc before recovering.

This came just as Ethereum was reaching all-time highs and even outperforming bitcoin. Also known as Ether, this cryptocurrency differs from bitcoin in that it is a platform on which apps can be built. For example, the recently popular non-fungible tokens (NFTs) are typically built on the Ethereum blockchain.

What does this mean for the future of cryptocurrency?

It remains to be seen what impact this move from Tesla may have to others that have recently begun dealing in bitcoin.

At its earnings call this week, data analytics company Palantir said investments in bitcoin are “definitely on the table” as it followed Tesla in announcing that it would accept the cryptocurrency as payment.

PayPal recently rolled out crypto functions and even acquired crypto-security company Curv as it delves deeper into digital wallets.

In March, Visa announced the pilot for a new system to allow cryptocurrency transactions to be settled without converting to traditional currency. This was considered a major move for mainstream cryptocurrency acceptance.

Musk himself reaffirmed his commitment to cryptocurrencies, provided they can consume less energy.

“Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment,” he said in his statement.



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Emmanuel Macron ‘pushes for Israeli inquiry’ into NSO spyware concerns | France

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Emmanuel Macron has reportedly spoken to the Israeli prime minister, Naftali Bennett, to ensure that the Israeli government is “properly investigating” allegations that the French president could have been targeted with Israeli-made spyware by Morocco’s security services.

In a phone call, Macron expressed concern that his phone and those of most of his cabinet could have been infected with Pegasus, hacking software developed by the Israeli surveillance firm NSO Group, which enables operators of the tool to extract messages, photos and emails, record calls and secretly activate microphones from infected devices.

The leaked database at the heart of the Pegasus project includes Macron’s mobile phone number.

NSO has said Macron was not a “target” of any of its customers, meaning the company denies he was selected for surveillance using Pegasus. The company says that the fact that a number appeared on the list was in no way indicative of whether that number was selected for surveillance using Pegasus.

The Pegasus project could not examine the mobile phones of the leaders and diplomats, and could therefore not confirm whether there had been any attempt to install malware on their phones.

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What is in the Pegasus project data?

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What is in the data leak?

The data leak is a list of more than 50,000 phone numbers that, since 2016, are believed to have been selected as those of people of interest by government clients of NSO Group, which sells surveillance software. The data also contains the time and date that numbers were selected, or entered on to a system. Forbidden Stories, a Paris-based nonprofit journalism organisation, and Amnesty International initially had access to the list and shared access with 16 media organisations including the Guardian. More than 80 journalists have worked together over several months as part of the Pegasus project. Amnesty’s Security Lab, a technical partner on the project, did the forensic analyses.

What does the leak indicate?

The consortium believes the data indicates the potential targets NSO’s government clients identified in advance of possible surveillance. While the data is an indication of intent, the presence of a number in the data does not reveal whether there was an attempt to infect the phone with spyware such as Pegasus, the company’s signature surveillance tool, or whether any attempt succeeded. The presence in the data of a very small number of landlines and US numbers, which NSO says are “technically impossible” to access with its tools, reveals some targets were selected by NSO clients even though they could not be infected with Pegasus. However, forensic examinations of a small sample of mobile phones with numbers on the list found tight correlations between the time and date of a number in the data and the start of Pegasus activity – in some cases as little as a few seconds.

What did forensic analysis reveal?

Amnesty examined 67 smartphones where attacks were suspected. Of those, 23 were successfully infected and 14 showed signs of attempted penetration. For the remaining 30, the tests were inconclusive, in several cases because the handsets had been replaced. Fifteen of the phones were Android devices, none of which showed evidence of successful infection. However, unlike iPhones, phones that use Android do not log the kinds of information required for Amnesty’s detective work. Three Android phones showed signs of targeting, such as Pegasus-linked SMS messages.

Amnesty shared “backup copies” of four iPhones with Citizen Lab, a research group at the University of Toronto that specialises in studying Pegasus, which confirmed that they showed signs of Pegasus infection. Citizen Lab also conducted a peer review of Amnesty’s forensic methods, and found them to be sound.

Which NSO clients were selecting numbers?

While the data is organised into clusters, indicative of individual NSO clients, it does not say which NSO client was responsible for selecting any given number. NSO claims to sell its tools to 60 clients in 40 countries, but refuses to identify them. By closely examining the pattern of targeting by individual clients in the leaked data, media partners were able to identify 10 governments believed to be responsible for selecting the targets: Azerbaijan, Bahrain, Kazakhstan, Mexico, Morocco, Rwanda, Saudi Arabia, Hungary, India, and the United Arab Emirates. Citizen Lab has also found evidence of all 10 being clients of NSO.

What does NSO Group say?

You can read NSO Group’s full statement here. The company has always said it does not have access to the data of its customers’ targets. Through its lawyers, NSO said the consortium had made “incorrect assumptions” about which clients use the company’s technology. It said the 50,000 number was “exaggerated” and that the list could not be a list of numbers “targeted by governments using Pegasus”. The lawyers said NSO had reason to believe the list accessed by the consortium “is not a list of numbers targeted by governments using Pegasus, but instead, may be part of a larger list of numbers that might have been used by NSO Group customers for other purposes”. They said it was a list of numbers that anyone could search on an open source system. After further questions, the lawyers said the consortium was basing its findings “on misleading interpretation of leaked data from accessible and overt basic information, such as HLR Lookup services, which have no bearing on the list of the customers’ targets of Pegasus or any other NSO products … we still do not see any correlation of these lists to anything related to use of NSO Group technologies”. Following publication, they explained that they considered a “target” to be a phone that was the subject of a successful or attempted (but failed) infection by Pegasus, and reiterated that the list of 50,000 phones was too large for it to represent “targets” of Pegasus. They said that the fact that a number appeared on the list was in no way indicative of whether it had been selected for surveillance using Pegasus. 

What is HLR lookup data?

The term HLR, or home location register, refers to a database that is essential to operating mobile phone networks. Such registers keep records on the networks of phone users and their general locations, along with other identifying information that is used routinely in routing calls and texts. Telecoms and surveillance experts say HLR data can sometimes be used in the early phase of a surveillance attempt, when identifying whether it is possible to connect to a phone. The consortium understands NSO clients have the capability through an interface on the Pegasus system to conduct HLR lookup inquiries. It is unclear whether Pegasus operators are required to conduct HRL lookup inquiries via its interface to use its software; an NSO source stressed its clients may have different reasons – unrelated to Pegasus – for conducting HLR lookups via an NSO system.

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The Macron-Bennett phone call reportedly took place on Thursday, but was first reported by Israel’s Channel 12 News on Saturday evening after the end of Shabbat, the Jewish day of rest.

The prime minister’s office has declined to comment on the phone call or the two leaders’ conversation. According to Channel 12, an unnamed source said Bennett had stressed that the alleged events occurred before he took office in May, and that a commission was examining whether rules on Israel’s export of cyberweapons such as Pegasus should be tightened.

The Pegasus project – a consortium of 17 media outlets, including the Guardian – revealed last week that government clients around the world have used the hacking software sold by NSO to target human rights activists, journalists and lawyers.

The investigation has been based on forensic analysis of phones and analysis of a leaked database of 50,000 numbers, including that of Macron and those of heads of state and senior government, diplomatic and military officials, in 34 countries.

In multiple statements, NSO said the fact a number appeared on the leaked list was in no way indicative of whether it was selected for surveillance using Pegasus. “The list is not a list of Pegasus targets or potential targets,” the company said. “The numbers in the list are not related to NSO Group in any way.”

But the list is believed to provide insights into those identified as persons of interest by NSO’s clients. It includes people whose phones showed traces of NSO’s signature phone-hacking spyware, Pegasus, according to forensic analysis of their devices. The analysis was conducted by Amnesty International’s security lab, which discovered traces of Pegasus-related activity on 37 out of 67 phones that it analysed.

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What is the Pegasus project?

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The Pegasus project is a collaborative journalistic investigation into the NSO Group and its clients. The company sells surveillance technology to governments worldwide. Its flagship product is Pegasus, spying software – or spyware – that targets iPhones and Android devices. Once a phone is infected, a Pegasus operator can secretly extract chats, photos, emails and location data, or activate microphones and cameras without a user knowing.

Forbidden Stories, a Paris-based nonprofit journalism organisation, and Amnesty International had access to a leak of more than 50,000 phone numbers selected as targets by clients of NSO since 2016. Access to the data was then shared with the Guardian and 16 other news organisations, including the Washington Post, Le Monde, Die Zeit and Süddeutsche Zeitung. More than 80 journalists have worked collaboratively over several months on the investigation, which was coordinated by Forbidden Stories.

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While the rest of the world grapples with the seismic consequences of the revelations, in Israel reaction has been muted. Meretz, a leftwing party long in opposition but now part of the new government coalition, has asked the defence ministry for “clarification” on the issue, but no party is seeking a freeze of export licences or an inquiry into NSO’s close links to the Israeli state under the tenure of the former prime minister Benjamin Netanyahu.

The defence minister, Benny Gantz, has defended export licences for the hacking tools, claiming that “countries that purchase these systems must meet the terms of use”, which are solely for criminal and terrorism investigations.

But as the mammoth impact of the disclosures has become clearer, the diplomatic pressure on Israel is mounting. On Thursday, the senior Israeli MP Ram Ben-Barak – a former deputy head of the Mossad spy agency – confirmed that the Israeli defence establishment had “appointed a review commission made up of a number of groups” to examine whether policy changes were needed regarding sensitive cyber exports.

US defence officials have also asked their Israeli counterparts for more details on the “disturbing” disclosures stemming from the Pegasus project, the Israeli newspaper Haaretz reported on Saturday.

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Google fixes ‘Chromebork’ one-character code typo that prevented Chrome OS logins • The Register

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Bug of the week Google has fixed a bug in Chrome OS version 91.0.4472.165 that surfaced on Monday and prevented some users from being able to login to their systems.

Chrome OS downloads updates automatically but doesn’t apply them until reboot, so only those who restarted their Chromebooks to ingest the force-fed broken update were affected.

Earlier this week, the internet titan on its Google Workplace status page said, “Our engineering team has identified an issue on Chrome OS 91.0.4472.165. The rollout of this version was halted.”

As a workaround for those bitten by the bug, Google advised users: to “powerwash” their Chrome OS devices back to factory settings; to rollback the Chrome OS device to a previous version via USB; or to remove the affected account and add the account back to the device. All three mitigations, however, clear local data on the device.

The programming blunder consists of a single missing character, an ampersand (&), that was inadvertently omitted from the Chrome OS C++ code. That oversight changed the logical AND operator (&&) in this conditional statement to a bitwise AND (&):

if (key_data_.has_value() && !key_data_->label().empty())

That means, for one thing, both sides of the conditional statement would be evaluated every time, rather than the right-hand-side call to empty() only being made if the left-hand-side has_value() returned true. In any case, omitting the ampersand changed the behavior of Chrome OS’s code.

The typo was committed to the Chrome OS source on July 2, 2021, and didn’t affect anyone until this week. The typo was discussed on Reddit earlier this week.

Google’s patch, Chrome OS 91.0.4472.167, was issued on Wednesday and has been rolling out gradually per Google’s release pattern.

“Affected devices can login via guest mode or an account that hasn’t signed into the device and follow the steps in this [Help Center] article to download the update,” said Google.

This is the second Chrome OS version 91 update to go awry this month. An update to version 91.0.4472.147, issued on June 30, 2021, proved problematic for certain hardware configurations, causing extreme CPU usage. Google undid the offending update about a week ago but the problematic code has yet to be dealt with. ®

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Power Capital takes majority interest in Terra Solar’s portfolio

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Terra Solar, a NovaUCD start-up founded in 2016, is giving up its sites in Wexford and Cork to Power Capital to develop solar farms.

Dublin-based company Power Capital Renewable Energy (PCRE) has announced plans to acquire majority interest in Terra Solar’s 400MW portfolio.

This will bring the company’s total solar assets to 840MW and boost its presence in the Irish solar power space.

A start-up that sprung out of NovaUCD, the University College Dublin accelerator, Terra Solar was founded by David Fewer and André Fernon in 2016. State-owned ESB was one of Terra Solar’s early investors, putting up €2.5m for a stake in the company.

Paris-based VC firm Omnes Capital will back the development of the solar sites over the next few years, which require around €200m to build out. Irish and international lenders will also back the development.

Power Capital director Peter Duff said that his company’s aim of becoming Ireland’s leading independent power producer has come a step closer with the deal.

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“Both Terra Solar and PCRE share common values and ambitions to help Ireland meet its 2030 targets and we are excited that Terra Solar chose us as a partner to bring these sites through construction,” he said.

The solar farm sites, located in Wexford and Cork, are a culmination of more than four years of engagement with local landowners, communities and planners, said Fewer.

“We will be retaining an equity stake in the developments and will be working intensively with all stakeholders over the coming few years to ensure that these sites are successfully constructed while equally continuing to grow our remaining development pipeline of 600MW.”

Justin Brown, co-founder of Power Capital, said that the company is currently in talks with other industry bodies about “increasing our foothold in the sector and we expect to see renewable energy being the dominant generator of electricity across Ireland within the next decade”.

Construction on the solar farms is set to begin in 2022 and the project is expected to be completed in the next five years.

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