THE $48M BTCTURK HACK: WHAT WE KNOW- BtcTurk, one of Turkey’s largest crypto exchanges, has been hit by a $48M theft targeting its hot wallets, per blockchain security firm Cyvers.- The breach, detected on Aug. 14, forced the exchange to halt all crypto deposits and withdrawals. Trading and Turkish Lira transactions continue.- Blockchain security firm Cyvers says the attacker moved funds across Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle, and Polygon.- Most assets landed in two addresses, where th ...

Cybersecurity Threat - Russian government hackers infiltrated US court record systems [1] - Hackers stole sensitive documents that were supposed to be sealed from the public [1] Data Breach - The breach persisted for years [1]

Cybersecurity Threat - Norway's spy chief attributes the hijacking of a dam to Russian hackers [1] International Relations - The incident implicates Russia in potential cyber espionage and infrastructure disruption activities [1]

Financial Data and Key Metrics Changes - Total sales for Q2 2025 were $5.1 million, an increase of approximately $236,000 or 4.8% compared to Q2 2024, driven by growth in subscription-based services [6][8] - Total sales for the first half of 2025 were $13.2 million, an increase of approximately $84,000 or 0.6% compared to the first half of 2024, with a significant shift in revenue mix [8][12] - Net loss attributable to common shareholders for Q2 2025 was $733,000 compared to a net loss of $244,000 for Q2 2024 [12] - Cash, cash equivalents, and marketable securities at the end of Q2 2025 were approximately $11.1 million, down from $12.3 million at the end of Q2 2024 [13] Business Line Data and Key Metrics Changes - Cloud infrastructure and disaster recovery revenue increased by approximately $193,000 or 6.1% in Q2 2025 due to new subscription clients and expanded services [6] - Nexus services saw an increase of approximately $48,000 or 17.3% [7] - Equipment and software sales decreased by approximately $95,000 or 12.1% due to non-recurring sales in the prior year [7] Market Data and Key Metrics Changes - The company reported a significant shift in revenue mix, with a $600,000 or 9.8% increase in core cloud infrastructure and disaster recovery services for the first half of 2025 [8] - The company is seeing a three-to-one ratio of ads to existing customers, indicating strong lead generation and customer acquisition [30] Company Strategy and Development Direction - The proposed sale of Cloud First Technologies is a key strategic move, with a potential net amount of $24 million to be returned to shareholders and reinvested in growth [15][16] - The company plans to allocate 15% of cash for acquisitions, innovation, and expansion, regardless of the sale outcome [17][21] - A full rebranding of the company is underway to reflect its new direction, focusing on high-growth markets such as AI and cybersecurity [20][21] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of unlocking hidden value through the sale of Cloud First, which has been a cash-generating business [40] - The company is committed to pursuing growth opportunities in AI and other verticals, regardless of the sale outcome [22][24] - Management expressed confidence in the company's ability to transform and adapt to market changes, focusing on delivering shareholder value [49][50] Other Important Information - The proposed transaction is subject to shareholder approval at the annual meeting on September 10, 2025 [22] - The company is exploring strategic partnerships and technology extensions to support its growth agenda [18][19] Q&A Session Summary Question: What will your cash position be roughly following the transaction? - Management indicated that post-transaction cash could be approximately $35 million, including $24 million from the sale and $11 million in cash [27] Question: How is the visibility into the cloud pipeline for the balance of the year? - Management noted a consistent pipeline of around $10 million in opportunities, with a strong ratio of new customer acquisitions [30] Question: Any update on the growth opportunity in Europe? - Management reported that operations in Europe are progressing well, with partnerships established and a growing sales team to support expansion [32][34] Question: What is the rationale behind selling Cloud First, given it represents about 95% of revenue? - Management explained that the sale aims to unlock value that is not being recognized in the public market, allowing for better capital allocation [40][41] Question: What will the company's operations look like post-divestiture? - Post-sale, the company will focus on AI and other growth areas, with a leaner operational structure and plans for strategic investments [43][44]

Core Insights - SecureTech Innovations, Inc. has engaged Craft Capital Management as its exclusive investment banking partner to enhance its capital markets strategy, including bridge financing, uplisting to a national securities exchange, and strategic acquisitions [1][2][4] - The partnership aims to strengthen SecureTech's balance sheet and provide working capital for near-term acquisition opportunities, supporting costs associated with its planned uplist to NYSE or NASDAQ [2][4] - SecureTech has recently acquired AI UltraProd, a leader in AI-powered industrial manufacturing, and is exploring additional M&A opportunities to expand its market presence and enhance shareholder value [3][4] Company Overview - SecureTech Innovations, Inc. is a technology company focused on artificial intelligence, industrial 3D printing, cybersecurity, and digital infrastructure solutions [5] - The company's portfolio includes AI UltraProd, Piranha Blockchain, and Top Kontrol, which address various technological challenges and enhance security [5] Leadership Commentary - J. Scott Sitra, President and CEO of SecureTech, emphasized that engaging Craft Capital Management is a pivotal step in executing the company's strategic roadmap for transformative growth and increased shareholder value [4] - Mackey McFarlane, Head Investment Banker at Craft Capital Management, expressed excitement about partnering with SecureTech, highlighting the company's innovative portfolio and scalable business model [4]

Core Insights - Data Storage Corporation reported strong growth in its core business, particularly in higher-margin, recurring subscription sales, with total sales of $5.1 million in Q2 2025, up 4.8% year-over-year [2][3] - The company proposed a $40 million sale of CloudFirst Technologies Corporation, which would yield approximately $24 million in net proceeds, subject to shareholder approval [2][3] - A tender offer to repurchase up to 85% of outstanding common stock has been authorized, aimed at returning capital to shareholders while retaining funds for future growth initiatives [2][3] Financial Performance - For the second quarter of 2025, total sales reached $5.1 million, reflecting a 4.8% increase from $4.9 million in Q2 2024 [3][15] - Gross profit for the quarter was $2.5 million, maintaining consistent margin levels [3][15] - The company ended the quarter with $11.1 million in cash and marketable securities, indicating a solid liquidity position [3][15] Strategic Initiatives - The proposed sale of CloudFirst is intended to unlock value and allow the company to focus on high-growth sectors such as artificial intelligence and cybersecurity [2][3] - Regardless of the sale's outcome, the company plans to evolve into a technology-driven enterprise and may pursue a corporate rebranding [2][3] - The annual meeting for shareholder approval of the proposed transaction is scheduled for September 10, 2025 [2][3]

Core Insights - Radware and Tet have signed a managed security service provider (MSSP) agreement to enhance Tet's security offerings with Radware's AI-powered Cloud Application Protection Services [1][2] - The partnership builds on an existing relationship, with Tet already utilizing Radware's DefensePro® DDoS Protection for its business customers [2][3] - The collaboration aims to address the increasing threat of web DDoS attacks, which surged by 550% from 2023 to 2024, primarily driven by hacktivist groups [3][4] Company Overview - Radware is a global leader in application security and delivery solutions for multi-cloud environments, utilizing AI-driven algorithms for real-time protection against sophisticated cyber threats [7] - Tet is one of Latvia's largest technology companies, providing a wide range of ICT and pay-TV services, as well as cloud and cybersecurity solutions [6] Market Context - The MSSP model offered by Radware provides ISPs like Tet a low-risk method to introduce proven security services while creating new revenue streams [4] - The growing threat landscape and shortage of in-house security staff are prompting organizations to seek alternative strategies to enhance their security posture [4] Technology and Services - Radware's Cloud Application Protection Service includes a comprehensive suite of security solutions such as web application firewall (WAF), bot detection, API protection, and application-layer DDoS protection [4] - The service is designed to defend against over 150 known attack vectors, including the OWASP's Top 10 Web Application Security Risks [4]

Cyber Security Threat Landscape - A North Korean hacking group was compromised, revealing details of their cyber operations [1] - The group employs low-tech, high-volume tactics to bypass security measures [3] - The group utilizes fake identities, including forged IDs and social media profiles, to infiltrate crypto firms [1] Hacking Techniques & Infrastructure - The team operated with 31 fake identities to secure jobs at crypto firms [1] - The group spent $1.489 thousand on infrastructure to support hacking activities [2] - The group uses Google services, AnyDesk, VPNs, and translation tools to mask their location and manage tasks [2] Financial Impact & Targets - The group is linked to a $680 thousand crypto hack in June [1] - The group is connected to a broader DPRK network tied to the $1.4 billion Bybit exchange hack in February [2] - A Payoneer wallet linked to the Favrr exploit suggests active laundering of stolen funds [2] Targets - The group targeted Polygon Labs with job applications [2] - The group claimed to have worked for OpenSea and Chainlink in scripted interview responses [2]

Core Insights - Intrusion Inc. reported a second-quarter 2025 loss of $0.10 per share, an improvement from a loss of $0.53 per share a year ago, but wider than the Zacks Consensus Estimate of a loss of $0.09 per share [1] - Quarterly revenues reached $1.9 million, reflecting a 28% year-over-year increase and a 6% sequential rise, surpassing the Zacks Consensus Estimate of $1.8 million [2][9] - The company secured an additional $3 million from the Department of Defense (DoD) to enhance operational deployment of its infrastructure monitoring tools and expand threat analysis capabilities [3][9] Revenue and Product Performance - The revenue growth was driven by new customer acquisitions and expanded work with existing clients, particularly the DoD, marking the fifth consecutive quarter of revenue growth [2][9] - Consulting revenues for the quarter were $1.4 million, remaining flat sequentially but up by $0.2 million year-over-year, while Shield revenues totaled $0.5 million, an increase of $0.1 million sequentially and $0.2 million year-over-year [5] - The stability in gross margin at 76% year-over-year indicates the scalability of Intrusion's business model, although management notes potential fluctuations based on product mix [7] Operating Expenses and Financial Position - Operating expenses increased to $3.5 million from $3.1 million in the prior-year quarter, reflecting strategic investments in R&D, sales, and marketing [10] - The operating loss totaled $2.1 million compared to an operating loss of $2 million in the prior-year quarter [10] - As of June 30, 2025, Intrusion had $4.7 million in cash and cash equivalents, down from $10.7 million as of March 31 [11] Market Reaction - Following the results, Intrusion's shares gained 5.5% in trading, closing at $1.91 on August 12, and were up 4.2% in pre-market trading the following day [6]

Core Insights - Cybersecurity has emerged as the top external concern for manufacturers, surpassing economic conditions, with 30% of respondents identifying it as a significant risk [7] - The integration of IT and OT is increasing the risk of cyberattacks, prompting 61% of cybersecurity professionals to plan for AI adoption to manage these risks [2][7] - Workforce development remains a challenge, with a shortage of skilled talent and rising labor costs hindering competition, particularly in cybersecurity and analytical skills [4] Cybersecurity Findings - Cybersecurity is now viewed as a business enabler rather than just a technology issue, with manufacturers leveraging AI to enhance security and productivity [5][3] - 38% of manufacturers intend to utilize data from current sources to enhance protection against cyber threats [7] - 48% of cybersecurity professionals emphasize the importance of securing converging IT and OT architectures for positive outcomes in the next five years [7] Workforce and Skills Development - More than half (53%) of respondents from companies with revenues of $30 billion or more consider cybersecurity practices and standards as critical skill sets [7] - The report highlights the need for aligning technical innovation with human development to address the skills gap in the manufacturing sector [4] Methodology - The report is based on feedback from 1,560 manufacturing leaders across 17 countries, covering various industries and company sizes, with revenues ranging from $100 million to over $30 billion [6]