Cyberport and the Consumer Council have been hacked and blackmailed, resulting in the leakage of personal data, some industry players believe that the incident is only the tip of the iceberg, I believe that more organizations are facing the same crisis, it is recommended that the Consumer Council as soon as possible to find out how many people have been victimized and notify as soon as possible in order to raise the vigilance of the government departments should also be more testing of network security systems. Mr. Yau Tat-kan, Legislative Council Member for Technology and Innovation, pointed out that hacking will definitely be a problem in the future, and suggested that the government should subsidize small and medium-sized enterprises (SMEs) to strengthen their network security systems, and at the same time, step up public education.
Legislative Council Member for Technology and Innovation, Mr. Yau Tat-kan, pointed out that according to the current global trend, hackers will only increase, coupled with electronic fraud, Internet fraud, there are already many international larger hacker groups or organizations have taken shape, Eastern Europe or African countries have a large number of hackers through SMS, e-mail, steal data to the victims of extortion.
Yau Tat-kan continued to point out that the tools used by hackers are constantly changing, "advanced" very quickly, only the use of traditional anti-virus software can not catch up with the speed; because most of the headquarters is not in Hong Kong, "is the international community, in fact, you are not in Hong Kong can do some of the so and so". He said that Hong Kong's average standard of living is higher, and local companies are financially better off, so they are bound to be a "hot spot" for attacks, and hacking is bound to be a problem that we will face in the future, "If you have new technology, you will also have new hackers.
He said that Hong Kong's SMEs do not have much manpower or resources to specialize in cybersecurity, and the government should consider subsidizing them, while large enterprises should raise their awareness through case studies: "Everyone has the chance to become a victim.
Mr. Yau said that at present, the Office of the Privacy Commissioner for Personal Data does not regulate the problem of data leakage caused by hackers. He opined that the Government can enact legislation, such as the Network Security Law and the Data Security Law already existing in the Mainland, to require enterprises to carry out specified network security work, such as encryption, deletion of data after a specified period of time, and testing, etc. Otherwise, it will be an offence. In addition, he pointed out that it was equally important to step up public education, and the public should be informed of any new tactics as soon as possible.
Mr. Fong Po Kiu, Honorary President of Hong Kong Information Technology Federation (HKITF), pointed out that the network security system of public organizations is not bad, and described the hacking as a "war of attack and defense", "you know that without upgrading, the hackers will continue to find different loopholes". He emphasized that staff awareness of network security needs to be raised continuously, otherwise, if they accidentally open the wrong accessory, they will lose their jobs: "It's like when you open the door of your house, there are two locks, three locks, five locks, so it's a good deal of cleanliness. How many locks do you need to open the door? How many locks are needed to open the door? It's easy to open the door from ......."
"No company will tell you that my network is watertight, not even Google or Microsoft will dare to tell you that." Mr. Fong said that after the Cyberport incident, all government departments should frequently verify the security of their data and upgrade their network security systems.
He also said that he did not agree that the affected organizations should compromise with the hackers, and that public organizations would definitely report to the police if they were blackmailed, and that it was their responsibility to notify the victims if they were eventually "ripped off". In his view, the most important thing now is to find out the scope of the victims as soon as possible and notify them so that they can be more vigilant, because once personal data is leaked, it will be difficult to remedy the situation.
Hong Kong's Web3 industry has been developing at a rapid pace. Cyberport, as a wholly-owned enterprise of the Hong Kong government and a policy enforcer, has been instrumental in promoting the development of the Web3 ecosystem in Hong Kong. Since the announcement of Hong Kong's Virtual Asset Development Declaration in October last year, the industry has grown rapidly.
Standard Chartered Hong Kong and Giesecke+Devrient have recently completed trials for the HKMA's Digital Hong Kong Dollar Pilot Program. These tests and experiential activities covered a range of application scenarios, including public transportation, restaurants, small businesses and university campuses.
The Hong Kong Ballet announced today (16th) that its computer network system has been hacked by ransomware, resulting in unauthorized access to its internal computer system. HKB has immediately conducted an internal investigation, hired a network security expert to assess the situation, and reported to the police and the Office of the Privacy Commissioner for Personal Data.
The first phase of the trial is open to some of the world's leading banks and financial institutions. The trial is designed to test the feasibility of using digital currency in a variety of ways. The second phase will be open to anyone who wants to take part in the trial. The third stage will be for those who want to participate in the digital currency trial.
Cyberport was hacked in mid-August, involving the theft of up to 400GB of staff data. According to the hacker's latest website, the information has been "leaked" and can be downloaded for free from the dark web. A computer security researcher criticized the Cyberport for its poor security awareness.
Cyberport is suspected to have lost more than 400 gigabytes of personal data to a hacking group last month. The data included personal names and contact details, information on employees, former employees and job applicants, and a small amount of credit card information. Cyberport said it had contacted the potentially affected individuals directly and would provide them with free identity monitoring services by professional security consultants.
Hong Kong will allow individual retail investors to trade cryptocurrencies, including Bitcoin and Ethereum, starting from June. This move signifies an important step by the Hong Kong government towards opening up cryptocurrency trading and embracing innovation in the Web3 space. Additionally, the Hong Kong Monetary Authority has launched a pilot program for a digital Hong Kong dollar. While the underlying technology of virtual assets can address the issue of trustless automated transactions, the risks associated with them cannot be ignored, making them unsuitable as widely used payment tools or for expanding financial inclusion. Therefore, the 'digital Hong Kong dollar', backed by strong endorsement, has now garnered public attention as it will serve as a backbone linking fiat currency and virtual assets, providing necessary digital financial infrastructure for the development of Hong Kong's Web3 ecosystem and digital economy.
The Hong Kong Monetary Authority (HKMA) has launched a pilot plan for the digital Hong Kong dollar, and Standard Chartered Bank has become one of the participating banks. Due to geographical limitations, many loyalty reward programs currently face technical, regulatory, and tax complexities in cross-border transactions. Lin Yuandong, the Chief Executive Officer of Standard Chartered Greater Bay Area, stated that the central bank's digital currency (CBDC) would have significant importance in creating seamless and innovative cross-border digital economic capabilities within the Guangdong-Hong Kong-Macao Greater Bay Area.
Charles Li, the former Chief Executive of Hong Kong Exchanges and Clearing Limited (HKEX), has passed away at the age of 76. He made significant contributions to the development of Hong Kong's financial and securities industry. Zhang Huafeng, former member of the Legislative Council representing the financial services sector, expressed that his death is a loss to Hong Kong's financial industry and expressed eternal remembrance for him.
The Hong Kong Monetary Authority (HKMA) has officially launched the Digital Hong Kong Dollar Pilot Project, with 16 companies selected to participate in testing across six major application scenarios. The Digital Hong Kong Dollar will serve as a bridge between traditional currency and virtual assets, primarily used for settlement of tokenized assets and international cross-border trade payments. It is expected to reduce intermediaries and transaction costs in cross-border payments.
The Hong Kong Housing Society and Cyberport held an inauguration ceremony yesterday at the new office, "Housing Society Centre," announcing the establishment of the first-ever shared workspace for property technology (PropTech) in Hong Kong. The shared workspace, named Smart-Space PropTech, is located in the northern metropolitan area and has already accommodated 13 start-ups since July. These start-ups will develop innovative PropTech products and solutions and conduct concept verification and testing. This project marks the first initiative in the northern metropolitan area concerning the development of property technology.
"TechWave Web3.0 Summit" is an event organized by Huawei Cloud and co-organized by Hong Kong Cyberport, Hong Kong Web3.0 Association, and Techub News. The event was successfully held at Hong Kong Cyberport. During the event, Huawei officially announced the Web3.0 Node Engine Service (NES) and Enclave Secure Computing, both blockchain services. Huawei Cloud also launched a Web3.0 Zone on its app store, with the initial batch of dozens of partner applications being featured. The event featured guest speeches from Mr. Peter Yan, CEO of Hong Kong Cyberport, Mr. Wang Yang, Vice President of Hong Kong University of Science and Technology, and Mr. Gao Jianghai, General Manager of Public Cloud Business, Huawei Cloud. Additionally, hundreds of representatives from global Web3.0-related companies, professionals, and industry leaders participated in the event to discuss topics such as Web3.0 industry development, infrastructure, application compliance, and the integration of data and reality.