Archive for the ‘Domain Investment’ Category

Breaking RSA Conference News: Damballa Discovers Advanced Evasion Techniques Being Used by Six Crimeware Families to …

ATLANTA--(BUSINESS WIRE)--

Damballa Inc., the company transforming the fight against cyber threats, today released results of its discovery of advanced stealth techniques used by six crimeware families to carry out global cyber attacks. The crimeware families are a new Zeus variant, Bamital, BankPatch, Bonnana, Expiro.Z and Shiz. The crimeware has been evading detection because cyber criminals are rapidly adopting domain generation algorithms (DGAs). This technique is being used to completely evade detection by blacklists, signature filters, and static reputation systems and to hide command-and-control (C&C) infrastructure. DGAs are also referred to as a form of Domain Fluxing.

An eight-page Damballa Research Report describes, for the first time, how six known malware families have been using DGAs to evade detection and grow sizable criminal networks. The oldest, BankPatch, has been using DGAs to evade detection for approximately two years. Without having to reverse engineer malware or 'decode' the DGA algorithm, Damballa Labs can now automatically detect and model DGA behavior by using patent-pending machine learning technology. The report is titled DGAs in the Hands of Cyber-Criminals - Examining the State of the Art in Malware Evasion Techniques.

The company also released a detailed analysis of a recent variant of the Zeus version 3 malware, and for the first time, provided details on its use of DGAs as a secondary connection technique when the primary connection attempt is blocked or fails (the primary connection technique being peer-to-peer). The case study is titled DGAs and Cyber-Criminals – A Case Study.

“While DGAs are not new, the rate at which they are being adopted and their ability to elude the scrutiny of some of the most advanced malware analysis professionals should be of great concern to incident response professionals,” stated Gunter Ollmann, vice president of research for Damballa. “We have found that the security community as a whole has insufficiently or only partially analyzed the network behaviors of DGA-capable malware. For one, some advanced malware is using DGA as a secondary connection technique when the primary technique, let’s say peer-to-peer, has failed. Those charged with protecting the enterprise that have detected or blocked the obvious primary connection technique have failed to counter the back-up technique, and the malware can then successfully locate the C&C using DGAs.”

DGAs first made major news with the outbreak of Conficker. Since that time, the DGA techniques have significantly advanced and are now being adopted by some of the more stealthy threats and by criminals desperately seeking to avoid attribution.

The concept of DGAs is simple enough, but incredibly stealthy. Malware that has infected an endpoint device is programmed with an algorithm that uses a ‘seed’ value, like the current date, to generate potentially hundreds of seemingly random domain names that all attempt to resolve to an IP address. Nearly all of the domain names will result in a ‘non-existent’ domain message (NXDomain). Only one or a few will actually resolve to an IP address. The criminal operator, knowing the nature of the algorithm and the seed that will be used that day, will register only one (or a few) of the domains and have them resolve to his C&C infrastructure. The next day the cycle repeats. The domains used for the previous day’s connection are discarded, meaning the domain names are ‘thrown away,’ and even if detected, would be meaningless in stopping the threat or discovering the criminal C&C.

“With the leak of the Zeus source code and expanding investment by criminal operators to hide and protect their C&C infrastructure, we should expect to see more DGA-based malware being used to deliver ever-increasingly stealthy attacks,” said Ollmann. “At Damballa Labs we have been studying this trend and have two patent-pending machine learning technologies specifically designed to identify DGA-based threats by clustering NXDomains from big data that we maintain from years of monitoring global DNS traffic. We can identify these threats without prior interception or knowledge of malware samples, and as described in the case study, map this DGA-based behavior back to the C&C infrastructure and ultimately to the malware family. DGA ‘classifiers’ are then used on the Damballa Failsafe sensors to automatically and rapidly identify DGA-based malware infected devices in customer networks – attributing the behavior to a specific malware family without having to see the malware or the infection occur. Damballa is the only company with this capability today. I am very proud of what the research team at Damballa Labs has been able to accomplish.”

About Damballa

Damballa is a pioneer in the fight against cybercrime. Damballa provides the only network security solution that detects the remote control communication that criminals use to breach networks to steal corporate data and intellectual property, and conduct espionage or other fraudulent transactions. Patent-pending solutions from Damballa protect networks with any type of server or endpoint device including PCs, Macs, Unix, smartphones, mobile and embedded systems. Damballa customers include mid-size and large enterprises that represent every major market, telecommunications and Internet service providers, universities, and government agencies. Privately held, Damballa is headquartered in Atlanta. http://www.damballa.com

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Breaking RSA Conference News: Damballa Discovers Advanced Evasion Techniques Being Used by Six Crimeware Families to ...

Rule Financial Ramps up Global Operations to Support International Growth

LONDON, February 27, 2012 /PRNewswire/ --

Rule Financial, (http://www.rulefinancial.com), an independent provider of business consultancy, IT consultancy and IT services to the global investment banking community, today announces an increase in sales and a raft of senior hires to support its growing business. Rule Financial has strengthened its presence in New York, made a number of senior hires in London and expanded its presence in ?ód?, Poland, illustrating the increased demand for Rule Financial's onshore and nearshore services.

Rule Financial has experienced year-on-year growth with 2011 revenue coming in ahead of target and the company growing its footprint within nine of the top ten global investment banks. In the current market conditions, this growth reflects the requirements of capital market participants for specialist domain knowledge, particularly in regard to new regulation, such as Dodd-Frank, Basel III and the ICB ring-fencing proposals.

The company's offices in New York and Poland have grown considerably with the number of employees more than doubling over the past 12 months. In ?ód?, specifically, Rule Financial has attracted a highly skilled and enthusiastic new workforce from the city's leading universities, fuelling growth in a nearshore development and support service that is proving to be highly attractive for its banking clients.

As part of the enhanced team in New York, Ciaran Henry joins Rule Financial, bringing his extensive experience of capital markets and applying these skills to a range of new clients. Ciaran, who reports into CEO Chris Potts, has over 25 years of experience in capital markets technology, gained at some of the world's leading investment banks; previously holding MD positions in the technology organisations of Merrill Lynch, JP Morgan Chase, and Credit Suisse.

Regarding his appointment, Ciaran said: "Rule Financial has an industry-wide reputation for innovation and excellent project delivery and I'm delighted to be part of its expansion in the US market. The rapidly changing regulatory environment in the United States, fuelled by the ever evolving Dodd-Frank and the Volcker Rule, is creating significant challenges for global investment banking. As we support our clients in meeting these complex regulations, I anticipate further growth of the New York team."

In London, Rule Financial continues to reinforce its domain strength and has appointed Jim Warburton as global head of the investment banking domain group, which will lead the development of client-focussed propositions. Jim has gained extensive banking experience from working in roles such as Senior Vice President at Citigroup and Director at Credit Suisse, as well as providing consultancy for many other financial organisations. Jim brings expertise in securities processing, covering Settlement, Clearing and Corporate Actions, on the sellside, buyside and within private banking.

Regarding his appointment, Jim said: "Investment banks around the world rely on Rule Financial for support with projects in core areas such as OTC derivatives clearing, collateral management and optimisation, as well as multi-platform UX design and build for eTrading and risk reporting. We have also witnessed a growing demand for application support and managed services that deliver cost savings and business efficiencies. I am keen to provide innovative new propositions that genuinely help our clients accelerate change and reap the benefits of leading business and IT innovation."

Reporting to Jim is new hire Jeremy Taylor, a specialist in operational processing and derivatives. Jeremy will be leading the delivery of Rule Financial's client offerings in the OTC derivatives area and related regulatory reforms.

Chris Potts, CEO, Rule Financial, said: "Growing the business in 2011 was a tremendous achievement for Rule Financial and a testament to the high quality work our specialists are performing within banks. Our consultants are the foundation of our business and we recruit and develop domain experts who truly innovate to solve the needs of the world's leading banks. We fully intend to develop these capabilities in 2012 with more investment in our domain experts and delivery teams, to offer world-class support to our growing client base."

About Rule Financial

Rule Financial is a leading independent provider of business and IT services, employing over 350 people in the UK, the USA, Spain and Poland. Our specialists work alongside their counterparts at the world's leading investment banks, hedge funds and financial institutions, helping to lower costs, improve productivity and extract the maximum value from IT investments.

We cover all aspects of advisory, execution and support services. Our domain specialisms include: Securities Finance, Prime Services, Risk Management, Trading, Legal & Compliance and Operations. Our delivery specialisms include: advisory and execution services in system development, user-centric design, software development, integration, testing, on-going support and IT outsourcing.

We offer our clients end-to-end solutions that solve their complex business and IT issues. Our specialists have a deep understanding of the increasing regulatory pressures faced by financial institutions and a number of our recent engagements have included strategic consultancy around OTC derivatives regulation and the implications of central clearing on integrated systems and collateral management.

 

web: http://www.rulefinancial.com

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Rule Financial Ramps up Global Operations to Support International Growth

Social Entertainment Leader Milyoni Secures $11 Million in Funding

PLEASANTON, CA--(Marketwire -02/24/12)- Milyoni, the leader in social entertainment, today announced that it has secured $11 million in Series B financing led by Oak Investment Partners. Previous investors ATA Ventures and Thomvest Ventures also participated in the round. Milyoni will use the funding to further extend its product portfolio in bringing social entertainment experiences to fans on Facebook. The company will also expand its U.S. presence, with offices opening in Los Angeles and New York City.

"With more than 800 million users and growing, Facebook has established itself as a go-to platform for the discovery and consumption of content today," said John Corpus, founder and CEO. "In 2012, we anticipate an even greater shift in behavior, with more entertainment companies putting the marketing muscle behind their Facebook presence to further expand their selections of movies, music and other content on the platform. The way we see it, we're only in the first of a nine inning game."

Milyoni provides a new way for entertainment companies to take their Facebook presence to the next level by providing a fun, unique, shared and social experience to users. Using Social Cinema and Social Live, fans can easily view, like and comment during particular points within a movie, TV show, sporting event or concert and chat with friends while watching. Over the last year, Milyoni has powered some of the biggest social entertainment campaigns on Facebook and has stamped a number of innovative firsts, including the first PPV movie on Facebook, the first live PPV concert on Facebook, the first socially interactive movie and the first day-and-date movie release on Facebook.

"Oak Investment Partners is excited to join the Milyoni team to further extend their stronghold in the social entertainment arena," said Fred Harman, Managing Partner at Oak Investment Partners. "The company has shown tremendous traction and growth over the last year, hosting more than 100 titles on Facebook today. The audience for Milyoni's technology continues to expand along with Facebook's growth. We're confident that the Milyoni team has both the passion and experience to propel the company forward."

"We've believed in Milyoni from the beginning and have seen the company's growth mirror that of the entertainment industry's needs," said Hatch Graham, Managing Director, ATA Ventures. "Milyoni's technology has evolved into the powerhouse social entertainment platform it is today, and the company is poised to continue its leadership in the space. ATA Ventures is thrilled to be a supporting partner."

Milyoni is primed for an impressive 2012 with 15 current studio partnerships and dozens more in the pipeline. The company has more than 3,000 Social Cinema titles and over 50 Social Live events slated by year's end. Milyoni will continue to enrich studio interaction, administration and analytics functionality bringing unprecedented insight and engagement to the entertainment experience.

For more information, visit http://www.milyoni.com.

About Milyoni
Based in the San Francisco Bay Area, Milyoni, Inc. is the leader in social entertainment. The company's technology provides entertainment companies with a way to connect and engage with Facebook fans, and turn them into customers. Whether it's watching a live concert, movie or sporting event or shopping your favorite brands, Milyoni enables companies to monetize fans pages through a unique level of engagement and a shared, social experience. Milyoni's services reach over 150 million fans from industry leading customers, including Universal Pictures, Lionsgate, Paramount Studios, Big Air Studios, Austin City Limits Live, Turner Broadcasting, University of Oklahoma and The NBA to bring a variety of digital content and physical goods to fans on Facebook. For more information, visit http://www.milyoni.com.

About Oak Investment Partners
Oak Investment Partners is a multistage venture capital firm and a lead investor in the next generation of enduring growth companies. Since 1978 the firm has invested $9 billion in nearly 500 companies around the world, earning the trust of entrepreneurs with a senior team that delivers steady guidance, deep domain expertise and a consistent investment philosophy. Its current portfolio includes Bleacher Report, Demand Media, Federated Media, Good Technology, KAYAK Software, MobiTV, Rearden Commerce, and Wonga. Oak Investment Partners is also known for its historical investments in aQuantive, Allyes, AthenaHealth, Gmarket, HuffingtonPost, Inktomi, Netspend, Polycom, Seagate, and TeleAtlas.

About ATA Ventures
ATA Ventures is a venture capital firm focused on seeking out early stage private companies that appear to offer above average prospects for capital growth. With over $450 Million of capital under management, ATA Ventures focuses on Information Technology (IT) and provides seed capital and early stages of financing to these companies. For more information, visit http://ataventures.com.

About Thomvest Ventures
Thomvest Ventures is an early-stage venture capital firm committed to the success of our entrepreneur partners. We primarily focus on investments in areas where we have deep expertise and experience, including software, technology-enabled services, and hardware businesses. The capital we invest is our own, enabling us to be more creative, flexible and patient than many venture investors. More than two-thirds of the companies we have funded in the last decade have either gone public, been acquired, or continue to grow as independent businesses. For more information, visit http://www.thomvest.com.

Facebook® is a registered trademark of Facebook Inc.

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Social Entertainment Leader Milyoni Secures $11 Million in Funding

Lake Havasu Todays News Herald

By FELICIA FONSECA
Associated Press
Today's News-Herald
Published Friday, February 24, 2012 11:00 PM MST

FLAGSTAFF — Attorneys for a Las Vegas developer argued Friday that his constitutional rights were violated when a northwestern Arizona tribe declared eminent domain over a management contract for the Grand Canyon Skywalk.

But attorneys for the Hualapai Tribe contend that federal court is not the proper venue for litigating the action taken by the Tribal Council earlier this month. They urged U.S. District Judge David Campbell in Phoenix to reject David Jin's request for a temporary restraining order and stay the case to allow Jin to pursue remedies in tribal court.

“This action is another attempt to convince this court to ignore the sovereignty of the tribe by enjoining its legislative and judicial authority over the exercise of its constitutional power of eminent domain,” the tribe's attorneys wrote in court documents.

Campbell did not immediately issue a ruling, instead taking the matter under advisement.

The two sides have been in a similar situation before. Nearly a year ago, Jin’s attorneys asked Campbell to keep the tribe from severing an agreement his company reached with the tribe's business arm in 2003 to build, manage and operate the Skywalk — a horseshoe-shaped glass bridge that juts out 70 feet from the Grand Canyon on the tribe's reservation.

Campbell dismissed the lawsuit without addressing Jin's claims, saying the businessman could return to federal court only after exhausting remedies in the Hualapai court in Peach Springs.

An action Jin brought in tribal court to force arbitration also was dismissed with the judge's ruling that she did not have jurisdiction over the case because tribal officials named as defendants did not waive sovereign immunity.

The dispute stems from allegations by Jin that the tribe hasn't paid him what he's owed for his investment in the Skywalk. The tribe said it ultimately cut his company, Grand Canyon Skywalk Development, out of overseeing the popular tourist attraction because Jin failed to complete a visitor center and hasn’t accounted for funding.

The tribe’s eminent domain ordinance gives its business arm 180 days to provide $11 million in compensation to Jin, a figure the tribe said came from an independent appraisal, but extensions can be granted by a tribal court if good cause is shown. Jin contends just compensation would be closer to $100 million.

His attorneys argued Friday that the contract doesn't grant the tribe civil jurisdiction over a non-Native "who never expressly consented to the tribe's exercise of civil jurisdiction," and that constitutional issues should be addressed in federal court. Jin's attorneys say they believe tribal remedies already have been exhausted.

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Lake Havasu Todays News Herald

B5M Lands $7.1M. Series A Led by Oak Investment Partners and Giosis Holdings

More Topics: Choose a Sector Accounting Firms Advertising/Media/Communications Capital CEO/Board General Business Health/Biotech Internet/Technology Investment Firms Law Firms Mergers & Acquisitions Money Managers People Private Companies Public Companies Venture Capital

Posted February 24, 2012

Investment will be Used for B5M Website Development, Marketing and Ongoing Innovation

SHANGHAI & GREENWICH, Conn.--(BUSINESS WIRE)--B5M, a next-generation social shopping search engine in China, today announced a $7.1 million Series A investment round led by Oak Investment Partners and Giosis Holdings. B5M will use the funds for website development, marketing and ongoing innovation. Allan Kwan, an industry veteran who led Yahoo! search in Asia Pacific, and Youngbae Ku, a successful entrepreneur who founded GMarket, which was acquired by eBay, will join B5M's board of directors representing Oak Investment Partners and Giosis Holdings, respectively.

B5M, which means "help me buy" in Chinese, is designed to help Chinese consumers make informed purchasing decisions. It combines product and shopping data with community features to promote social shopping decisions with comprehensive, accurate, and unbiased search results. Over the past four years the company assembled a local team in China and launched a beta site that has indexed over 30 million business-to-consumer products, product reviews, and shopping-related web articles. The company was founded by Yeogirl Yun, a serial entrepreneur who founded mySimon.com, Wisenut.com, and Become.com, which are general search or comparison shopping engines in the U.S., Japan, and Republic of Korea.

"We have set out to build state-of-the-art search and data mining technologies to give Chinese consumers the power to choose the best new or used product or group-buying deal from over 200 business-to-consumer websites and 100 group-buying sites," said Yeogirl Yun, founder and CEO of B5M. "With this new capital and on-the-ground support from Allan and Youngbae, we can take B5M to the next level to provide unparalleled quality of service and user experience."

"Seldom do we have the unique opportunity to partner with two successful entrepreneurs. We are delighted to work with serial-entrepreneur Yeogirl Yun and to co-invest with Young Bae Ku, formerly the CEO and founder of GMarket, an early e-commerce leader and Oak portfolio company," said Ifty Ahmed, a general partner for Oak Investment Partners who specializes in the internet and new media sector. "The Chinese e-commerce market poses unique opportunities and challenges. The collaboration between Giosis and B5M, backed by the experience of these two entrepreneurs and steady guidance of our China-based advisor, Allan Kwan, will be instrumental in creating a powerful player in the fastest growing e-commerce market in the world."

About B5M

B5M, founded in 2007, is the most comprehensive, accurate, and unbiased Chinese social shopping search engine with tens of millions of business-to-consumer products, product and merchant reviews, group-buy deals, used products, and shopping-related web articles with innovative shopping community features to help Chinese consumers make informed purchasing decisions. B5M, headquartered in Shanghai, is a technology-driven company that also provides e-commerce search and recommendation engines to e-commerce sites for better user experience and higher conversions, and syndicates its social shopping search engine to third-party websites for strong traffic monetization.

About Oak Investment Partners

Oak Investment Partners is a multistage venture capital firm and a lead investor in the next generation of enduring growth companies. Since 1978 the firm has invested $9 billion in nearly 500 companies around the world, earning the trust of entrepreneurs with a senior team that delivers steady guidance, deep domain expertise and a consistent investment philosophy. Its current portfolio includes Chamate, Demand Media (NYSE: DMD), Giosis Gmarket, KAYAK Software, Lianlian Pay and Wonga. Oak Investment Partners is also known for its historical investments in aQuantive, Allyes Information Technology, AthenaHealth, Digital Media Group, HuffingtonPost, Inktomi and TeleAtlas.

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B5M Lands $7.1M. Series A Led by Oak Investment Partners and Giosis Holdings