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Earth Intelligence

25 Dec 2023 — 4 min read

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Dark Web Bust
Blaize AI Merger

Dark Web Bust:

The ALPHV (BlackCat) ransomware gang's dark web leak site has been taken down by an international coalition of law enforcement agencies. This coalition, led by the FBI, included authorities from the UK, Denmark, Germany, Spain, and Australia. The U.S. Department of Justice confirmed this coordinated action, which resulted in the seizure of several key websites operated by ALPHV. Additionally, the FBI provided a decryption tool that helped over 500 victims of ALPHV ransomware attacks, saving them from paying an estimated total of $68 million in ransoms.
ALPHV is known for targeting crucial infrastructure in the United States, affecting sectors such as government, healthcare, and emergency services. The group has compromised the networks of more than 1,000 victims globally, demanding hundreds of millions of dollars. The successful infiltration of ALPHV's operations was partly due to the FBI's engagement with a confidential informant close to the ransomware gang. The U.S. State Department has offered rewards for information about BlackCat's activities and affiliates.
Deputy Attorney General Lisa Monaco emphasized the importance of this operation in the broader strategy against cybercrime, highlighting the role of the Justice Department in disrupting hacker groups and aiding victims. The operation against ALPHV, which is believed to be connected to the defunct REvil group, is a significant achievement in the ongoing battle against global cyber threats. This collaboration among international law enforcement agencies demonstrates a unified front against the increasing threat of cybercrime.

Blaize AI Merger:

Blaize, an artificial intelligence company specializing in AI-powered computing solutions, is set to become a public entity through a merger with BurTech Acquisition Corp, a special-purpose acquisition company. The merger will create a new entity, Blaize Holdings, valued at an enterprise value of approximately $894 million.
The company, which operates in sectors such as automotive, mobility, retail, security, industrial automation, and healthcare, announced that the merger would bring in minimum proceeds of $71 million before expenses. This includes $46 million from BurTech's trust account and a $25 million contribution from Burkhan Capital, an affiliate of BurTech.
Blaize plans to use these funds to enhance its product development and capitalize on new business opportunities. Previously, Blaize has raised a total of $224 million, with significant investments from notable strategic partners including Mercedes Benz, Magna, and Samsung. The merger is anticipated to be finalized in the second quarter of 2024, marking a new phase for Blaize as it transitions into a publicly traded company under the name Blaize Holdings.

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