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New Tech Clears Space Junk, Improves Satellite Propulsion

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strongSatellite over the coast. By the end of the decade, 14,000 new satellites are anticipated to be launched in addition to the thousands of satellites that are already in orbit around the Earth. UNSPLASH/strong



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Space is getting crowded.


In addition to the thousands of satellites already orbiting Earth, about 14,000 new satellites are expected to be launched by the end of the decade.

That translates into about 9,000 tons of space debris, says Igal Kronhaus, Technion professor-turned-space-tech startup entrepreneur.

It’s gotten so bad that the United States issued new regulations in 2022 that “won’t allow the launch of a satellite unless it has a convincing capability to move out of the way after five years from the end of the mission,” Kronhaus says.

Dr. Igal Kronhaus, cofounder of Space Plasmatics. Photo courtesy of Space Plasmatics

Kronhaus started his company, Space Plasmatics, in 2021 to address the space junk problem while also improving satellite propulsion in general.

Space Plasmatics is developing plasma thrusters designed to navigate satellites to a different orbit or even back to Earth, using ionized gas in an electric field rather than the traditional propulsion method of chemical reactions.

The thrusters get their power from solar cells that are already mounted on the satellites. Solar-powered electric propulsion is now used in almost every satellite. High-powered versions could even propel manned spacecraft for missions to the Moon and Mars.

Electric propulsion was originally conceived in the 1950s as a way to get people to Mars – long before Elon Musk popularized the concept for the 21st century.

“Back then, there were no envisioned applications, other than human space travel,” Kronhaus tells ISRAEL21c.

Now, with satellites handling everything from GPS navigation to cell phone communication to spying on enemy nations, the use case has arrived.

Satellite over the coast. By the end of the decade, 14,000 new satellites are anticipated to be launched in addition to the thousands of satellites that are already in orbit around the Earth. UNSPLASH

Space hardware

Kronhaus was an assistant professor of aerospace engineering at the Technion for seven years. The technology for Space Plasmatics, he says, has been “incubating in my lab for the past decade.”

“It’s very unusual for a professor to start a company,” Kronhaus says. “I’m paving a unique path here.”

Space Plasmatics cofounder Andrew Pearlman. Photo courtesy of Space Plasmatics

Space Plasmatics cofounder Andrew Pearlman is a serial entrepreneur who has raised more than $150 million for 10 Israeli companies since his arrival here from the United States in 1981. He describes his role in Space Plasmatics as Kronhaus’s “coach, copilot and righthand man.”

“We’re exclusively space hardware,” Kronhaus says. “We can’t re-use our engines in cars or planes. We’re making a real, physical product, not just writing code. That makes it more difficult to convince investors to come in.”

But some have.

Israel Aerospace Industries (IAI) took an interest in Space Plasmatics and invited the company to participate in the Astra incubator, co-run by the accelerator Starburst and IAI. The Israel Innovation Authority has also helped fund Kronhaus’s vision.

The Knesset last year pledged to invest the shekel equivalent of $180 million in the civilian space industry over the next five years. Start-Up Nation Central estimates the worldwide space economy is worth $400 billion.

Larger satellites

In June, Kronhaus signed a deal to develop its plasma thrusters for IAI’s satellites. This deal points to a shift in the industry.

For much of the past decade, tiny nanosatellites (CubeSats), just a few tens of kilograms in weight, were assumed to be the future of the industry.

Israel excelled at these small satellites.

“It’s no secret that we can’t launch over neighboring Arab states. And we don’t build huge rockets. So, we build smaller rockets with a smaller payload that are launched in the wrong direction!” Kronhaus says.

That “wrong direction” requires more fuel, “so we have to reduce the payload we’re carrying even further.”

But now, the main market seems to be in bigger satellites that weigh several hundred kilograms, Kronhaus says. It makes economic sense – bigger satellites carry bigger payloads, which results in faster ROI.

Larger satellites are also what IAI specializes in.

The IAI arrangement is positioned as a trial to see if Space Plasmatics can scale up to IAI’s needs. Kronhaus is convinced they can and that IAI will become a paying customer.

How it works

For any rocket scientists reading this, here are a few technical details.

Kronhaus’s plasma thrusters are essentially a better version of a Hall thruster, a model developed in the former Soviet Union in the 1960s.

The thruster does need some fuel but uses nonflammable, noncombustible gases such as xenon and krypton.

“The inert gas is in the propellant tank on the satellite,” Kronhaus says. “The Hall thruster feeds a certain amount of it to the engine at a constant rate. The electric field gives the gas the energy to ionize. There’s a nice blue plasma flame as the ions are accelerated. This acceleration is what produces thrust.”

Space Plasmatics’ microHET thruster prototype. Photo courtesy of Space Plasmatics

Kronhaus says that Space Plasmatics’ tech also reduces the weight of the satellite, because normally it’s the fuel tank that contributes the most weight to the device.

Hall thrusters, however, are not for every space application. Landing on the Moon or shooting missiles require the higher power of chemical propulsion.

Space Plasmatics is still developing its thrusters. Assuming the company continues with IAI and/or raises more money, Kronhaus and Pearlman say a full working version of the company’s product should be ready by Q2 2025.

Satellite over the coast. By the end of the decade, 14,000 new satellites are anticipated to be launched in addition to the thousands of satellites that are already in orbit around the Earth. UNSPLASH

Competition

Space Plasmatics has plenty of competitors: Austria-based Enpulsion; Thrustme and Exotrail from France; Astra and Rafael from Israel.

However, Kronhaus is banking on Space Plasmatics’ high thrust and high fuel economy. “We improve the performance of a Hall engine at low power,” he says.

It doesn’t hurt that Kronhaus has a PhD in electric propulsion and is considered an expert in the field – in Israel and beyond.

Will Kronhaus’s technology and Pearlman’s business savvy be enough for this four-person company in Haifa to make a dent in the space-tech space? We’ll be watching.

Produced in association with ISRAEL21c



What Amazon Investors Are Watching For When E-Commerce Giant Reports

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strongIn this photo illustration, the Amazon logo is displayed on the screen of a smartphone. After the closing bell, Amazon is scheduled to release its second-quarter earnings report. Given the artificial intelligence (AI) surge this year, investors and analysts are paying close attention to the company's AI initiatives. Here are the essential details. SHELDON COOPER/SOPAIMAGES/LIGHTROCKET/GETTY IMAGES/strong



By AJ Fabino

Amazon is set to issue its second-quarter earnings print after the closing bell. Investors and analysts are focusing on the company’s efforts in artificial intelligence (AI) in light of this year’s AI boom. Here’s what you need to know.


By The Numbers: The Seattle, Washington-based company is expected to issue earnings of 35 cents per share on revenues of $131.49 billion, a jump on a year-over-year basis from a 20-cent-per-share loss on revenues of $121.23 billion.

Wedbush analyst Michael Pachter said the stock’s upside potential is limited, even with a solid second quarter beat. According to Pachter, Amazon is well-positioned to benefit from an uptick in both consumer confidence and corporate spending, but his expectations for further share price appreciation are reserved.

In this photo illustration, the Amazon logo is displayed on the screen of a smartphone. After the closing bell, Amazon is scheduled to release its second-quarter earnings report. Given the artificial intelligence (AI) surge this year, investors and analysts are paying close attention to the company’s AI initiatives. Here are the essential details. SHELDON COOPER/SOPAIMAGES/LIGHTROCKET/GETTY IMAGES

Several factors, including Amazon Web Services (AWS), will come under close scrutiny after the print.

AWS’ growth rate — which contributed nearly 16% to total revenue last quarter — slowed down from 36.5% in the second quarter of 2022 to 15.8% in the first quarter of 2023.

Amazon’s AI initiatives are another key focus area, as the company made several generative AI announcements at an AWS event in New York last week, including new and updated pre-trained large language models to power AI applications.

Monness analyst Brian White said he expects Amazon to deliver a 9% year-over-year increase in sales and beat Street estimates in the second quarter. White is optimistic about the stock, expecting the company’s bottom line to beat analysts’ consensus estimates at 41 cents per share.

In this photo illustration, the Amazon logo is displayed on the screen of a smartphone. After the closing bell, Amazon is scheduled to release its second-quarter earnings report. Given the artificial intelligence (AI) surge this year, investors and analysts are paying close attention to the company’s AI initiatives. Here are the essential details. SHELDON COOPER/SOPAIMAGES/LIGHTROCKET/GETTY IMAGES

AMZN Price action: Shares of Amazon are trading 2.29% lower to $128.68.

Produced in association with Benzinga



Is Apple Stock’s Risk-Reward Still Attractive After Q3 Earnings, Lighter IPhone Revenues? 

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Apple, Inc. (NASDAQ:a href=https://www.Zenger News.com/stock/AAPL#NASDAQAAPL/a)’s third-quarter results Thursday failed to impress Wall Street, and the stock promptly reacted with a a href=https://www.Zenger News.com/analyst-ratings/analyst-color/23/08/33561621/apple-q3-sneaks-past-estimates-on-services-strength-but-stock-drops-as-iphone-ipad-move to the downside/a. Here’s what the Street has to say. PHOTO BY ANDY WANG/UNSPLASH



By Shanthi Rexaline

Apple, Inc. (NASDAQ:AAPL)’s third-quarter results Thursday failed to impress Wall Street, and the stock promptly reacted with a move to the downside. Here’s what the Street has to say.


Reduce Overweight Positions, Says Bernstein: Apple’s full-year revenue guidance of 7% growth appears high, says Bernstein’s Sacconaghi, as he sees the iPhone 15 as more evolutionary rather than revolutionary.

The analyst expects the softer uncertain macro and consumer environment to hurt Apple. The company also faces a 53-week comparison, he added.

“We view near-term risk-reward on AAPL as relatively balanced; Investors may want to look reduce overweight positions, beginning in September,” Sacconaghi said. The analyst based on his recommendation on seasonal trading pattern and the stock’s stretched valuation.

The third-quarter earnings outperformance was due to lower-than-expected operating expenses and a lower tax rate, the analyst said.

Credit Suisse’s 3 Key Takeaways:  Following Services business outperformance, fueled by record performances for four categories and quarterly records for three categories, Credit Suisse’s Cross said she sees further acceleration ahead. As the ad market continues its recovery and the company laps tough App Store comps, the business will likely accelerate, thanks to a record installed base of active devices, she said,.

The analyst also pointed to strong gross margin guidance of 44%-45% for the fourth quarter, as the company benefits from favorable commodity costs, a growing mix of Services, scaling up of newer businesses and timing of product releases.

Apple, Inc. (NASDAQ:AAPL)’s third-quarter results Thursday failed to impress Wall Street, and the stock promptly reacted with a move to the downside. Here’s what the Street has to say. PHOTO BY ANDY WANG/UNSPLASH 

Emerging markets have been a bright spot for Apple for its hardware sales, with particularly strong performance in India, Indonesia, Southeast Asia, Latin America and the Middle East, Cross noted. The analyst does not see a margin hit from the higher mix of emerging market sales, as Apple mainly targets wealthy customers in these countries,

Apple’s Tim Cook said on the call the company is researching use cases for generative AI in its products, Martin noted. AI/ML is core fundamental technology integral to every product the company makes, she noted.

“Overall, this remains a golden installed base story as Apple further penetrates its unmatched ecosystem,” Ives said, adding that strong upgrade potential and higher ASPs set up Apple for a  “mini super cycle” despite the murky macro.

To sustain 5%-10% revenue growth over the next seven years, Apple needs new big markets and India is key on that count, Munster said. Longer term, the analyst expects India to surpass Greater China, which is estimated to account for about 20% of sales this year.

Munster also said investors are missing the potential of the Vision Pro mixed-reality device.

“I believe spatial computing will join mobile as our central daily computing platforms and by 2030 it will account for more than 10% of Apple’s overall business,” he said.

 

Produced in association with Benzinga



US Air Force’s AI-controlled Drone Completes First Long-haul Flight

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The XQ-58A Valkyrie AI-controlled drone taking off.The sortie demonstrated the first-ever flight of a href=https://www.afrl.af.mil/AFRL (Air Force Research Laboratory)/a -developed, machine-learning trained, artificial intelligence algorithms on an a href=https://www.defensenews.com/unmanned/2023/08/03/artificial-intelligence-flies-xq-58a-valkyrie-drone/XQ-58A Valkyrie/a. PHOTO BY USAF/SWNS 



By Dean Murray

The U.S. Air Force has successfully flown their “loyal wingman” stealth drone entirely under the control of artificial intelligence for three hours.


The sortie demonstrated the first-ever flight of AFRL (Air Force Research Laboratory) -developed, machine-learning trained, artificial intelligence algorithms on an XQ-58A Valkyrie.

The XQ-58 is designed to accomplish tasks such as scouting, defensive fire, or even absorbing enemy fire to keep human-piloted jets safe.

The flight, part of the so-called Skyborg program, took place at the Eglin Test and Training Complex in Florida on July 25, but was announced this week.

Col. Tucker Hamilton, chief, AI Test and Operations, for the Department of the Air Force, explained the Valkyrie had to solve a problem during the test.

He said: “The mission proved out a multi-layer safety framework on an AI/ML-flown uncrewed aircraft and demonstrated an AI/ML agent solving a tactically relevant “challenge problem” during airborne operations.

“This sortie officially enables the ability to develop AI/ML agents that will execute modern air-to-air and air-to-surface skills that are immediately transferrable to other autonomy programs.”

AI/ML refers to artificial intelligence (AI) and machine learning (ML).

The XQ-58A Valkyrie AI-controlled drone taking off.The sortie demonstrated the first-ever flight of AFRL (Air Force Research Laboratory) -developed, machine-learning trained, artificial intelligence algorithms on an XQ-58A Valkyrie. PHOTO BY USAF/SWNS 

The algorithms were developed by AFRL’s Autonomous Air Combat Operations team, who say the algorithms matured during millions of hours in high-fidelity simulation events, sorties on the X-62 VISTA (experimental aircraft), Hardware-in-the-Loop events with the XQ-58A, and ground test operations.

The U.S. Department of Defense (DOD) stated they are committed to the responsible employment of AI explaining: “To achieve responsible use of AI requires teaming of developers and users of AI enabled autonomy working in collaboration with acquisition specialists.”

“AI will be a critical element to future warfighting and the speed at which we’re going to have to understand the operational picture and make decisions,” said Brig. Gen. Scott Cain, AFRL commander. “AI, Autonomous Operations, and Human-Machine Teaming continue to evolve at an unprecedented pace and we need the coordinated efforts of our government, academia, and industry partners to keep pace.”

The Skyborg project is a United States Air Force Vanguard program developing unmanned combat aerial vehicles intended to accompany a manned fighter aircraft.

 

Produced in association with SWNS Talker



Apple’s Q3 Earnings Call: Can Tim Cook’s Commentary Turn The Market?

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Shares of Apple, Inc. were modestly lower in premarket trading on Thursday, inspired by the broader market negativity. CFOTO/GETTY IMAGES 



By Shanthi Rexaline

Shares of Apple, Inc. (NASDAQ:AAPL) were modestly lower in premarket trading on Thursday, inspired by the broader market negativity.


When Cook Talks, Everyone Listens: Cupertino’s fiscal year third-quarter results due after the market close and the management commentary on the earnings call have the potential to turn fortunes around, both for the stock and the broader market.

Shares of Apple, Inc. were modestly lower in premarket trading on Thursday, inspired by the broader market negativity. CFOTO/GETTY IMAGES  

Wedbush analyst Daniel Ives said in a Wednesday note, “The entire Street will be laser-focused on Apple’s quarter as when Cook talks everyone else listens given Apple’s unique perch and perspective around consumer demand globally.”

The statement cannot be ignored as a hyperbole. Apple does its business globally. Given Apple’s consumer-focused products such as the iPhone, iPad and Mac devices, the company’s performance could be considered a litmus test for the health of consumers, who fuel much of the economic activity.

More importantly, Apple is the heaviest-weighted stock in both the S&P 500 Index and the Nasdaq Composite Index, with weightings of 7.7% and 11.6%, respectively. The stock, therefore, has the potential to take these indices in the direction it goes.

China – Vital Cog: Most analysts model an in-line to slightly-better June quarter, premised on brisk iPhone upgrade activity, especially in the key China activity. 

Ives said, “We believe iPhone units based on a clear uptick in demand around the key China region this quarter could show some upside.” This is despite the choppy macro environment, he pointed out.

Morgan Stanley’s Erik Woodring said he would focus on revenue growth in the U.S. versus internationally, with an eye on China.

Among the other metrics, the analyst would be watching for are total revenue, Services revenue growth and gross margin. The analyst expects these three metrics to come in at $81.3 billion, 8.8% and 44.3%, respectively.

The Outlook: Ives shoots for conservative guidance for the September quarter. He sees it as “all about the drumroll to the main event with the anniversary iPhone 15 launch slated for the mid-September timeframe.”

Woodring also said he expects soft guidance, although expecting year-over-year growth, and an acceleration in Service revenue growth.

Apple Stock: After a dismal 2022, Apple stock has acquitted itself credibly. The shares of the most valued global company are up about 49% year-to-date.

JPMorgan’s Samik Chatterjee on Wednesday established a 2024 price target of $220 for the stock.

In premarket trading, the stock was down 0.39% at $191.83, according to the Zenger News Pro data.

Produced in association with Benzinga



U.S. Education Sec. Miguel Cardona, HBCU Leaders Meet in Birmingham

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U.S. Education Secretary Miguel Cardona, left, and Birmingham Mayor Randall Woodfin met with leaders from most of Alabama’s Historically Black Colleges and Universities (HBCU) at the Birmingham Civil Rights Institute on Thursday. (Ryan Michaels, The Birmingham Times)

By Ryan Michaels

The Birmingham Times

First-Ever MLB game at Historic Rickwood Field in Birmingham Now Has a Name

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From left: Mike Hill, Senior Vice President, On-Field Operations, Major League Baseball; Harold Reynolds – MLB Network Analyst; Emcee; Birmingham Mayor Randall Woodfin; Gerald Watkins – Friends of Rickwood (Pat Byington/Bham Now)

By PAT BYINGTON

bhamnow.com

Goldman Sachs: AI Investment Could Outpace Historical Milestones, Boost GDP By 2.5-4%

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In this photo illustration a Goldman Sachs logo is displayed on a smartphone with stock market percentages in the background. PHOTO BY OMAR MARWUES/GETTY IMAGES



By Murtuza Merchant

The surge in artificial intelligence (AI) investment could have a more profound effect on the U.S. gross domestic product (GDP) than historical milestones such as the invention of electricity or the emergence of personal computers.


That’s according to Goldman Sachs (NYSE: GS) eonomists Joseph Briggs and Devesh Kodnani. “Generative AI has enormous economic potential and could boost global labor productivity by more than 1 percentage point a year in the decade following widespread usage,” they wrote.

The report, cited by Coindesk, emphasized that for such a transformative shift to take place, businesses must commit to “significant upfront investment in physical, digital, and human capital to acquire and implement new technologies and reshape business processes.”

Global investments in this area could reach roughly $200 billion by 2025, and these investments are expected to precede the “adoption and efficiency gains start driving major gains in productivity,” as per the bank’s analysis.

In the long run, AI investment could account for between 2.5% and 4% of U.S. GDP, and between 1.5% and 2.5% of other AI-leading nations’ GDP.

The report noted, “Despite this extremely fast growth, the near-term GDP impact is likely to be fairly modest given that AI-related investment currently accounts for a very low share of U.S. and global GDP.”

INDIA – 2023/07/01: In this photo illustration, a Goldman Sachs logo is seen displayed on a smartphone. That’s according to Goldman Sachs (NYSE: GS) eonomists Joseph Briggs and Devesh Kodnani. “Generative AI has enormous economic potential and could boost global labor productivity by more than 1 percentage point a year in the decade following widespread usage,” they wrote. PHOTO BY AVISHEK DAS/GETTY IMAGES 

Global investments in this area could reach roughly $200 billion by 2025, and these investments are expected to precede the “adoption and efficiency gains start driving major gains in productivity,” as per the bank’s analysis. The analysts further pointed out that while investment to date has been concentrated on model development, a “substantially larger hardware and software push will be required for generative AI to scale.”

The report concluded that the impact of AI adoption on the U.S. economy is likely to become significant sometime between 2025 and 2030.

 

 

 

Produced in association with Benzinga



Apple’s Q3 Earnings Awaited As Stock Trades Lower

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strongOn the daily chart, Apple was attempting to print a doji candlestick on Thursday, which indicates that the price may rise on Friday. The candlestick, however, will be invalidated if Apple reacts negatively to the news, and the stock may drop to test support at the 50-day simple moving average, which is now trading at roughly $187. BENZINGA/strong



By Melanie Schaffer

Apple Inc is set to print third-quarter financial results after the market closes Thursday. The stock was trading lower heading into the event


When the tech giant printed its second-quarter results on May 4, the stock surged 4.69% the following day and continued in its uptrend, which eventually led Apple to reach a new all-time high of $198.23 on July 19. 

For that quarter, Apple reported EPS of $1.52 on revenue of $94.8 billion. The company came in ahead of estimates for EPS of $1.43 on revenues of $92.96 billion. 

For the third quarter, analysts estimate that Apple will print earnings per share of $1.09 on revenues of $74.24 billion. 

On the daily chart, Apple was attempting to print a doji candlestick on Thursday, which indicates that the price may rise on Friday. The candlestick, however, will be invalidated if Apple reacts negatively to the news, and the stock may drop to test support at the 50-day simple moving average, which is now trading at roughly $187. BENZINGA

Ahead of the event, JP Morgan analyst Samik Chatterjee maintained an Overweight rating on the stock and raised a price target from $190 to $235. Read more here… 

From a technical analysis perspective, Apple’s stock looks neutral heading into the event, having broken bearishly from a rising channel and negated its uptrend but on low volume, which indicates Thursday’s drop could be a bear trap. 

It should be noted that holding stocks or options over an earnings print is akin to gambling because stocks can react bullishly to an earnings miss and bearishly to an earnings beat. 

Options traders, particularly those who are holding close-dated calls or puts, take on the extra risk because the institutions writing the options increase premiums to account for implied volatility. 

The Apple Chart: Apple dropped under the bottom ascending trend line of a rising channel pattern on Thursday but on lower-than-average volume. If the stock receives a bullish reaction to its earnings print and pops back up into the pattern, it may find resistance at the upper ascending trend line of the channel. 

On the daily chart, Apple was attempting to print a doji candlestick on Thursday, which indicates that the price may rise on Friday. The candlestick, however, will be invalidated if Apple reacts negatively to the news, and the stock may drop to test support at the 50-day simple moving average, which is now trading at roughly $187. BENZINGA

On Thursday, Apple was working to print a doji candlestick on the daily chart, which suggests the stock may trade higher on Friday. If Apple suffers a bearish reaction to the news, however, the candlestick will be negated and the stock could fall to test support at the 50-day simple moving average, which is trending at about $187.

If the stock rises but fails to form a higher high over the next few trading days, a downtrend will be confirmed, regardless of whether the stock temporarily trades back within the channel.

If Apple falls on Friday, volatility in the stock market is likely to increase. Traders wishing to play the potential volatility in the stock market can use MIAX’s SPIKES Volatility products. The products, which are traded on SPIKES Volatility Index (XMIO: SPIKE), track expected volatility in the SPY over the next 30 days.

Apple has resistance above at $194.48 and at $198.23 and support below at $189.61 and at $184.95.

Produced in association with Benzinga



Israeli Firm Uncovers 2-Year Phishing Campaign In Mexico, 4,000 Victims Affected

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strongFictitious html pages and hacker programs are seen on screens while a man has his hands on the keyboard. Perception Point, an Israeli cybersecurity firm, recently disclosed that it has discovered an extensive phishing campaign in Mexico that lasted for almost two years and claimed over 4,000 victims. ANNETTE RIEDLE/DPA/GETTY IMAGES/strong



By Yulia Karra

Israeli cybersecurity company Perception Point recently revealed it has uncovered a widespread phishing campaign in Mexico that lasted for nearly two years and left behind over 4,000 victims.


Perception Point specializes in detection, investigation and remediation of all cyber threats across corporate organizations’ email, web browsers and cloud collaboration apps.

The company’s researchers dubbed the phishing campaign “The Manipulated Caiman” due to the mention of the words “Loader Manipulado” in the script of the cyberattack and the perpetrators’ likely Latin American origin.

Fictitious html pages and hacker programs are seen on screens while a man has his hands on the keyboard. Perception Point, an Israeli cybersecurity firm, recently disclosed that it has discovered an extensive phishing campaign in Mexico that lasted for almost two years and claimed over 4,000 victims. ANNETTE RIEDLE/DPA/GETTY IMAGES

The campaign targeted primarily Mexican citizens, who were collectively defrauded out of $55 million.

The researchers say the attackers used a wide variety of tools with an ultimate goal of gaining access to bank credentials of individuals and organizations based in Mexico — only to steal them along with the victims’ funds.

Although the full extent of the attack is still unknown, an initial probe reveals the campaign started sometime in 2021 and continued until at least until May 2023. The Perception Point specialists believe the attackers managed to remain under the radar — and even grow their enterprise — due to Mexico’s relatively lax cybercrime laws.

“The ‘Manipulated Caiman’ operation highlights the dangerous extent of sophisticated attacks that leverage techniques such as geofencing and multi-layered scripting,” Perception Point Incident Response Team Leader Igal Lytzki told ISRAEL21c.

Fictitious html pages and hacker programs are seen on screens while a man has his hands on the keyboard. Perception Point, an Israeli cybersecurity firm, recently disclosed that it has discovered an extensive phishing campaign in Mexico that lasted for almost two years and claimed over 4,000 victims. ANNETTE RIEDLE/DPA/GETTY IMAGES

“The fact that the operation flew under the radar for nearly two years underscores the urgency for proactive security measures like advanced persistent threat [APT] and anomaly detection.”

 

Produced in association with ISRAEL21c