Aug 15, 2018

Instagram investigating users' claims they've been hacked

Photo: Omar Marques/SOPA Images/LightRocket via Getty Images

Instagram users are being blocked from logging in, only to find later their accounts have been hacked and their credentials often newly linked with a Russian email ending in .ru.

What’s happening: Instagram is investigating the hacking claims following a spike in reports, but doesn’t know whether these are actually Russians hacking or whether it's just someone using a Russian email. Instagram is currently helping customers regain access to their accounts and working to roll out its own third-party app authentication.

Yes, but: But some accounts getting hacked already had two-factor authentication (2FA) in place, per The Sun, which is a security feature intended to add an extra step to block potential hackers

The key is, not every 2FA is made equal. Using SMS as the second step — like how Instagram's currently works — can be vulnerable. SMS 2FA is not as secure as using physical, hardware-based keys. Google hasn’t had any of its more than 85,000 employees phished on work-related accounts since implementing physical key use in early 2017, according to KrebsOnSecurity.

By the numbers: Kaspersky Lab products prevented approximately 68,000 attempts to visit phishing pages imitating Instagram this year. And in July, Kaspersky "witnessed a spike in this attack vector — on July 31, the number of phishing attacks skyrocketed from around 150 per day to almost 600," per Kaspersky.

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OPEC+ and G20 energy meetings mark zero hour for oil diplomacy

Illustration: Aïda Amer/Axios

The next two days will be pivotal for determining whether large oil-producing countries can partially stabilize an industry reeling from very low prices and the historic, coronavirus-fueled collapse in demand.

Driving the news: The OPEC+ group led by Saudi Arabia and Russia begin meeting remotely later Thursday morning to discuss production cuts, to be followed by a virtual Friday meeting among G20 energy ministers that includes the U.S.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9:30 a.m. ET: 1,498,833 — Total deaths: 89,733 — Total recoveries: 337,074Map.
  2. U.S.: Total confirmed cases as of 9:30 a.m. ET: 432,438 — Total deaths: 14,808 — Total recoveries: 24,125Map.
  3. Business: Fed will lend up to $2.3 trillion amid coronavirus crisis — Another 6.6 million jobless claims filed last week
  4. Public health latest: The federal government is in the process of deploying 90% of its stockpiled medical equipment to fight the pandemic.
  5. States latest: New York has reported more cases than the most-affected countries in Europe — Chicago's Cook County jail is largest-known source of coronavirus in U.S.
  6. Poll: 1 in 10 Americans believe economy will never return to normal from coronavirus.
  7. What should I do? Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Fed will lend up to $2.3 trillion amid coronavirus crisis

Fed Chairman Jerome Powell at a press conference in March. Photo: Eric Baradat/AFP via Getty Images

The Federal Reserve announced Thursday that it will support with the coronavirus-hit economy with up to $2.3 trillion in loans to businesses, state and city governments — made possible by Treasury funds set aside in the government stimulus package.

Why it matters: The Fed has taken more action amid the coronavirus outbreak than it has in any other financial crisis in U.S. history in an effort to blunt the effects of the resultant economic shutdown.

DetailsArrowUpdated 19 mins ago - Economy & Business