Marcus Hutchins, the British researcher who stopped the May WannaCry hack, has been arrested by the FBI in Las Vegas for allegedly playing a role in creating the "Kronos" malware that targeted bank accounts, per The Guardian. The WannaCry attack crippled healthcare operations in the UK and hit dozens of countries.

About Kronos: It spread between 2014 and 2015 through emails with malicious attachments, such as compromised Word documents, with the aim of getting banking credentials. New infections occurred through 2016.

Hutchins' charges: The Department of Justice released the allegations about Hutchins' role in the Kronos hack, claiming he helped create, spread, and maintain the hack. Hutchins faces six counts of hacking-related charges. There is another, unnamed co-defendant, who allegedly tried selling the malware on AlphaBay, a darknet marketplace, which was shut down July 20 when the FBI and European authorities seized its servers.

Note: Ryan Kalember of Proofpoint said "This could very easily be the FBI mistaking legitimate research activity with being in control of Kronos infrastructure. Lots of researchers like to log in to crimeware tools and interfaces and play around."

Go deeper

The Fed transforms itself to direct the economy

Illustration: Eniola Odetunde/Axios

The Federal Reserve is undergoing an overhaul. Conceived to keep inflation in check and oversee the country's money supply, the central bank is now essentially directing the economy and moving away from worries about rising prices.

What we're hearing: The move to act less quickly and forcefully to tamp down on inflation has been in the works for years, but some economists fear that the Fed is moving too far from its original mandate.

18 mins ago - Sports

The college football season is on the brink

Illustration: Eniola Odetunde/Axios

Power 5 commissioners held an emergency meeting on Sunday to discuss the growing concern that fall sports can't be played because of COVID-19.

Driving the news: The Mid-American Conference on Saturday became the first FBS league to postpone fall sports and move them to the spring, and there are rumblings that Power 5 conferences are ready to follow suit.

Uber CEO proposes "benefits funds" for gig workers

Uber CEO Dara Khosrowshahi. Photo: Scott Heins/Getty Images)

Uber CEO Dara Khosrowshahi called for establishing "benefits funds" for gig workers in a New York Times op-ed out Monday.

Why it matters: Gig workers, who remain independent contractors and not employees, have long pushed companies like Uber for benefits comparable to those received by traditional workers. The coronavirus pandemic and its resultant economic strain has broadened those calls.