THE NEWS WRAP: Adobe Flash under attack again

Adobe Flash has been compromised again, this time being exploited by hackers to send malicious bits of code to users through Yahoo’s large advertising network.

As the New York Times reports, the attack started on July 28, and involved hackers buying ads on Yahoo sites that led users to download malware code which then commandeered computers through expired versions of Flash. 

The computers were held for ransom or redirected to sites that the hackers profited from.

It’s another in a series of breaches of Adobe Flash, and has led an ever-growing pitchfork-holding mob to call for its immediate death.

“Right now, the bad guys are really enjoying this,” security researcher at Malwarebytes Jerome Segura says.

“Flash for them was a godsend.”

Etsy shares plummet after worrying Q3 plans

Despite announcing better than expected second quarter financial results, shares in online marketplace Etsy have fell by 13% after the startup announced a troubling outlook for the upcoming quarter.

Etsy boasted revenue of US$61.4 million and expanded by 44.4%, with 1.5 million active sellers and 21.7 million active buyers.

But, as TechCrunch reports, it was the rather long paragraph describing the upcoming quarter that investors focused on.

Etsy explains that gross sales are expected to go down, spending will go up and revenue growth is to slacken, none of which is particularly good news.

“We believe our reputation as an authentic, trusted marketplace is the foundation for the long-term value we expect to create for our entire community, including our investors, for decades to come,” Etsy CEO and chairman Chad Dickerson says.

Instagram makes advertising more accessible

Instagram has switched on its advertising API, making it easier and quicker for marketers to place ads on the site.

The platform has over 300 million monthly active users, but until recently has been largely underutilised in terms of advertising.

Companies wanting to advertise through the site have previously had to contact an Instagram staffer directly, but now this process will become more automated and streamlined.

The API opportunity has been initially presented to a number of large companies, including Hootsuite, SocialCode and Salesforce’s Marketing Cloud.

“The Instagram Ads API will help us make ads more relevant to the community, serve more diverse business objectives and make buying on the platform easier for advertisers,” an Instagram spokesperson tells Venture Beat.

Overnight

The Dow Jones Industrial Average is down 47.51, falling 0.27% overnight to 17,550.69. The Australian dollar is currently trading at US74 cents.

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