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Hackers reportedly used an off-the-shelf computer attack created in China to compromise the computers of at least 48 companies, including in the chemical and defense industries -- an attack described as being similar to the notorious Stuxnet virus, if not as severe. The goal of the attacks, reported Monday by security software company Symantec, "appears to be to collect intellectual property such as design documents, formulas, and manufacturing processes." The purpose: "industrial espionage, collecting intellectual property for competitive advantage." Symantec dubbed the attack "Nitro" and said a total of 29 companies in the chemical industry were targeted, in addition to 19 in other sectors, starting in late July. Among the companies were some that develop materials used primarily in military vehicles. Read more: http://www.foxnews.com/scitech/2011/10/31/nitro-hackers-reportedly-attack-dozens-companies-in-chemical-defense-industries/?test=latestnews#ixzz1cTIClsp4

yber attacks on the UK are at "disturbing" levels, according to the director of Britain's biggest intelligence agency. Government computers, along with defence, technology and engineering firms' designs have been targeted, Iain Lobban, the head of GCHQ, has said. China and Russia are thought to be among the worst culprits involved in cyber attacks. On Tuesday, the government hosts a two-day conference on the issue. Foreign Secretary William Hague convened the London Conference on Cyberspace after criticism that ministers are failing to take the threat from cyberwarfare seriously enough.

The main phone network in the West Bank and Gaza has suffered a sustained attack by computer hackers, the Palestinian Authority (PA) says. It says most of the Palestinian territory has lost internet service. PA spokesman Ghassan Ghattib said the attacks started in the morning and came from multiple sources around the world. He said he did not know if the hacking was linked to the Palestinian leadership's successful bid to get membership of Unesco on Monday. The move by the UN's cultural and scientific organisation was strongly criticised by Israel and the United States. The US immediately announced it was cutting off all of its funding to UN body. Prolonged lack of access to the internet would prove costly to many Palestinian businesses.