Image by TED Conference, from Flickr
Can xAI Save X? Musk’s New Merger And Its Financial Implications
- Written by Kiara Fabbri Former Tech News Writer
- Fact-Checked by Sarah Frazier Former Content Manager
Elon Musk announced that xAI, his artificial intelligence company, acquired X through an all-stock transaction.
In a rush? Here are the quick facts:
- Musk announced xAI’s acquisition of X in an all-stock transaction.
- xAI is valued at $80B, while X is valued at $33B or $45B with debt.
- Musk sees X and xAI as one entity due to shared assets.
Musk announced on Friday where he valued xAI at $80 billion, and X at $33 billion but included the $12 billion debt of the social network to reach a total value of $45 billion.
@xAI has acquired @X in an all-stock transaction. The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt). Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world, building models and data centers at… — Elon Musk (@elonmusk) March 28, 2025
According to Musk the future of X and xAI exists as one entity because the companies share essential assets. These include data, models, computing power, distribution channels, as well as talent base.
This move follows a pattern in Musk’s business strategy. In 2016 Tesla acquired SolarCity through a business transaction that he managed as the biggest shareholder of the solar energy company, as noted by The New York Times.
The Time reports that Tesla functions as a publicly traded entity, yet Musk operates his companies, including SpaceX, Neuralink, and The Boring Company, under private ownership, which enables him to redirect funding without public monitoring.
Reuters argues that X has faced financial challenges since Elon Musk purchased the company for $44 billion in 2022.
The advertising revenue-based business experienced decreased brand sponsorships due to Musk’s relaxed content moderation policies, and subsequent controversial platform decisions , as noted by The Times.
Fidelity demonstrated its commitment to the company by valuing X at $12 billion during December 2024. The financial performance of X remains unpredictable despite some advertisers deciding to return to the platform, noted The Times.
Musk revealed to employees in January that X operated at a financial loss, which barely compensated its expenses. Additionally, X’s internal financial reports from March showed that the company failed to reach its $153 million advertising target as ad sales dropped to $91 million, as reported by The Times.
In contrast, The Times notes that xAI continues to demonstrate positive growth patterns in the market. The company received $6 billion in funding during December which caused its worth to reach $40 billion.
Through the combination of these companies Musk utilizes xAI’s expanding value to address X’s monetary challenges.
Image by ROBIN WORRALL, from Unsplash
Crocodilus: An Advanced Android Malware Takes Remote Control of Your Banking Apps
- Written by Kiara Fabbri Former Tech News Writer
- Fact-Checked by Sarah Frazier Former Content Manager
A new Android malware known as Crocodilus has emerged and is causing a stir in the world of cybersecurity.
In a rush? Here are the quick facts:
- Crocodilus is a new Android malware targeting banks and cryptocurrency wallets.
- It uses overlay attacks, keylogging, and remote access to steal user data.
- The malware is linked to a Turkish-speaking developer based on source code analysis.
Crocodilus manipulates victims with fake wallet backup prompts to steal seed phrases.
Unlike other mobile banking threats such as Anatsa and Octo that evolved gradually, Crocodilus is a highly sophisticated threat from the start. This malware was discovered by researchers from ThreatFabric while doing their routine checks, and they described it as a significant step forward in mobile malware.
The researchers say that Crocodilus functions as a “device takeover” Trojan, meaning the attackers can take control of the infected Android devices from a distance.
The malware has different techniques of depriving victims of their information including overlay attacks, keylogging, and even utilizing Android’s Accessibility Services to record user activities. This type of malware is mainly used to steal bank and crypto account credentials.
After being installed on a victim’s phone, the malware asks for permission to access the phone’s accessibility services. Then, the malware establishes a connection with a remote server to receive further instructions and a list of apps to target.
As a consequence, it develops fake login pages known as overlays which are placed on top of the actual banking and cryptocurrency applications, aimed at stealing users’ login credentials. ThreatFabric explains that these attacks have been observed mainly in Spain and Turkey, but they expect the malware to spread globally.
What makes Crocodilus different from other malware is that it can collect information that is not limited to passwords. This feature is called an “Accessibility Logger,” and it captures everything that is displayed on the phone’s screen, including OTPs from applications like Google Authenticator.
This makes it possible for attackers to obtain sensitive information including the name and the value of the OTPs that are needed to secure transactions.
The malware also has a “hidden mode” where the malware displays a black screen overlay on the device so that the actions of the attackers cannot be seen. It also mutes sounds on the device so that fraudulent transactions go unobserved. The researchers say that this makes it very difficult for the victims to realize that their devices are being compromised.
Crocodilus is not only for financial apps, it also works with cryptocurrency wallets. When it gets the login credentials, the malware will use social engineering tactics to ask the victims to disclose their wallet’s seed phrase.
For instance, a fake notification pops up and tells the user to back up the wallet key in the next 12 hours or else they will be locked out. When the victim complies with the prompt, Crocodilus steals the seed phrase and hands the attacker the keys to the wallet, which they can then drain.
At first glance, it seems that the malware’s code is connected to a well-known Turkish-speaking cyber group, but the link is not confirmed.
As mobile threats are always on the rise, it is evident that malware like Crocodilus is a clear indication of how advanced malware can be. With its capabilities of device takeover, it is also a sophisticated data harvesting tool and can work in the background, making it a threat that should be taken seriously.
Financial institutions and cryptocurrency platforms have to improve their security measures to be able to counter such sophisticated types of attacks.
