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Intel CEO: We believe we have the right fixes for security exploit

Intel CEO: We believe we have the right fixes for security exploit

Security researchers, led by Google's Project Zero, disclosed that a major flaw in the system architecture of processors made by Intel, ARM, and AMD allows for an exploit called Spectre, which could enable malicious users to access sensitive data such as password or credit-card information that normally should be siloed between different applications.

Intel said Thursday it originally wanted to publicly disclose the problem with its micro-processors next week, but was forced to address it earlier because of media reports featuring the vulnerabilities.

But while the public is just being informed about the security problem, tech companies have known about it for months.

A little more than a month ago, Intel CEO Brian Krzanich sold approximately $24 million worth of Intel shares, a sale that almost eradicated Krazanich's entire position in the company.

The shares were sold in accordance with a SEC Rule 10b5-1 plan, which is meant to prevent illegal insider trading by allowing company executives to create predetermined, automatic selling plans.

An Intel spokeswoman says that Krzanich's October 2017 trading plan change and subsequent stock sale were "unrelated" to the chip design flaw, but declined to provide any alternate explanation.

But Google had previously notified Intel of the vulnerability in June, according to Business Insider. Krzanich had scheduled those sales on October 30. However, the circumstances surrounding the sale may attract the attention of the SEC, particularly given its value, which was in excess of $39 million.

While Intel shares took a hit from yesterday's revelation, they continue to trade higher than where Krzanich sold last November.

Krzanich sold shares 21 times during 2017, according to filing with the Securities and Exchange Commission. As fishy as it looks, Intel's CEO Brian Krzanich sold off a hefty portion of his company shares that nearly rocked his position in the company.

ArsTechnica reported that although Krzanick's stock sale stuck to the corporate laws, the timing of the sale and the length of time that Intel chose to keep the news of the vulnerabilities secret, could still result in increased scrutiny from the SEC. The transactions occurred in late November, before the flaw was public knowledge. His decision to set up that plan was "unrelated" to information about the security vulnerability, the representative said.

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