Good morning. It's Wednesday, June 9, and we're covering global crime networks duped by security agencies, a tax leak at the IRS, and much more. Have feedback? Let us know at hello@join1440.com.

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NEED TO KNOW

Global Crime Sting

Hundreds of suspects have been arrested in a global sting operation after crime networks were tricked into using an app used by police agencies around the world. The encrypted communications platform—known as ANOM—has been secretly run by the Federal Bureau of Investigation, Europol, and the Australian Federal Police since 2018.

The app was installed on stripped-back cell phones that were purchased on the black market, with the platform hidden within the calculator feature (see how it works). Criminals then divulged plans for drug trafficking, murder plots, money laundering, and more. Police in more than a dozen countries, in an operation dubbed Trojan Shield, were then able to access more the 27 million messages across 20,000 devices—leading to more than 800 arrested, 32 tons of drugs seized, and more than $148M in cash and cryptocurrencies recovered.

Read about the fugitive who inadvertently helped the operation get off the ground here.

Failure at the Edge

A number of major websites were knocked offline for hours yesterday morning after a technical glitch at a third-party internet services company. Analysts said the incident, which did not involve a cyberattack, reflected a weak point in an increasingly global and distributed internet infrastructure. 

Parts of Amazon, Reddit, Twitch, The New York Times, and other major sites were affected. At the center of the problems was Fastly, which operates a content delivery network using what is known as edge computing. The approach refers to servers geographically placed near customers around the world in an effort to speed up access times. For example, the company says a European customer accessing a US-based site will see load times up to a half-second faster.

The consequence of the globally connected network means sites across the world could crash when such companies experience issues. 

Tax Leak

Federal officials are investigating the release yesterday of a sweeping set of tax filings from some of the wealthiest Americans. Published by ProPublica, the leak included returns from Amazon CEO Jeff Bezos, Tesla CEO Elon Musk, Berkshire Hathaway CEO Warren Buffett, and others.

The report claims the top 25 richest Americans saw their wealth increase by $401B between 2014 and 2018, while paying about $13.6B total, or 3.4%—a term the report refers to as a "true" tax rate. For comparison, households with a median average income of $70K pay about 14% in taxes.  

Critics argued such individuals typically have large stakes in the companies they own, which rise in value—thereby increasing wealth—but generate no income. Known as unrealized gains, this rise in value is not taxable until shares are sold, a rule which applies to all Americans when their assets appreciate. Upon selling, this rise in value would become taxable. 

Investigators are probing whether the confidential documents were leaked from inside the IRS, which would be a crime. ProPublica did not disclose who provided the returns, and said it would use the data to publish a series of articles covering specific tax mechanisms used by the ultrawealthy in the near future. 

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IN THE KNOW

Sports, Entertainment, & Culture

Brought to you by The Ascent

> Denver Nuggets star Nikola Jokic becomes sixth international player to be named NBA Most Valuable Player; Joel Embiid and Steph Curry finish second and third in voting (More)

> Host Chris Harrison to permanently depart "The Bachelor" franchise after nearly 20 years after racially insensitive comments (More) | See Bachelor alums react to the news (More)

> Meghan Markle releases her first children's book, "The Bench"; story focuses on a mother's perspective of a father-son relationship (More) | Western Michigan University receives $550M donation, the largest-ever donation to a US public university (More)

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Science & Technology

> Senate passes $200B bipartisan competitiveness bill, funding research and development in manufacturing technologies in bid to counter China; bill heads to House for consideration (More)

> Researchers identify gene that controls the circadian rhythm, or wake-sleep cycle, in mice; may lead to understanding of how similar genes work in humans (More)

> Oldest livestock genome yet sequenced suggests goat domestication began in western Iran roughly 10,000 years ago; study shifts timeline for when communities in the region began managing herds (More)

Business & Markets

> US job openings at record high 9.3 million in April, per Labor Department’s Job Openings and Labor Turnover Survey or JOLTS report (More)

> Warren Buffett's Berkshire Hathaway invests $500M in Brazilian digital bank Nubank, valuing company at $30B (More)

> Shares of electric vehicle maker Lordstown Motors sink 16% after disclosing it doesn’t have sufficient cash to begin full commercial production (More) | Shares of Medicare insurance startup Clover Health become latest “meme stock” jumping 86% after chatter on Reddit forums (More) 

Politics & World Affairs

> Infrastructure talks between White House and Senate GOP end without compromise, focus switches to proposal from bipartisan group of senators (More) | Senate report finds US Capitol Police intelligence found, but failed to adequately communicate, threats of the building's Jan. 6 storming flagged as early as December (More)

> Middle East hit with blistering heatwave, with five countries topping 122 degrees; temperatures come more than month before average annual peak (More)

> Ex-Gov. Terry McAuliffe wins Virginia Democratic primary in bid for his former office; will face newcomer Glenn Youngkin (More) | Charlottesville, Virginia city council votes to remove statues of Confederate generals Robert E. Lee and Stonewall Jackson; statues were the focus of 2017 "Unite the Right" rally (More)

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ETCETERA

Five decades of American eating habits.

Learn to describe buildings better.

French President Emmanuel Macron slapped on trip to small town. 

Washington state approves "joints for jabs."

British woman saves twin by punching a crocodile.

Kanye's first Gap piece sells out online.

Tinder wants to help you avoid awkward encounters.

Cicadas are interfering with weather radars.

Clickbait: Dog ejected from car crash, decides to start herding sheep.

Historybook: Roman emperor Nero commits suicide (68); RIP author Charles Dickens (1870); HBD Michael J. Fox (1961); Secretariat wins horse racing’s Triple Crown (1973); HBD Natalie Portman (1981).

"I am careful not to confuse excellence with perfection. Excellence, I can reach for; perfection is God's business."

- Michael J. Fox

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