1)
China hit by a massive hacking scandal; record of 1 Bn Chinese people compromised
A huge hacking scandal has been unearthed in China. Many people are already claiming that this scandal is the biggest ever hacking scandal till date. An unidentified Chinese hacker recently managed to access the server of Shanghai Police Station and stole the data of nearly 1 Bn Chinese resident. This data, which contains sensitive information like name, address, Birthplace, national ID number & mobile number, has been put on sale on a popular forum. The Chinese government, which takes immense pride in its robust cybersecurity, has certainly been left embarrassed and red faced by this hacking scandal. It is now expected that Chinese authorities will soon launch an official investigation into this hacking fiasco.
2)
Sacked Employees praise Elon Musk’s Tesla on LinkedIn Post
It is very rare to see sacked employees praising their former employers or companies. More often than not sacked employees always bad mouth their employers. But Elon Musk’s Tesla is proving to be an exception in this case. Tesla, which recently sacked scores of employees, is being praised by these very sacked employees on LinkedIn. News portal Business Insider claims to have come across several LinkedIn posts of Tesla’s sacked Employees. According to Business Insider, these sacked employees have written in their LinkedIn posts that they felt grateful to be working with so many talented people in Tesla. They also wrote that they equally felt grateful to be part of Elon Musk’s great vision of revolutionizing the global auto industry.
3)
Coinbase backed Indian crypto exchange halts crypto withdrawal
The ongoing bloodbath in the global crypto market has forced the Indian crypto exchange Vauld to freeze all crypto withdrawals from its platform. Vauld said that it has already seen withdrawal of nearly $200 Mn cryptos this week as panicked investors resorted to heavy selling. Vauld, by the way, is backed by global crypto exchange Coinbase. The U.S based Coinbase, which is one of the top crypto exchanges in the world, has itself been badly hit by the ongoing crypto crash. The company recently laid off scores of employees across all global markets including India. Meanwhile, the valuation of the global cryptocurrency industry nosedived by almost $2 trillion as a result of the recent collapse in the crypto market.
4)
Crisis hit Byju’s plans to raise over $2 Bn from investors
The edtech giant Byju’s, which recently has been in news for all the wrong reasons, is now reportedly planning to raise $2Bn from investors. According to media reports, Byju’s will use most of these funds to acquire a U.S. based edtech firm called 2U. If the edtech giant does acquire this U.S. firm then it will most probably be the most expensive acquisition in Byju’s history. Moreover, it will also be the most expensive acquisition in the edtech space. For all those who don’t know, Byju’s had recently sacked more than 1000 employees from its subsidiary firms White Hat Jr and Toppr. The company is also facing criticisms for delaying the announcements of its 2021-22 financial results.
5)
Former Google CEO is not upbeat about Metaverse
While the world seems to be going ga ga over Metaverse, a former Google CEO seems to be least impressed by this futuristic technology. Eric Schmidt, who was the CEO of Google from 2011 to 2017, has hinted that Metaverse may not live up its hype. Speaking at a tech conference, Schmidt said that Metaverse is still a very complex phenomena and people may not embrace it openly. He also hinted that Mark Zuckerberg’s bet on Metaverse may eventually prove to be too risky and expensive for his company.