The blockchain space was recently rattled by allegations that ZKasino, a blockchain-based gambling project, executed a $33 million “rug pull,” stunning investors and shaking confidence in decentralized finance (DeFi) platforms. ZKasino had initially promised investors to return their Ether (ETH) upon the platform’s launch. However, it sparked controversy and accusations of an exit scam when it used the collected funds
Intelligent Money, a UK-based wealth management firm that oversaw a portfolio exceeding £1 billion, took a drastic turn when it entered into administration. The catalyst for this dramatic shift was a decision by the Financial Ombudsman Service, which upheld a complaint about the investments allowed within the company’s self-invested personal pensions (SIPPs). With such judgments piling up, the financial liabilities
The digital landscape is continuously evolving, and with it, the sophistication of cyber threats follows suit. In a recent unsettling development, cybersecurity experts have identified a malicious package by the name of “pytoileur” on the Python Package Index (PyPI), masquerading as a helpful Python API management tool. Far from benign, this package was a Trojan horse—concealing Windows binaries with nefarious
As modern investors increasingly factor Environmental, Social, and Governance (ESG) considerations into their portfolios, a seismic shift is being observed in the investment landscape. The intricacies and importance of these ESG elements have launched a newfound imperative for enhanced transparency and depth in financial data. As a result, traditional manual methods of data processing are rapidly giving way to sophisticated
In the fast-paced world of cryptocurrency, where every platform competes to establish dominance, the Algorand Foundation took a daring step. Their recent advertisement takes direct aim at some of the most established players in the space—Bitcoin, Ethereum, and Solana. Designed to showcase Algorand’s transactional prowess, the ad depicted a supermarket scenario where patrons face high fees and long waits with
In the wake of heightened cybersecurity threats, Check Point, a leading cybersecurity firm, has raised the alarm regarding a significant rise in attacks aimed at Virtual Private Networks (VPNs). Organizations around the world depend on VPNs to create secure connections for remote work and data protection. However, reports reveal that intruders are exploiting VPNs, particularly targeting those accounts that are
As the financial landscape continues to evolve rapidly, Velexa stands out in the WealthTech arena, pioneering strategies and technologies that break down traditional barriers to investment. At a time when retail investors are emerging as significant market participants, the need for more inclusive financial services is greater than ever—an opportunity that Velexa’s CEO, Tamara Kostova, knows cannot be missed. Under
The financial technology sector is about to witness a transformation with FE fundinfo’s strategic acquisition of Dericon. This move not only broadens FE fundinfo’s services and product offerings but also promises to redefine the synergy between data management and financial distribution networks. The acquisition deal, marking a significant milestone for both companies, aims to create a centralized platform for financial
The cybersecurity world is on high alert as it confronts Antidot, a newly discovered Android banking Trojan that is as stealthy as it is destructive. With its ability to infiltrate devices under the guise of a mundane Google Play update, Antidot dupes users into opening the door to their most sensitive information. Once the malware gains the necessary permissions, it
The Australian tech scene is witnessing an exhilarating moment as WeMoney, a promising financial wellness platform, garners a formidable $3 million in its latest funding round. This achievement comes on the heels of a significant $7 million funding round in mid-2022 and an initial $2 million seed investment. The cumulative financial support underscores deep investor confidence, led by heavyweights such
The financial technology landscape is witnessing the rapid ascent of Colendi, a Turkish FinTech startup that’s carving a niche for itself in digital banking and financial services. A recent capital infusion—raising $30 million in a Series A funding round—has put Colendi squarely in the spotlight. Noteworthy backers include Citigroup Inc.’s venture arm and Migros Ticaret A.Ş., among other existing investors.
In a bold move set to redefine the financial services landscape in the MENA region, EFG Hermes, the leading investment bank, has announced its acquisition of a minority stake in Kenzi Wealth, a Danish FinTech company at the forefront of AI-driven asset management technology. This strategic step is not merely a financial venture but a concerted effort to enhance EFG
