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Good Morning Tech Fam, here's a quick tech update for you to catch on:
What's new today: Infosys bags Telenor Norway IT modernization deal; Instagram bug bounty: Indian student bags whopping US$45,000 reward.
Fast-Trach Insights: Crypto market maker Wintermute hacked for US$160M, OTC services unaffected; Nasdaq (NDAQ) announced yesterday that it was starting a cryptocurrency custody service.
Cryptocurrency market maker Wintermute has lost US$160 million in a hack relating to its decentralized finance (Defi) operation, according to a tweet from the company's founder and CEO, Evgeny Gaevoy.
The firm's lending and over-the-counter (OTC) services have not been affected. Decentralized finance refers to financial activities carried out on the blockchain without the use of third parties.
Earlier Tuesday, Nasdaq (NDAQ) announced that it was starting a cryptocurrency custody service to cash in on demand from institutional crypto investors. The initiative by the second-largest U.S. stock market operator follows a broader trend among large institutional investors and other Wall Street organizations that will be offering crypto products and services.
Yesterday, Infosys announced its collaboration with telecommunications operator Telenor Norway in its business transformation program to become a digital telecommunications company. The Bengaluru-based company did not disclose the financial details or tenure of the deal.
Reserve Bank of India Governor Shaktikanta Das on Tuesday said the next decade of finance would focus mainly on two themes – sustainable development and technology-led innovations transforming the lives of the common people. Speaking at Global Fintech Fest in Mumbai, he said technology, innovation, and fintech are working in tandem and contributing to the dynamism of the sector.
A student, Neeraj Sharma who hails from Jaipur, has received a whopping amount of US$45,000 from the Meta-owned instant messaging app Instagram for saving the data of millions of users. Neeraj has found a dangerous bug that could give access to the social media accounts of users to hackers. As per reports, the Instagram bug was capable of changing thumbnails in any user's account without login and password, making it vulnerable to hackers.
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