Xi Jinping Renews Call for China Tech Push; Hackers in UP Demand US$1 Million In Crypto: Tech Market Roundup

Here is some quick tech catch for you so that you stay updated with the latest crypto and tech news

Good morning Tech Fam, here's a quick tech update for you to catch on:

What's new today: Hackers stole and deleted all data of students and staff from the computers of the KN Modi Foundation; Xi Jinping renews call for China tech push after US escalates curbs.

Fast-Trach Insights: Ether, ADA leads steep crypto slide amid dollar strength; India needs to be self-reliant in semiconductor technology, says Adani.

A group of hackers allegedly stole and deleted data of educational institutes of KN Modi Foundation in Uttar Pradesh and demanded cryptocurrency worth US$1 million to resolve the issue. Police have registered an FIR against two unknown persons under Section 507 (criminal Intimidation by anonymous communication) of the Indian Penal Code (IPC) and relevant sections of the IT Act.

Cryptocurrencies snapped an almost weeklong run above resistance levels as a strengthening dollar sent global equity and currency markets into declines. Ether (ETH) and Cardano's ADA have both dropped almost 9% in the past 24 hours, giving up a week's worth of gains to become the biggest decliners among major cryptocurrencies. Ether's slide came despite the activation of the Bellatrix upgrade – the Ethereum network's final "hard fork" before the Merge.

Xi Jinping renewed calls for China to step up the development of technology critical to national security, issuing a forceful reminder just as escalating US sanctions threaten Beijing's efforts to become self-reliant in semiconductors. Invoking the so-called "whole nation system" that propelled China's space and nuclear weapons programs, Xi exhorted top officials to pool their resources and focus on breakthroughs critical to the country's future.

Art restoration is a discipline that combines passion, patience, and resourcefulness. And it is benefitting more and more from the latest technological advances, especially in terms of artificial intelligence. The start-up Oxia Palus is training one such AI to accurately reconstruct paintings that have been lost for years.

Billionaire businessman and chairman of the Adani Group, Gautam Adani on Thursday said that India needs to become self-reliant in manufacturing semiconductors. Addressing the India Ideas Summit organized by US-India Business Council, he said that US' help would be critical in helping India become self-reliant in semiconductor manufacturing.