Hackers are creating false Porsche NFT accounts / Prilex malware now able to block NFC payments / Google Fi has been hacked

Plus: Hypernative raises $9M Seed to help prevent crypto thefts

Inside.com Part of   Network February 01, 2023

Hackers are creating false Porsche NFT accounts to deploy a phishing campaign. The automaker recently canceled its plans to launch an NFT collection after poor reviews. More: Porsche planned to mint 7,500 NFTs on Monday, but the company failed to successfully mint all of them.  This caused backlash from the crypto community, leading to the cancellation of the entire project. Even though this news spread among crypto enthusiasts, hackers are still trying to take advantage of this situation by sending direct messages to individuals on social media and asking them to provide their information in return for receiving Porsche NFTs. Other cases include hackers sending phishing links to their targets, asking that they connect their crypto wallets to have the NFT transferred to them, but in reality, the hackers steal the funds they have on those wallets. One specific fake Twitter account managed to gain 11,000 followers pretending to be the official page of the NFT collection. The account was taken down by Twitter.

The Prilex malware is now able to block contactless NFC card payments. By doing so, threat actors can get customers to use their cards in a reader that has previously been compromised to steal their information. More: Contactless payment systems payments use near-field communication technology implemented in Samsung Pay, Apple Pay, Google Pay, Fitbit Pay, or other popular forms of payment. This payment technology has risen in popularity since the pandemic, resulting in increased interest from threat actors to use it in their favor. The new feature was tracked in Prilex version 06.03.8080, 06.03.8070, and 06.03.8072.

Google has announced that its mobile virtual network provider Google Fi has been breached. Victims have been contacted through email by the company. More: Google has stated that hackers have stolen information such as: date of account activation, data about individual mobile service plans, SIM card serial numbers, and account status. Other information, such as a user's name, email address, credit card details, etc. has remained safe, according to the company. The threat actor responsible for this breach has not been identified yet, but researchers believe it may be tied to the recent T-Mobile hack, considering the fact that Google Fi uses T-Mobile for its network services.

Hypernative has raised a $9M Seed funding round to help prevent crypto thefts. Boldstart ventures and IBI tech fund led the round. More: Hypernative offers a security platform that helps companies detect security threats hours before they reach their digital infrastructure.  The company claims that it has helped its clients save $14B in potential damages that could have been caused by cyberattacks. Blockdaemon, Alchemy, Borderless, CMT Digital, and Nexo also participated in the funding round.

Indonesia-based Peris Ai has raised an undisclosed funding round to offer a comprehensive cybersecurity software suite for enterprises. East Ventures led the funding round. More: Peris AI is a cybersecurity startup that offers an all-in-one suite of products, including: Pen testing, Open-source intelligence, Vulnerability assessment, Cybersecurity training, Bounty remediation, Attack Surface management, etc. This platform uses AI to anticipate cyberattacks that may target the digital infrastructure of the company's clients. The company offers these services in the form of SaaS products, where enterprises sign up for a monthly subscription and choose the services they need. Magic Fund also participated in the round.

Quick Hits This year, try a resolution that sticks — going to therapy with BetterHelp. Save 25% off your first month..* Researchers have tracked a new malware named Nevada. This ransomware targets Windows systems, as the administrators behind the campaign have been inviting China and Russia-based hackers to use it in exchange for 85% of the amount they're able to steal. Four schools in Nantucket, Massachusetts, were forced to close after a cyberattack shut down their digital infrastructure. The threat actors behind the campaign are unknown so far. Over 30,000 QNAP devices are believed to have been exposed due to a security flaw tracked as CVE-2022-27596. A hacking campaign targeted over 10,000 victims by sending fraudulent emails impersonating digital signature company DocuSign. The emails led victims to a phishing page, where an infected PDF file was used as an infection mechanism. Automation is your finance team's best productivity strategy. See five finance tasks you should be automating today.* *This is sponsored content.

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Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords.

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Earnings: Meta, Peloton / FTC loses Meta antitrust suit / Adani cancels share sale

Plus, the U.K. unveils plans to regulate the crypto industry.

Inside.com Part of   Network February 01, 2023

Meta shares popped more than 19% in extended trading on Wednesday after the company reported better-than-expected Q4 and full-year 2022 results. Meta generated $32.17B in revenue in Q4, down 4% compared to the previous year. Q4 net income came in at $4.65B, or $1.76 per share, down 55% YoY. More: Full-year revenue was $116.61B, down 1% YoY. Full-year net income was $23.2B, or $8.59 a share, down 41% YoY. Meta incurred restructuring charges for its Family of Apps unit, which includes Facebook, Instagram, and WhatsApp, of $3.76B and $440M for its Reality Labs unit. Meta’s Reality Labs unit houses its virtual and augmented reality products and technologies. Meta’s Family daily active users number was 2.96 billion in December, up 5% YoY. Facebook’s daily active users number was 2 billion, up 4% YoY. Meta had a headcount of 86,482 as of Dec. 31, an increase of 20% YoY. In November, Meta announced it would lay off about 11,000 workers, or 13% of its workforce. Meta increased its share buyback program by $40B; the company repurchased $27.9B worth of shares in 2022.

The Fed announced a 0.25% rate increase on Wednesday, bringing the federal funds rate to a range of 4.50% to 4.75%. The move marks the eighth straight Fed rate increase within the last 12 months and second step down in the percentage of the increase. The central bank announced a 0.50% rate increase in December following four 0.75% hikes. More: During a press conference on Wednesday, Fed Chairman Jerome Powell said the disinflationary process has started, but the job is not fully done. Powell signaled more interest rate hikes in the future, though at a slower pace, to observe their effects on the economy. Powell said Fed officials have not seen disinflation in core sectors of the economy, particularly in Housing Services. Powell added that the central bank has no desire to over-tighten but aims to bring inflation back down to its 2% target following months of 40-year-high inflation numbers. U.S. stocks rose following news of the interest rate hike. The Dow rose 0.02% to 34,092.96, the S&P 500 gained 1.05%, and the tech-heavy Nasdaq rose 2%.

Peloton shares rose more than 26% on Wednesday after reporting better-than-expected Q2 FY2023 earnings. The connected fitness company generated $792.7M in total revenue, down 30% from a year ago but up 29% from the previous quarter. Peloton narrowed its net loss to $335.4M from $439.4M posted last year and $408.5M from the previous quarter. More: Peloton's subscription revenue surpassed its connected fitness products revenue for the third straight quarter, coming in at $411.3M, up 22% YoY. Connected Fitness Products' revenue was $381.4M, down 52% YoY. The company narrowed its gross margin for its connected fitness products from negative 27.2% in the previous quarter to negative 11.2%. Its subscription gross margin was 67.6%, and total gross margin was 29.7%. Peloton reported 6.7 million members and 3.03 million connected fitness subscriptions, up 10% YoY. Peloton expects Q3 FY2023 sales to fall between $690M and $715M and a total gross margin of 39%. The company expects its connected fitness subscription to be between 3.08 million and 3.09 million. Peloton shares closed at $16.36, up ~26.5% for the day; the company is up more than 100% YTD.

A federal judge denied the FTC’s request to block Meta from acquiring virtual-reality startup Within Unlimited. According to sources, U.S. District Judge Edward Davila, in a sealed court decision, denied the FTC’s request for an injunction to block the deal. Meta announced its plans to acquire Within Unlimited in 2021. More: The ruling is a significant blow to the FTC as the federal agency aims to curb the dominance of big tech companies. The FTC could still try to block the acquisition through a separate lawsuit filed in its in-house administrative court. The trial for the suit is set to begin on Feb. 13. Judge Davila granted a temporary restraining order to prevent Meta from closing the transaction for another week, giving the federal regulator some time to determine its next steps. Meta and the FTC are locked in another antitrust case where the federal agency accuses Meta’s Facebook unit of abusing its monopoly position in social media.

India’s Adani Enterprises has canceled its planned $2.4B share sale after the firm’s listed companies lost more than $90B in market value since last week. Short seller Hindenburg Research published a 106-page report on Jan. 24, accusing Adani Group of widespread fraud and stock manipulation. More: Adani called Hindenburg Research’s accusations unresearched and maliciously mischievous. Adani also released a 413-page response, which doesn’t appear to have calmed market concerns. Adani Enterprises’ shares fell more than 25% on Wednesday, bringing them well below the deal price range. In a recent filing, Adani said due to the unprecedented situation and current market volatility, it was returning the proceeds from the sale and withdrawing completed transactions. According to sources, Adani’s planned equity fundraising was backed by several investors, including Abu Dhabi’s International Holding Company (IHC) and London-listed Jupiter Asset Management. Adani had secured bids for more than 92% of the shares.

EV startup Rivian, delivery firm FedEx, and sports-betting company DraftKings announced layoffs on Wednesday. Rivian said it was laying off 6% of its workforce, or about 840 employees, to conserve cash as it prepares for a potential price war in the EV industry. More: FedEx announced it was laying off more than 10% of its global management staff amid a shipping slowdown. The delivery firm did not provide details on the number of jobs being cut. In June, FedEx laid off 12,000 U.S. workers and closed 90 FedEx office locations in September. As of December, FedEx had more than 550,000 employees globally. Draft Kings announced it is cutting 140 jobs, or 3.5% of its workforce, as part of a reorganization.

Quick Hits This year, try a resolution that sticks — going to therapy with BetterHelp. Save 25% off your first month.* Beyoncé announced a global tour for her seventh solo album on Wednesday. The Renaissance World Tour will run from May 10 to Sept. 27 across Europe and North America.  NFL star quarterback Tom Brady announced his retirement from the NFL on Wednesday for the second time, saying it's for good this time. Brady initially announced his retirement last year.  The U.S. plans to send Ukraine longer-range smart bombs for the first time. The smart weapon is a Ground-Launched Small Diameter Bomb, or GLSDB, with a range of 94 miles. Pope Francis, while visiting the Democratic Republic of Congo, condemned the exploitation of the African continent. Pope Francis said the DRC should be left alone, adding the country is not a mine to be stripped or a terrain to be plundered. The U.K. unveiled plans to regulate the cryptocurrency industry. Proposed measures include tougher rules for firms that act as intermediaries or custodians of customers' crypto assets.  Automation is your finance team's best productivity strategy. See five finance tasks you should be automating today.* *This is a sponsored post.

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Vanessa Omeokachie is a writer for Inside.com; she writes the daily Inside Business newsletter. Her interests include finance, technology, and entrepreneurship. In her free time, she enjoys reading, hiking, attending concerts and music festivals, traveling, and exploring.  Connect with her on Twitter @VanessaOmeo or on LinkedIn. Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords.

767 Bryant St. #203, San Francisco, CA 94107 Copyright © 2023 Inside.com

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