Tag: million
UK Government Invests £22 Million In Semiconductor Technology
The UK government decided to give £22 million to help with the development of chip technology. This is will take…
The post UK Government Invests £22 Million In Semiconductor Technology appeared first on TechRound.
RuneScape developer Jagex is on the verge of being acquired again, this time by the backers of the Six Nations rugby tournament in a deal worth $900 million
RuneScape developer Jagex is on the verge of being acquired again, this time by the backers of the Six Nations rugby tournament in a deal worth $900 million
Hackers could have enslaved 3 million toothbrushes for DDoS attack
Hackers could have enslaved 3 million toothbrushes for DDoS attack
Goal of reaching one million Welsh speakers in doubt, new report warns
Crypto: FTX sues Sam Bankman-Fried and others, seeking to claw back $240 million from Embed deal
Seattle Startup’s Ex-CFO Accused of Diverting $35 Million, Losing It In Crypto Crash
The indictment in U.S. District Court charged Shetty with four counts of wire fraud. He is scheduled to be arraigned May 25. Shetty’s attorney, Cooper Offenbecher, said in an emailed statement that he and his client had been in regular contact with prosecutors and disagreed with the decision to bring an indictment. “As the CFO of his former employer, tasked with making investment decisions for its benefit, Mr. Shetty was personally devastated by these losses, which occurred as a result of a catastrophic crash in the cryptocurrency market in May 2022,” Offenbecher wrote. “We look forward to responding to these allegations in Court.”
Prosecutors, however, said that as the company raised hundreds of millions of dollars in startup funding, it adopted a conservative approach to managing that money — a policy that Shetty had helped draft. According to the Seattle tech news website GeekWire, fabric had raised more than $293 million by February 2022 and was valued at $1.5 billion. In an emailed statement, the company said it had been cooperating with law enforcement and appreciated the work of the FBI and federal prosecutors. “While the amount taken is substantial, fabric remains very well-funded with years of runway,” the statement said.
Read more of this story at Slashdot.
Hyundai and Kia agree to $200 million settlement over TikTok car theft challenge
Hyundai and Kia agreed to a $200 million settlement stemming from a class-action lawsuit related to a rash of car thefts inspired by a viral social media challenge on TikTok.
The so-called “Kia Challenge” on the social media platform has led to hundreds of car thefts nationwide, including at least 14 reported crashes and eight fatalities, according to the National Highway Traffic Safety Administration. Thieves known as “the Kia Boyz” would post instructional videos on YouTube and TikTok about how to bypass the vehicles’ security system using tools as simple as a USB cable.
The thefts are reportedly easy to pull off because many Hyundai and Kia vehicles manufactured between 2015-2019 lack electronic immobilizers that prevent would-be…