Category Archives: Business

Business, Computer Chips, Crypto, Financial, Science, Security, TechNews

Hacker Attacks on Crypto Protocols: Nearly $500M in Damage Last Quarter

Image: Hacker, Free Stock Picture, MorgueFile.com.

As the company Atlas VPN has found, hacker attacks have been particularly successful in recent months. Chainalysis had already warned of a record month.

Although the cryptocurrency sector is now much better regulated and more and more investors are taking the necessary steps to increase security – such as storing their own coins in hardware wallets – hacker attacks are still a big issue in the cryptocurrency sector, albeit only in relation to the volume traded affect a fraction of the sector.

In one quarter, hackers cause almost half a billion dollars in damage

According to Atlas VPN data , in the third quarter of 2022, criminals stole around $483 million worth of cryptocurrencies through targeted attacks. The number of hacks fell by 43 percent compared to the second quarter. In the first quarter, the damage amounted to around 1.3 billion US dollars.

Even if the damage appears large in absolute numbers and was certainly significant for those affected, in relation to the size of the crypto sector with a value of around $970 billion according to CoinMarketCap, it is not quite as dramatic as it might seem at first glance.

Ethereum, Polkadot and BNB Chain particularly affected

The hacks primarily affected the Ethereum network. A total of 11 attacks on Ethereum blockchain-based protocols caused $348 million in damage. However, considering that most protocols run on Ethereum, this is not surprising. For Polkadot, it was $52 million in just two attacks. While projects on the BNB chain have been attacked 13 times, the damage amounts to only $28 million.

It is important here that the blockchains themselves are not attacked. Instead, it is mainly smart contracts in the DeFi area that cause security gaps.

This quarter could be a record

Chainalysis also deals primarily with the damage caused by cybercrime in the cryptocurrency sector. The figures determined by Atlas VPN for the third quarter correspond to the information from Chainalysis, which expects a record month for October. As Chainalysis announced on October 12, eleven hacker attacks with damage totaling $718 million had already been registered by then.

If the trend of the month continues, the fourth quarter is likely to be the most momentous for the cryptocurrency sector. The BNB chain hack caused a stir this month , in which at least no funds were stolen from other users. Instead, the attackers created over $100 million worth of coins out of thin air.

Business, Comes Next, Computer Chips, Notebooks, TechNews

Intel discontinues Pentium and Celeron for new Intel processor

Image: Intel, Free Stock Picture, MorgueFile.com.
Image: Intel, Free Stock Picture, MorgueFile.com.

Intel is set to retire its long-used Pentium and Celeron CPU brands and has instead opted for a new, unified naming structure for Intel processors.

Starting in 2023, Intel notebooks will be powered by an Intel processor that spans multiple processor technology families.

“Intel is committed to driving innovation for the benefit of users, and our entry-level processor families have been instrumental in raising the standard of PCs at all price points,” said Josh Newman, the company’s interim general manager of Mobile Client Platforms.

“The new Intel processor branding will simplify our offering so users can focus on selecting the right processor for their needs.”

An Intel Pentium chip was first used in a consumer PC in 1993, and many generations have come since then. The Celeron chips were introduced in 1998.

Intel is looking to simplify the entire naming structure, with “Intel Processor” set to join the flagship Intel Core, Intel Evo, and Intel vPro brands.

The idea behind this change is to make it easier for consumers to buy products. However, mostly only the branding will change, since the product lines that the chipmaker plans to serve remain largely the same.

Business, Financial, TechNews

Adobe buys Figma

“The merger of Adobe and Figma will herald a new era in collaborative creativity,” Adobe said in a statement on the multi-billion dollar deal.

The US software manufacturer Adobe has announced the acquisition of Figma. In the morning of September 15, the news site Bloomberg initially announced a potential deal. Citing insider information, followed a little later by official statements from Adobe and Figma .

Image: Financial, Free Stock Picture, MorgueFile.com.

Figma and Adobe: These are the details of the deal

Figma is a platform for collaborative web design. It was previously considered more of a competitor program to Adobe. Now the company is being transferred to the software giant’s portfolio for around 20 billion US dollars. Part of the purchase price will be paid by Adobe in shares. It is the largest known deal in the history of the software manufacturer.

“The merger of Adobe and Figma will usher in a new era of collaborative creativity,” Adobe says, and: “Figma’s web-based multiplayer capabilities will accelerate the delivery of Adobe’s Creative Cloud technologies on the web and make the creative process more productive and make it accessible to more people.”

However, it will probably take a while before the deal is finalized: on the one hand, Figma’s shareholders have to agree to the takeover, and on the other hand, official approvals are required. Adobe expects to close in 2023, by which time the two companies would “continue to operate independently.”

Figma co-founder remains CEO after Adobe acquisition

According to Dylan Field, co-founder of Figma, there will not be a radical change in leadership: “Adobe is determined to continue operating Figma independently, and I will continue to act as CEO and report to David Wadhwani.” Wadhwani is Chief Business Officer of Figma Digital Media at Adobe.

Field also writes about the acquisition: “We have a great opportunity to accelerate the growth and innovation of the Figma platform with access to Adobe’s technology, expertise and creative resources.”

Some things would remain the same for the time being – for example the pricing. Since it is known “that we are in an unpredictable, inflationary environment”, no price changes are currently planned. “And finally, Figma will continue to be free for educational purposes” – that was a crucial part of the negotiation talks with Adobe.

Business, Science, TechNews

World’s largest offshore wind farm: England less dependent on fossil fuels

The British want to make themselves less dependent on fossil fuels with a new offshore wind farm. The energy is transported on land with 390 kilometer long cables.

The Danish energy company Ørsted has implemented what it says is the world ‘s largest offshore wind farm. This is located around 89 kilometers off the coast of Yorkshire in England and produces more than 1.3 gigawatts of energy.

These come from 165 turbines, which can power more than 1.4 million British homes. The entire park is 463 square kilometers. 81 meter long rotor blades from Siemens are installed in the wind turbines. According to Ørsted, these can power an average British home for 24 hours with just one turn.

Image: Offshore Wind Farm, Free Stock Picture, MorgueFile.com.

Pandemic as a challenge

Patrick Harnett, vice president of the UK program at Ørsted, saw the corona pandemic as a challenge for the project. He said: “This project has been an amazing undertaking. Building the world’s largest offshore wind farm during a global pandemic was a challenge the team overcame with flying colors. I am so proud of how our team worked together to safely deliver this remarkable project. A big thank you to everyone involved who contributed to it.”

The UK could also use the new wind farm to strengthen its energy grid and reduce its dependency on fossil fuels, according to Duncan Clark, UK Region Manager at Ørsted. He says:

“The UK is truly a world leader in offshore wind energy and the completion of Hornsea 2 is a tremendous milestone for the offshore wind industry, not just in the UK but globally. Current global events are underscoring more than ever the importance of pioneering renewable energy projects such as Hornsea 2, which is helping Britain increase the security and resilience of our energy supply and lower costs for consumers by reducing our dependence on expensive fossil fuels. ”

Hornsea 3

With the completion of Hornsea 2, however, Ørsted’s work is not over. Another wind farm called Hornsea 3 is planned to be built in the same area. The company secured a contract with the British government for this at the beginning of the year.

However, Ørsted is not only active in the English North Sea. Last year, the company made a deal with Google to build 83 wind turbines in the North Sea of ​​Lower Saxony .

Business, Financial

Investment opportunity lithium: coveted, scarce and expensive

Image: Circuit Board Chip, Free Stock Picture, MorgueFile.com.

Lithium is an elementary building block for lithium-ion batteries. And as the electric vehicle market expands rapidly, so does the demand for lithium. A development that also offers opportunities for investors.

Electromobility is picking up speed worldwide. Last year, more than 6.5 million electric cars were sold around the world, which corresponds to an increase of 108 percent compared to the previous year.

Around 16.5 million electric cars are now moving from A to B worldwide, which is around three times as many as in 2018. That the market share in the entire automotive market is also increasing sharply – from 4.7 percent in 2020 to 9.5 percent now percent – ​​is therefore not too much of a surprise. A trend that is likely to continue in the future as a result of stricter emission standards and climate change.

The management consultancy Boston Consulting Group expects battery cars to account for around 20 percent of all global sales in 2025 – and by the middle of the next decade it will already be 59 percent. In short: The electric car trend is here to stay.

Persistent supply deficit

In the wake of the rapid growth in electric cars, lithium-ion batteries – and the light metal lithium that goes with them – are also becoming increasingly important. So much so that the already existing supply deficit is likely to increase further.

The official institutes see a supply deficit of up to 200,000 tons of lithium around 2030. Other estimates see a deficit of a similar magnitude or, in some cases, an even greater deficit.

The world market prices for lithium carbonate have been taking this expectation into account for months. While a ton of the “white gold” cost less than 100,000 Chinese yuan (about 14,666 USD) last summer, this price is now around 470,000 yuan. And: Against the background of the probable ongoing supply deficit, the price could still have room for improvement.

Interested investors need to take a closer look

Unlike crude oil, copper or zinc, there are no futures markets for lithium. The world market price is therefore the sum of many supply contracts that have been concluded within the industry and which can sometimes differ greatly depending on the quality of the lithium and the key data of the agreement. That doesn’t make it any easier for interested investors.

Since there are no futures contracts on lithium, derivatives on official prices are no longer used as an investment instrument. However, investors who expect a further price increase can participate indirectly in the price development – ​​for example by taking a closer look at individual companies in the industry. Well-known names include Albemarle from the USA, Allkem from Australia and the Chilean chemical company SQM.

In addition to the big names, there are also numerous smaller companies that claim to want to mine and sometimes process lithium in the future.

One of these companies is the German-Canadian company Rock Tech Lithium. A few weeks ago, the company, which is valued at around 260 million USD, concluded a framework agreement with an undisclosed German car manufacturer and agreed, among other things, to cooperate with a subsidiary of Thyssenkrupp.

Lithium hype: seize opportunities and reduce risks

In the search for returns, however, investors should not be too hastily blinded by supposed success stories and consider that smaller companies in particular without major operational business must first make large investments in order to be able to act on the market.

Many investors have also jumped on the lithium bandwagon in recent months. A diversified engagement and a preference for companies with a transparent supply chain and a sharpened ESG profile could therefore be an important prerequisite for successful investments in the lithium market.

Above all, the lithium extracted from South American salt lakes is considered problematic for reasons of environmental and water protection.

Basically, broadly diversified ETFs score above all because they spread the opportunities and risks over several shoulders. Not only is the choice of lithium ETFs — passively managed funds that invest in companies involved in lithium mining or lithium battery production — not only limited, but these ETFs are often new and relatively new also have a relatively small volume.

Investors who are interested in such an ETF should therefore have a certain willingness to take risks.

Investors who are not exclusively focused on lithium and instead are more interested in companies that cover the entire range of e-mobility can invest in a variety of corresponding ETFs that have a much higher volume and cover significantly more companies. For example, the ETF iShares Electric Vehicles and Driving Technology, which is around three and a half years old, is around 700 million USD and distributes the fund volume to over 100 companies.

Be careful: Despite the promising prospects for the lithium and electromobility market, investors are not guaranteed a nice return.

The contents of this column do not constitute investment advice or a solicitation to buy or sell any financial instrument. Past performance is not a reliable indicator of future performance. Investments in the capital market are associated with risks.