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Binance Bridge Hacked: $100 Million Lost In Cryptocurrency 2022

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Binance  Binance Bridge Hacked: $100 Million Lost In Cryptocurrency 2022 Binance hacks

BNB Chain, a blockchain connected to the Binance cryptocurrency exchange, disclosed a cross-chain bridge exploit that drained approximately $100 million in digital assets.

“There was an exploit affecting the native cross-chain bridge between BNB Beacon Chain (BEP2) and BNB Smart Chain (BEP20 or BSC),” it said last week. “The exploit was accomplished through a sophisticated forging of the low-level proof into a single shared library.”

The exploit on the cross-chain bridge “resulted in extra BNB,” according to Binance CEO Changpeng Zhao, prompting a temporary suspension of the Binance Smart Chain (BSC).

“BNB, which stands for ‘Build and Build’ (previously known as Binance Coin), is the blockchain gas token that ‘fuels’ transactions on BNB Chain,” Binance explained earlier this month.

Since the vulnerability in the BSC Token Hub bridge allowed the unknown threat actor attacker to mint new BNB tokens in an unauthorized manner, no user funds are said to have been impacted.

While the attack entailed the extraction of two million BNB in two transactions, the chain’s suspension avoided the loss of roughly $430 million in cryptocurrency, according to blockchain security firm SlowMist.

It is the latest in a string of big incidents targeting cross-chain bridges (which allow assets to be transferred between blockchains) this year, following the attacks on Axie Infinity, Harmony Horizon Bridge, and Nomad Bridge.

In a similar development, Trend Micro disclosed that Water Labbu, a malicious actor, targeted 45 crypto-based fraudulent websites owned by other criminals in order to redirect victims’ assets to a wallet under their control.

The company stated in a report last week that “the threat actor hijacked the websites of other scammers acting as a decentralized application (DApp) and injected malicious JavaScript code into them in a parasitic way.”

 

 

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Datalex Lowers Guidance: Business Recovery in China Stopped by Lockdowns

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Datalex Airline Guideline  Datalex Lowers Guidance: Business Recovery in China Stopped by Lockdowns Datalex airline

Datalex, an Irish business that develops retail technology for airlines, has issued a warning that continuing lockdowns in China will prevent this year’s annual revenues and profits from returning to pre-Covid levels.
The Dublin-listed company now says that second-half revenues and profitability in China will be “negatively impacted,” contrary to earlier predictions that the Chinese market would experience a considerable comeback.
The group anticipates $22.5 million to $23.5 million in revenues and $5 million to $6 million in adjusted profitability for the entire year.
The company has experienced “increased prospects” as a result of high customer interaction with the shift to digital retail, according to Datalex, yet preparation for the realisation of these opportunities has slowed down activity levels in the services sector.

As several projects are being delayed until 2023, it is now anticipated that services activity levels will be lower than anticipated in H2 2022, according to Datalex. Revenues in 2022 will be unfavourably impacted, whereas growth in 2023 will be positively impacted. While short-term forecasting has been challenging, Datalex CEO Sean Corkery said: “We remain optimistic in the capabilities of our business to grow in the medium to long term.

“Airlines are concentrating on enhancing their digital offerings, and Datalex is ideally positioned to help. As we continue to execute on client renewals and build on our excellent pipeline of potential new customers, I am extremely encouraged by the strong engagement the team is having with current and prospective customers across the globe.

“Additionally, I’m delighted to inform that EasyJet and Virgin Australia’s activation as new customers is going well. All of which we anticipate will lead to significant revenue growth through 2023 and beyond.

After securing Virgin Australia earlier in the year, Datalex announced in September that it had secured EasyJet, referring to the agreement as a “important strategic milestone.”

Due to lower transaction volumes in China, first-half revenue declined 17% to $10.4 million, and operating expenses increased 13% to $13.8 million, resulting in an EBITDA loss of $2.1 million.

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Ireland is the 13th best country for investing in renewable energy

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Ireland 13th Best Country For Renewable Energy  Ireland is the 13th best country for investing in renewable energy 1933449 1024x375

Power generating windmills in remote area

According to EY, Ireland is the 13th most appealing market in the world for investments in renewable energy.

The 40 markets that made up EY’s biennial Renewable Energy Country Attractiveness Index (RECAI) put Ireland in the top half, with the Big Four company noting that the nation has maintained a good position in the rankings.

Following the adoption of the Inflation Reduction Act in August, which is seen as a windfall to the green hydrogen sector since tax credits of up to $3 per kilogramme for 10 years make green hydrogen generated in the US the cheapest kind of hydrogen in the world, the US maintained its place atop the list.

China is still in second place, and 2022 is predicted to be a record year for the nation’s output of wind and solar energy. According to estimates from the China Renewable Energy Engineering Institute, the country will install 156 GW of wind and solar energy this year, an increase of 25% over last year. Germany moved up to third place after reforming its energy laws.

According to Anthony Rourke, head of government and infrastructure consulting at EY Ireland, “energy transition remains at the top of the agenda for government and industry, made all the more urgent in light of the enormous problems confronting the global energy market.”

This may be seen in the impressive pledges made by markets worldwide to promote the use of renewable energy sources and lessen dependency on imported gas. Short-term policy changes are reducing system risks, but more general regulatory support is required.

From Ireland’s standpoint, it’s advantageous that we are leading the transformation in relation to our size as a nation, he said.
According to EY, Ireland is the 13th most appealing market in the world for investments in renewable energy.

The 40 markets that made up EY’s biennial Renewable Energy Country Attractiveness Index (RECAI) put Ireland in the top half, with the Big Four company noting that the nation has maintained a good position in the rankings.

Following the adoption of the Inflation Reduction Act in August, which is seen as a windfall to the green hydrogen sector since tax credits of up to $3 per kilogramme for 10 years make green hydrogen generated in the US the cheapest kind of hydrogen in the world, the US maintained its place atop the list.

China is still in second place, and 2022 is predicted to be a record year for the nation’s output of wind and solar energy. According to estimates from the China Renewable Energy Engineering Institute, the country will install 156 GW of wind and solar energy this year, an increase of 25% over last year. Germany moved up to third place after reforming its energy laws.

According to Anthony Rourke, head of government and infrastructure consulting at EY Ireland, “energy transition remains at the top of the agenda for government and industry, made all the more urgent in light of the enormous problems confronting the global energy market.”

This may be seen in the impressive pledges made by markets worldwide to promote the use of renewable energy sources and lessen dependency on imported gas. Short-term policy changes are reducing system risks, but more general regulatory support is required.

From Ireland’s standpoint, it’s advantageous that we are leading the transformation in relation to our size as a nation, he said.

Ireland investment in renewable energy
In a study of the most desirable nations for renewable energy investment, IRELAND CAME IN 13TH PLACE.
“The integration of renewables has to greatly improve in order to attain net zero. A variety of green energy sources may be incorporated into the grid thanks in large part to distributed energy resources. Additionally, guaranteeing energy supply and achieving net zero global emissions by 2050 will need investment in smart networks.

In the most recent study, Italy outranked Ireland, which had previously ranked 12th.

Ireland got 63.4, lagging behind the US’s top score of 73.3. This was due to Ireland’s inferior performance in concentrated solar power (19.6) and geothermal energy, which were offset by better scores in offshore wind (45.1) and solar panels (46.1). (17.8).

Ireland came in sixth in the normalised GDP chart, ahead of countries like Germany (10th), the UK (12th), France (13th), Spain (14th), and India (15th), and behind countries like Morocco, Greece, Denmark, Jordan, and Chile. The US and China were hanging around the 30th position.

EY also emphasised how dispersed energy networks and smart grids have expanded connectivity and the resulting complexity of cybersecurity problems.

In order to secure vital energy assets, Rourke added that some markets are building or improving their regulatory settings for cybersecurity.

Organizations may take measures to improve cybersecurity, but cooperation between the public and private sectors is necessary to overcome the challenges put forward.

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Top 10 Insurance Companies in the World

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Insurance companies come in a wide range of sizes. There are many ways to measure the size of an insurance company, including market capitalization and sales figures, such as net premiums written in a year or how many policies were sold. Here are the top 10 largest insurance companies by market cap, share, and revenues. KEY Highlights:- Insurance companies are severe players in the global economic game, but they might not be as flashy as banks or hedge funds. When ranking insurance companies, it's essential to categorize them according to their product line. Market capitalization tells you the value of a company's outstanding shares. Some insurance companies are both direct and mutual in ownership, and policyholders retain their rights to the business, meaning that everyone owns everyone else's company. The number one thing that matters when ranking insurance companies is categorizing them according to their product line and then comparing them side-by-side on different dimensions, such as assets, liabilities, and revenues. Largest Insurance Companies by Market Capitalization Market capitalization, or market cap, is the total value of a company's stock, and it is calculated by multiplying the number of outstanding shares by the current share price. This is a quick way of determining a company's value in investors' eyes. Companies with large market caps are generally established conservative investments. They likely experience steady growth and offer the least amount of risk. Mid-cap companies are also established but have high growth potential. Lastly, small-cap companies are often new companies with high growth potential. Investing in these companies poses the most significant risk because they are more vulnerable to economic downturns than the more established large and mid-cap companies. Investors can buy shares of publicly-traded companies in the insurance industry. The largest non-health insurance companies by market capitalization on the world stock exchanges as of Q2 2022 are:  Publicly Traded Non-health Insurance Companies Company NameMarket Capitalization 1. Berkshire Hathaway (U.S.) $714 billion 2. Ping An Insurance (China) $141 billion 3. AIA Group (Hong Kong) $123 billion 4. China Life Insurance (China) $106 billion 5. Allianz (Germany) $89 billion 6. Cigna (US) $76 billion 7. Zurich Insurance (Switzerland) $67 billion 8. AXA (France) $65 billion 9. Humana (U.S.) $55 billion 10. Munich (Germany) $39 billion Market cap data as of March 1, 2022. Source: Yahoo! Finance  Top 10 Insurance Companies in the World Top 10 insurance companies

Insurance companies come in a wide range of sizes. There are many ways to measure the size of an insurance company, including market capitalization and sales figures, such as net premiums written in a year or how many policies were sold.

Here are the top 10 largest insurance companies by market cap, share, and revenues.

KEY Highlights:-

  1. Insurance companies are severe players in the global economic game, but they might not be as flashy as banks or hedge funds.
  2. When ranking insurance companies, it’s essential to categorize them according to their product line.
  3. Market capitalization tells you the value of a company’s outstanding shares.
  4. Some insurance companies are both direct and mutual in ownership, and policyholders retain their rights to the business, meaning that everyone owns everyone else’s company.
  5. The number one thing that matters when ranking insurance companies is categorizing them according to their product line and then comparing them side-by-side on different dimensions, such as assets, liabilities, and revenues.

Largest Insurance Companies by Market Capitalization

Market capitalization, or market cap, is the total value of a company’s stock, and it is calculated by multiplying the number of outstanding shares by the current share price. This is a quick way of determining a company’s value in investors’ eyes. Companies with large market caps are generally established conservative investments.

They likely experience steady growth and offer the least amount of risk. Mid-cap companies are also established but have high growth potential. Lastly, small-cap companies are often new companies with high growth potential. Investing in these companies poses the most significant risk because they are more vulnerable to economic downturns than the more established large and mid-cap companies.

Investors can buy shares of publicly-traded companies in the insurance industry. The largest non-health insurance companies by market capitalization on the world stock exchanges as of Q2 2022 are:

Publicly Traded Non-health Insurance Companies

Company NameMarket Capitalization

1. Berkshire Hathaway (U.S.) $714 billion

2. Ping An Insurance (China) $141 billion

3. AIA Group (Hong Kong) $123 billion

4. China Life Insurance (China) $106 billion

5. Allianz (Germany) $89 billion

6. Cigna (US) $76 billion

7. Zurich Insurance (Switzerland) $67 billion

8. AXA (France) $65 billion

9. Humana (U.S.) $55 billion

10. Munich (Germany) $39 billion

Market cap data as of March 1, 2022. Source: Yahoo! Finance

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