cyberattack

Indian conglomerate Tata Group is facing one of its toughest years in recent memory. The combined market capitalization of its 16 publicly traded firms has plunged by more than $75 billion, with over $20 billion lost since September 19 alone. The sharp downturn is being driven by new U.S. visa restrictions and a crippling cyberattack on Jaguar Land Rover.

Visa Shock from the U.S.
The hardest hit has been Tata Consultancy Services (TCS) — the crown jewel of the group and a symbol of India’s tech power. TCS shares dropped more than 8% last week, marking their worst performance since 2020. Other Indian IT giants like Infosys and Wipro also suffered.
The trigger was President Donald Trump’s move to raise the H-1B visa fee to $100,000, dramatically increasing costs for Indian IT firms operating in the U.S. Analysts at Bloomberg Intelligence warned that companies such as TCS may stop pursuing contracts requiring extensive on-site presence in America — a shift that could weigh heavily on growth over the coming quarters.

Cyberattack Cripples Jaguar Land Rover
Another blow came from a cyberattack that paralyzed Jaguar Land Rover (JLR) production plants. The automaker confirmed that vehicle output will remain suspended until at least October 1, losing around $70 million per week. According to the Financial Times, JLR had no cyberattack insurance coverage, meaning the company must absorb the full cost of the disruption.
The UK government stepped in, pledging a loan guarantee of up to £1.5 billion ($2 billion) to help JLR stabilize its supply chain. Still, analysts warn that if production remains halted until November, revenue losses could exceed $4.7 billion.

Wider Impact Across the Group
Shares of 12 out of Tata Group’s 16 companies are down this year. Tejas Networks has lost half its market value, while Trent and Nelco have each dropped by nearly one-third.
Geopolitics adds further strain. U.S.-India relations have soured after Washington imposed new tariffs on Indian goods, while New Delhi has continued purchasing Russian oil — fueling additional trade tensions.

#stockmarket , #cyberattack , #TRUMP , #Tariffs , #CryptoNews

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Trezor, a hardware #wallet provider, recently acknowledged that a security breach involving their third-party email service resulted in a series of fraudulent emails being sent to their customers over the last 12 hours.
On January 24, #Trezor issued a statement revealing that they had identified an unauthorized email, which falsely claimed to be from the company, disseminated by a third-party email service they use.
The deceptive email, sent from "noreply@trezor.io," falsely instructed users to update their "network" or face the risk of losing their funds.
The email contained a link leading to a website that asked users to input their seed phrase.
Trezor has reported no instances of users losing funds due to this phishing scam, and there are no indications that any Trezor users have been duped by this fraudulent scheme.

Trezor Says it Has Deactivated the Malicious Link
Trezor has informed its customers that they have effectively neutralized the harmful link and assured them that their funds are secure as long as they haven't entered their recovery seed.
"We rapidly disabled the malicious link in the email, significantly reducing the threat's potential impact!"
However, Trezor has advised customers who did input their recovery seed to move their funds to a new wallet immediately.
According to Trezor's ongoing inquiry, an unauthorized party accessed their email address database, primarily used for newsletters, and then sent the fraudulent emails using a third-party email service.
Recently, on January 23, MailerLite, an email marketing software company, reported a security breach. This incident led to a spate of phishing emails exploiting the branded domains of various companies, including Cointelegraph, WalletConnect, and Token Terminal.
It remains uncertain whether Trezor uses the same email domain provider as those affected.
Digital asset attorney Joe Carlasare recounted his experience of receiving the phishing email in a post, labeling it as a “sophisticated scam.”
Exploring the Link Between Support Portal Breach and Recent Hack
There is speculation that the recent #cyberattack might be connected to a prior security breach involving Trezor's support portal, where the personal information of approximately 66,000 users was exposed on January 17.
Despite this breach, the company has stressed that no recovery seed phrases were compromised as a result of the incident. At that time, Trezor, the hardware wallet provider, took immediate action to limit unauthorized access and has been actively reaching out to affected users.
It's important to highlight that this is not the first instance where Trezor has encountered attempts to compromise user assets. Despite its reputable standing in the cryptocurrency hardware wallet industry, Trezor has faced various security challenges in recent years.
In February of the previous year, Trezor issued a warning to users about a phishing attack designed to deceive investors into disclosing their recovery phrase on a counterfeit Trezor website.
Additionally, in May, the cybersecurity firm Kaspersky reported the emergence of a counterfeit hardware wallet posing as a genuine Trezor product. This deceptive device used a substituted microcontroller to gain access to a user's private keys, enabling fraudsters to steal funds.

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“