Latest News
Japan Cryptocurrency Exchange Hacked, Loses $530 Million
Japan based cryptocurrency exchange, Coincheck lost 58 billion yen, close to $530 million, on Friday because of hacking. Coincheck, which is one of Tokyo’s major cryptocurrency exchange, stopped the sales and withdrawals of the currency NEM, according to its website. Other deposit methods including credit cards have also been stopped and trading of all cryptocurrencies except Bitcoin have been restricted, according to the latest update.
The exchange has already reported the hack to the authorities and to Japan’s Financial Services Agency. According to the company, around 523 million of the exchange’s NEM coins were sent to another account around 3 A.M. local time. The NEM coins were held in a “hot” wallet, which refers to a method of storage that is linked to the internet. The company further added, close to 98% of its digital currency holdings are offline, or in a “cold” storage. Coincheck is ranked fourth by market share on CryptoCompare and owns about 6% of yen-bitcoin trading.
In a press conference, the President of Coincheck, Wakata Koichi Yoshihiro and Chief Operating Officer Yusuke Otsuka said it did not appear that hackers had stolen any other digital currency. The company is now looking at compensating its customers. NEM’s protocol token XEM, briefly fell by more than 20% on Friday trading at $0.85, down from a high of $1.01, according to data from Coinmarketcap. However, little changed for most of the other digital currencies, including Bitcoin.
The recent hack is touted to be bigger than the amount stolen from Mt. Gox in 2014 which was pegged at $340 million. However, the impact on the cryptocurrency market is much smaller given the immense increase in market capitalization. In December last year, South Korean cryptocurrency exchange Youbit also lost 17% of its digital assets leading to its parent Yapian filing for bankruptcy.
According to Morgan Stanley analysts, an estimated $630 million in bitcoin has been lost to hackers by mid December, 2017.
Latest News
Zerodha Reports 23% Profit Decline in FY25 as Revenues Miss Target
Zerodha experienced a challenging FY25, as its revenue fell 11.5% to ₹8,847 crore and net profit dropped 22.9% to ₹4,237 crore. This decline reflects tougher regulatory conditions, lower trading volumes, and increased operational costs in the brokerage market, all of which impacted core earning segments for the company.
Despite these headwinds, Zerodha improved its operating margin to 63.78% and built up significant cash reserves, reporting ₹22,679 crore in bank balances. Salary expenses and director remuneration increased, but disciplined cost controls helped the company maintain profitability and a debt-free balance sheet. The drop in active clients and increased compliance costs further contributed to the profit contraction.
Looking ahead, Zerodha’s resilience is supported by its robust cash position and operational efficiency. Maintaining steady margins, diversifying product offerings, and investing in technology positions the company to withstand future regulatory fluctuations and changing market sentiment reinforcing its status as one of India’s leading brokerage firms.
Latest News
Zoho Pay Debuts as India’s New UPI Challenger, Taking on PhonePe, Paytm, and Google Pay
Zoho Corporation has expanded its fintech portfolio with the launch of Zoho Pay, a UPI-based payments app built to challenge India’s top digital payment giants such as PhonePe, Paytm, and Google Pay. The new app supports peer-to-peer transfers, bill payments, QR-based transactions, and merchant settlements in a streamlined interface. Available as both a standalone app and an integrated feature inside Zoho’s privacy-driven messenger Arattai, Zoho Pay enables users to handle chats and payments in one platform, emphasizing data privacy and Made-in-India innovation.
Through seamless integration with Arattai, Zoho Pay allows users to send or request payments, split expenses, and conduct UPI-based transactions directly in their chat windows. Users can link bank accounts, scan dynamic QR codes, and receive audio confirmations of payments, ensuring speed and security. This design mirrors the simplicity of India’s leading UPI apps but is powered by Zoho’s non-advertising, privacy-first model. The integration aligns with Zoho’s mission to build a self-reliant digital ecosystem, where messaging and money management coexist securely.
In the competitive digital payments market, Zoho Pay differentiates itself through its tight business software integration with apps like Zoho Books, Zoho Payroll, and Zoho Commerce, offering small businesses unified access to payments, billing, and accounting. The company is also expanding its reach with POS devices for merchants featuring UPI QR, card payments, and instant reconciliation tools. With founder Sridhar Vembu’s vision of a ‘Chat + Pay’ ecosystem, Zoho Pay reflects a bold step toward redefining India’s fintech scene with a secure, ad-free, and locally developed alternative to global payment platforms.
Latest News
Meta Expands AI-Powered Reels Translation to Hindi and Portuguese, Enhancing Global Creator Reach
Meta has expanded its AI-powered translation feature for Reels to include Hindi and Portuguese, joining English and Spanish in empowering creators to reach a broader global audience on Instagram and Facebook. Originally launched in August 2025 with support for English and Spanish, this update now allows creators to seamlessly translate and dub their short videos, breaking language barriers across some of the largest Reels markets worldwide. The AI technology mimics the creator’s voice tone and even offers lip-syncing to ensure the translated videos feel natural and engaging for viewers.
This enhancement is especially significant for India, the largest market for Facebook and Instagram, where over 600 million people speak Hindi. Content creators who are not fluent in Hindi can now easily access this vast audience, increasing their reach and engagement across diverse linguistic groups. To maintain transparency, all translated Reels are clearly labeled with “Translated with Meta AI,” and viewers can choose to switch translations on or off based on their preference.
In addition to voice dubbing, Meta is developing features to translate captions and text stickers on Reels, making content more accessible even without sound. These AI translation tools are available free for eligible public Instagram accounts and Facebook creator profiles with over 1,000 followers. This innovation reinforces Meta’s commitment to fostering cross-cultural content sharing and enhancing creators’ ability to connect with audiences around the world through short-form videos.

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