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Uber Covered Up Massive Data Breach

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Uber Covered Up Massive Data Breach, Startup Stories, Latest Business News Updates, UBER COVERED DATA BREACH 2017, Uber Paid Hackers, Uber Data Breach Lawsuit, Latest News on Uber Data, Breaking News on Uber Data, Hackers Stole Data From Uber, Uber Protect Massive Data Breach, Uber Give Money To Hackers

Uber the global cab aggregator, covered up a major data breach which occurred in October 2016 by paying the hackers $ 100,000. The breach exposed the data of some 57 million accounts of the ride service provider. The personal information of about 7 million drivers along with the license information of 600,000 US drivers was also stolen. However, the company claims the information was never used by the hackers.

Uber’s new CEO, Dara Khosrowshahi said the employees responsible for handling the data breach were fired for covering up the incident after the matter was brought to his attention. “None of this should have happened and I will not make excuses for it,” he said in a blog post on the company website. “While I can’t erase the past, I can commit on behalf of every Uber employee that we will learn from our mistakes,” he added.

Last year, Uber faced multiple scandals including sexual harassment allegations, a lawsuit alleging trade secrets theft and multiple federal criminal probes. At the time of the hack, Uber was negotiating with US regulators investigating separate claims of privacy violations. The company, according to Bloomberg, had a legal obligation to report the hack to regulators and to drivers whose license numbers were taken.

Two hackers gained access to GitHub and all the proprietary information used by Uber including names, email addresses and mobile phone numbers of Uber users around the world. New York Attorney General Eric Schneiderman launched an investigation into the hack on Tuesday. A customer also sued the company for negligence over the breach on behalf of the users affected, seeking a class action status.

Uber’s Chief Security Officer Joe Sullivan and a deputy Craig Clark were the two employees fired for their role in hiding the security incident. VCCircle reported, Kalanick was informed about the breach a month later. A board committee tasked with investigating the breach concluded neither Kalanick nor Uber’s general counsel of the time, Salle Yoo, were involved in the decision to not disclose the stolen data.

In an attempt to restructure the security teams and processes, Matt Olsen, former General Counsel of the US National Security Agency, was hired by the company. At the same time, cybersecurity firm owned by FireEye Inc., (FEYE.O,) Mandiant, will be investigating the security breach.

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Setu Builds Fintech Powerhouse Leadership Team as Pine Labs IPO Nears

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Pine Labs

Setu, the API infrastructure platform and subsidiary of Pine Labs, has significantly strengthened its leadership by appointing Prashanth Nimmagada (ex-Razorpay) as Chief Technology Officer, signaling its commitment to innovation in India’s dynamic fintech landscape. Alongside Nimmagada, Setu has welcomed other top industry talent: Vijeth Pandit (ex-Razorpay) as Chief Product Officer, Ramkumar Thirumurthi (ex-Razorpay, co-founder Actyv.ai) as Chief Revenue Officer, Nikhil Ratanpal (ex-PhonePe) as Director of Product Development, and Santosh Subramanian (ex-Yes Bank, Wibmo) as Head of Finance. These high-profile hires accompany Anand Raisinghani’s (ex-SAP India) appointment as CEO, underscoring Setu’s focus on building a strong, experienced leadership bench to drive future growth.

Setu specializes in providing API-based digital financial infrastructure for services such as UPI, bill payments, KYC, and digital signatures, while also operating as an RBI-licensed NBFC Account Aggregator. With this expanded leadership team—drawn from India’s leading fintechs—Setu is well-positioned to accelerate the development of scalable, API-driven financial solutions for banks, fintechs, and enterprises. The influx of expertise from Razorpay and PhonePe veterans will bolster Setu’s technical capabilities and strategic partnerships, ensuring it remains a key enabler in India’s rapidly maturing digital public infrastructure ecosystem.

This leadership overhaul comes as parent company Pine Labs prepares for a major IPO, aiming to raise ₹2,600 crore through a fresh share issue after turning profitable in FY25. Setu’s enhanced leadership reinforces the broader group’s ambitions for international expansion, technological innovation, and financial performance. As Setu solidifies its role at the forefront of India’s fintech evolution, the company is poised to deliver advanced financial infrastructure solutions that support the country’s growing digital economy and drive Pine Labs’ strategic momentum.

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Sundar Pichai Reaches Billionaire Milestone as Alphabet CEO

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Sundar Pichai, the visionary CEO of Alphabet Inc., has officially entered the ranks of global billionaires, accomplishing this rare feat after a decade at the helm of one of the world’s most influential tech giants. Pichai’s net worth hit $1.1 billion—according to the Bloomberg Billionaires Index—fueled by Alphabet’s incredible market performance and the company’s growth of more than $1 trillion in value since early 2023. Achieving billionaire status without being a founding member sets Pichai apart, highlighting his significant impact among non-founder tech leaders.

Born in Tamil Nadu, India, Pichai’s success story is rooted in humble beginnings. He spent his childhood in a modest two-room apartment, only gaining access to a telephone at age 12. A scholarship took him to Stanford University in 1993, with his family making great sacrifices for his education. After joining Google in 2004, Pichai played a pivotal role in the development of Chrome and rose steadily, ultimately becoming CEO in 2015. His leadership through Alphabet’s restructuring and his stewardship over high-growth areas like YouTube, Google Cloud, and Google Play have been critical to the company’s success.

During his tenure, Pichai has championed aggressive investments in artificial intelligence and cloud infrastructure, positioning Alphabet at the forefront of technological innovation. While his annual salary sits at $2 million, the majority of his fortune stems from stock awards and financial incentives tied to performance. Pichai’s journey exemplifies the rise from modest beginnings to extraordinary success, serving as an inspiration and proving that transformative leadership and strategic vision can redefine what’s possible—even without a founder’s equity stake.

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IIT Hyderabad Unveils Palyanka, Heavy-Lift Drone for Air Ambulance Use

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Hyderabad - Drone

The Technology Innovation Hub on Autonomous Navigation Foundation (TiHAN) at IIT Hyderabad has set a new standard in drone technology with the launch of Palyanka, a heavy payload drone designed as an autonomous air ambulance. Capable of carrying up to 200 kg, Palyanka is engineered to swiftly transport patients, medical equipment, or critical cargo across challenging terrains, bypassing traditional barriers like road congestion and remote inaccessibility. This advanced UAV operates autonomously, making it highly effective for rapid response in both urban and rural emergencies, and stands at the forefront of disaster relief operations in scenarios such as floods and fires.

Built for versatility, Palyanka doesn’t just function as an air ambulance. Its robust design enables use in rescue missions, cargo deliveries, and even as an air taxi for metropolitan connectivity. Inspired by the Sanskrit word for palanquin, the name “Palyanka” reflects the drone’s role as a safe and efficient carrier. All components, from conceptual design to IP, have been developed in-house at IIT Hyderabad, ensuring the drone meets stringent standards for durability and performance under extreme conditions.

With a development journey spanning over five years and led by Prof. P. Rajalakshmi, TiHAN’s team has transitioned from early drone prototypes to a full-scale, high-capacity solution like Palyanka. The team is now preparing pilot projects in hilly terrains and working on further enhancing the drone’s endurance with innovative heat-resistant materials. By pioneering such indigenous solutions, IIT Hyderabad’s TiHAN is transforming emergency medical services and logistics, marking a pivotal advancement in India’s urban mobility and public safety landscape.

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