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Hackers Earned nearly $45 million From Bounties in the Last 12 Months

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Ethical Hackers Earned $44.7 Million in 12 Months

According to data acquired by Atlas VPN, ethical hackers earned $44,754,742 million collectively from bug bounties in the last 12 months.

In total, hackers reported 60,000 valid vulnerabilities. Hackers received $979 on average per single vulnerability.

The United States remains the top payer of bounties, rewarding hackers $39,125,265 in the past year. Rewards paid by the US organizations alone account for 87% of the total amount of bounties paid.

Up next is Russia, which granted $887,236 in bounty rewards to hackers. Bonuses awarded by Russian companies make up 2% of the total bounty prizes awarded to hackers.

Organizations from the UK round out the top 3, with $559,215 paid to hackers as bounty rewards. Bounty rewards distributed by UK companies amount to a little over 1% of the total amount of bounties paid in the past 12 months.

Rachel Welch, COO of Atlas VPN, shares her thoughts on the topic: “While bug bounty programs will not solve the cybersecurity talent shortage, organizations can still benefit significantly by outsourcing ethical hackers to identify weak spots in their security measures.”

When it comes to the hackers themselves, US hackers are leading the way. Together the US hackers earned $7,204,299, which accounts for 16% of the total amount of bounty winnings distributed over the last 12 months.

Chinese hackers come in second, commanding $5,355,683. Bounty rewards received by Chinese hackers make up nearly 12% of all bounties paid in the past year.

Chinese hackers are closely followed by Indian hackers, who netted $4,401,251 in bounty winnings. Rewards collected by Indian hackers constitute close to one-tenth of the total amount of bug bounty rewards paid from May 2019 to April 2020.

Technology Companies Paid the Biggest Share of Bug Bounty Rewards

Companies in the computer software industry distributed the biggest share of bounty awards to hackers in the past 12 months. In total, such companies paid out $16,263,982 in bounty awards, which make up more than 36% of the total awards paid.

Next up is companies in the internet and online service industry, which distributed $16,079,195 in bounty rewards to hackers over the past 12 months. Bounty rewards paid by the organizations in the internet and online service sector also account for nearly 36% of the total bounties awarded in the past year.

Companies in the telecommunication industry occupy the third spot. Together, they distributed $2,497,042 in bounty rewards accounting for close to 6% of the total winnings from May 2019 to April 2020.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Interswitch is the Most Valuable African Startup

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Interswitch, the leading payment processing company headquartered in Lagos, Nigeria, is Africa’s most valuable start-up at a US$ 1 billion valuation.

Founded in 2002, Interswitch uses switching infrastructure to connect different banks in Nigeria and powered banks’ ATM cards. Presently, the company has over 11,000 ATMs on its network.

In 2010, Helios Investment Partners bought two-thirds of the company and in the following year, Interswitch bought a 60 percent stake in Bankom in Uganda.

Interswitch owns Verve, Nigeria’s most used payment card, and accounted for 18 million of 25 million cards in circulation in Nigeria. The company also owns Quickteller and recently purchased VANSO, a mobile-focused technology provider to banks.

Like Interswitch, Stripe, the company that acquired Nigeria’s Paystack for over US$200 million, is the most valuable startup in the USA at over US$70 billion valuation.

Klarna, Nubank, Paytm and Grab leads in Europe, Latin America, India and Southeast Asia with valuations of US$10.65 billion, US$10 billion, US$16 billion and US$14 billion, respectively.

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E-commerce Black Friday Sales Estimated to Surge by 40% to 10.2 Billion

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The 2020 holiday shopping season will be unique, as the pandemic shifted consumer behavior from retail stores to online shopping. In response, many retailers moved their services online to not miss out on this year’s profits. Atlas VPN team decided to look into how e-commerce sales are set to perform in the upcoming long weekend.

Researchers predict that the US e-commerce revenue will exceed last year’s earnings by 49.5% on Thanksgiving day, totaling $6.18 billion in revenue. Black Friday is calculated to reach $10.2 billion in sales, exceeding last years numbers by 39.4%

Rachel Welch, COO of Atlas VPN, shares her tips on how to stay safe when shopping online during the holiday season:

“Watch out for too-good-to-be-true deals from unknown sellers, as cybercriminals will also expect to turn a profit during the holiday season, even though they are not selling anything, except maybe a bag full of disappointment.”

 Finally, analysis shows that on the last day of the long and full of special offers Thanksgiving weekend, consumers will go all out to bring record sales for e-commerce businesses, adding up to $12.89 billion.

To look at these five days from a wider perspective, e-commerce companies can expect to earn around 39.72% more than they did last year.

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Alibaba Merchants Sell $40B in First Half Hour of Singles Day 2020, More than 2019 Event Full Sales

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Singles Day 2020 was a roaring success, cementing its position as the world’s biggest shopping holiday. Sales across Alibaba’s platforms during the event totaled $74.1 billion, up from $38 billion in 2019.

According to the research data analyzed and published by Stock Apps, within the first 30 minutes of the event, the gross merchandise volume (GMV) surpassed 2019’s full-event sales, reaching $40.87 billion.

Moreover, instead of live events, Alibaba had 400 company executives and 30 celebrities hosting livestreams. Based on a study by Coresight, the Chinese livestream market is set to rack in sales worth $125 billion in 2020, compared to $63 billion in 2019. The US livestream market is a small fraction of that, valued at $5 billion.

China’s Tech Heavyweights Lose $280 Billion in Market Cap

Alibaba Singles Day 2020 dwarfed other major shopping holidays as has been the trend in previous years.

According to Practical eCommerce, Amazon Prime Day 2020 sales totaled $10.4 billion up from $7.16 billion in 2019. Cyber Monday sales in the US amounted to $7.9 billion in 2020 according to Statista. Black Friday and Thanksgiving added $9.7 billion to the figure to make $17.6 billion for the weekend.

Similarly, in 2018, Singles Day sold $30.8 billion while Prime Day sold $4.19 billion and Thanksgiving weekend got $14.2 billion.

However, the 2020 Singles Day event came in the wake of Ant Group’s suspension of a $37 billion listing. The suspension resulted in a $76 billion drop in Alibaba’s market cap, as the tech giant owns a two-thirds stake in Ant Group. Moreover, China’s regulators released anti-trust draft rules prior to the event, aimed at controlling monopolistic behavior.

Following the release, Alibaba shares plunged by 9.8%, as JD.com shed off 9.2%. Tencent similarly saw a 7.39% drop and Xiaomi fell by 8.18%. For the five companies, there was a combined loss of $280 billion in market capitalization.

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