Connect with us

Technology

Hidden Tricks and Tools Embedded in Your Free VPN

Published

on

Virtual Private Network (VPN) - Investors King

By Muyiwa Awosile

Since the Federal Government of Nigeria implemented the ban on Twitter, many Nigerians have resorted to using Free Virtual Private Network (VPN) software to bypass the restrictions put in place by the Internet Service Providers in the country (ISPs) on their networks.

A VPN software works by creating a secure connection between a user’s device and the internet. When you connect to the internet through a VPN software, all the data traffic from your device is sent through an encrypted virtual tunnel and this can make you safer, anonymous and freer on the internet as you’ll be able to access websites and online services that would otherwise be blocked.

There are two main types of VPN software – the FREE ones (which are more popular with Nigerians) and the Premium ones which you have to pay a subscription for. Using a free VPN could actually make you less safe online, cost you more than you realise, and ruin your entire internet experience. Premium VPNs on the other hand offer a lot more protection, for a small fee, without the hidden dangers that Free VPNs expose users to. Before using a free VPN, you need to be aware of the drawbacks associated with them. Five of these are explained below.

Your Security could be Compromised

One of the primary purposes of a VPN is to protect you from hackers but unfortunately some VPNs actually contain malware, adware or other malicious software which can compromise your device leading to security breaches. A lot of the malware is related to advertising as free VPN software developers rely on advertising for revenue.

Online Activity Tracking

A major reason people use VPNs is to protect their privacy while browsing the internet but unfortunately many free VPNs have third-party trackers embedded in the software. These trackers are used to gather data on the user’s online activity, so advertisers are better able to target users with ads. So instead of providing users with privacy, the VPNs are doing the exact opposite, by collecting user information and selling it to the highest advertising bidder.

Limited Data Usage

Many free VPNs limit the amount of data you can use. They do this to push users into upgrading to a paid plan out of sheer frustration.

Slower Internet Speed

Free VPNs can also lead to slower internet speeds leading to a frustrating user experience. This is because traffic from the free version is sometimes deprioritised when compared to the paid or premium versions. Free VPNs can also slow down your internet speeds when targeted ads are displayed. The justification for the ads is that since users are not paying any monthly subscriptions, free VPNs need another way to make money off them.

Potential vulnerability to botnets

A botnet infects a large number of individual computers or devices with malware and harnesses them together to carry out an attack. Some VPN products are designed to harness the processing power from the devices of their free users and offer that power to their paying customers for profit. This is of serious concern as cyber criminals are able to exploit this vulnerability to launch attacks on unsuspecting VPN users.

VPNs are complicated software that require a great deal of investment to create and maintain. They constantly need to keep up with the ever-changing world of internet privacy. That is why Free VPN providers try to cover their costs and generate revenue from their users by embedding hidden tools and tricks. These tactics are not only dangerous and risky but completely negate the principles of security and privacy that VPNs are supposed to be built for in the first place.

Muyiwa Awosile is a Cybersecurity and Data Privacy Consultant and Managing Director of Tros Technologies. 

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.

Fintech

Fintech TagPay Rebrands to Skaleet

Published

on

From today, TagPay will be known as Skaleet, an international fintech company offering a back-end technology platform. Its core banking platform is fully interactive with an ecosystem of banks, fintechs and technology partners.

It has the speed and agility required to quickly launch new personalized services to the market. Skaleet’s ambition is to bridge the gap between complex financial products and customers’ changing needs.

In this new digital world, Skaleet helps financial institutions become faster and more agile in adapting to their customers’ changing needs by offering innovative services. Our range of services allows banks, neobanks and fintechs to stay in the race against the Big Tech threat that is attempting to dominate this market.

Skaleet’s platform offers complete banking solutions for the day-to-day management of retail banking: onboarding, AML-CFT, bank accounting, regulatory reporting, card issue, SEPA, bank accounts, credit engines and a best-of-breed approach to facilitate the integration of key product and technology partners.

Breaking the banking industry’s IT glass ceiling to increase performance and innovation

With its flexible, modular and natively digital banking platform, Skaleet’s ambition is to innovate by offering new services to fully respond to the latest challenges facing the banking and financial markets, as well as to the growth and scalability requirements imposed by the rapid digitalization of the sector.

Skaleet enables banks and financial institutions to leverage its cloud-native platform to accelerate the launch of new financial services that fully meet their customers’ needs.

Yves Eonnet, CEO of Skaleet, said: “Our mission is to support the digital transformation of banking institutions, neobanks and fintech companies. Our ambition is to become the leading technology platform for digital core banking, offering our customers all the financial services they need.”

The company’s mission statement: to put technology at the forefront of the transformation in financial services

Fifteen years ago, Hervé Manceron and Yves Eonnet set out to take advantage of the latest technological innovations to support new ways of providing mobile financial services. This led them to launch TagPay, a technological platform for managing mobile money accounts.

In 2014, eager to respond to the increasing importance of digital technology and changing customer needs, the publisher launched a next generation international core banking system solution. The ambition of this platform: to accelerate the launch of new, competitively priced services. TagPay has developed a cloud-native platform to meet the needs of financial service providers. Cloud-agnostic, agile and scalable, it has quickly become a leading platform for many financial institutions across the world. At the beginning of the year, TagPay reached a new step by announcing its largest funding: €25M from our new investor Long Arc Capital to enrich its offering and accelerate its international growth.

Continue Reading

Social Media

Twitter Recommended Conditions To Lift Suspension Will Be Applicable To Other Social Media Platforms- FG

Published

on

Twitter Tip Jar- Investorsking

The Federal Government says the recommended conditions for the lifting of the suspension imposed on the microblogging and social networking service, Twitter will be applicable to all Over-The-Top and other social media platforms in Nigeria.

The Minister of Information and Culture, Alhaji Lai Mohammed, disclosed this on Monday when he featured on a phone-in programme of TV Continental, “This Morning, ’’ monitored by the News Agency of Nigeria (NAN).

The minister, who did not disclose the recommendations by the Federal Government ministerial negotiation team to engage with Twitter on the suspension, said its report would be submitted to President Muhammadu Buhari.

Mohammed, who headed the team, however, reiterated that the engagements with the microblogging and social media platform had been positive and fruitful.

“All I can say is that the recommendations we are going to make will not only be applicable to Twitter but they will be applicable to all OTTs and other social media platforms in Nigeria.

“Today, we are dealing with Twitter, we don’t want a situation where we will be dealing with Facebook tomorrow and Instagram the next day. Our recommendations will be very comprehensive.

“You will recall that during the 61st Independence anniversary celebration, the president said Twitter will return to Nigeria as soon as they meet the conditions of government.

“Even last night, the ministerial team met under my chairmanship and we reviewed the position of things.

“I want to say that we should wait for the committee to officially give its reports to the president but things are looking very positive and rosy.

“After submitting our reports and recommendations to the president, I will be disposed to say what we agreed and what have been met and what has not been met,’’ he said.

NAN reports that following the indefinite suspension of its operations in Nigeria for activities capable of undermining Nigeria’s corporate existence, Twitter had written to the president seeking engagement over the suspension.

The president subsequently set up the ministerial team led by Mohammed, with other members including Ministers of Works and Housing, Babatunde Fashola and that of Foreign Affairs, Geoffrey Onyeama, to dialogue with Twitter over its suspension.

Other members are the Attorney-General of the Federation and Minister of Justice, Abubakar Malami as well as Minister of Labour, Chris Ngige and that of Communications and Digital Economy, Isa Pantami.

Continue Reading

Fund Raising

Wicrypt, Nigerian Wi-Fi Sharing Startup Secures $1.5M Funding For Expansion

Published

on

Wicrypt-Investors King

A Nigerian blockchain-based Wi-Fi sharing startup, Wicrypt, has raised US$1.5 million in a strategic funding round to help it expand operations into new countries.

Wicrypt is a decentralized mobile internet sharing and monetization network that allows anyone to earn money by sharing their Wi-Fi with others. Users can either download the Wicrypt software and deliver Wi-Fi from their mobile device or purchase a one-of-a-kind Wicrypt Hotspot Creator device.

Wi-Fi providers can customize their customers’ experiences using the Wicrypt dashboard, which includes surveys, ads, and data collection. Wicrypt-enabled devices are all represented by one-of-a-kind NFTs linked to the blockchain. While users using WiFi pay Wicrypt hosts, Wicrypt also rewards hosts with its native coin, $WNT, for having high device uptime.

In 2018, the startup launched in Africa, signing an exclusive agreement to supply internet service to the inhabitants of Enugu, Nigeria. It became profitable in 2020 after being bootstrapped by its founder, and it has now acquired US$1.5 million in investment to help it go even further.

The round was led by AU21 Capital, with participation from Polygon founder Sandeep Nailwal, Inclusion Capital, Outlier Ventures, Chain Capital, Pluto Digital Assets, Onega Ventures, N7 Labs, Cardano and PolkaFoundary.

“While we have formed substantial business partnerships in Africa, this funding allows us to grow into new countries by increasing our marketing efforts,” said Ugochukwu Aronu, chief executive officer (CEO) of Wicrypt.

“Wicrypt is providing last-mile internet to people of the world who need it while leveraging the blockchain by having hosts stake $WNT to become a part of the Wicrypt Network. This ensures overall security of the network and that host do not perform malicious actions while providing internet connections to clients.”

Wicrypt is offering people the option to access the internet in locations where Wi-Fi can be highly expensive and unattainable for many people, according to Nailwal, who added that investing in a profitable company was unusual in the blockchain world.

“By empowering people to share their Wi-Fi and make money, they are making this a win-win situation for all involved, particularly in remote regions where large internet companies are not incentivised to provide coverage,” he said.

Continue Reading




Advertisement
Advertisement
Advertisement

Trending