Crypto Romance Scams on the Rise; Flipkart Venture to Invest in Six Early-Stage Tech Startups: Tech Market Roundup

Crypto Romance Scams on the Rise; Flipkart Venture to Invest in Six Early-Stage Tech Startups: Tech Market Roundup

Here are some quick tech catch for you so that you stay updated with the latest crypto and tech news

Good morning Tech Fam, here's a quick tech update for you to catch on:

What's new today: Coal India tests waters for wider use of drone tech; Elon Musk targets ad tech firms in the latest Twitter battle.

Fast-Trach Insights: Asian women on Twitter are coming for your crypto wallet; Flipkart Ventures announced to invest in six early-stage tech startups as part of its accelerator program.

Welcome to the world of crypto romance scams, where you're weaved with all sorts of believable stories and affection just to take hold of your crypto wallets. Cryptocurrency investors lost more than US$80 million in cryptocurrency investment Scams since October, up 1,000 percent from the fall of 2019, according to US Federal Trade Commission (FTC) data. So how can cryptocurrency enthusiasts stay safe?

Since finding a bottom in mid-June, ether has massively outperformed bitcoin as investors anticipate a major upgrade to the Ethereum blockchain. Bitcoin hit a low of US$17,601 on June 19 and is up around 31% since then as of Friday's trading price, according to CoinDesk data.

Coal India Limited's mining exploration and planning arm, the Central Mine Planning and Design Institute (CMPDI), is conducting assessments on the wider rollout of drone technologies in the mining and operations areas of the CIL subsidiaries. CMPDI said the use of drones is being considered for data collection which would enable the detection of underground fires in coal pits and waterlogging.

Billionaire entrepreneur Elon Musk, who is attempting to walk away from his deal to acquire Twitter Inc, is seeking documents from advertising technology firms as part of his quest to gain more information on bot and spam accounts on Twitter, according to filings in a Delaware court on Thursday.

Flipkart Ventures, the US$100 million venture fund set up by Flipkart, announced to invest in six early-stage tech startups as part of its accelerator program. The six startups will receive an equity investment of up to US$500,000 from Flipkart and undergo 16-week mentorship under the 'Leap Ahead program.

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

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