Daily Column – 12th August 2021

How do you fold your phone?

Samsung is confident in its foldable phone portfolio, because innovation is a circle after all. They have launched two types yesterday: 

  • The Galaxy Z Fold 3, which folds out like a book into a 7.6-inch tablet.
  • Galaxy Z Flip 3, which flips vertically allowing you to relive your early 2000s flip-phone dreams.

They aren’t the first to do so. After postponing the launch due to worries over durability, Samsung finally unveiled its first foldable phone in 2019. It was a clumsy phone that cost $2,000 and was billed as a “expensive experiment.”

This time is different in…well, almost everything:

The Z Fold3 costs $1,800, while the Z Flip3 costs $1,000, bringing the price of a foldable phone closer to that of an iPhone.
Both phones are water resistant, feature upgraded software, and are more durable.
Overall, Samsung must persuade users that foldable phones are more than a gimmick. According to research company International Data Corp, just 2 million foldable phones were supplied last year out of 1.3 billion overall devices.

The biggest Crypto heist!

Hackers stole more than $600,000,000 in Cryptocurrency from decentralised finance (DeFi) network Poly Network on Tuesday, making it one of the largest heists in crypto history. The burglars began returning scoops of their cryptocurrency trail mix, which comprised ether, bitcoin, dogecoin, and hundreds of others, within a day. As of yesterday afternoon, $256 million has been refunded.

The details of how they did it are still being probed, but the hackers claimed in an online Q&A that they discovered a flaw and fled with their loot “to keep it safe.” Also, “for the sake of amusement:).”

What’s the point of returning it?

Poly Network, which warned the cybercriminals that they “would be followed” by law authorities and that it would be “unwise for you to make any more transactions,” may have frightened the robbers.

Zoom in: Illicit behaviour has been increasing in the cryptocurrency area, particularly in the growing field of decentralised finance, which encompasses a range of blockchain-based financial applications. Government agencies and private firms are frantically trying to figure out how to respond.

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