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Account takeover is on the rise: how to protect yourself

KUALA LUMPUR, MALAYSIA – Media OutReach – 28 October 2022 – Everyone has a friend who has been subject to account takeover attack. With 24 billion exposed accounts available online, this type of identity theft is now rampant in the digital domain. This article from OctaFX security experts explores the nature of account takeover attacks and advises on how to protect yourself from them.

A recent research by Digital Shadows showed that more than 24 billion exposed credential pairings are available for sale online. That is a 65 per cent increase from 2020, probably due to more sophisticated malware and social engineering, as well as improved credential sharing.

With passwords such as ‘123456’ still accounting for more than one hundred million exposed cases, account takeovers are bound to continue. However, there are ways to avoid them, which we will cover later in the article. First, let’s consider whether account takeover (ATO) is something that everyone really has to worry about.

Account takeover: how it happens

The ATO attacks are somewhat similar to burglary. Fraudsters or hackers either crack your password using special software—just as burglars do to open the doors of a building—or get it from you through social engineering and dedicated malware. Then they make it impossible for you to log into your account by changing the password. Unlike the case with burglars, you can lose all your sensitive information, as well as your money, at once. After online fraudsters take all they want from your accounts, they might sell it on the dark web as part of a database consisting of such accounts.

There are several most common types of account takeover attacks carried out to steal your credentials:

  • Social engineering. These types of attacks typically use phishing emails from a service or organisation you are expected to trust, such as your bank, a broker, or a payment system. This email attempts to steal your personal information, including logins and passwords. Social engineers might also call you (that’s called vishing) and pretend to be bank representatives or customer service workers of some of the services you use. Then they attempt to trick you into giving them your login credentials or other sensitive information.
  • Malware. It’s easy to download malware accidentally. It may look just like another message from a client with an attached file, or as a file of a book you wanted to read so much. However, if you open it, there’s almost no way back—the program can encrypt all the files on your computer and block your system. The only way to decrypt the files and unblock the system is typically a hefty ransom.
  • Automated attacks. This type of ATO attack involves brute-forcing passwords, credential stuffing, where credentials obtained from an attack on one service are used for logging into other services, and password spraying, where a few common passwords are used for logging into different accounts.
  • Cyber attacks. Hackers might exploit vulnerabilities in applications and sites to obtain their user databases with logins and passwords. Then they either sell the databases on the dark web or try to use them themselves.

Five tips from OctaFX on how to protect your accounts from takeover

The OctaFX security experts have come up with several important rules that every internet user must follow to protect their accounts from cyber attacks:

  • Always use strong passwords. Many strong passwords. Ideally, let each of your accounts have its own password. For critical accounts, create passwords longer than ten characters, with combinations of upper-case and lower-case letters, numbers, and special characters. Use password managers, such as KeePass, to store your passwords.
  • Use MFA (multi-factor authentication), such as 2FA (two-factor authentication), to confirm your identity via email notification, smartphone, PIN, fingerprints, or facial recognition. An alternative to MFA is an authenticator app, which generates random six-digit codes every thirty seconds that you must enter when trying to log into your account.
  • Don’t use your work email address for personal use. Preferably, use multiple personal email addresses.
  • Don’t save your bank cards with any online store. When buying something on the internet, make sure the site you are using is reliable and secure.
  • Don’t use public Wi-Fi or any other public network when logging in to important accounts.
  • Don’t follow suspicious links and don’t download attachments from suspicious emails that you have not seen before.

Preventive measures against potential ATO attack

Don’t panic. If you received a message indicating that someone is trying to log into your account, check its login history and the devices that have access to it, if such information is available. If anything seems suspicious to you, or you know for certain that it wasn’t you who entered the account, change your password immediately. Look carefully if any information of yours has been altered or removed, and try to recover it.

Four steps to take after an ATO attack

  • Try to regain access to your accounts. If you are lucky and the fraudsters haven’t changed your password or removed your recovery phone number, you can access your account and change the password yourself. Remember to do it quickly!
  • If you cannot log into your account any more, try contacting the support team of the service or site with which you have the account. Ask them to block your account. Be ready to provide evidence proving that you owned the account in the first place, as well as your identity documents.
  • If cybercriminals took over your primary email account, make sure they cannot access other platforms and services linked to it, especially the ones with your bank card added as a payment method. Ideally, call the bank and ask to block all the cards you used for internet payments. Try to remove the compromised email from all accounts you still have control over. Criminals will easily log into most of them, having access to your email.
  • If your work email is under attack, immediately notify your employer and ask the tech department to block all access the email account has to sensitive business information.

An account takeover is something anyone may encounter at some point in their internet life. Following the above rules significantly reduces the risk of becoming a victim of ATO and losing all your most important accounts at once.

Hashtag: #OctaFX

The issuer is solely responsible for the content of this announcement.

About OctaFX

is a global broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services utilised by clients from 150 countries who have opened more than 12 million trading accounts. Free educational webinars, articles, and analytical and risk management tools the broker provides help traders reach their investment goals.

The company is involved in a comprehensive network of charity and humanitarian initiatives, including the improvement of educational infrastructure, short-notice relief projects, and supporting local communities and small to medium enterprises.

In the APAC region, it managed to capture the ‘Decade Of Excellence In Forex Asia 2021’ award and the ‘Best Forex Broker Malaysia 2022’ by Global Banking And Finance Review, World Finance, and Cfi.Co, respectively.

A New Campaign Sheds Light on the Threats of Wild Meat Consumption

An innovative new campaign launched by WWF puts the spotlight on two serious threats – risks to public health and risks to nature – as the organization works to reduce the consumption of wild meat in Vietnam, Laos, and Cambodia.  

Advisory Board of the CEGGA Program Endorses its Achievements

On 28 October 2022, the Advisory Board of Team Europe’s good governance program “Citizen Engagement for Good Governance, Accountability and the Rule of Law” (CEGGA) held its final review meeting of the first phase to present and assess the achievements of implementation from 2017 to 2022.

Lao Soldier Found Dead After Stabbing his Partner and Son in Savannakhet

The authorities also discovered his motorbike lying nearby.

An army officer from the 208 military camp died by suicide after stabbing his partner and son at their home in Kaysone Phomvihane District, Savannakhet Province on Tuesday.

TERRAOIL SWISS AG: Terraoil Announces Capital Increase

Capital Increase Recorded in the Commercial Register

STEINHAUSEN, SWITZERLAND – EQS Newswire – 28 October 2022 – Terraoil Swiss AG (“Company”), an energy company with a strong focus on the Mediterranean is pleased to announce a share capital increase which was completed by the Company on October 13, 2022 and published in the Swiss Official Gazette of Commerce on October 26, 2022.

The capital increase, which was authorized in the Annual General Meeting held on October 22, 2020, results in a total of 161,971,463 registered shares at CHF 0.01 issued and outstanding (previously 142,886,508). Total share capital is now CHF 1,619,714.63 (previously CHF 1,428,865.08). The newly issued registered shares were paid-in by offsetting claims of CHF 15,112,412.00, for which the subscribing party received 19,084,955 registered shares.

If you are an Terraoil shareholder and would like additional information, contact Peter Krempin either via email investors@terraoil.swiss or by telephone at +41 71 544 01 20.
Hashtag: #Terraoil

About Terraoil Swiss AG

Terraoil is an international energy company with a focus to identify and advance business opportunities in the upstream oil and gas and renewable energy sectors in the Mediterranean region.

https://terraoil.swiss

Terraoil forward-looking statements

This media release serves informational purposes and constitutes neither an offer to sell nor a solicitation or an advertisement to buy any shares of Terraoil Swiss AG in any jurisdiction. This media release does not constitute a prospectus within the meaning of Article 35 et seqq. of the Swiss Federal Act on Financial Services. In addition, investors should seek advice from their bank or their financial adviser. This media release and the information contained therein are not being issued for the purpose of selling shares in the United States of America, Australia, Canada, Japan, the United Kingdom, or the European Economic Area and must not be distributed within or to such countries or via publications with a general circulation in such countries.

This media release contains forward-looking statements such as projections, forecasts, and estimates. Such forward-looking statements are subject to certain risks and uncertainties which may cause actual results, performance, or events to differ materially from those anticipated in this media release. Readers should therefore not rely on these forward-looking statements. The forward-looking statements contained in this media release are based on the views and assumptions of Terraoil Swiss AG as of this date and Terraoil Swiss AG does not assume any obligation to update or revise this media release.

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Cyberport Venture Capital Forum 2022 Commences CIN 5th Anniversary with Facilitated Total Investment over HK$1.7 billion

HONG KONG SAR – Media OutReach – 28 October 2022 – The Cyberport Venture Capital Forum (CVCF), Cyberport’s premier annual venture capital event, commenced at Cyberport. This year’s event lasts two days and runs in a hybrid format. With the theme of “Thriving in the Dynamic: Refocusing for Growth“, CVCF 2022 gathered over 100 global venture experts and entrepreneurial leaders to discuss the latest situation of the global venture capital market, investors and start-up financing strategies, new opportunities in Hong Kong and the Greater Bay Area (GBA) markets, as well as the development of start-ups and venture capital prospects in the field of smart living.

Cyberport Venture Capital Forum (CVCF) kicked off today, discussing the new situation of the global venture capital market, investors and start-up financing strategies, new opportunities in Hong Kong and the Greater Bay Area (GBA) markets, as well as the development of start-ups and venture capital prospects in the field of smart living. The 5th Anniversary Celebration of the Cyberport Investors Network (CIN) is held on the same day. (From fourth right to third left) Simon Chan, Chairman of Cyberport, Cindy Chow, former Chairperson of CIN Steering Group, Hendrick Sin, new Chairperson of CIN Steering Group and Peter Yan, Chief Executive Officer of Cyberport.

Cyberport Venture Capital Forum (CVCF) kicked off, discussing the new situation of the global venture capital market, investors and start-up financing strategies, new opportunities in Hong Kong and the Greater Bay Area (GBA) markets, as well as the development of start-ups and venture capital prospects in the field of smart living. The 5th Anniversary Celebration of the Cyberport Investors Network (CIN) is held on the same day.

(From fourth right to third left) Simon Chan, Chairman of Cyberport, Cindy Chow, former Chairperson of CIN Steering Group, Hendrick Sin, new Chairperson of CIN Steering Group and Peter Yan, Chief Executive Officer of Cyberport.

In addition, the 5th Anniversary Celebration of Cyberport Investors Network (CIN) was held and announced Hendrick Sin, Co-Founder, Executive Director and Vice Chairman of CMGE Technology Group Limited the new Chairperson of Cyberport Investors Network Steering Group.

In this morning’s opening session, Professor Sun Dong, Secretary for Innovation, Technology and Industry of the Hong Kong Special Administrative Region (HKSAR) Government, delivered opening remarks. Simon Chan, Chairman of Cyberport, delivered welcoming remarks, together with Peter Yan, Chief Executive Officer of Cyberport, Cindy Chow, former Chairperson of CIN Steering Group and Hendrick Sin, new Chairperson of CIN Steering Group co-hosted the opening ceremony and officially kicked off the event.

Professor Sun Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government said in his opening speech,As announced by the Chief Executive in his Policy Address last Wednesday, we are promulgating the Hong Kong Innovation and Technology Development Blueprint which is going to lay out the future directions and major strategies for the I&T development in Hong Kong from the top-level perspective. The Government will also establish the Office for Attracting Strategic Enterprises to be led by the Financial Secretary for attracting strategic enterprises around the world. We will be working closely with this Office to attract top-notch I&T enterprises and talents to Hong Kong to strengthen the local I&T ecosystem and to power up the development of tech industry of Hong Kong. I trust that you share my excitement for the future of Hong Kong’s I&T landscape.”

Simon Chan, Chairman of Cyberport, in his welcoming remarks said, “Technological innovation was one of the key focuses at the recent 20th Party Congress. The Central Government emphasises science and technology as our primary productive force, and innovation as our primary driver of growth. In Hong Kong, the latest Policy Address laid out forward-looking and targeted measures to boost I&T advancement, expand tech talent pipeline, and attract new enterprises which are representative and with high potential to set foot in Hong Kong. With these new blueprints in place, we are encouraged by the promising outlook for I&T entrepreneurship. Cyberport is fully committed to accelerating start-up growth by enhancing the critical capability of fundraising for entrepreneurs. As a tech investor, Cyberport strategically leverages Cyberport Macro Fund (CMF) and Cyberport Investors Network (CIN) to drive investment from the local and global arenas, empowering start-ups’ expansion to the Mainland and overseas.”

Cyberport’s start-up with good fundraising performance

Despite the sluggish performance of the global venture capital market due to market uncertainties, the fundraising of Cyberport community companies has performed well over the past year. From October 2021 to September 2022, the Cyberport community companies have raised more than HK$15.5 billion, a significant increase of 176% compared to the same period last year, with a cumulative fund of HK$34.4 billion. Cyberport has been promoting and facilitating investment matching and supporting start-up fundraising through the Cyberport Macro Fund (CMF), with satisfactory performance during the same period. From October 2021 to September 2022, Cyberport injected capital through the CMF into three Cyberport start-ups, including GRWTH (EdTech), Wada Bento (FoodTech) and AVALON StreiTech (HealthTech). Since its establishment in 2016, CMF has approved a total of 25 projects, attracted co-investment of HK$1.55 billion, and raised a total of more than HK$1.725 billion, with an investment ratio of 1:9.

CIN 5th anniversary with accumulated investments over HK$1.7 billion

Cyberport Investors Network (CIN) has been helping the Cyberport start-up community to raise funds and provide investment insights and experience to promote the growth and development of start-ups. From October 2021 to September 2022, the CIN facilitated investment of around HK$580 million, with a year-on-year growth of around HK$80 million. Since its establishment five years ago, CIN has maintained more than 150 corporate members, including venture capital funds, private equity funds, angel funds, family offices, corporate venture capital, and more than 25 Greater Bay Area (GBA) investment members.

The CIN gets encouraging results that has facilitated investments of over HK$1.7 billion in total, supporting 67 projects in the process. Cyberport is thankful for the excellent leadership of Cindy Chow, the Executive Director, of Alibaba Hong Kong Entrepreneurs Fund in the past two years, and announced at the forum that Hendrick Sin, Co-Founder, Executive Director and the Vice Chairman of CMGE Technology Group Limited will be the new Chairperson of Cyberport Investors Network Steering Group.

Cindy Chow, former Chairperson of Cyberport Investors Networking Steering Group said, “My three years in this position have been very rewarding. Although tech investment has witnessed many ups and downs in recent years, I am proud to share that above all CIN has largely come out on top. We have further bolstered our partnership with the Cyberport Macro Fund to facilitate deal flow and provide more targeted matching. The macro-environment will remain challenging in the near term, and start-up fundraising will remain difficult. Nevertheless, CIN will continue to support the Cyberport ecosystem by bringing in more international investors. Meanwhile, we will carry on to engaging with our members based on their sector interests and stage appetite to help them identify the right investment opportunities, thereby enhancing Cyberport start-ups’ fundraising and deal-making capabilities.”

Regarding CIN’s future, Hendrick Sin, new Chairperson of Cyberport Investors Network Steering Group said, “It is indeed an honour and a pleasure for me to take up the baton and carry on the vital mission of CIN. We’ll step up CIN’s strategic collaboration with members and strengthen the link between industry organisations and Cyberport start-ups. We’ll also organise more activities to help start-ups improve their fundraising and deal-making skills. We’ll amplify our impact by continuing to expand and diversify CIN’s membership, and align investors more closely with Hong Kong’s current and upcoming I&T needs. This includes engaging more investors from the GBA and across the world to review investment opportunities from the Cyberport community.”

Analysis of I&T and investment hot topics

This year focuses on revealing new drivers of market. There are three key panel discussions inviting guests including Rebecca Fannin, founder of Silicon Dragon, an internationally renowned venture capital platform, and representative from Quest Ventures, Hony Capital, etc. They featured the current macroeconomic trends and regional political landscape. Duncan Chiu, HKSAR Legislative Council Member (Technology and Innovation), together with industry leaders such as Cindy Chow, Executive Director of Alibaba Hong Kong Entrepreneurs Fund, reviewed Hong Kong’s I&T ecosystem. Hendrick Sin, Co-Founder, Executive Director and the Vice Chairman of CMGE Technology Group Limited, and many experts gave their insights on the investment potential of the GBA.

There were many sessions to explore a number of I&T hot aspects including Green Finance, HealthTech/ MediTech, Metaverse, BioTech, CleanTech, ConstructionTech and Artificial Intelligence (AI), etc. Dr Kai-Fu Lee, Chairman and CEO of Sinovation Ventures; President of Sinovation Ventures Artificial Intelligence Institute, shared his predictions on how our world will be reshaped by AI. Dr Finian Tan, Founder & Chairman of Vickers Venture Partners, analysed the latest development in emerging technologies such as CleanTech, BioTech and other energy aspects.

Smart Living Venture Day and Start-up Workshop tomorrow

Smart Living Venture Day, another notable event at this year’s forum, will be held tomorrow (28 October) for the first time. Under hybrid format, the event brings together more than 20 industry leaders, scholars, investors and start-ups to discuss the development of EdTech, ArtTech, GeronTech and SocialTech. Star speakers include John Tsang, Founder of Esperanza, Dr Joseph Wong, Executive Director, Hong Kong Design Centre, Dr Carmen Ng, General Manager (Elderly Services) of the Hong Kong Housing Society, Francis Ngai, CEO of Social Ventures Hong Kong, etc.

Start-up Workshop will be held in the afternoon, where business experts will provide free consultation services and financing strategies. There are also interactive sessions on the Start-up Clinic online platform. Experts will provide free one-to-one consulting services, covering topics such as marketing, law, accounting and financing strategies.

The CVCF online platform will open for one month, providing a series of forums and seminars, and an online system to match start-ups and investors, as well as Innovator Showcase providing more than 20 onsite booths and over 100 online booths for start-ups to showcase their innovative technology solutions, submit project proposals and get an opportunity to match up with prospective investors, ensuring a comprehensive platform for business development and assist start-ups in securing opportunities for additional venture capital.

For more details about the CVCF 2020 programme schedule and full speaker line-up, please visit: http://cvcf.cyberport.hk/

Hashtag: #Cyberport

About Cyberport

Cyberport is an innovative digital community with over 1,800 members including over 800 onsite and 1,000 offsite start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, wholly owned by the Hong Kong SAR Government. With a vision to be the hub for digital technology, thereby creating a new economic driver for Hong Kong, Cyberport is committed to nurturing a vibrant tech ecosystem by cultivating talent, promoting entrepreneurship among youth, supporting start-ups, fostering industry development by promoting strategic collaboration with local and international partners, and integrating new and traditional economies by accelerating digital transformation in the public and private sectors.

For more information, please visit

Augmented Reality Interactive Fitness Games by Gym Aesthetics Set to Revolutionise the Global Fitness Industry

Joint Guardian Five-Time MMA & Muay Thai World Champion – Alain Ngalani “The Panther” Wowed the Crowd with Live Demonstration and Signature Performance

HONG KONG SAR – Media OutReach – 28 October 2022 – The implementation of augmented reality (AR) in sports is set to redefine the fitness industry, offering entertaining experiences and providing significant analytics for players to enhance their playing skills. Gymetaverse by Gym Aesthetics is ready to lead the online “virtual training” trend.

German sports brand, Gym Aesthetics (GA) partnered with the Physical Fitness Association of Hong Kong, China (PFA) to exhibit at the 15th Health Expo 2022 at the Hong Kong Convention and Exhibition Centre. First time introducing AR interactive fitness games to the public, the brand invited its brand ambassador, five-time MMA & Muay Thai World Champion, Alain Ngalani “The Panther”; and Hong Kong TV hosts, Brian Chan and Agnes Lam, to first experience the live AR games, including “Goal Keeping”, “Jump & Dunk”, and “Single Leg Balance”.

Alain has been keeping in his top of shape and been fighting professionally in the One Championship competitions despite being at the age of 46. He joined Gym Aesthetics at the Expo and challenged to the AR interactive training games with Brian and Agnes. The world champion showed us how he defied age by taking care of his muscles and joint health.

During the AR fitness games, Brian’s “Goal Keeping” result was recorded as quick as 0.45s, whereas Alain’s “Jump & Dunk” result hit an all-time-high at 1.03m. Agnes also showed impressive results in the balancing challenge. Gym Aesthetics aimed to raise joint health awareness through fun educational facts and interactive fitness games.

As Gym Aesthetics’ “Joint Guardian”, Alain “The Panther” volunteered and led Brian and Agnes to do some live training demonstration with the audience, where they shared their workout tips and showed us some simple exercises that could benefit knee joints and strengthen surrounding muscles. To close the event, Alain brought his team on stage to demonstrate some powerful boxing training and impressive pad work. The world champion even surprised the crowd with his signature performance “Leg Split in the Air” and elevated whole event.

Alain as the “Joint Guardian”, is missioned to educate and show us the importance of joint health and how supporting gears can benefit and extend our joint lifespan. He will soon be launching an exclusive training course for strengthening joints and muscles. Stay tuned on Gym Aesthetics Facebook and Instagram platforms for more details.

Gym Aesthetics joined the PFA 35th Anniversary on the main stage for a Community Health & Sports Sharing Session throughout the 3-day Expo. The brand’s Digital Marketing Manager, Roy Tsang, shared the brand’s visions of sports safety, “GA’s vision was to remind everyone to protect their joints before doing sports to prevent injuries. We were all “Joint Guardians” to ourselves and missioned to extend our joint and sports lifespan.” With supporting gears GA Fit Gear PRO, including knee, elbow, and calf sleeves, they ingeniously help with joint stability and balance, while reducing joint pain with increased blood circulation that aids muscle recovery.

To support the concept of “Sports for All” that includes the disabled community, Gym Aesthetics sponsors an NGO event “Wheel For Oneness” that will take place on 29th October. Gym Aesthetics has also been working with professional athletes and coaches, and will launch a FitToEarn fitness training mobile app “Gymetaverse” next year. Through AR amplification and AI technology, the brand aims to launch engaging projects where participants can win prizes by completing challenges, and promote the big health concept.

Hashtag: #GymAesthetics

About Gym Aesthetics

Founded in 2013, Gym Aesthetics is a German high-tech fitness apparel brand appealing to both the aesthetics and the functional needs of its customers worldwide. Its initial flashy wide stringers and thigh-hugging shorts stormed the German bodybuilding community with enormous success. 2017 marked a new chapter for Gym Aesthetics when an Asian fund company spotted its potential and invested in the German brand to further reinforce its brand image, and expand its product range and market share globally. Now Gym Aesthetics is devoted to bringing unique fitness and wellness experience to the metaverse.

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