Latest news with #forensicreport
The Herald
02-08-2025
- Business
- The Herald
IDT CEO Tebogo Malaka placed on suspension over R800m oxygen tender
The board of trustees of the Independent Development Trust (IDT) has placed its CEO Tebogo Malaka on precautionary suspension with immediate effect. The decision on Friday follows the board's receipt and consideration of a final forensic report this week relating to procurement irregularities in the R800m pressure swing adsorption (PSA) oxygen plant tender. The investigation, ordered by public works and infrastructure minister Dean Macpherson, recommended disciplinary action against Malaka, general manager for supply chain management Dr Molebedi Sisi and other officials. The IDT said its precautionary suspension was aligned with internal policies and the Labour Relations Act and was instituted to allow for an independent and unhindered investigation into the serious matters raised. 'The board emphasises this is not a disciplinary sanction. Ms Malaka remains an employee of the organisation and has not been found guilty of any misconduct.' To ensure continuity and organisational stability, the board asked Macpherson to second a senior official to serve as acting CEO. The minister seconded Carmen-Joy Abrahams to the role with immediate effect. TimesLIVE
Entrepreneur
29-07-2025
- Business
- Entrepreneur
Coinbase in Talks to Acquire CoinDCX Amid USD44M Hack Fallout
A forensic report cited backend credential compromise, overreliance on hot wallets, and lack of red-teaming as key vulnerabilities You're reading Entrepreneur India, an international franchise of Entrepreneur Media. US-based crypto giant Coinbase is in advanced discussions to acquire Indian exchange CoinDCX at a valuation below USD1 billion, Mint reported. This marks a steep fall from CoinDCX's USD2.2 billion valuation in 2021 and follows a USD44 million security breach disclosed on July 19. Sources told Mint that Coinbase, already an investor in CoinDCX and rival CoinSwitch, views this as a strategic bet on India's maturing crypto market. A potential Plan B includes merging Coinbase's stakes in both platforms, though CoinSwitch denied any such talks. CoinDCX faced criticism for delaying its breach disclosure by nearly 17 hours. A forensic report cited backend credential compromise, overreliance on hot wallets, and lack of red-teaming as key vulnerabilities. The company launched a USD11 million bounty program to recover stolen funds. CoinDCX's FY24 profits were largely driven by related-party transactions with overseas entities. Excluding these, the firm would have posted losses, Mint reported. Experts also flagged its self-scoped reserve audits and high hot wallet exposure of 28 per cent versus a global 5 per cent benchmark. As Coinbase prepares to launch retail operations in India, the deal could reshape the country's crypto landscape.
Khaleej Times
28-07-2025
- Khaleej Times
UAE: Indian woman found dead in Sharjah committed suicide by hanging, police confirm
The death of Athulya Sekhar, the woman who was found dead in her Sharjah apartment just a day after her 30th birthday, has been confirmed as suicide by hanging, according to a forensic report issued by Sharjah authorities, social worker Abdullah Kamampalam told Khaleej Times. Kamampalam, who has been supporting the family through the tragedy, said the report was shared by the authority. 'The official document confirms that the cause of death was suicide by hanging,' he said. Athulya, a native of Kerala, was found dead in her apartment in the Rolla area on the morning of July 19. A case has been registered against her husband in Kerala following a complaint from Athulya's parents, with charges including physical abuse, dowry harassment, and murder. 'The investigation is now underway,' Kamampalam said. Athulya had been residing in Sharjah for the past two years and was about to start a new job at a mall. She had celebrated her birthday the day before with her sister. Kamampalam confirmed that arrangements are currently being made to repatriate her mortal remains to Kerala.
