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Singapore based eCommerce platform Lazada launches public bug bounty program upto $10,000 with YesWeHack

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Singapore based eCommerce platform Lazada launches public bug bounty program upto $10,000 with YesWeHack

Focused on vulnerabilities of personal data, Lazada will pay out up to US$10,000 in rewards to ethical hackers

Southeast Asia’s leading eCommerce platform Lazada announces the launch of a public bug bounty program with YesWeHack to identify vulnerabilities, after running a successful 18 month-long private program. Since January 2020, Lazada has been working with ethical hackers to detect security vulnerabilities in its IT environment as part of a private bug bounty program, and is now opening the program to the entire cybersecurity community.

With the launch of this public Bug Bounty program, Lazada is making a statement to the eCommerce industry, and highlighting the priority it places on security and transparency for its customers and partners, by offering security researchers up to US$10,000 per bounty.

Protecting customer data is a top priority

Founded in 2012 and headquartered in Singapore, Lazada is one of the leading e-commerce platforms in Southeast Asia and was acquired by Alibaba Group in 2016. The company, which has operations in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, also offers logistics, retail technology and payment services solutions, in addition to LazMall, the region’s largest virtual mall with over 18,000 brands.

Since the launch of its private bug bounty program, Lazada has worked with over one hundred ethical hackers to surface vulnerabilities, and has awarded over US$150,000 in bounties to security researchers. This includes a pre-launch event for the public program conducted that saw hackers from the YesWeHack community identify vulnerabilities in 48 hours.

“Given the importance of data and personal information, Lazada takes great care in protecting our customers and we have worked to patch these vulnerabilities, to ensure a safe shopping platform. With the evolving nature of data security, as well as the aggressive nature of hackers who exploit technology to steal data, we believe in working with the larger cybersecurity community to strengthen our IT ecosystems,” says Alan Chan, Chief Risk Officer of Lazada Group.

“Since working with YesWeHack, we have improved our security by enhancing our Secure Software Development Process, to avoid the same type of vulnerability coming up again. It has been very useful to verify with the wider researchers that our security monitoring can catch exploitation of vulnerabilities.”

Up to US$10,000 reward for reports on critical vulnerabilities

Lazada is now taking additional steps in providing transparency and security to its customers, by transferring the areas previously tested in the private program to a public program. This allows cybersecurity researchers from all over the world to participate in the program and report vulnerabilities to the eCommerce platform.

Furthermore, special attention will be paid to vulnerabilities that affect personal data and have severity levels of “high” or “critical.” For submitted reports on critical vulnerabilities, Lazada will pay out up to US$10,000 to security researchers. More information of the public bounty program can be found here.

“By launching this latest public bug bounty program, we are sending a clear message to everyone, that we value the importance of data in our possession. We believe in the expertise of the YesWeHack community and are excited to continue to work with ethical hackers in identifying new attack methods and countering them. This is about protecting our data, protecting our employees and protecting our customers against vulnerabilities,” says Franck Vervial, Head of Cyberdefence at Lazada.

“YesWeHack is delighted to partner with Lazada and expand our market in Asia, ensure their e-commerce platform and its customers are protected against increasingly sophisticated cyber threats,” says Kevin Gallerin, Managing Director, APAC at YesWeHack. “The switch to a public program follows over 18 months of collaboration, during which our global community of researchers has demonstrated its effectiveness and broad spectrum of skills. By reaching out to a broader community, Lazada strengthens its security, champions transparency and data privacy and protection. Ultimately, building and maintaining the trust and experience of the several million users across APAC.”

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Brex Launches New Digital Banking* Products for Startups

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New Checking and updates to Treasury and Vault accounts offer increased saving flexibility and higher yield

New partnership with Column N.A., Member FDIC enables businesses to quickly and easily open new accounts, and avoid transaction fees

SAN FRANCISCO, June 18, 2024 — Brex, the leading all-in-one financial stack supporting 1 out of 3 startups in the U.S.**, today launched new digital banking products and a number of updates to its flagship business account, giving founders access to capital where and when they need it. This launch makes Brex the only spend management platform to marry corporate cards, expense management, bill pay, travel booking, treasury, and banking into one vertically integrated offering.

“Henrique and I started Brex after moving from Brazil to the Bay Area and seeing firsthand the uphill financial battle founders face. Traditional banking is too slow, and even ‘founder-friendly’ neobanks still charge hidden fees and lack global support,” said Pedro Franchesci, Co-Founder and CEO of Brex. “Access to banking and cash is one of the most critical factors for startup success, and we’re proud to be expanding our Banking capabilities to support founders from inception to IPO.”

Brex business accounts now benefit from new advanced security features including comprehensive fraud protection, authentication tools and built-in payment approval flows, all accessible directly from the Brex mobile app with 24/7 support via the app, by phone, or through WhatsApp. Customers can now access three distinct accounts within business accounts to:

  • Confidently open accounts and transfer funds around the world with the new Checking account powered by Column N.A., with no transaction fees on ACH transfers, checks, and domestic wires – plus international wires in over 40 currencies. Opening a Checking account is easy and can be done entirely online.
  • Expand spending power with an updated and fully-integrated Treasury account, making it simpler to oversee and manage funds and earn yield from day one with auto-transfer capabilities and no fees, minimum balance requirements, liquidity restrictions, or waiting periods.
  • Safeguard capital with the updated Vault account, where funds are diversified across more than 20 program banks with up to $6M of total FDIC insurance (20x the national average).

“Banking is highly complicated and heavily regulated, but Column built a new type of bank from the ground up and redefined what a bank could be,” said Brex Head of Startups Jason Mok. “We partnered with Column because their unique approach to banking provides the speed, flexible account model, and API-first approach that no one else can. These aspects are essential to building banking products that power our customersʼ growth.

Brex’s original business accounts launched in 2019, enabling founders to open operating accounts and manage finances from anywhere without ever stepping foot in a bank. And when SVB collapsed in early 2023, Brex and the Brex business account were on the front lines helping founders in new ways. Between March 9 and March 16 2023, Brex took in 4,000 customers and $2 billion in deposits, and within 48 hours Brex established a $1B emergency bridge loan to help impacted companies make payroll. More than 90% of the customers that signed up during the week of the SVB collapse are still active Brex customers, and more than 1/3 of customers now use Brex business accounts.

This comes as the latest of Brex’s commitment to helping the fastest-growing startups get the most out of every moment of their journey from day one. In addition to business accounts, Brex offers a full financial stack for early-stage companies:

  • Get their business off the ground faster by accessing Brex business accounts immediately upon incorporation with Stripe Atlas.
  • Unlock operating capital with higher credit limits — without a personal guarantee — and easily issue corporate cards + reimbursements.
  • Pay vendors faster with automated bill pay and simplify all of your onboarding and payment processes.
  • Extend their runway with over $400K in discounts, founder-friendly rewards, exclusive invites to events with VCs in our network, and more.

To learn more about this new capability and how Brex is giving founder a competitive edge through Banking, visit: https://www.brex.com/journal/brex-startups-modern-banking

*Brex is a financial technology company, not a bank. Checking accounts and banking services provided by Column N.A., Member FDIC. Treasury and Vault are offered by Brex Treasury LLC, Member FINRA and SIPC. Vault accounts allow customers to sweep cash into program banks. Brex Treasury is not a bank nor an investment adviser. Yield is variable.
** Market share of customers activated on Brex out of all US-headquartered startups with <50 employees and have raised a professionally invested round in the last 8 quarters.

About Brex
Brex is the AI-powered spend platform. We transform finance teams from reactive no-sayers to proactive growth drivers. With Brex, companies spend with confidence by empowering employees to make smarter financial decisions from anywhere. Brex provides corporate cards, business accounts, and global payments, plus intuitive software for travel and expenses, that make it easy to plan and track all company spend in one place, in real time. Tens of thousands of companies from startups to global enterprises — including DoorDash, Flexport, and Compass — use Brex to proactively control spend, reduce costs, and increase efficiency on a global scale.

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Flex and Yardi Unveil Seamless Rent Payment Integration in RentCafe

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Partnership offers Yardi clients a fully integrated rent payment solution, empowering residents with financial flexibility.

NEW YORK, June 18, 2024Flex, a leader in financial wellness solutions, is proud to announce a new strategic partnership with Yardi®, a leading property management software provider. This collaboration provides residents with unprecedented payment flexibility and simplicity, embedded in the RentCafe resident portal.

“At Flex, we are committed to simplifying the rent payment process for residents and property managers alike,” said Shragie Lichtenstein, CEO and Co-founder at Flex. “Our partnership with Yardi allows us to deliver a seamless, integrated experience that not only enhances resident satisfaction but also improves operational efficiency for property managers.”

The integration allows residents to split their monthly rent into smaller, more manageable payments, ensuring property managers receive the full amount, when it’s due. Residents can discover and sign up for the payment option directly within their RentCafe portal. Once registered, the Flex service is immediately available to residents, with no additional work or cost for onsite teams.

“Integrating Flex’s innovative payment solutions within RentCafe helps our clientsmeet the expectations of today’s renters,” added Patrick Hennessey, Vice President and General Manager at Yardi. “Personalizing the rent payment process is a crucial step towards enhancing our overall customer experience.”

“Flex is the only company to work directly with both property management companies and their underlying management software to offer the best possible flexible rent payment experience,” continued Lichtenstein. “Now, by embedding Flex directly into RentCafe, we are setting a new standard for accessibility and convenience.”

Flex has facilitated over $8 billion in on-time rent payments for thousands of property management companies across the U.S. By implementing Flex’s solutions, property managers can increase resident retention and boost NOI, while residents benefit from improved cash flow. This dual advantage strengthens the financial stability of both property management companies and the communities they serve.

About Flex
Flex is a leading financial services company that allows residents to split their rent and build their credit. Trusted by over 1,600 property management companies and offered in more than 6 million units nationwide, Flex has paid more than $8 billion in on-time rent. By integrating seamlessly with major property management systems, Flex offers a simple solution that supports operational efficiency and creates a superior resident experience.

About Yardi
Celebrating its 40-year anniversary in 2024, Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With over 9,000 employees, Yardi is working with clients globally to drive innovation in the real estate industry.

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Acquisition

Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC

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Company adds another patent to its portfolio with acquisition

MELBOURNE, Fla., June 18, 2024Fifty 1 Labs, Inc. (OTCPK: CAFI), a leading company in the sports supplement, sports equipment, and health and wellness industries, is thrilled to announce the acquisition of Drago Knives, LLC, a Florida-based company specializing in innovative throwing knives. Founded by Dragan Zivotic, a former member of the Serbian Army and an expert in knife throwing, Drago Knives plans to make significant contributions to the sports and outdoor equipment sector with its patent-pending design for throwing knives.

The acquisition of Drago Knives, LLC, marks a significant milestone for Fifty 1 Labs as it expands its portfolio into the growing market of throwing knives, an ancient practice with a rich history that dates back to prehistoric times. Historically, throwing knives have been used across various cultures for hunting, combat, and sport, evolving over centuries into a popular activity for enthusiasts and professional competitors alike.

Drago Knives, LLC, will distinguish itself in this market with a unique patent-pending design that enhances the throwing knife experience. This design allows users to correctly place their fingers and hand on the knife, enabling quick proficiency in knife throwing—a skill that combines art, sport, and precision. This innovation not only honors the traditional aspects of knife throwing but also brings a modern twist that appeals to beginners and experienced throwers.

“We are excited to welcome Drago Knives into the Fifty 1 Labs family. This acquisition aligns with our commitment to providing high-quality, innovative products to our customers,” said Robert Clark, CEO of Fifty 1 Labs, Inc. “Dragan Zivotic’s expertise and passion for knife throwing have led to the creation of a product that we believe will set a new standard in the industry.”

Throwing knives are currently sold in select sports equipment stores, online retailers, and specialty shops across the United States and are gaining popularity among a wide range of consumers, from outdoor enthusiasts to professional athletes. The growing interest in throwing knives as a sport and hobby is evident in the increasing number of competitions and clubs dedicated to knife throwing, indicating a bright future for this segment.

Fifty 1 Labs, Inc is committed to leveraging its resources and network to further enhance the Drago Knives brand, expand its distribution channels, and introduce the sport of knife throwing to a broader audience.

About Fifty 1 Labs, Inc (CAFI)

Fifty 1 Labs, Inc. (Ticker symbol: CAFI), a publicly traded entity presently in the process of a name and symbol transition to become Fifty 1 Labs, Inc. from Consumer Automotive Finance, Inc. This transformation accompanies the company’s ownership of three distinct subsidiaries entrenched within the domains of sports supplementation, fitness apparatus, and the realm of holistic well-being. These subsidiaries encompass 51, LLC, a distinguished brand specializing in sports supplementation; The Quickness, the proud bearer of a patent for pioneering athletic training equipment, meticulously crafted to amplify linebacker development; and Astound NMN, a beacon of excellence within the anti-aging sector, heralding the era of DNA reparation through its premium supplements. Guided by an unwavering commitment, Fifty 1 Labs, Inc. remains at the forefront of ingenuity, consistently presenting avant-garde solutions infused with state-of-the-art technology, poised to empower individuals in their pursuit of fitness and holistic health aspirations. Furthermore, Fifty 1 Labs, Inc. remains actively engrossed in the pursuit of strategic acquisitions, aimed at fortifying its portfolio by incorporating profit-generating enterprises into its fold.

About Drago Knives, LLC

Founded by Dragan Zivotic, Drago Knives, LLC, is based in Florida and specializes in the design and manufacture of high-quality throwing knives. With a patent-pending design, Drago Knives aims to make knife throwing accessible and enjoyable for everyone, from beginners to seasoned throwers.

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