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Engineer misdiagnosed column linked to Bronx collapse – Spectrum News NY1

How do you pick up your entire life in 20 minutes?" said Vannesa Olivo.

Thats all the time Olivo had to gather a lifetimes worth of memories for her mother and father at their Billingsley Terrace apartment on Friday.

How do you take your grandmas ashes and just throw them? Like, hurry up, put them in this bag and lets go. And how do I tell my mom she may never come back home? Olivo said.

Olivos parents are just two out of roughly 30 family members who lived in the building before it collapsed on Monday, now scattered between shelters.

A shelter. A room, an apartment that is empty. Nothing in it, just a bed, Olivo said.

Olivo said she only has enough room to house about a dozen family members on top of her family of six.

On Friday, the city said an engineer misdiagnosed a structural column as decorative.

To hear that it was this class of mistake calls into question the ways we are scrutinizing our professionals, said Councilmember Pierina Sanchez.

Sanchez is chair of the Housing and Buildings Committee. The collapse also happened in her district. Shes now looking into possible oversight committees.

As a City Council, were going to be asking the questions about what was missing. Did we not have enough eyes? Do we not have the right protocols? Sanchez said.

The city said it has suspended Richard Koenigsberg of Koenigsberg Engineerings inspection authority.

Officials want to permanently revoke the engineers authority to inspect exterior walls of buildings.

NY1 spoke with Koenigsberg. He said he just became aware of the allegations and has no comment at this time.

How dare they not double check that, and now were all in the street for one mistake? Olivo said.

Now Olivio said a family that once lived together will now be scattered for the holidays.

It doesnt look like home for the holidays, Olivo said.

In order to suspend the engineers authority, it must go through the Office of Administrative Trials and Hearings.

Its unclear, if these allegations are true, how long that could take.

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Engineers working to resolve issue with Voyager 1 computer – Phys.org

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Engineers are working to resolve an issue with one of Voyager 1's three onboard computers, called the flight data system (FDS). The spacecraft is receiving and executing commands sent from Earth; however, the FDS is not communicating properly with one of the probe's subsystems, called the telecommunications unit (TMU). As a result, no science or engineering data is being sent back to Earth.

Among other things, the FDS is designed to collect data from the science instruments as well as engineering data about the health and status of the spacecraft. It then combines that information into a single data "package" to be sent back to Earth by the TMU. The data is in the form of ones and zeros, or binary code. Varying combinations of the two numbers are the basis of all computer language.

Recently, the TMU began transmitting a repeating pattern of ones and zeros as if it were "stuck." After ruling out other possibilities, the Voyager team determined that the source of the issue is the FDS. This past weekend the team tried to restart the FDS and return it to the state it was in before the issue began, but the spacecraft still isn't returning useable data.

It could take several weeks for engineers to develop a new plan to remedy the issue. Launched in 1977, the spacecraft and its twin, Voyager 2, are the two longest-operating spacecraft in history. Finding solutions to challenges the probes encounter often entails consulting original, decades-old documents written by engineers who didn't anticipate the issues that are arising today. As a result, it takes time for the team to understand how a new command will affect the spacecraft's operations in order to avoid unintended consequences.

In addition, commands from mission controllers on Earth take 22.5 hours to reach Voyager 1, which is exploring the outer regions of our solar system more than 15 billion miles (24 billion kilometers) from Earth. That means the engineering team has to wait 45 hours to get a response from Voyager 1 and determine whether a command had the intended outcome.

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Indian students interest in engineering is dropping and expected to slump even more, heres why – Firstpost

Over the past few years, there has been a consistent drop in the number of students enrolling in engineering and technology courses. According to TeamLease Edtech co-founder and president Neeti Sharma, this trend will continue as IT companies hire fewer people.

Over the past few years, there has been a steady decline in the number of students enrolling in engineering and technology courses. For example, the enrollment in BTech programs fell from roughly 40 lakh in 201617 to 36 lakh in 202021.

In the past five years, BTech and BE courses have seen a steady decline as job opportunities in core streams have diminished. The overall fresher hiring by IT companies has declined from 26 per cent of overall passouts in FY22 to 15 per cent and 10 per cent in FY23 and FY24, respectively, Sharma told PTI.

However, she noted that there is some light at the end of the tunnel and courses such as cloud computing, artificial intelligence, and cybersecurity are still seeing niche demand.

Both current employees, freshers, and experienced candidates have recognised the need to upskill in these specific domains in order to stay competitive in the IT sector. Tier-I IT firms are prioritising digital transformation, data analytics, cloud computing, and such courses in these domains will remain in demand, she added.

It is expected that there will be a 4 per cent dip in the total IT services headcount in this financial year with a possibility that 2,00,000 could possibly be at risk depending on the campus placement scenario, she said.

During 2022-23, there was a 9 per cent dip in fresher hiring from the previous year and it is expected that in FY24 there will be a further 5 per cent decrease. Overall, hiring is expected to fall by 40 per cent, according to a recent report. Compared to the previous year, overall fresher hiring is expected to fall around 40-50 per cent and this is for graduates of both FY23 and FY24, Sharma noted.

She said, with IT companies slowing down their hiring activity, Global Capacity Centers (GCCs) are also expected to fall short by 50 per cent of the overall IT hiring in India.

As tech spends reduce, the net staff addition in major IT firms hit a 5 year low and is projected to remain negative for the rest of the current financial year, she stated.

Sharma further said, amid the recent slowdown in the sector, Tier-I IT firms are pacing themselves and not committing to expensive long-term hiring.

Most firms in the sector have decided to prioritise internal mobility and lateral hiring with some fresher hiring in the mix as well. Reducing overhead costs and improving the sales pipelines will be the focus going forward with 75 per cent of hiring expected to be internal. However, according to our recent Career Outlook report, the startup ecosystem is slightly different with technology startups expressing a 59 per cent intent to hire, she added.

She said, there is a need to be cautious in predicting any significant recovery in hiring as the global signals are currently weak.

The current geopolitical and macroeconomic landscape and other external factors may dictate the speed of recovery. However, since June 2023, the IT sector has seen a slight upward trend. A combination of cost reduction measures through layoffs, reduced inflation in the UK and Europe markets and better global economic stability have led to this mini recovery phase compared to the first half of the year, she noted.

However, it is difficult to predict whether there will be a full scale recovery akin to the pre-pandemic era due to several variables in the global economy, Sharma said.

Compared to the first week of October 2022, there has been a 20 per cent decline in the number of students placed, she said, adding that we are likely to witness a significant decline in campus offers compared to the previous year.

On freshers hiring, Sharma said, as IT firms pivot toward internal talent mobility, there is likely to be a displacement effect for freshers, especially due to the weak sales projections.

IT firms are expected to hire 50,000 freshers between June and December of 2023, primarily from tier II and III cities, she said.

Meanwhile, tier I cities and smaller towns are expected to witness reduced fresher hiring during this period, she said.

Freshers hired during the previous campus recruitment cycle are being upskilled in Gen AI and other emerging technologies as major IT firms focus on cost reduction and streamlining, Sharma said.

However, freshers who come with a myriad of skills including technical and soft skills and display high emotional intelligence will always be in demand, she added.

(with inputs from PTI)

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It’s Official: Platform Engineers Earn More Than You – The New Stack

In the rapidly evolving world of technology, hiring strategies can make or break you when it comes to staying competitive especially with the ongoing war on talent. So were super excited for our big reveal.

A new champion has emerged in the field of engineering salaries: platform engineers. According to the latest findings in Humanitecs State of Platform Engineering Report Vol 2, this relatively new entrant is already making big waves, outpacing its DevOps counterparts in earnings. This revelation not only highlights the increasing value of platform engineering, it also sets the stage for a deeper look into its growing prominence in the tech industry.

Recently named a Top Strategic Technology Trend by Gartner for both 2023 and 2024, platform engineering sits at the peak of Gartners Hype Cycle. For many organizations, its transitioned from an emerging trend to a new standard. This recognition comes not only from Gartner but also from CNCF, Google, Microsoft and many others. And it underscores the critical importance and snowballing influence of platform engineering in shaping the future of technology.

Platform engineerings rise is largely shaped by its approach. Its the perfect blend of software development, operations, product management (platform as a product) and infrastructure. But this multifaceted discipline is not just about technical know-how; its about driving standardization and automation to enhance overall productivity and efficiency in software delivery processes. As platform engineering continues to gain momentum, companies are rethinking their approach to software development and operations.

The Platform Engineering 2023 survey, which primarily targets the United States and Europe, shines a spotlight on the current technology pay gap. In the US, platform engineers enjoy a staggering 42.5% salary advantage, averaging an additional $65,439 over their DevOps counterparts. Europe sees a similar trend (to a lesser extent), with platform engineers earning 18.64% more. Thats equivalent to an extra $15,871 annually.

Note: Data aggregated is based on the description of what respondents say they work on. Platform engineering was aggregated from platform engineering and developer experience. DevOps was aggregated from infrastructure, DevOps setup and ops.

This significant salary difference could be due to the demanding nature of platform engineering. Unlike traditional ops and DevOps roles, platform engineering demands a broader and often more specialized skill set. These professionals are not just bridging gaps between software development and ops. Nor do they simply solve team or individual problems. Much more than that, their work impacts the entire organization, innovating and shaping the platforms that, if built well, lead to shorter time to market by unblocking developer and ops bottlenecks.

Awareness of this salary gap has far-reaching implications for the tech industry. For one, it may influence the career trajectories of aspiring engineers, nudging them towards specializing in platform engineering. It may also get companies thinking about the need to reassess their hiring strategies and salary structures to attract and retain the very best talent.

This trend also signals a potential shift in employment dynamics within the tech sector. As the demand for platform engineering expertise grows, roles could realign, with more focus on finding skills that cover wider technological breadth and depth.

Our report findings highlight the ever-growing importance of the platform engineer role. The fact that theyre leading the way in terms of earnings is a trend every engineering organization should sit up and pay attention to. Not only does it reflect their potential to impact the entire business and cut time to market, but, for some organizations, it signals the need to seriously rethink recruitment strategies and secure the right people with the right skills and stay ahead of the curve.

Explore Humanitecs full report for more insights into the state of platform engineering.

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The engineer who helped India to reach the Moon – Nature.com

This story is part of Natures 10, an annual list compiled by Natures editors exploring key developments in science and the individuals who contributed to them.

We have achieved our goal flawlessly, said Kalpana Kalahasti, a few minutes after Indias space agency safely landed its first probe on the Moon on 23 August, part of the Chandrayaan-3 mission. This will remain the most memorable and happiest moment for all of us.

Natures 10: read the 2023 list

The successful mission by the Indian Space Research Organisation (ISRO) put the country in a small group that has managed to set a craft down on the lunar surface. Only the Soviet Union, the United States and China have also achieved the feat. And as associate project director of Chandrayaan-3, Kalahasti played a crucial part in ensuring its success.

Chandrayaan-3 carried with it the hopes and fears of a nation when it lifted off on 14 July. Indias previous attempt to reach the lunar surface, the Chandrayaan-2 mission in 2019, ended in failure when the lander crashed. Three other Moon missions had similar fates: the 2019 loss of the Beresheet lander built by Israeli company SpaceIL, and this year the crashes of HAKUTO-R Mission 1 from the Japanese company ispace and Russias Luna 25 lander.

The loss of Chandrayaan-2s lander was a defining moment for Kalahasti and her team members, who poured all of their efforts into bouncing back. From the day we started rebuilding our spacecraft after the Chandrayaan-2 experience, it has been breathe in, breathe out Chandrayaan-3 for the team, she said after this years landing.

One of the biggest challenges the team faced was that the total mass of and available budget for the spacecraft had to remain the same as those for Chandrayaan-2. That meant the team could not drastically redesign the lander or build in many redundancies. So Kalahasti worked with project director Palanivel Veeramuthuvel to reconfigure the Chandrayaan-2 missions orbiter and lander. ISRO reduced the mass of the orbiter to provide the lander with extra fuel, stronger legs and other improvements.

This is where Chandrayaan-2s flight was invaluable. Its many systems that did work allowed us to arrive at an optimum Chandrayaan-3 configuration, Kalahasti told Nature.

Veeramuthuvel and Kalahasti spent the bulk of Chandrayaan-3s development time devising and overseeing comprehensive tests and simulations, such as assessing the navigation systems ability to avoid hazards before touchdown on Moon-like terrain.

The goal was to have a well-documented, well-understood system. There was no compromise in demonstrating the systems performance, says Kalahasti.

The efforts paid off. But conducting so many tests and integrating their results while also planning the flight was a giant task that required coordinating a dozen ISRO centres across the country. It was as if we were building five to six different satellites together, says Kalahasti. She relied on her past experiences in project management and systems engineering, including her leading roles in the development of several ISROs Earth-observation satellites.

Her leadership role on the Moon mission was a long way from her beginnings at ISRO in 2000. She was drawn to the agency, she says, by a desire to work at a core engineering organization that would leverage her degree in electronics and communications. Her first job with the agency was as a radar engineer at the Satish Dhawan Space Centre in Sriharikota, where ISRO launches its missions.

Kalahasti is elated that the Chandrayaan-3 mission has ignited a spark among younger people in India. Apart from the missions technical aspects, I hope young professionals across India and the world get inspired by how the team meticulously emerged from failure.

The missions success has inspired confidence in other nations and companies hoping to attempt future Moon landings, says Jessy Kate Schingler, a space-policy researcher and senior adviser at the Open Lunar Foundation, a non-profit organization in San Francisco, California, that is advocating for a peaceful lunar presence. Its really nice to see India coming back for a second try on this mission soon after its first attempt, she says. Its such a hard thing to do, a Moon landing. So Chandrayaan-3, I think, is an appreciated investment the whole world will benefit from.

Kalahasti is excited about what ISRO could take on next. The agency wants to send a mission to retrieve lunar samples, as a precursor to its 2040 goal of landing a human crew on the Moon. Now that the critical aspect of demonstrating a Moon landing is done, says Kalahasti, we can move towards other capabilities.

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As Search Begins for Cause of Bronx Building Collapse, Engineer Says Water Main Work Could Be a Factor – THE CITY

Hours before a Morris Heights building partially collapsed in a heap onto a Bronx street, a contractor hired by the city was performing below-ground water main work across the street, THE CITY has learned.

The vendor, EIC Associates, was working across the street on the block of the collapse earlier in the day, emailed Ian Michaels, spokesperson for the city Department of Design & Construction (DDC), on Tuesday in response to questions from THE CITY.

Its not clear what triggered the collapse of the northeast corner column of the seven-story apartment building on Monday afternoon whose facade had been deemed unsafe in 2020 or whether the water main work played any role whatsoever.

But Michaels said DDC engineers inspected the site on Tuesday and believe that the collapse was not related to the (water main) construction.

DDC officials also participated on Tuesday in a meeting with the Office of Emergency Management, the Fire Department and the Department of Buildings to begin the task of figuring out what happened at 1915 Billingsley Terrace.

None of those agencies believed that the water main work contributed to the collapse, though DOB will ultimately determine the cause, Michaels said.

The buildings department has yet to issue any statements about what they believe caused the accident. On Wednesday DOB spokesperson Andrew Rudansky stated, The investigation is looking at all potential factors that might have contributed to the collapse.

In this case, that could include the stability of the ground under the column that collapsed, the condition of the column itself, and whether the crumbling facade and an ongoing effort to repair it contributed to the calamitous events of Monday.

Rudansky said DOB forensic engineers remained at the scene as the department continued interviewing all the relevant parties, including the owner, any contractors and engineers that worked on the building, and witnesses to the accident.

Richard Koenigsberg, an engineer hired by the buildings owner to bring its deteriorating facade up to code, inspected the site Monday and speculated that the water main work could be a factor given his assessment that the collapse appeared to have occurred at the first floor level.

It looks to be the problem would be at the first floor. I say that because of the way it collapsed, he told THE CITY Monday. It looks like there was a failure of the corner column at the first floor and then the rest came down.

The New York Times quoted an employee of a tax preparation office on the ground floor of the building who said that the collapse occurred moments after a major water leak erupted inside a first-floor market next door.

Asked whether the water main work could have been a factor in the collapse, Buildings Department spokesperson Andrew Rudansky responded, DOBs investigation into the cause of this collapse is ongoing.

Michaels said the water main work which was suspended Monday as the city works to examine and ultimately clear the site took place at the corner of Phelan Place and Billingsley Terrace. The collapse occurred at the corner of Phelan and West Burnside Avenue, just a few yards away.

The construction on that corner is part of a much bigger ongoing $68.8 million project to install new trunk lines that attach to the water mains that connect the area to the citys third water tunnel.

On Tuesday the FDNY announced a thorough search of the rubble caused by the collapse determined that no one was killed or seriously injured. Two people had minor injuries, they said.

Koenigsberg was hired by the buildings owners, 1915 Realty LLC, and inspected the facade of the 46-unit building in February 2020. He deemed it unsafe, discovering cracks in the bricks, fissures under window sills and a bowed parapet. The building was supposed to be repaired but the pandemic hit, and no work started until July of this year.

On Monday Koenigsberg said he does not believe the facade issues or ongoing repairs there caused the collapse, noting that work on the corner that collapsed had ended in late September.

Meanwhile, work continued Wednesday on shoring up the interior of the compromised structure and beginning the process of demolishing the partially collapsed floors now exposed to the elements.

The FDNY ordered tenants of the 47 apartments to vacate the premises, and Rudansky of DOB said the agency will begin escorting them back into their apartments to retrieve personal items once the demolition of the damaged apartments is complete.

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NYC penalizes building engineer in wake of Bronx apartment building collapse – Gothamist

New York Citys buildings commissioner says his agency is suspending an engineers authority to inspect building exteriors after a crucial error led to the partial collapse of an apartment complex in the Bronx's Morris Heights neighborhood on Monday.

The revelation comes after three witnesses and a government official briefed on the collapse told Gothamist that workers were jackhammering and removing bricks from a ground-floor support column at the seven-story building shortly before the disaster.

Department of Buildings Commissioner James Oddo said the engineer mistakenly deemed a load-bearing column decorative in plans filed with the agency in June.

The engineer failed to recognize a clearly structural column as such, and he can no longer be out there making assessments of the structural integrity of exterior walls of New Yorks buildings, Oddo said in a statement. We got lucky that no one was killed in this collapse; we will not take that risk again.

He said the agency was reviewing 368 other facade reports filed by the engineer in the most recent five-year inspection cycle.

The engineer, Richard Koenigsberg, said he did not know about the penalty until Gothamist contacted him while he was driving to the building site at 1915 Billingsley Terrace on Friday afternoon.

They havent notified me yet, he said, declining to comment further.

In a brief interview on Thursday, Eric Castillo, the owner of a bodega on the buildings ground floor, said the workers were hammering into the bricks just before the collapse.

They were removing the bricks, Castillo said in Spanish. We were scared, but we didnt know it was going to collapse.

Andre Soto, a superintendent at a nearby apartment complex, said he was also stunned to see workers hammering into the corner of the building, where a crack had been growing for years.

You cant do that, thats the corner, he said, adding that neighbors had long worried about the growing cracks, which appear in Google Maps images of the building.

Although the Monday afternoon disaster did not result in any deaths or serious injuries, it has displaced 174 people -- including 44 children -- from their homes, according to the Red Cross, which is assisting the tenants.

Construction crews at the site on Thursday were using a crane to demolish the remaining sections of crumbled apartments, with some of the tenants possessions still visible from the street. A childs pink jacket could be seen hanging from a door in one apartment..

Tenants were allowed to re-enter the building to retrieve some items on Thursday, but two told Gothamist they are too scared to return permanently.

My mom is still nervous and doesnt feel well after what happened, said Angel Soto, who lived in a third-floor unit with his mother and is not related to the super. She is very shaken up. I hear a lot of others are the same.

DOB spokesperson Ryan Degan told Gothamist the agency is inspecting all the buildings associated with David Kleiner, the Bronx buildings landlord, and his affiliates. Degan said the DOB had not yet identified any structural problems at those other sites.

Kleiner did not immediately respond to a phone call on Friday.

A spokesperson for Bronx District Attorney Darcel Clark told Gothamist this week her office is also investigating the cause of the collapse.

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MIT Loses Its Way in Failing to Combat Antisemitism on Campus – Daily Signal

As a 1981 graduate of the Massachusetts Institute of Technology, I have been appalled by the behavior of the president of the university, Sally Kornbluth, in the face of the antisemitism now infesting MIT, something that wasnt there when I was a student.

I echo all of the serious concerns raised by over 700 other MIT alumni who, on Dec. 11, sent a letter to Kornbluth and the MIT Corporation, the board that runs the university, over the continued failure of the MIT administration to address this dangerous plague.Kornbluth has lost the moral authority to continue as the president of MIT.

In fact, in a tone-deaf move, the members of that board issued a statement on Dec. 7 expressing their full support for Kornbluth, which, as the alumni letter correctly says, sends the wrong message to the MIT community, and especially its Jewish members. The statement says the board members utterly reject all forms of hate yet they refuse to take any action against those who have been spewing such hate on campus.

Of course, this tolerance for racist behavior is also no surprise to me, given MITs abandonment of basic principles of equal treatment of its students based on merit, regardless of their race or ethnicity, that started in the 1990s. That is when MIT started discriminating on the basis of skin color in its admissions policy. It even filed an amicus brief with the Supreme Court, aiming to justify such invidious discrimination, in the ultimately successful lawsuits filed by Asian American students against Harvard and the University of North Carolina.

The scandal involves Kornbluths dismaying and highly criticized testimony before the U.S. House Committee on Education and the Workforce on Dec. 5, where she was accompanied by her woke apologists for students supporting a designated terrorist organization, Hamas, the plagiarist president of Harvard and the now resigned-before-being-fired president of the University of Pennsylvania.

At that hearing, Kornbluth implied, as the alumni letter says, that calls for genocide of Jews may not constitute bullying and harassment under MITs code of conduct, depending on context.

What context could possibly justify support for terrorist attacks and a call for genocide?!Protecting those who engage in such violent rhetoric, as my 700 fellow alumni have said, rather than the Jewish victims of such rhetoric, sends a strong signal to the rest of the world that violent words of hate are acceptable, at least as they relate to the Jewish people.

Somehow, I doubt that if rhetoric calling for the extermination of blacks had been spewed at these supposedly elite universities any of these college presidents would have waited a second to immediately condemn it or take disciplinary actions against the students spewing such venom.

That raises the more substantive problem. The problem isnt just Kornbluths regrettable and inexplicable testimony. It is also her refusal to take any action to suspend or expel the pro-Hamas, antisemitic students who have harassed, threatened, and intimidated Jewish students and faculty members, disrupted classes, protested in areas that the school has said explicitly are off-limits for protests, and blocked access to the main lobby of MIT in November.

As a letter from current Israeli and Jewish MIT students recounts, the administration took no steps against these students for any of these actions that not only threatened other students and faculty, but physically kept Jewish students out of buildings and prevented them from attending classes.

The worst actions of these thugs who masquerade as college students occurred on Nov. 9, the 85th anniversary of Kristallnacht, the day Jews all over Germany were attacked.

That is not just a coincidence since these ill-behaved(and thats putting it mildlystudents who support Hamas, in their calls for a violent uprising or Intifada and their justification for the terror attacks by Hamas, are echoing the same antisemitism and violence perpetrated by the Nazis.

What did Kornbluth and the MIT administration do about that? Instead of dispersing, arresting, and detaining these thugs, the administration warned Jewish students not to enter MITs main lobby to breach the blockade because of a risk to their physical safety. They were told, says the student complaint letter, to enter campus from back entrances and not stay in Hillel [a Jewish student facility] for fear of their physical safety.

MIT allowed these terrorism supporters to overrun the campus and refused to protect their victims.

And what was Kornbluths excuse?In a Nov. 9 letter to members of the MIT community, Kornbluth refused to take action because she had serious concerns about collateral consequences for the students, such as visa issues. In other words, she wanted to make sure that Hamas supporters who were foreign students wouldnt have their visas canceled or get deported.

In fact, that is exactly what should be happening. Antisemites who support terrorism and genocide, and who themselves terrorize fellow students and MIT faculty, not only shouldnt be at the institute, if they are not U.S. citizens, they shouldnt be in the country.

Kornbluths badly misguided priorities are just another example of why she is unfit to be the president of what was once known as, but appears to be no longer, the premier science and engineering school in the country.

Kornbluths Nov. 9 letter says that she was heartened by an effort from faculty to develop a Day of Dialogue. There has already been a Day of Dialogue at MIT, a day (in fact, several days) of violent, racist, antisemitic dialogue. The institute doesnt need another day of that.

What MIT needs is a new president (and, frankly, a new board of trustees) who immediately and loudly condemns all calls for genocide. It needs a president and administration that expels all students who support terrorist organizations and have been involved in harassing, intimidating, and threatening other students.

MIT needs someone who makes MIT once again a safe haven for students who want to become this nations best scientists, engineers, and technologists, and an institution that implements zero tolerance for the kind of hoodlums who are roaming the campus today being protected by an administration that has lost its way.

Have an opinion about this article? To sound off, please emailletters@DailySignal.com, and well consider publishing your edited remarks in our regular We Hear You feature. Remember to include the URL or headline of the article plus your name and town and/or state.

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Number of Smart Contracts Deployed on Ethereum Record 96% Drop in the Last 6 Months – BanklessTimes

Although the concept of a smart contract has existed since the 1990s, Ethereum was the first platform to recognize its potential and remove the necessity for a third party through its implementation. This has contributed to the advancement of the smart contract market.

However, according to a Banklesstimes.com analysis, the number of new smart contracts deployed over the past six months has fallen by over 90%. The number of new smart contracts deployed on June 1, 2023, stood at 1.4m. However, 60.4k smart contracts were deployed on Ethereum on December 1.

BanklessTimes crypto expert Alice Leetham commented:

Typically, the number of contracts executed on a contract network indicates the level of on-chain engagement. There is a greater chance that this engagement could impact price movements when there are more dApps in various sectors, like DeFi, NFTs, gaming, and others. This is because ETH, the token of Ethereum, is utilized for settling network fees.

She added that whenever there is a spike in on-chain activity, the demand for block space is higher, requiring developers to use more ETH for a slot in a block.

Falling contract deployment coincides with the exemplary performance of ETH prices. ETH prices have rallied from $1873.91 on June 1st to $2352.50 on December 11th. Even though bulls are yet to push the coin above $2400, an immediate resistance level that, if broken, could see ETH prices float to new 2024 highs.

Throughout history, there has been a link between the quantity of contracts utilized and the corresponding price movements. It is common for developers to intensify their efforts when prices are on a trend, resulting in contracts being deployed. However, it is worth noting that this pattern was not evident in the performance observed earlier in June. During that time, there was a disparity between spot prices and the number of contracts launched.

Despite experiencing a fivefold increase between January 14 and January 23, there is potential for a much higher number of contracts if this action were synchronized with the fluctuations in ETH prices.

However, it's worth mentioning that smart contracts on the Ethereum network have shown growth in 2022. According to a report from Alchemy, a software company, over 100,000 dApps were introduced during the course of the year.

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Number of Smart Contracts Deployed on Ethereum Record 96% Drop in the Last 6 Months - BanklessTimes

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The Man Who Brought Down Nirvana Finance: Inside the $12M Crypto Heist – Blockonomi

A former security engineer has pleaded guilty to charges related to hacks on two decentralized cryptocurrency exchanges this past July, including the high-profile collapse of Nirvana Finance.

Shakeeb Ahmed, who was employed by an international tech company as a senior security engineer, admitted to carrying out attacks on the exchanges by discovering and exploiting vulnerabilities in their smart contracts. This marks the first ever conviction for a smart contract breach.

The first hack targeted an unnamed exchange in early July, where Ahmed cleverly inserted fake pricing data into one of the exchanges smart contracts. This tricked the contract into generating around $9 million in vastly inflated trading fees, which Ahmed promptly withdrew.

After the successful heist, Ahmed opened communications with the hacked exchange, offering to return most of the funds in exchange for not getting law enforcement involved.

In total, Ahmed made off with over $12 million from the two audacious exchange hacks.

According to U.S. Attorney Damian Williams, Ahmed then utilized his extensive technical skills to cover his tracks, employing sophisticated money laundering techniques. These included bridging between cryptocurrency networks, using mixers, making exchanges to privacy coins like Monero, and accessing overseas crypto exchanges.

However, law enforcement still managed to identify and apprehend Ahmed for the breaches. The 34-year old New York resident has now pleaded guilty to computer fraud charges.

As part of his plea deal, Ahmed will forfeit over $12 million, including returning $5 million to his victims, marking a major win for authorities seeking to prosecute complex crypto-related cybercrimes.

Ahmed faces up to 5 years in prison when he is sentenced in March 2024. The case underscores that despite the growing sophistication of hackers exploiting vulnerabilities in the crypto sectors expanding attack surface, justice can still catch up to perpetrators who believe they can cleanly get away with brazen cybercrimes and money laundering.

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The Man Who Brought Down Nirvana Finance: Inside the $12M Crypto Heist - Blockonomi

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