IITian CEO's AI Startup Giga Faces $3M Extortion Threat Over Leaked Data

• IITian CEO Varun Vummadi's AI startup Giga is being extorted for $3 million.
• A group illegally obtained confidential company data and threatens to release "manipulated and defamatory" information unless paid in crypto.
• Giga has reported the incident to law enforcement and plans legal action, calling it a "blackmail attempt."
• The extortion follows Giga's recent $61 million Series A funding round, increasing its visibility.
• Amidst the extortion, former employees allege unethical practices at Giga, which CEO Vummadi denies as "wildly false."

Why It Matters: AI startup Giga faces $3M extortion with leaked data, while CEO denies ex-employee allegations.