1. Media Reveals Another Kidnapping Case in the Philippines, Demanding 1.5 Million USDT link

Caixin has disclosed another kidnapping case in the Philippines, involving Li Jia, a German executive of a Chinese-owned company, and his Austrian-Chinese friend. They traveled to the Philippines in January this year for a business inspection and were subsequently kidnapped. The kidnappers demanded 1.5 million USDT, of which the family paid 190,000 USDT. However, both kidnapped individuals remain missing to this day. Multiple international law enforcement agencies have intervened, but there has been no progress so far.

2. Malaysia’s Deputy Minister of Energy Transition: Illegal Cryptocurrency Miners Stole $722 Million Worth of Electricity link

Malaysia’s Deputy Minister of Energy Transition, Akmal Nasrullah Mohd Nasir, revealed at an event that illegal cryptocurrency miners stole $722 million worth of electricity from 2018 to 2023. Authorities seized and disposed of 2,022 items, including Bitcoin mining equipment. Akmal Nasrullah noted that these miners believed their activities wouldn’t be detected due to the absence of electric meters, but energy companies have various methods to detect abnormal energy consumption in areas. The Malaysian government has prioritized stopping electricity theft by crypto miners and plans to increase renewable energy production.

3. Singapore Court Rules in Favor of Fantom Foundation in Multichain Lawsuit link

The Singapore High Court ruled on Monday that Fantom Foundation won the lawsuit against Multichain, determining that Multichain breached its contract and must compensate $2.1 million in damages. Fantom Foundation stated in a release, “While this judgment pertains only to Fantom’s own losses, the Foundation’s aim in filing the lawsuit is to facilitate the liquidation of Multichain and appoint a third-party liquidator by the court — partially funded by Fantom Foundation — to help recover and distribute assets missing or frozen due to the Multichain attack.”

4. Cambodia’s Huione Guarantee Platform Supports Global Scams, Involving $11 Billion link

“Wired” magazine, citing its own research and information from crypto tracking firm Elliptic, reported that Huione Guarantee, an online financial platform connected to Cambodian ruling families, is accused of facilitating global fraud activities. According to Elliptic’s investigation report, merchants on this platform provide services such as deep fake creation, money laundering, and “pig slaughtering” scam website development, with the total amount involved reaching as high as $11 billion. Transactions on the platform primarily use USDT (Tether).

5. Bithumb Expands Unfair Trading Report Channels for Virtual Assets, Offers up to 300 Million KRW in Rewards for Reporting Corruption by Bithumb Staff link

Bithumb, South Korea’s second-largest exchange, announced its proactive measures against unfair trading practices such as insider trading, market manipulation, and illicit transactions, ahead of the implementation of the Virtual Asset User Protection Act. They plan to expand the reporting channels for unfair trading and investment scams related to virtual assets, and have instituted a special reward system for reports involving Bithumb employees, with bonuses reaching up to 300 million Korean won. Reports are encouraged for activities such as demanding compensation for listing, unauthorized disclosure or use of confidential information, direct or indirect market manipulation, acceptance of monetary favors from stakeholders, improper use of company assets or information for personal gain, among others.

6. Cryptocurrency Exchange Deepcoin Becomes Main Sponsor of Korea’s MMA Professional League Black Combat link

Cryptocurrency exchange Deepcoin has announced its sponsorship of South Korea’s premier MMA league, Black Combat. The partnership aims to collaborate on brand promotion involving crypto assets and mixed martial arts, content creation, and broader initiatives. Black Combat stands as South Korea’s pioneering sports organization for MMA competitions, holding significant prestige among young male demographics in the country. Earlier, Deepcoin became the seventh global exchange to integrate the CODE compliance solution, aligning with South Korea’s cryptocurrency Travel Rule regulations.

7. Terraform Labs Considers Selling Four Businesses to Complete Liquidation link

Terraform Labs has announced its active sale of several assets, including the portfolio tracking platform Pulsar Finance, the cryptocurrency wallet platform Station, the no-code DAO management platform Enterprise, and its smart contract automation protocol Warp. The sale aims to “maximize value for creditors and other stakeholders” and is part of Terraform Labs’ broader strategy to gradually wind down operations as per terms agreed upon with the U.S. Securities and Exchange Commission. Interested investors can contact their investment bank, CAVU Securities, for further details.

8. Japanese Listed Company Metaplanet Increases Holdings to 42.47 BTC link

Japanese listed company Metaplanet has announced the additional purchase of 42.47 BTC. Currently, Metaplanet holds a total of 203.734 BTC, acquired at an average price of approximately $62,719.

9. Anime “Attack on Titan” Enters the Cryptogaming World Through Collaboration with The Sandbox link

The popular Japanese anime “Attack on Titan” will enter the world of crypto games through a collaboration with the Ethereum-based metaverse game The Sandbox. This partnership announcement reveals plans to create an interactive “Attack on Titan Land” within The Sandbox’s virtual world. The Sandbox, in collaboration with Minto and Copro Corporation, has obtained authorization from the IP owner Kodansha to produce NFTs and develop this themed area. The goal of this collaboration is to present the post-apocalyptic world of the series in an interactive format.

10. HashKey Chain Mainnet Set to Launch in the Fourth Quarter link

HashKey Group has announced that its Ethereum Layer2 network, HashKey Chain, will launch its mainnet in the fourth quarter. HashKey Chain utilizes ZK-proof zero-knowledge proof technology, aiming to provide users with a low-cost, efficient, and developer-friendly on-chain solution. The network plans to incentivize contributors to the ecosystem through HSK rewards.

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