Tag: Express

Asia Express – Cointelegraph Magazine

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Our weekly roundup of news from East Asia curates the industry’s most important developments. HTX exchange hacked… again  In the fourth hack affecting the HTX (formerly Huobi Global) ecosystem in just two months, the exchange lost $30 million via a hot wallet hack that occurred on Nov. 22.  In its Nov. 23 announcement, the exchange promised to “fully compensate for the losses caused by this attack and 100% guarantee the safety of user funds,” as well as restore services within 24 hours of the attack. The day prior, the HTX…

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Asia Express – Cointelegraph Magazine

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China to protect NFTs  In a surprise move, the Chinese government has guaranteed legal protection for NFTs. In response to a series of often conflicting judicial opinions on the state of cryptocurrency in the country, the Chinese government has officially issued a legal commentary on dealing with cases of nonfungible tokens (NFTs) theft and their status as virtual property protected by law.  According to a Nov. 9 publication by China’s state-controlled Southwest University of Political Science and Law (SUPL), digital collectibles such as NFTs — unlike ordinary online images — conform to…

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Asia Express – Cointelegraph Magazine

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Visa completes Hong Kong digital currency trial with HSBC and Hang Seng Hong Kong is one step closer to a central bank digital currency (CBDC) with the release of its successful phase 1 results in collaboration with Visa, HSBC and Hang Seng Bank. According to a Nov. 1 announcement, Visa said that it achieved “near real-time” finality with transfers involving tokenized deposits of the digital Hong Kong dollar (e-HKD). “Tokenized deposits were burned on the sending bank’s ledger, minted on the receiving bank’s ledger, and simultaneously settled interbank via the…

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Asia Express – Cointelegraph Magazine

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Our weekly roundup of news from East Asia curates the industry’s most important developments. Largest money laundering scandal in Australia unravels Changjiang Currency Exchange, a money transmitter business based in Australia, has beenbustedin a 230 million Aussie dollar ($145 million) money laundering scandal. On Oct. 26, a 300-strong police operation spanning Melbourne, Sydney, Brisbane, Adelaide and Perth arrested seven individuals — four Chinese citizens and three Australian nationals — after a 14-month investigation. Operating under the front of a legitimate currency exchange business, police say that Changjiang Currency Exchange helped…

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Asia Express – Cointelegraph Magazine

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Our weekly roundup of news from East Asia curates the industry’s most important developments. Bitmain allegedly fired staff after salary complaints Bitcoin application-specific integrated circuit (ASIC) mining manufacturer Bitmain has allegedly fired three of its employees for speaking to the media regarding the withholding of salary payments by their employer.  According to local news reports on Oct. 17, citing an alleged internal Bitmain memo, the company accused three staff members of breaching various clauses in their employment contracts for sharing their remuneration on social media platforms. The note reads:  “The EMT [Executive…

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Asia Express – Cointelegraph Magazine

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Our weekly roundup of news from East Asia curates the industry’s most important developments. SBF’s Chinese bribe scandal worsens According to October 11 testimony from Caroline Ellison, co-founder of FTX-linked hedge fund Alameda Research, her colleague — disgraced FTX founder Sam Bankman-Fried — allegedly paid $150 million in bribes to Chinese government officials in 2021, higher than the $40 million disclosed initially.   Ellison said during the FTX trial that two years prior, $1 billion worth of Alameda Research’s digital assets on crypto exchanges OKX and Huobi were frozen by Chinese law enforcement…

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Asia Express – Cointelegraph Magazine

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Our weekly roundup of news from East Asia curates the industry’s most important developments. 3AC creditors strike back  On Sept. 29, Su Zhu, co-founder of defunct Singaporean hedge fund Three Arrows Capital (3AC) — which prior to its collapse last June managed more than $10 billion in digital assets — was apprehended at Singapore’s Changi International Airport while attempting to flee the country following the issuance of a committal order.  Just days prior to his arrest, Singaporean courts issued an arrest warrant for Zhu after his “deliberate failure to comply…

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Asia Express – Cointelegraph Magazine

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Our weekly roundup of news from East Asia curates the industry’s most important developments. Chinese worker fined $145K over VPN  An unnamed individual in China was fined 1.06 million yuan ($144,907) for using a virtual private network (VPN) to access restricted websites as part of a remote work routine for a foreign employer. According to local media reports from earlier this week, during his employment as a consultant between 2019 to 2022, the unnamed individual accessed GitHub to view source code, answered questions in customer support, held teleconferences via Zoom…

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Asia Express – Cointelegraph Magazine

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Our weekly roundup of news from East Asia curates the industry’s most important developments. JPEX scandal grows to over $166M  Last week’s Token2049 conference in Singapore was a life-changing experience for some; for others, the event did not meet expectations — but for a select group of individuals, the imminent prospect of being pursued by law enforcement meant they had to abandon their booths and flee the event.  On Sept. 21, local news outlets reported that Hong Kong police had arrested 11 individuals linked to troubled cryptocurrency exchange JPEX on…

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Asia Express – Cointelegraph Magazine

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Our weekly roundup of news from East Asia curates the industry’s most important developments. Token 2049, one of the largest crypto conferences of the year, attracted a record 10,000 attendees, 300 speakers and 5,000 companies during the two-day event in Singapore. From Sept. 13–14, attendees entering the majestic Marina Bay Sands Convention Expo and Center were greeted by the energetic beats from the Polyhedra DJ, then to a hall of booths showcasing the latest innovation in the blockchain industry. Aside from the main show, over 400 side events took place…

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