Daily Report | Singapore police arrest over 10 people and seek 8 others, suspected of fraud, gambling, and money laundering; blockchain AI project Jada AI completes $25 million financing
ZetaChain, a Layer 1 network for full-chain interoperability, has completed a $27 million equity financing; Shandong has cracked a cross-border gambling fraud case involving over 1.5 billion yuan.Organizer: Grapefruit, ChainCatcher
"What Important Events Happened in the Last 24 Hours"
1. Shandong Police Crack Down on a Cross-Border Gambling Fraud Case Involving Over 1.5 Billion Yuan, Criminal Group Settled Transactions via Virtual Currency
According to ChainCatcher, as reported by Phoenix News, recently, the Jining police in Shandong province cracked down on a cross-border gambling and distribution of obscene materials case, which was listed as a target case by the Ministry of Public Security during the "Clean Network 2023" special operation. Six criminal groups were dismantled, 64 suspects were arrested, and a batch of mobile phones and computers used in the crime were seized. Investigations revealed that the involved online platform accepted illegal deposits totaling 1.581 billion yuan, with the platform profiting 516 million yuan. It is reported that the criminal group typically used foreign social networking software for communication and settled funds through virtual currencies. (Source link)
2. Blockchain AI Project Jada AI Completes $25 Million Financing, LDA Capital Participates
According to ChainCatcher, as reported by CoinDesk, the AI project Jada AI, which uses blockchain technology, has completed a $25 million financing round, with alternative investment group LDA Capital participating. The funds will be used to expand the project's development team and add new organizations. (Source link)
3. Lianhe Zaobao: Singapore Breaks Up the Largest Money Laundering Case in Recent Years, 10 People Including Founder Su Baolin of Xinbao Investment Arrested
According to ChainCatcher, as reported by Lianhe Zaobao, Singapore has cracked down on the largest money laundering case in recent years, with 10 people including Su Baolin, the founder of Xinbao Investment, arrested. It is reported that the 10 foreign nationals arrested in this case are suspected of crimes such as document forgery and money laundering, with the total value of the involved assets estimated at around 1 billion yuan. Preliminary investigations indicate that all 10 individuals are originally from Fujian Province, China.
The detailed list includes: Su Haijin (40 years old), Wang Dehai (34 years old), Su Jianfeng (35 years old), Su Wenqiang (31 years old), Wang Baosen (31 years old), Chen Qingyuan (33 years old), Su Baolin (41 years old), Wan Shuiming (42 years old), Zhang Ruijin (44 years old), and Lin Baoying (43 years old). (Source link)
4. Web3 Security Company PeckShield Incubator Aegis Completes Millions of Dollars Seed Round Financing, NLVC and Others Participate
According to ChainCatcher, Web3 security company Aegis announced the completion of a multi-million dollar seed round financing, with participation from Generative Ventures, NLVC, and Qiming Venture Partners.
Aegis was established in 2022 and incubated from another global blockchain security company, "PeckShield." Aegis aims to create a low-threshold security platform to serve numerous Web3 end users. Currently, Aegis's products exist as plugins in browsers, providing protective functions during pre-transaction, in-transaction, and post-transaction phases. After a transaction is completed, Aegis reduces asset losses caused by excessive wallet and signature authorizations through its revocation feature. (Source link)
5. Singapore Police Arrest Over 10 People and Issue Warrants for Eight, Suspected of Fraud, Gambling, and Money Laundering
According to ChainCatcher, Singapore police announced the arrest of 10 suspects, with 12 others assisting in the investigation, and eight currently wanted by the police. These individuals (all holding Chinese passports, three of whom are Chinese nationals) are suspected of participating in money laundering of proceeds from organized crime activities overseas, including fraud and online gambling.
Authorities issued disposal bans on 94 properties and 50 vehicles, with a total estimated value exceeding 815 million Singapore dollars. The police also froze over 35 related bank accounts (with a balance exceeding 11 million Singapore dollars), cash (including foreign currency) totaling over 230 million Singapore dollars, multiple pieces of jewelry and ornaments, and 11 documents related to virtual asset information.
The police stated that all involved individuals are neither Singapore citizens nor permanent residents. According to relevant laws, individuals convicted of money laundering can face up to 10 years in prison, a fine of up to 500,000 Singapore dollars, or both. (Source link)
6. Full-Chain Interoperable Layer 1 Network ZetaChain Completes $27 Million Equity Financing, Jane Street Capital and Others Participate
According to ChainCatcher, ZetaChain, a full-chain interoperable Layer 1 network, announced the completion of a $27 million equity financing round, with participation from Blockchain.com, Human Capital, VY Capital, Sky9 Capital, Jane Street Capital, VistaLabs, CMT Digital, Foundation Capital, Lingfeng Capital, GSR, Kudasai, and Krust.
It is reported that ZetaChain's mission is to establish a new standard for blockchain interoperability, allowing users to manage all their assets and data from a single platform, regardless of which blockchain they are created or stored on (including non-smart contract chains like Bitcoin and DogeCoin), without the need for bridging or wrapping tokens.
According to official data, the ZetaChain ecosystem has currently deployed over 27,000 dApp contracts, covering cross-chain DeFi, NFT, Web3 social, identity, and gaming protocols. More than 1.7 million users have participated in the ZetaChain testnet, completing over 13 million transactions. (Source link)
"What Exciting Articles Are Worth Reading in the Last 24 Hours"
1. "Financial Times: Has Binance Lost Its Chance to Dominate the Crypto Market?"
If Binance could weather the regulatory storm following the FTX collapse, it would become the preferred venue for trading crypto tokens, and CZ could position himself as the "acceptable face" of cryptocurrency, even though many still view the market as the Wild West. Binance's scale is not just a concern for regulators. Crypto advocates also believe that in an industry that champions decentralized finance, no single participant or entity should theoretically hold too much influence.
The cryptocurrency market often exhibits high cyclicality, and this cyclicality is very consistent and not coincidental. They are predictable. If we guess correctly, this has a huge impact on the future of the cryptocurrency market. Increasing evidence suggests that we are in the early stages of a new cycle, with risk assets like stocks and cryptocurrencies subtly confirming this throughout the year.
