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first_img A man in London was sentenced to two and a half years in prison for a SIM card swapping scam involving nearly £200,000

According to the City of London Police report, 25-year-old London man Ajay Shinjin (also known as AJ Marley Cruz) was sentenced to two and a half years in prison by the Inner London Crown Court for his involvement in a SIM swap fraud case. He pleaded guilty on September 28 to two charges of conspiracy to commit fraud by false representation and transferring criminal property. The case involved the theft of cryptocurrency worth nearly £200,000 (approximately $265,000).In early November 2021, British telecom operator BT discovered unauthorized activity in its systems, where customers' phone numbers were transferred to SIM cards controlled by criminals, who intercepted one-time verification codes sent by banks and cryptocurrency platforms. The police identified several suspects based on device data provided by BT, and Shinjin was linked to four of the devices. He profited over £44,000, which he used for a vacation in Dubai, a luxury apartment in Canary Wharf, and a gold-plated dental grill.Details of the case revealed that one victim lost approximately £40,000 in cryptocurrency on November 2, 2021, with about £27,000 flowing into Shinjin's personal crypto account; a second victim had approximately £17,000 entirely transferred to his wallet; he also assisted in stealing about £8,000 from a third victim's Coinbase account and around £130,000 from a fourth victim. Shinjin was first arrested at his residence in 2021 and was re-arrested at Heathrow Airport upon returning from Dubai in October 2023.

OpenAI responded to the departure of researchers, stating it was due to violations of sensitive information

The head of research at OpenAI issued a statement in response to an open letter from three former employees, Jasmine, Mikita, and Tomek. The company stated that after a thorough investigation, the three violated clear policies regarding the handling of sensitive information; serious breaches of trust discovered during the internal investigation exceeded the scope disclosed in the open letter, leading to the termination of their employment last week, a decision that will be upheld.OpenAI emphasized that this decision is not aimed at those who raise safety concerns or express opinions publicly. The company stated that there are intense and critical safety and research discussions internally every day, and it encourages questioning; it maintains a tolerance for good-faith mistakes and will not fire employees for raising concerns.Regarding the safety issues mentioned in the open letter, OpenAI stated that it is finalizing contracts with third-party security assessment organizations, with details expected to be announced in the coming weeks, and it is committed to including external evaluators in its safety work. The company recognizes that maintaining the monitorability of cutting-edge models requires collective investment from the entire industry, stating that this area has long been a focus of its research and will continue to receive significant resources.

first_img Stablecoin company Frax applies for top-level domain .frax

The stablecoin and payment company Frax, headquartered in the United States, announced that it has submitted an application for its own top-level domain .frax to ICANN, claiming this is the first top-level domain application from a cryptocurrency company published by ICANN. The application is part of the 2026 New Generic Top-Level Domain Program and is supported by ICANN-accredited corporate domain registrar MarkMonitor. If approved, .frax will become a global internet top-level domain similar to .com and .org.Frax plans to allow users to own and manage .frax domain names on its blockchain Fraxtal through the Frax Name Service, while being resolved via the global domain name system. Related registrations will enter the Frax Burn Engine and permanently destroy FRAX. Founder Sam Kazemian stated: the cryptocurrency naming system allows internet identities to be owned, ICANN domains make them universally accessible, and .frax combines both, aiming for ownership to remain on-chain, domain names to be universally available, and to become programmable financial endpoints for people, businesses, applications, and AI agents.The plan will also extend Frax's financial network built around the fully-backed digital dollar frxUSD and the institutional connectivity platform FraxNet. Frax plans to explore the agency and machine payment functionalities of .frax domain names, including support for standards like x402, so that websites, applications, and autonomous software agents can identify counterparties, access services, and programmatically initiate stablecoin payments. Frax claims to have been serving users since 2020 and ranks 5th in the 2026 Fortune Crypto 100 stablecoin category.

Nasdaq CEO: Tokenization can unlock tens of billions of dollars of trapped capital in the global financial system, and AI is crucial for 24/7 trading

Adena Friedman, CEO of Nasdaq, stated at the TOKEN 2049 conference in Singapore that tokenizing government bonds, stocks, money market funds, and funds can enhance collateral liquidity and unlock billions of dollars of trapped capital in the global financial system. Over the past year, institutional interest in tokenization has significantly increased, partly due to the U.S. GENIUS Act establishing a regulatory framework for stablecoins.She mentioned that institutional interest is converging with retail demand for around-the-clock trading. The retail ecosystem is about 10 years ahead, but moving towards a fully 7×24 hour market is a massive undertaking for the financial industry, requiring continuous real-time risk and collateral management. She also pointed out that AI is crucial for 7×24 hour trading, and Nasdaq has launched digital agents on its risk management platform, initially providing recommendations, with banks able to take more direct actions in the future. Arjun Sethi, co-CEO of Kraken, stated that companies outside the U.S. are also very interested in tokenization and entering the U.S. capital markets, including a company with approximately $25 million in revenue and larger international firms. Friedman cautioned that not all assets have sufficient liquidity to support a 7×24 hour trading environment.
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