Tag: Report

China issues first arrest over fake news created with ChatGPT: Report

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A suspect identified only as “Hong” was detained by local authorities and arrested in the Gansu district of China after allegedly using ChatGPT to generate fake news stories.  According to a report from the South China Morning Post, Hong was detained after an investigation into an unsubstantiated article relating to a train crash was discovered on April 18 by law enforcement agents. Hong’s arrest for “using artificial intelligence technology to concoct false and untrue information” came after cybersecurity specialists discovered at least 20 accounts had simultaneously posted the fake news article…

Tencent-backed Everledger collapses amid lack of funding: Report

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The Australian blockchain company Everledger has reportedly entered insolvency proceedings after failing to raise new funding from an undisclosed investor. Everledger, which uses blockchain to track the provenance of diamonds and other goods, failed to make its latest funding round happen, the AFR reported on May 8. Subsequently, Everledger was quietly placed into voluntary administration as the firm could not pay its debts. All Everledger employees were given layoff notices on March 31, with Vincents Chartered Accountants being appointed as administrators on April 24. The first meeting of creditors was…

Liechtenstein Plans to Add Bitcoin as Payment Option for State, Prime Minister Daniel Risch Says: Report

The European Union is now finalizing its landmark licensing regime known as the Markets in Crypto Assets (MiCA) regulation – something that could draw to the region crypto firms seeking regulatory clarity. Although Liechtenstein is not a member of the bloc, it is part of the greater European Economic Area (EEA), to which the framework’s relevance can be extended. Source AddBitcoinDanielLiechtensteinMinisterOptionPaymentPlansPrimeReportRischState CryptoX Portal

South Korea Lawmaker Kim Nam-kuk Investigated by Prosecutors Over Suspicious Crypto Transfers: Report

Rep. Kim Nam-kuk of the Democratic Party of Korea allegedly withdrew 800,000 WEMIX tokens from late February to early March in 2022, and the transactions were reported to the Financial Services Commission’s Financial Intelligence Unit (FIU), according to CoinDesk Korea. Kim’s WEMIX holdings stood at 6 billion won ($4.5 million) between January and February 2022. Source

US Justice Department investigating Binance for violating Russian sanctions: Report

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Binance is under investigation by the United States Justice Department (DOJ) national security division for allowing Russians to use the cryptocurrency exchange in violation of U.S. sanctions, according to a report that appeared in Bloomberg on May 5. There have been no accusations against the company or its executive in connection with the investigation. The national security probe is being carried out in tandem with a criminal division investigation, the news service said, citing five unnamed sources. Binance is the object of several investigations in the United States, including a…

Block’s Cash App Q1 report reveals $2b in BTC revenue

Jack Dorsey’s Block recorded a stunning $2.16 billion in bitcoin (BTC) sales in Q1. The fintech company’s main product, Cash App, generated 25% more bitcoin income yearly. The shareholder letter states that the multi-billion dollar bitcoin revenues were attributed to an increase in the quantity of bitcoin sold to customers” and were “partially offset” by a bitcoin market price reduction compared to the same period in 2022. Block’s 2023 Q1 findings The financial technology company had a 26% year-over-year increase in sales during the first quarter, and it also posted earnings per…

Prosecutor says Do Kwon’s extradition to South Korea would best serve Terraform Labs’ victims: Report

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South Korean authorities are seeking the extradition of the co-founder and former CEO of Terraform Labs, Do Kwon. The prosecutor overseeing the investigation believes his repatriation would best serve the victims of the TerraUSD (USTC) and LUNA token collapses, The Wall Street Journal reported.  South Korea is the place where most of the crimes Kwon is accused of took place, according to Dan Sung-han, leader of South Korean prosecutors investigating the crash of the two cryptocurrencies, which erased nearly $40 billion from the Terra ecosystem. “Given the nature of this incident, we…

BNP Paribas Will Link Digital Yuan to Bank Accounts for Promoting CBDC Use: Report

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