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Web3 security firm Cyvers detected suspicious transactions on the wallet of Indonesian exchange Indodax on September 11. The attack involved more than 150 transactions and an estimated $20.58 million worth of digital assets were allegedly stolen. Some experts suspect that North Korean hacker group Lazarus Group may have been responsible due to the characteristics of the attack.
Indodax hack shows signs of Lazarus group involvement

Kenyan President William Ruto has announced measures to prevent artificial intelligence (AI) from spreading misinformation, alongside the launch of the fifth National Action Plan for the Open Government Partnership. The initiative aims to promote international cooperation on the ethical use of AI. This follows incidents of social unrest caused by AI in 2021 and 2023, and mass protests earlier this year.

Capstone Technology, a UAE-based blockchain and AI company, has raised $5.45 million to fund the development of its GAYA blockchain project. The project aims to create a network for entrepreneurs in the gaming, AI, and entertainment sectors. Capstone Technology plans to use the funds to manage its technology assets, develop Web3 applications, expand regionally, and improve its platform.

According to Liminal, Grant Thornton’s review of Liminal’s infrastructure found no indication of any security breach in the company’s front-end or back-end systems. Following the Wazirx breach that resulted in the theft of more than $230 million, internal and third-party investigations at Liminal identified data discrepancies, although no security vulnerabilities were discovered. The company stressed that it does not have the ability to initiate transactions on behalf of customers, emphasizing its security protocols.

Missouri resident Lyell Champagne Jr. was sentenced to three years in federal prison for fraud and tax violations related to cryptocurrency. He and an accomplice attempted to steal money by accessing victims’ bank accounts and filing fraudulent tax returns. Law enforcement has recovered most of the stolen funds. Champagne pleaded guilty to multiple charges in June, while his accomplice awaits sentencing in September.

Ron Paul, former US representative and presidential candidate, has argued that even when it comes to proposals from the highest levels of power, government efficiency is a paradox. Paul explains that government is impersonal and cannot be rationally economized, because its decisions are based on politics and can never be “efficient”.
Ron Paul Criticizes Proposed Musk-Led Efficiency Commission: Government Can Never Be Efficient

Economist and gold bug Peter Schiff has sounded a note of caution about the Federal Reserve's latest actions, linking the dramatic rate cut to rising gold prices and a weakening US dollar. His warnings of a deeper recession and rising inflation add to concerns about future economic stability. "Game over for the Fed," Schiff stressed.

The Bank of Russia aims to open its payment infrastructure for Russia’s central bank digital currency (CBDC), the digital ruble, by July next year. Larger banks will offer digital ruble accounts and services by that date, with smaller institutions to follow. The initiative is aimed at improving payment efficiency and reducing costs, with retailers also being asked to accept the digital ruble. A pilot program is currently underway involving banks, individuals and businesses.

The Nigerian government has filed criminal charges against four individuals and several companies for allegedly conducting illegal cryptocurrency transactions, including converting USDT to naira, without a banking license. The four are Ejiogu A.
Chinedu, Nnamdi F. Okereke, Oty Ugochukwu Stanley and Chukwuebuka F. Ogumba. The defendants are accused of violating the Banks and Other Financial Institutions Act and the Foreign Exchange Act.

New BRICS payment platforms, which offer alternatives to the US dollar and the euro, are attracting global attention, Russian Foreign Minister Sergey Lavrov said. These systems allow countries to conduct economic activities without relying on currencies used as political tools by Western powers. The Russian official noted that there is growing interest in these platforms as a way to avoid US and Western sanctions, with some countries joining BRICS initiatives in search of financial independence.

Saudi minister hints at 86 million tonnes of Petroyuan, says country is 'open to new ideas'

Bandar Alkhorayef, Saudi Minister of Industry and Mineral Resources, stated that although the yuan – the use of the Chinese currency to pay for oil shipments – is not “critical to the ministry,” the country is open to new ideas and tries not to mix politics and commerce. This is a reference to the use of the yuan for this purpose.

DBS Bank, Singapore’s largest bank, has announced plans to launch over-the-counter (OTC) cryptocurrency options and structured bonds trading for institutional clients in the fourth quarter of 2024.
The new service will give institutional investors access to bitcoin and ethereum, the two largest cryptocurrencies by market capitalization.
The initiative aims to provide sophisticated tools for managing digital asset portfolios, including hedging against market volatility.

China’s digital yuan initiative has progressed significantly, backed by more than a decade of research and four years of pilot testing, according to Lu Lei, deputy governor of the People’s Bank of China (PBOC). Trials for China’s central bank digital currency (CBDC) have been conducted in 17 different regions, accumulating a total transaction value of 7 trillion yuan (nearly $1 trillion). In addition, China is collaborating with several countries on a cross-border digital currency project, aimed at improving the global payment system.

New data shows that 134 countries, representing 98% of global GDP, are currently exploring central bank digital currencies (CBDCs), with 66 in the pilot or development stages. Every G20 country is involved in CBDC efforts, with notable leaders like China and European nations pushing ahead. The United States still lags behind Europe and Japan but is exploring cross-border initiatives like Project Agorá.

Former US President Donald Trump has announced the launch of his family’s cryptocurrency platform, World Liberty Financial, positioning it as an alternative to traditional banks. He encouraged users to join a live event on X next Monday. “We are capturing the future with cryptocurrency and leaving the slow and outdated big banks behind,” Trump said.

Washington state’s financial regulator has issued a warning about potential cryptocurrency fraud involving mining platforms and wallets. A Washington investor was defrauded of more than $750,000 after investing. Although the investment reportedly grew to $1.4 million, the investor has continued to face tax and fee demands.
Washington Investor Defrauded Out of Over $750,000 in Cryptocurrency Mining Scam