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The Russian Financial Supervisory Authority will be authorized to monitor all cryptocurrency transactions, with those over 60,000 rubles required to be reported

According to Bits.media, a new draft bill submitted by the Russian government aims to grant the Financial Supervisory Authority the power to monitor all cryptocurrency transactions. For cryptocurrency transactions exceeding 60,000 rubles and foreign trade cryptocurrency transactions exceeding 1,000,000 rubles, the agency will collect complete information such as the full names or corporate names of the payer and payee, wallet addresses, actual addresses, birth dates, and taxpayer identification numbers. Transactions below 60,000 rubles only require the provision of names and wallet addresses.The bill also stipulates that the new limit for digital asset transactions by banks is 1% of the bank group's capital, and banks must hold corresponding funds to cover risks for the purchased cryptocurrencies. The central bank will be authorized to restrict or prohibit specific cryptocurrency operations when they threaten investor interests or may "undermine the stability of the financial system," with the scope extending from non-bank financial institutions to banks. The bill is expected to take effect simultaneously with the main cryptocurrency regulatory legislation, originally scheduled for implementation on July 1, but the review has been postponed. The first deputy governor recently stated that the relevant laws may take effect on September 1.

Security Alert: 30 malicious npm packages disguised as trading bot repositories, targeting the theft of developer keys and mnemonic phrases

SlowMist issued a security alert, detecting a coordinated malicious npm supply chain attack. The attackers utilized fake trading bot repositories and DeFi-themed npm packages to deploy JavaScript information stealers, targeting npm users, DeFi developers, and trading bot users.This attack involved 30 malicious npm packages, among which stake-math@3.5.4 appeared as a locked dependency in the donoaccestag/forex-mt5-trading-bot repository. This repository presented approximately 2300 highly homogeneous bulk-generated forks, mostly concentrated under the poly-stocks account, with signals being exceptionally clear. The sensitive data that attackers could steal is extensive, including cryptocurrency wallet libraries, browser cookies and saved passwords, browsing history, developer credentials, shell history, password manager libraries, private keys, mnemonic phrases, and API tokens exposed in source code.SlowMist recommends that developers immediately remove the affected npm packages, audit package.json and package-lock.json, and check CI logs for any of the 30 malicious packages; consider any system that has executed npm install as potentially compromised, rotate all exposed wallets, private keys, npm tokens, cloud credentials, SSH keys, and API tokens, and rebuild the affected environment from a clean image.

first_img ARK Invest researchers commented on OpenUSD: Essentially similar to early DAOs, competitor alliances face multiple obstacles

ARK Invest Research Director Lorenzo Valente commented on the OpenUSD stablecoin project launched by several institutions. He stated that, despite the strong capabilities of the participants (including Visa, Stripe, Mastercard, BlackRock, Coinbase, etc.), OpenUSD faces multiple significant obstacles:First, there are liquidity and cold start issues; USDC and USDT have already formed strong network effects, dominating exchanges, payment processors, and brokers, making it difficult for the new stablecoin to gain trading pairs and large-scale holding willingness;Second, the decision-making speed of the alliance composed of 500 competitors will be extremely slow, lacking successful precedents, and conflicts of interest will be hard to coordinate;Third, the regulatory and antitrust risks are extremely high; the joint issuance of currency by large banks and card networks is likely to become a regulatory focus;Fourth, the revenue-sharing model results in issuers retaining too little capital, making it difficult to cover high operational and promotional expenses;Fifth, the actual commitments from partners are limited, mostly consisting of letters of intent (LOI), and parties are still supporting competitors, preferring multiple hedges rather than exclusive binding.Valente concluded that OpenUSD is essentially similar to "a DAO of multiple competitors," making it difficult to execute and make decisions quickly, and it may ultimately repeat the governance failures of early DAO projects, which could not be effectively implemented.Affected by the OpenUSD plan, Circle's stock fell over 17% in a single day, and ARK Invest took the opportunity to buy in.
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