Tools

The Bank for International Settlements and the New York Federal Reserve have launched Project Pine to test smart contract tools, exploring the application of tokenized monetary policy

ChainCatcher news, according to Cointelegraph, the Bank for International Settlements (BIS) has partnered with the Innovation Center of the Federal Reserve Bank of New York to conduct research testing a tokenized monetary policy toolkit based on smart contracts. This experiment, named Project Pine, aims to explore how blockchain technology can help central banks achieve rapid policy responses in future tokenized financial systems.According to a report released by the BIS on May 15, the research team developed a prototype of a "universal customizable tokenized monetary policy toolkit" and validated its flexibility in hypothetical scenarios. The results showed that central banks could instantly adjust policy tool parameters, such as collateral standards and interest rates, and complete the substitution of liquidity collateral and non-liquid collateral within 10 minutes.The BIS emphasized that if currency and securities tokenization are widely adopted, smart contracts will become the core technology for implementing monetary policy. This framework allows central banks to "instantly" deploy new facilities, such as adjusting reserve interest rates or providing liquidity support, enabling rapid responses to crises like declines in collateral value. The report stated that this speed and flexibility provide central banks with new ideas for addressing "emergencies and rapidly evolving risks."However, the report also pointed out the limitations of the current financial infrastructure. Most traditional systems are not yet compatible with advanced use cases like smart contracts, and central banks may face challenges in advancing technological integration. The testing of Project Pine used the Ethereum ERC-20 token standard and combined it with another "access control" standard to ensure compliance.In recent years, financial institutions have accelerated their layout of tokenization technology. At the Consensus 2025 conference, Joseph Spiro, Director of Digital Asset Products at the Depository Trust & Clearing Corporation (DTCC), stated that stablecoins are an "ideal" tool for real-time collateral management in transactions such as loans or derivatives. This collaboration between the BIS and central banks further confirms the trend of exploration of blockchain technology in the traditional financial sector.

Vitalik: Political tokens "are tools for unlimited political bribery."

ChainCatcher news, according to The Block, Ethereum co-founder Vitalik Buterin stated on social media Thursday that political tokens could lead to "unlimited" bribery. Vitalik's comments are part of a broader discussion about trends in the cryptocurrency industry, especially in the context of political leaders like U.S. President Trump embracing cryptocurrencies. Vitalik pointed out that certain parts of the industry conflict with each other due to their short-term and long-term values, comparing them to "highly addictive mobile games" and chess.Vitalik wrote on X: "Over the past year, we are entering a new order, and now the most powerful people in the world are cheering for the idea of creating tokens for anything, on any scale, for anyone. Therefore, it is time to discuss the difference between the short-term 'sugar high' fun that is not recommended for newcomers and the long-term sense of achievement and wealth accumulation. This is not to say that 'fun is bad,' but rather the distinction between modern highly addictive mobile games and chess or World of Warcraft. It is time to discuss the fact that large-scale political tokens cross another line: they are not just a source of fun, whose harms are limited to the mistakes made by voluntary participants; they are tools for unlimited political bribery, including bribery from foreign governments."The two recently launched large-scale political tokens are TRUMP and MELANIA, both related to President Trump and First Lady Melania Trump. These two tokens were launched before Trump took office as the 47th President of the United States on January 20 and soon experienced significant price drops.

The Ministry of Public Security introduces the issue of telecom fraud in northern Myanmar: Criminal tools are continuously upgraded using virtual currency, AI intelligence, and more

ChainCatcher news, according to Beijing Business Daily, on January 10, the Ministry of Public Security held a press conference where spokesperson Zhang Ming introduced the telecom network fraud issues related to Myanmar that have garnered attention from various sectors. Since the deployment of a special operation to combat telecom network fraud crimes related to Myanmar in July 2023, the Ministry of Public Security has relied on the China-Myanmar law enforcement security cooperation mechanism, directing police forces in Yunnan, Zhejiang, and other regions to conduct joint operations, fully engaging in case investigations. By the end of 2024, over 53,000 Chinese nationals involved in fraud have been arrested, completely dismantling the notorious "Four Families" criminal group in Kokang, Myanmar. The large-scale telecom fraud parks near our border in northern Myanmar have been eradicated, and the special operation has achieved significant interim results, leading to a substantial decrease in the number of telecom network fraud cases and losses nationwide. Currently, cases involving the "Four Families" criminal group have begun to enter the litigation phase.Despite the significant achievements in combating and managing these issues, the current crime situation remains severe and complex. This includes: an escalating offensive and defensive confrontation, with fraud groups continuously updating and upgrading their criminal tools using new technologies such as blockchain, virtual currency, and AI intelligence.

OKLink Annual Security Report: In 2024, losses across the network due to private key leaks decreased by 65% compared to the previous year, thanks to the indispensable role of on-chain tools

ChainCatcher news, OKLink has officially released the 2024 Security Annual Report, which states that the cumulative losses from on-chain security incidents across the network amount to approximately $1.945 billion. The losses due to private key leaks have decreased by 65.45% compared to 2023, totaling about $305 million, which accounts for 16% of the total losses. Among these, phishing scams caused losses of $705 million, accounting for 36% of the total losses. REKT incidents and RugPull incidents caused losses of $383 million and $141 million, respectively.Mainstream public chains remain the primary targets for hacker attacks, with losses for major public chains such as BTC, ETH, and ARB reaching $744 million, $902 million, and $228 million, respectively. In 2024, OKLink continues to make efforts, providing core technical support to over 120 municipal-level units and successfully assisting in handling more than 300 cases, with a total amount involved of approximately $685 million.At the same time, OKLink also offers a variety of on-chain security tools and features, such as address monitoring and token authorization queries, helping users quickly check and manage the assets authorized to smart contracts by addresses, identify suspicious transactions and addresses, thereby preventing fraudulent transactions.
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