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BTC $77,282.64 +3.93%
ETH $2,423.63 +4.27%
BNB $640.37 +1.93%
XRP $1.48 +3.14%
SOL $89.17 +2.11%
TRX $0.3267 +0.12%
DOGE $0.1004 +2.47%
ADA $0.2617 +2.74%
BCH $454.73 +3.28%
LINK $9.66 +2.55%
HYPE $44.23 +1.48%
AAVE $117.08 +4.40%
SUI $1.01 +3.36%
XLM $0.1729 +4.59%
ZEC $332.47 -1.18%

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The U.S. federal court dismissed the lawsuit against Binance and Changpeng Zhao related to terrorism

A federal judge in Manhattan, Jeannette Vargas, dismissed a civil lawsuit that sought to hold Binance and its founder CZ accountable, accusing their trading activities of aiding terrorist organizations in carrying out global attacks.The judge found that the 535 plaintiffs (including victims and their families) failed to reasonably explain that the defendants "intentionally conspired with the terrorist attacks, participated in their execution, or ensured the success of the attacks through their actions." The plaintiffs alleged that the attacks occurred between 2017 and 2024 and were carried out by external terrorist organizations such as Hamas, Hezbollah, the Iranian Revolutionary Guard, ISIS, Kata'ib Hezbollah, the Palestinian Islamic Jihad, and Al-Qaeda, attempting to attribute hundreds of millions of dollars in cryptocurrency and transactions with Iranian users to Binance and CZ.The judge noted that while Binance and CZ may have some awareness of the potential for terrorist financing through the exchange, their relationship with terrorist organizations was limited to "their or their affiliates' accounts on Binance and trading in a fair manner." The judge also criticized the plaintiffs' 891-page, 3,189-paragraph complaint as "entirely unnecessary," but allowed for amendments. A Binance spokesperson stated, "The court correctly dismissed these baseless allegations. Binance strictly adheres to compliance requirements and has a zero-tolerance policy for illegal activities on the platform." CZ also mentioned that the plaintiffs were attempting to leverage Binance's acknowledgment in November 2023 of violating anti-money laundering and sanctions laws and paying a $4.32 billion penalty to seek triple damages.

India tightens cryptocurrency regulations to combat money laundering and terrorist financing

According to CoinDesk, India's Financial Intelligence Unit (FIU) has announced stricter identity verification measures for cryptocurrency exchanges to combat money laundering and terrorist financing activities.The new regulations require exchanges to verify the authenticity and biometric features of users by having them take a blinking dynamic selfie, while accurately recording the user's geographic coordinates, time, and IP address. In addition to providing a Permanent Account Number (PAN), exchanges must also collect additional documents such as passports, driver's licenses, identity cards (Aadhaar card), or voter ID cards, as well as mobile phone numbers and email addresses, which will be confirmed via one-time passwords (OTPs). Ownership of user bank accounts will be verified through a "small credit verification" method, while high-risk customers or those associated with tax havens, jurisdictions related to the Financial Action Task Force (FATF), or potential risk exposure individuals or non-profit organizations will need to undergo enhanced due diligence every six months.Exchanges are prohibited from supporting ICOs and from using tools like mixers to obscure transaction trails, making cryptocurrencies untraceable. All platforms must register with the Financial Intelligence Unit, report suspicious transactions, and retain user data for five years. The guidelines indicate that initial coin offerings and initial token sales lack reasonable economic justification and pose "higher and more complex" risks of money laundering and terrorist financing.

Balancer released a vulnerability attack incident report, which was exploited due to a rounding logic error in batch exchange transactions

According to official news, Balancer has released a preliminary report on the vulnerability attack incident, indicating that the Balancer V2 composable stable pools were attacked on November 4 across multiple chains (including Ethereum, Base, Avalanche, Polygon, Arbitrum, etc.).The vulnerability originated from a rounding logic error in the EXACT_OUT transactions during batch exchanges, which the attacker exploited to manipulate the pool's balance and withdraw assets. This incident only affected Balancer V2's composable stable pools, while Balancer V3 and other pool types were not impacted. The Balancer team, along with security partners and white hat teams, acted swiftly by implementing measures such as automatic suspension through Hypernative, asset freezing, and white hat intervention under the SEAL framework, successfully curbing the spread of the attack and recovering some assets. Among them, StakeWise has recovered approximately 73.5% of the stolen osETH, and teams like BitFinding and Base MEV bot have also assisted in recovering some funds. Currently, Balancer is working with security partners such as SEAL and zeroShadow for cross-chain tracking and fund recovery, with the final verified losses and recovery data to be published in a complete technical review report. The official reminder to users is: obtain confirmation information only through Balancer's official channels; operations on V3 and non-stable pools remain safe.
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