In a bid to protect its customers from potential fraud and financial crimes, Bendigo Bank, a prominent Australian financial institution, has announced the implementation of new rules targeting high-risk instant payments to cryptocurrency exchanges. These measures are part of the bank’s ongoing efforts to enhance customer protection and combat the rising threat posed by cryptocurrency-related scams. Enhanced protection for customers
In the fast-evolving world of blockchain technology, smart contracts have emerged as a promising solution to automate and execute agreements without intermediaries. However, it is essential to view smart contracts as a ‘proof-of-concept’ rather than a panacea for universal adoption. This article delves into the challenges and limitations of smart contracts, highlighting the need for a balanced approach and collaboration
Decentralized exchange LeetSwap, operating on Coinbase’s Base network, recently made headlines as it announced a temporary pause on trading due to concerns of a potential exploit. In an effort to safeguard its users and assets, the exchange deemed it necessary to investigate the compromised liquidity pools. This article delves into the details surrounding the incident, the potential exploit, and the
Treasury Prime, a leading Banking as a Service (BaaS) platform, has announced a strategic partnership with Academy Bank. This collaboration aims to provide businesses with seamless access to Academy Bank’s deposit services, enabling them to launch and scale their payment and deposit products. The partnership represents a significant step forward in the realm of embedded finance, as non-financial companies increasingly
Cybercrime remains a significant threat to organizations across the globe, and the emergence of the Space Pirates cybercrime group has made the situation even more concerning. Since late 2019, this notorious group has been actively engaged in espionage and data theft, causing alarm among security experts. Recent developments indicate that the Space Pirates have not only enhanced their technical expertise
The march of the Russian private military company Wagner Group towards Moscow in June triggered a remarkable surge in trading volume between the stablecoin Tether (USDT) and the Russian ruble. As Russian traders sought safety amidst a depreciating ruble and Wagner’s rebellion exposed weaknesses in Russian power structures and President Vladimir Putin’s grip on the country, the trading volume in
Advanced persistent threat (APT) actors have recently been discovered exploiting a critical flaw in Ivanti Endpoint Manager Mobile (EPMM) to target Norwegian entities, including a government network. This zero-day vulnerability, identified as CVE-2023-35078, has been actively exploited by the threat actors since at least April 2023. This article will delve into the severity of the exploitation, tactics employed by the
In 2021, President Xi Jinping argued that “technological innovation has become the main battleground of the global playing field, and competition for tech dominance will grow unprecedentedly fierce.” This statement holds particularly true in the realm of cryptocurrency, where China’s influence and dominance have been significant. This article explores China’s role in the crypto landscape, examining the power of Chinese
The world of blockchain-based gaming is about to witness a groundbreaking addition with the upcoming launch of Golden Egg Wonderland. This innovative Web3 game promises to revolutionize the gaming industry by offering players the opportunity to exchange in-game Non-Fungible Tokens (NFTs) for real golden eggs. With its unique “play-for-gold” gameplay, Golden Egg Wonderland aims to bring digital entertainment closer to
The wealth management industry in Asia is experiencing growing pressure to improve client experiences in an increasingly digital world. However, many firms are falling short in meeting the expectations of investors due to poor mobile app performance and a lack of high-quality channel experiences. In this article, we will delve into the challenges faced by Asian wealth managers and explore
The landscape of wealth management is undergoing a transformative shift, driven by rapid technological advancements. While advice and suggestions have long been the core of traditional wealth management, technology promises to take it beyond mere recommendations. In this article, we explore how emerging technologies are revolutionizing wealth management, focusing on the role of customer experience, automation and AI, disruptive robo-advisors,
In an interesting turn of events, dollar-pegged stablecoins have emerged as potential alternatives to traditional bank deposits. According to Brendan Malone, a former analyst at the Federal Reserve Board, stablecoins are inherently less susceptible to bank runs, owing to the strict management of reserves by their issuers. In this article, we delve into the structure and advantages of stablecoins, assess
