All JD stablecoins in the present day are scams
All companies claiming to supply entry to JD.com’s stablecoin are fraudulent, the Chinese language e-commerce big mentioned in a statement posted on Weibo, a microblogging platform.
JD.com mentioned entities are deceptive the general public by claiming to have partnered with its Hong Kong subsidiary, JD CoinLink. The corporate emphasised that it has not issued a stablecoin at this level or shaped any such partnerships.
Fraudulent campaigns are rising in parallel, in accordance with a number of WeChat accounts warning towards stablecoin scams. Fraudulent campaigns are promising customers 5,000 JD.com stablecoins for signing up and extra rewards for referring mates.
JD.com has lately proven robust curiosity in stablecoins. It plans to use for a stablecoin license in Hong Kong, the place a new regulatory framework comes into impact on Aug. 1. The corporate has additionally been amongst a number of Chinese language tech companies lobbying the Individuals’s Financial institution of China to permit yuan-pegged stablecoins within the area.
China has banned crypto buying and selling and mining, as a substitute selling its central financial institution digital foreign money, the digital yuan. However lately, some teachers and coverage advisers have begun advocating for a extra open method to crypto.
In Might, the state-backed Worldwide Financial Institute republished an article discussing Bitcoin’s potential as a reserve asset. The next month, a commentary in a paper affiliated with one in every of China’s high analysis our bodies warned that US dollar-backed stablecoins pose a risk to China’s financial sovereignty and that Beijing ought to participate in international discussions.
On the identical day the US Senate handed the stablecoin-focused GENIUS Act, Individuals’s Financial institution of China Governor Pan Gongsheng introduced the creation of a world operations heart to advertise the digital yuan.
At a current panel discussion among legal experts on stablecoins hosted by Journal, Winston Ma, former managing director of China’s sovereign wealth fund, famous that Pan’s speech referenced “CBDC stablecoins,” suggesting that Beijing might view central financial institution digital currencies and stablecoins as a single idea.
Solana dev impersonators goal South Korean discussion groups
The debut of a SOL staking ETF in America has coincided with a wave of phishing scams in South Korea concentrating on customers by pretend Solana-related teams.
Victims had been lured with phishing hyperlinks that redirected them to counterfeit web sites mimicking Solflare, a preferred Solana pockets. The websites promised free SOL rewards for making a pockets. As soon as arrange, customers had been inspired to stake their tokens with the promise of each day curiosity payouts, main many to deposit their SOL.
Scammers impersonated Superteam Korea, the native chapter of Solana’s developer group, by creating pretend group chats on the messaging app KakaoTalk. These chats had been styled to look reputable, utilizing official Solana branding, partnership bulletins and occasion updates. Fraudulent accounts within the teams even used the actual names and pictures of people affiliated with Superteam Korea.
Some victims went additional, transferring fiat foreign money to financial institution accounts offered by the scammers. The pretend pockets interfaces displayed fabricated balances, giving the phantasm that SOL had been deposited.
When victims tried to withdraw earnings or transfer their tokens to actual wallets, the scammers both eliminated them from the discussion groups, stopped responding, or shut down the pretend web sites to get rid of traces of the fraud.
Indian crypto trade CoinDCX below hearth for sudden delistings
Indian cryptocurrency trade CoinDCX is dealing with a backlash after it introduced its choice to delist round 50 buying and selling pairs with out prior discover.
Customers took to social media to complain that they had been pressured to promote their holdings, however CoinDCX CEO Sumit Gupta clarified that the delistings affected solely margin buying and selling pairs, not spot buying and selling. The tokens in query stay out there for spot buying and selling, he mentioned.
In accordance with Gupta, the transfer was pushed by India’s harsh tax regime on crypto. Margin buying and selling, he defined, leads to a better tax deducted at supply (TDS) than prospects sometimes count on. India at the moment imposes a 1% TDS on crypto transactions above 10,000 rupees (about $115), that means these above the edge incur extra tax funds. As well as, crypto buyers face a 30% flat tax on capital beneficial properties, making India one of the crucial punitive crypto tax environments on the planet.
Not too long ago, CoinDCX was pressured to reverse a choice on the delisting of a number of spot buying and selling pairs after group backlash. Gupta acknowledged that the trade’s communication “might have been achieved higher.”
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Crypto investigators be part of probe into South Korea’s former first girl
A staff of prosecutors specializing in crypto-related monetary crimes has reportedly been deployed to assist South Korea’s investigation into former first girl Kim Keon Hee, because the probe expands to cowl shamanic affect, abroad playing by spiritual leaders and potential bribery on the presidential residence.
President Yoon Suk-yeol was impeached after declaring a short-lived martial law in late 2024. The investigation now facilities on alleged bribery tied to his spouse, Kim.
Three crypto-focused prosecutors have reportedly joined a brand new unit investigating Jeon Seong-bae, a shaman accused of appearing as a behind-the-scenes energy dealer throughout Yoon’s 2022 presidential marketing campaign. Jeon is suspected of meddling in high-level appointments, influencing coverage choices and delivering items to Kim.
The particular counsel has additionally inherited a case from the crypto unit of the Seoul Southern District Prosecutors’ Workplace involving Han Hak Ja, chief of the controversial spiritual group Unification Church. Prosecutors allege {that a} former senior Unification Church official gave luxurious baggage and a diamond necklace to the shaman, who then gave them to Kim between April and August 2022, allegedly to affect political choices.
Han allegedly misplaced giant sums of cash in Las Vegas casinos courting again to 2008. Investigators suspect church funds might have been misappropriated and funneled by illicit channels. The Unification Church has denied any wrongdoing, stating that abroad journeys are a part of routine missionary exercise.
The probe has since widened to incorporate allegations involving an unregistered “ghost constructing” on the presidential residence in Seoul. The construction, believed to be a display golf facility constructed throughout Yoon’s presidency, was referred to prosecutors by the Board of Audit and Inspection earlier this yr. Authorities are investigating who funded the development.
The particular counsel staff formally launched its investigation on July 2. Beneath South Korean regulation, it has 60 days to conduct its inquiry, with a potential 30-day extension if accepted by the president.
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Yohan Yun
Yohan Yun is a multimedia journalist overlaying blockchain since 2017. He has contributed to crypto media outlet Forkast as an editor and has lined Asian tech tales as an assistant reporter for Bloomberg BNA and Forbes. He spends his free time cooking, and experimenting with new recipes.
