Seongnam City Hosts Seminar on Industry 4.0 Advancement

Blockchain gaming platform Intella X has partnered with Galxe, a Web3 protocol that allows users to own, manage and share their digital credentials, according to an official announcement by Intella X’s operator Neowiz on Tuesday (KST). The two companies vowed to leverage Galxe's community network and expertise to create an Intella X channel on the Galxe platform, revitalizing the Intella X ecosystem.Photo by GuerrillaBuzz on Unsplash"Through this partnership, we look forward to exchanging our knowledge with Galxe and effectively growing the Intella X community, which will help revitalize the Intella X ecosystem and strengthen our global competitiveness," said Jose Ko, CEO of Intella X. Leading the way in Web3 communitiesWith over 14 million on-chain users, Galxe is a pioneer in Web3 community building. Its vast network supports 26 blockchains and various social networking websites, including X, Discord and more. In particular, the protocol also operates a rewards-based Loyalty Points system with over 3,300 partners, including Optimism, Polygon and Arbitrum, which distributes points rewards based on participation in project campaigns. "We will strive to leverage the Galxe community and introduce Web3 technology that serves to expand the Intella X ecosystem. Through our collaboration, we will bring innovations, developers and gamers to the Web3 market,” said Galxe CEO Charles Wayn. Revolutionizing blockchain gamingIntella X, which is built on the Polygon Network, is a Web3 gaming platform that emphasizes contribution and rewards. Services include a decentralized exchange (DEX), NFT marketplace and digital wallet, as well as a service protocol that rewards platform participants. In December last year, the platform also beta-launched a service last month dubbed Space Candy Store, an innovative platform service designed to reward gameplay.

dtcpay, a regulated and licensed digital payment services provider headquartered in Singapore, has announced that it is changing direction, and adopting a stablecoin-only digital payments model. Phasing out Bitcoin, EtherThe company set out details of its new stablecoin-only approach in a series of posts on X on Dec. 3. dtcpay will phase out support for other cryptocurrencies such as Bitcoin and Ether by the end of 2024. It will then transition to the exclusive use of stablecoins, starting with Tether (USDT) and Circle’s USD Coin (USDC). Additionally, FDUSD, a U.S. dollar stablecoin issued by Hong Kong’s First Digital, and Worldwide USD (WUSD), a stablecoin which was developed by the Worldwide Stablecoin Payment Network (WSPN), a Singapore-based project, will be supported.Photo by CoinWire Japan on UnsplashVolatility issuesdtcpay cited the volatility of non-stablecoin cryptos as being an issue for payments. Volatility is driving the company’s plan to concentrate solely on stablecoins. Outlining its rationale further, the company stated: “By transitioning to focus dtcpay’s #DPT services purely on #stablecoins, we are setting the stage for the future of global, digital payments. This move is designed to provide our customers with a more reliable, scalable, & secure payment experience.” A significant portion of the firm’s transaction volume is already stablecoin-based. On that basis, the move can be viewed as aligning with the preferences of its current user base to a large extent. Originally established in 2019 by Alice Liu, Band Zhao and Sam Lin as Digital Treasures Center Pte. Ltd., the company later rebranded as dtcpay. In August 2022, the firm was awarded a full Major Payment Institution (MPI) license by the Monetary Authority of Singapore. In 2023, the company collaborated with Singaporean data-sharing platform PlatON and Chinese payments firm Allinpay, to launch a payments system using point-of-sale terminals which accepted Bitcoin, Ethereum and USDT. Asian expansiondtcpay has set out its objective as aiming to unify payment methods across Asia for the benefit of merchants and consumers alike. Last year, it identified Hong Kong and Dubai as locations of particular interest relative to the company’s expansion plans. In October, it furthered its international presence with the opening of an office in Kuala Lumpur. In an effort to make further in-roads into the payments sector, dtcpay announced a strategic partnership with Visa in September. The integration allows dtcpay to gain access to Visa’s global network of 130 million merchants across 200 countries. As part of the partnership, the company is rolling out its dtcpay Visa Infinite card, enabling users to convert digital currencies to fiat at competitive rates. In 2023, the company raised $16.5 million in a pre-series A funding round led by real estate development company Pontiac Land Group, which is controlled by Singaporean billionaire Kwee Liong Tek.

Hong Kong Police Issue Warning as Binance Users Lose Funds to Phishing ScamHong Kong has witnessed a surge in phishing scams targeting Binance users, prompting local law enforcement to issue a cautionary advisory.Photo by Serey Kim on UnsplashCyberDefender warningThe warning was issued by Hong Kong police via its CyberDefender Facebook page on Monday. Over the past two weeks, at least 11 Binance customers in Hong Kong fell victim to phishing scams, collectively losing over $446,000 (equivalent to HKD 3.5 million). These scams primarily involve fraudulent text messages.According to Hong Kong police, these fraudulent text messages claim to be from Binance and ask users to verify their accounts by clicking on a link provided within the message. On Facebook, the warning stated:“Recently, fraudsters posing as Binance sent text messages claiming that users must click the link in the message to verify their identity details before a deadline, otherwise their account would be deactivated.”Upon clicking the phishing link and entering their login credentials to “verify” their accounts, victims unwittingly grant fraudsters full access to their Binance accounts. This modus operandi mirrors the tactics commonly employed in phishing scams.CZ chimes inBinance CEO Changpeng Zhao (CZ) also joined in the cautionary chorus, issuing a warning to customers on his X account.The crypto sector in Hong Kong has been facing challenges recently, largely related to the recent JPEX fraud case. The losses incurred from the JPEX exchange scandal have swelled to an estimated $180 million, with over 2,300 victims filing complaints with local authorities.The JPEX scandal led to multiple arrests in Hong Kong and prompted authorities to intensify their efforts against illegal crypto activities. The Securities and Futures Commission (SFC) of Hong Kong introduced regulations mandating the licensing of all crypto exchanges operating within its jurisdiction earlier this year.To date, only two exchanges, HashKey and OSL, have secured licenses under this regulatory framework. Numerous other crypto exchanges in Hong Kong have submitted license applications, but Dubai-headquartered JPEX, despite heavily promoting its application for a Hong Kong license, failed to submit an application to the local regulator. In the wake of the JPEX scandal, the SFC published a comprehensive list of companies seeking crypto licenses and expanded its list of suspicious platforms.Cyber security firm Kaspersky found earlier this year that phishing related to crypto trading is on the rise in Asia, particularly in the Philippines. Binance’s CZ has had to issue warnings where phishing is concerned on previous occasions. He did so in July when the founder of decentralized crypto exchange (DEX) Uniswap was hacked.In February of last year, CZ came out again to warn users of a massive SMS-related crypto phishing scam. Back in 2018 a serious attempt was made to compromise the credentials of Binance platform users via phishing techniques.As phishing scams continue to pose a significant threat to crypto users in Hong Kong, and with the aftermath of the JPEX debacle still reverberating through the industry, vigilance and caution remain paramount for participants in the region’s crypto ecosystem.