Atomic Wallet Hacker Uses Lazarus Crypto Mixer

WEMIX Foundation launches omnichain walletThe WEMIX Foundation, a subsidiary of South Korean blockchain gaming publisher Wemade, has officially launched the una Wallet, according to an official announcement on the company’s website on Thursday (KST). una Wallet is a core application of the Unbound Networking & Accelerating Growth Initiative, or “unagi,” the company’s newest innovative omnichain network and interoperable Web3 gaming platform.Photo by Shubham’s Web3 on UnsplashEasy asset managementThe wallet service offers a solution for users to conveniently earn, manage and trade their digital assets like NFTs and tokens on multiple blockchains — such as WEMIX3.0, Ethereum and Polygon — in one borderless place. The WEMIX Foundation said it would add more supported chains in the future.Effortless access and robust securityIn particular, una Wallet’s convenience and security stem from an easy login procedure utilizing connections to social media accounts and multi-party computation (MPC) technology. MPC is a cryptographic security measure that enables multiple parties to assess a computation without revealing their private information or data. This technology splits private keys, or mnemonic phrases, and allows users to easily recover their wallets through social login even if they lose their keys.The service also provides transaction route recommendations, allowing users to move or trade assets across chains with minimal costs or signature procedures. Subsequently, they can also view their transaction history on each chain and the movement of assets between different chains.WEMIX plans to add various features to make authentication and asset-tracking processes even easier. una Wallet is currently available on Google Play and the Apple App Store.

The CEO of Hong Kong’s central banking institution, the Hong Kong Monetary Authority (HKMA), has outlined that the introduction of the Chinese autonomous territory’s Stablecoins Ordinance on Aug. 1 will criminalize the unlicensed promotion of stablecoins. In an article published on the HKMA website on July 23, CEO Eddie Yue stated:”According to the Ordinance, starting from the commencement date, it will be illegal for any person to offer any unlicensed fiat-referenced stablecoin (FRS) to a retail investor, or actively market the issue of unlicensed FRS to the public of Hong Kong.”Photo by Manson Yim on UnsplashSubject to fine & imprisonmentIf an individual is found to have promoted an unlicensed stablecoin, they will be subject to a fine of HK$50,000 ($6,400) and imprisonment of up to six months. Yue warned the public to remain vigilant and to exercise caution if they come across marketing material related to an unlicensed stablecoin offering. The HKMA CEO is conscious of the fact that stablecoins are an emerging payment instrument that is being gradually integrated into the mainstream financial system. However, he feels that some discussion on stablecoins has been overly idealistic. Yue outlined that interactions with the few dozen institutions that have reached out to the HKMA with regard to stablecoin licensing have led him to believe that “many proposals remain conceptual.” He claimed that many of the institutions putting forward these proposals “fail to put together viable and concrete plans as well as implementation roadmaps, let alone demonstrate their awareness of risks and competence in managing them.” Limited license issuanceYue believes that in many instances, these institutions would be better served to collaborate with stablecoin issuers rather than becoming stablecoin issuers themselves. It’s on that basis that the HKMA will only grant a handful of stablecoin issuer licenses. Bloomberg reported that in the region of 50 companies have been seeking to apply for stablecoin licensing in the city, with the HKMA likely to approve around 10 licenses. It referenced particular interest from Chinese brokerages and a related move recently by asset management firm ChinaAMC in launching a yuan-denominated tokenized money market fund that facilitates subscriptions via stablecoins.  Significant Chinese businesses such as JD.com and Ant Group have been preparing to acquire stablecoin licensing in Hong Kong. Chinese stablecoin urgencyIn its Asia Morning Briefing, CoinDesk pointed out that in 2021, the Chinese authorities had been critical of the development of global stablecoins, preferring instead to concentrate on their own central bank digital currency (CBDC), the digital yuan. However, it asserts that “Beijing’s caution on stablecoins is giving way to a sense of urgency.” Animoca Group President Evan Ayuang told the publication that China’s interest in stablecoins is on the rise. Ayuang asserted that actions taken by the Trump administration in the U.S. related to stablecoin policy are “pressuring China to act a lot faster.” Developments in Hong Kong are relevant in the context of China’s newfound interest in stablecoins. Lily King, chief operating officer (COO) at crypto custodian Cobo, stated recently that Hong Kong continues to be a testing ground for mainland China.  In keeping with that outlook, analysts at Morgan Stanley recently asserted that yuan-denominated stablecoin projects launched in Hong Kong would potentially serve as a developmental stablecoin sandbox for mainland China.

Academia, Industry Collaborate on Crypto Accounting Research in KoreaThe Korean Accounting Association (KAA) and Samil PwC, the South Korean member firm of global accounting company PwC, have joined forces to conduct collaborative research on accounting for cryptocurrency assets, according to a report by local news outlet Maeil Business Newspaper.Photo by Pixabay on PexelsCollaborative effortsUnder this newly formed partnership, the KAA’s crypto asset committee will work closely with Samil PwC to explore a wide range of crypto assets, facilitate the development of financial statements pertaining to these assets for businesses, and implement accounting policies that align with the characteristics of cryptocurrencies.Leading the crypto asset committee is Roh Hee-chun from Soongsil University, while Partner Lee Jae-hyeok from Samil PwC will participate in the study. Until 2028, this collaboration is poised to yield insights and findings on crypto asset accounting.First seminarThe committee is set to hold its first seminar on June 27, serving as a platform for knowledge exchange and fostering deeper understanding among industry professionals. Furthermore, the accountants involved anticipate publishing a paper in an academic journal next year.PwC’s Assurance Leader Oh Kee-won emphasized the accounting firm’s commitment to leveraging its extensive resources in order to produce outcomes that positively impact society.Meanwhile, KAA President-elect Kim Gap-soon highlighted the relative novelty of crypto asset accounting, acknowledging that there is much ground to be covered. The association aims to establish a solid foundation that offers optimal guidance in the field of crypto asset accounting.