MEVerse and XPLA forge partnership to herald new era of blockchain gaming

Kaspersky Says Crypto Phishing on the Rise in the PhilippinesThe Philippines witnessed a significant increase in detected cryptocurrency-related attacks last year while Vietnam recorded the highest level in Southeast Asia, according to cybersecurity firm Kaspersky.Photo by Markus Spiske on UnsplashEase of crypto accessVietnam topped the list with over 64,000 detections. Meanwhile, the Philippines recorded 24,737 cases of crypto-phishing attacks in 2022, up from 9,164 cases in 2021, making it the second-highest number in Southeast Asia.Adrian Hia, Managing Director for Asia Pacific at Kaspersky, attributed the rise to the ease of accessing cryptocurrency in the Philippines. He explained that as users increasingly turn to mobile devices, they are inadvertently exposing themselves to potential breaches, as malware can be installed through various touch points.Research published by Malaysian crypto data aggregator, CoinGecko, earlier this month, also points to the Philippines as having the second highest level of interest in crypto in Southeast Asia, after Singapore.Targeting popular platformsCybercriminals commonly target accounts of popular online gaming platforms and crypto wallets using advanced stealers or “stalkerware” that allow them to spy on individuals through their mobile devices, Kaspersky stated. The firm’s monitoring data revealed that malware is spreading through legitimate channels such as official marketplaces and advertisements in popular apps.Across Southeast Asia, the total number of crypto-phishing detections decreased to 147,649 in 2022 from 164,330 in 2021, according to Kaspersky. However, only Singapore (down 74%), Thailand (down 51%), and Vietnam (down 15%) observed declines in detections. Besides the Philippines, crypto-related attacks also increased in Indonesia (from 19,584 in 2021 to 24,642 in 2022) and Malaysia (from 16,071 to 16,767).Kaspersky discovered an average of 400,003 new malicious files per day in 2022, representing an increase of 20,000 files per day compared to the previous year. Hia emphasized that scammers are relentless in their efforts to steal cryptocurrency due to its increasing popularity and adoption, particularly in Southeast Asia. He urged cryptocurrency adopters in the region to stay informed about the latest tricks used by crypto phishers to protect their digital assets.Email-based attacksRoman Dedenok, a spam analysis expert at Kaspersky, revealed that crypto phishers often employ email-based attacks to target crypto users. He explained that scammers entice victims with the prospect of participating in a cryptocurrency giveaway, offering popular digital assets such as Bitcoin, Ethereum, Litecoin, Tron, or Ripple.The scammers provide a three-point guide to claim the free cryptocurrency along with a link to the “promotion” website. Clicking on the link leads users to a phishing site where they are prompted to specify the wallet to which they want the funds transferred.In response to the growing cybersecurity concerns, Kaspersky is engaging in discussions with government institutions worldwide. In the Philippines, while the central bank does not directly regulate cryptocurrency, it has established guidelines for virtual asset service providers. The Chairman of the Securities and Exchange Commission (SEC) in the Philippines, Emilio Aquino, recently delayed publication of a regulatory framework for crypto, on the basis of having “to make sure people don’t get burned.”Entities involved with virtual assets are required to obtain a license from the Bangko Sentral ng Pilipinas, the central bank of the Philippines, to comply with regulations.

Japan’s Financial Services Agency (FSA) is moving to tighten penalties and enforcement against unregistered cryptocurrency operators, Nada News reported, citing the Nikkei newspaper.Photo by Traxer on UnsplashTo bolster investor protection amid a rise in issues related to highly speculative memecoins, the FSA plans to submit legislative amendments to an upcoming extraordinary Diet session. The revisions will transfer crypto asset regulations from the Payment Services Act to the Financial Instruments and Exchange Act.  Under the new framework, criminal penalties for operating an unregistered crypto exchange or soliciting over-the-counter derivatives will increase dramatically. Offenders will face up to 10 years in prison or fines of up to 10 million yen ($63,000), or both, marking a sharp increase from the current maximum penalties of three years’ imprisonment or 3 million yen in fines. Regulatory oversight will also expand. The Securities and Exchange Surveillance Commission will gain the authority to pursue criminal investigations—allowing for on-site inspections and evidence seizures—replacing the current reliance on warning letters and civil injunctions. Additionally, the official legal designation for compliant businesses will change from “cryptoasset exchange service providers” to “cryptoasset trading service providers.” Binance to launch Japan equities USDT perpWhile Japanese regulators focus on ring-fencing domestic investors from unregulated digital assets, global crypto platforms are expanding their offerings tied to the country's traditional financial markets. Illustrating this trend, Binance announced it will launch a USDⓈ-M perpetual contract for EWJUSDT, which tracks the iShares MSCI Japan ETF, on March 19 at 13:30 UTC. The BlackRock-managed ETF provides exposure to large- and mid-cap Japanese equities. This blurring of the lines between traditional Japanese equities and crypto derivatives underscores a wider transformation within the digital asset ecosystem. Beyond trading, blockchain-based assets are increasingly serving as core financial infrastructure, a trend reflected in the growth of the stablecoin sector. Stablecoin market hits $300BAccording to an XWIN Research Japan post on CryptoQuant, on-chain data shows active addresses using ERC-20 stablecoins are surging. Backed by a roughly $300 billion market capitalization dominated by USDT and USDC, stablecoins are gaining ground as a foundational layer of the global economy. XWIN Research Japan outlined how these assets are tailored to distinct regional needs: functioning as digital dollars in high-inflation economies like Nigeria, facilitating remittances in India and the Philippines, and providing institutional liquidity in the U.S.  Supported by its own shifting regulatory landscape, Japan is also gaining traction in this stablecoin space. Yen-pegged stablecoins like JPYC are emerging as practical payment tools designed to bridge traditional Japanese finance with global blockchain networks. JPYC Inc., the issuer of the JPYC stablecoin, recently raised 1.78 billion yen ($11.9 million) in Series B funding led by Asteria and partnered with LINE NEXT to integrate its stablecoin into a wallet based on the LINE Messenger platform. 

United Arab Emirates (UAE)-based crypto market maker and Web3 investment firm DWF Labs has launched a $250 million fund for investment in mid to large-cap crypto projects. The company, which recently switched its administrative base from Singapore to Abu Dhabi, asserts that the fund will contribute towards the real-world adoption of Web3 technology. Photo by Towfiqu barbhuiya on UnsplashUp to $50M per projectTaking to X, DWF Labs Managing Partner Andrei Grachev announced the $250 million fund. He added:”Single ticket size ranged from 10 to 50M$ per a project. Cash + comprehensive support = Moon” In a statement published to the company’s website, DWF Labs outlined that the Liquid Fund initiative aligns with the firm’s commitment to contributing towards real growth within the broader crypto market. It stated: “The fund will provide strategic crypto venture capital and ecosystem support, ensuring sustainable growth for projects that drive real-world adoption and help promote change in the industry.” Initial dealsWork on the fund is already in motion. The company confirmed that it has already invested $11 million into promising blockchain projects as part of the initiative. Furthermore, DWF Labs confirmed that it is on the verge of signing two major investment deals with ticket values of $10 million and $25 million respectively. Beyond those deals, the firm asserts that other investment deals are in the pipeline. It clarified that the nature of the investment differs from traditional investments insofar as each deal incorporates a full-scale ecosystem growth strategy, devised specifically for the particular needs of each project. Grachev stated that the company believes “that strategic capital, coupled with hands-on ecosystem development, is the key to unlocking the next wave of growth for the industry.” Key aspects being considered by the company when formulating ecosystem growth strategies relative to targeted blockchain projects include public relations (PR) and brand amplification, a comprehensive go-to-market (GTM) strategy, lending markets development and a focus on stablecoin total value locked (TVL), with supporting liquidity and DeFi activity relative to layer-1 and layer-2 projects. Focus on ‘usability and discoverability’Grachev told Cointelegraph that emphasis will be placed on investing in blockchain projects that stand out in terms of “usability and discoverability.” He added that “good technology and utility alone isn’t sufficient,” asserting that "users first need to discover these projects, comprehend their value and develop trust." The DWF Labs managing partner suggested that strategic capital, together with hands-on ecosystem development, is paramount relative to efforts to realize the next iteration of growth within the crypto sector. Up until the end of last year, DWF Labs was headquartered in Singapore and still maintains a presence there. Besides Abu Dhabi, it also has a physical presence in Dubai. Hong Kong, Switzerland, South Korea and the British Virgin Islands (BVI) account for the locations of the remainder of its international offices. While Grachev and his firm can be assumed to have a positive broader view on the cryptocurrency sector given the launch of this latest fund, the DWF Labs managing partner recently pointed to a more immediate potentially bearish trend in the market.