Identity forgery suspect captured in StarkNet airdrop scam

Entrepreneurs to Discuss Blockchain Investment Opportunities at Korea Investment Week 2023Entrepreneurs and business leaders will convene at the Korea Exchange (KRX) PR Hall to delve into investment opportunities associated with blockchain projects and security tokens from September 14 to 15. The agenda for the first day centers around blockchain, while the second day is dedicated to security tokens. These events are part of Korea Investment Week 2023, hosted by the Korea Economic Daily and organized by the Korea Exchange, the nation’s only securities exchange operator, and KB Securities.Photo by SC Jang on UnsplashExploring blockchain investmentThe first day’s blockchain investment forum will host a lineup of distinguished speakers, including Kim Yong-beom, the CEO of Hashed Open Research; Lee Tae-yong, Chief Global Strategy Officer of Wavebridge; and Ju Ki-young, CEO of Cryptoquant.CEO Kim will explore virtual asset opportunities in South Korea, particularly in light of the market trend shifting from North America to Asia. Lee will provide an overview of the global landscape of exchange-traded funds (ETFs) and exchange-traded products (ETPs) related to virtual assets and assess the likelihood of the US approving Bitcoin spot ETFs. Meanwhile, Ju’s analysis of blockchain data will offer insights into the fundamentals and risks associated with virtual assets.Security token insightsOn the second day, the security token investment conference will feature esteemed professionals, such as Ahn Il-chan, Head of Digital Business Division at the Korea Exchange; Lee Han-jin, an attorney specializing in capital markets at law firm Kim and Chang; and Ryu Ji-hae, Managing Director of Digital Asset Task Force at Mirae Asset Securities.Ahn will discuss strategies for establishing a security token market within the Korea Exchange. Lee will offer suggestions for developing the Korean security token market and safeguarding investors. Ryu will address the role of securities firms in driving the development of the security token market.These events are expected to capture the interest of both institutional and retail investors, providing valuable insights into the burgeoning industry.

BitGo CEO Emphasizes Separation of Trading and Custody to Prevent Crypto BankruptciesMike Belshe, Founder and CEO of digital asset trust company BitGo, emphasized the importance of separating cryptocurrency trading and custody to prevent incidents similar to those involving Mt. Gox and FTX in his keynote speech at Impact, the main conference of Korea Blockchain Week (KBW) 2023.Established in 2013, BitGo is currently the world’s largest provider of virtual asset custody services, serving more than 1,500 institutions in over 50 countries, including the US, Switzerland, and Germany. Major exchanges like Bitstamp, Korbit, Bullish, Gate.io, and Crypto.com entrust BitGo with safeguarding their virtual assets.Clear divisionDuring his speech, Belshe repeatedly stressed the need for custody services for the sustainability of the virtual asset ecosystem, asserting that separating trading and custody can enhance trust in the industry and attract traditional financial institutions.Unlike stock markets, where payment institutions and custodians are separate entities, this kind of separation does not exist in the virtual asset market. To steer traditional financial institutions toward the virtual asset ecosystem, this issue needs to be addressed, Belshe said.He went on to cite the Mt. Gox hack in 2014 and the FTX collapse last year as examples that underscored the importance of virtual asset custody. Mt. Gox, once the world’s largest Bitcoin exchange, reportedly lost some 650,000 to 850,000 Bitcoins — worth more than $450 million at the time — due to a hacking incident, leading to its bankruptcy. FTX also faced insolvency after it was revealed that it inflated its assets using its native token FTT and that its management was misusing customer investment funds.Photo by Melinda Gimpel on UnsplashBelshe suggested that when Mt. Gox employees discovered the Bitcoin theft during the hack, it was already too late. If custody had been treated separately, the theft could have been detected much faster. Regarding the FTX debacle, he argued that even with just a few auditors, the problems in that situation could have been apprehended. FTX’s ability to provide custody of customer assets themselves led to unauthorized activities, including cross trading and insider trading, ultimately resulting in the misuse of customer funds.Korea’s favorable conditionsBelshe also assessed that South Korea is well-positioned for the establishment of virtual asset custody systems due to its high trading volume and a solid commitment to drafting crypto-related legislation. Seven such bills are currently underway, reflecting the authorities’ determination to address problems in the ecosystem. Korea thus has the potential to establish itself as a hub in Asia, he said.Indeed, BitGo’s partnership with Hana Bank to establish a joint venture for digital asset custody services in Korea is driven by these factors. Through its entry into Korea, BitGo aims to share its extensive knowledge and experience in digital asset business institutionalization and investor protection. It will also apply the expertise and strategies it has accumulated through close communication with regulatory authorities and supervisory agencies in various countries, including the US, to support the integration of virtual assets into the regulated framework in Korea.Belshe commented that through this partnership, BitGo will seek to enhance its understanding of Korea and utilize its technology and expertise to boost confidence in the Korean cryptocurrency market.

Bitget enhances crypto exchange app with Web3 wallet and swap serviceSeychelles-incorporated crypto derivatives and copy trading platform Bitget has advanced its DeFi capabilities by integrating a Web3 wallet and swap service into its crypto exchange application.Photo by Shubham’s Web3 on UnsplashEnhancing platform app featuresThis new feature empowers users to seamlessly swap their tokens and access DeFi services through the platform’s Web3 wallet, according to a press release the company published concerning the development earlier this week. Bitget outlined that the primary goal of the integration is to offer users diverse options for trading their crypto assets within the exchange ecosystem.Bitget Managing Director Gracy Chen set out the significance of the recently ushered in changes. Chen stated:“Integrating Web3 services into our CEX platform marks a significant milestone for Bitget. By offering users the freedom to access various DeFi services alongside the convenience and security of our CeFi platform, we are empowering them with a unique experience. Bitget aims to provide a comprehensive ecosystem that caters to the evolving needs of our users, all while maintaining the highest standards of security and reliability.”Service offering expansionFurthermore, the app is set to expand its services, gradually incorporating a non-custody wallet, an NFT marketplace and decentralized applications (dApps), Chen confirmed. Bitget users can now experience enhanced flexibility in their trading activities, as the exchange plans to make most listed currencies available in the Web3 wallet for DeFi trading. The swap feature, a core element of this integration, aggregates liquidity from 10 decentralized exchanges (DEXs), including popular platforms like Uniswap, PancakeSwap and Curve Finance. Chen confirmed further details to Cointelegraph, stating:“At the core of the recent integration is our Web3 Wallet, which facilitates the secure storage, management, and control of their digital assets. Alongside the wallet, we’ve launched a Swap service, which is an advanced DeFi aggregator.”The firm acquired the BitKeep crypto wallet earlier this year, with the product subsequently having been officially rebranded to the Bitget Wallet in August. The move has worked out well for the firm, with it confirming at the end of July that it had achieved 20 million users as a consequence. The more recent integration not only facilitates asset management services but also provides native storage solutions for users.$100 million fundThis initiative aligns with Bitget’s ongoing efforts to establish a strong foothold in the crypto space. The exchange has consistently pursued expansion, launching multimillion-dollar funds to support the growth of the Web3 ecosystem. At an event in Singapore recently, Bitget introduced a $100 million fund dedicated to supporting venture firms and investing in the next generation of Web3 projects.Earlier this week, the company committed a $10 million fund towards the objective of nurturing high-potential crypto startup projects in India.