Multiple crypto corporate treasury announcements across Asia

Global blockchain security ranking platform CertiK announced that its Skyfall research team has been inducted into the Samsung Mobile Security Rewards Program’s 2023 Hall of Fame, according to an article by South Korean news outlet Greenpost Korea on Thursday (KST).Photo by Franck on UnsplashTeamwork excellenceThis Hall of Fame recognizes outstanding security researchers who have made significant contributions each year to the security of Samsung products. CertiK Skyfall’s spot in the ranking highlights the importance of collaborative efforts in solving complex cybersecurity challenges, the company said. Securing the futureThe team was responsible for actively identifying a total of seven vulnerabilities in the Samsung Blockchain Keystore – a software development kit (SDK) developed by Samsung to manage private keys – four of which were critical and three of which were high risk. The vulnerabilities left the SDK susceptible to local attacks, including arbitrary code execution and unauthorized access to sensitive data. In response, Samsung was able to quickly deploy security patches that added appropriate boundary checks and protection mechanisms. Skyfall has formerly been acknowledged twice in Apple's release notes for discovering multiple vulnerabilities in new iOS and iPadOS software releases, the most recent being iOS 17 Security Update. Last June, the team was also awarded the Sui network’s highest bug bounty for discovering and fixing a critical vulnerability. "We are extremely proud of the outstanding performance of the CertiK Skyfall team," said Kang Li, Chief Security Officer at CertiK. "It is a testament to the team's professionalism, integrity and deep impact at the forefront of cybersecurity." CertiK is comprised of a team of seasoned experts from reputable universities including Yale and Columbia University and globally renowned companies like Google and Microsoft. The firm also operates from several offices around the world, including Seoul.

Mt. Gox Extends Repayment Deadline to 2024In a development that has captured the attention of the cryptocurrency community, failed Japanese crypto exchange Mt. Gox has officially announced a one-year extension of its repayment deadline.The decision, authorized by the Tokyo District Court, represents a one-year delay from the previously stipulated date of October 31, 2023.Photo by Andre Benz on UnsplashInfamous collapseAt its height, Mt. Gox was the world’s largest cryptocurrency exchange, facilitating over 70% of all cryptocurrency trades. However, its fall from grace began in 2014 when it fell victim to a colossal hack, resulting in the loss of 850,000 Bitcoins. The collapse left approximately 24,000 creditors in its wake, each of them agonizing over a multi-year period for the return of their digital assets.In a letter dated September 21, Rehabilitation Trustee Nobuaki Kobayashi announced the extension of the repayment deadline. This extension applies to the base repayment, early lump-sum repayment, and intermediate repayment, all of which have been rescheduled to October 31, 2024.The rationale behind this delay is twofold. Firstly, to provide creditors with additional time to furnish essential information required for the repayment process. Secondly, it will allow the trustee to coordinate with associated banks, fund transfer service providers, and cryptocurrency exchanges to facilitate the repayments.Potential payout for diligent creditorsA glimmer of hope exists for creditors who have diligently provided the necessary information. Repayments may commence sequentially as early as the close of this year. That said, it should be noted that the specific timing of repayments for each creditor remains uncertain.Kobayashi emphasized that the schedule is subject to change depending on circumstances, and further adjustments are possible. The Mt. Gox Debtor has encouraged creditors who have as yet not provided required information to facilitate payments to do so.Naturally enough, long suffering creditors are frustrated by this latest update. Taking to X (formerly Twitter), one user named “Mt.Gox’ed” wrote: “People will not get their Mt.Gox money back.” . . . “I’ve been tweeting for a long time that infinite delays are coming.”The move evoked a similar response from distressed debt specialist Thomas Braziel, who wrote: “Another delay from the MtGox trustee’s office — COME ON!”Mt. Gox’s journey towards rehabilitation has been arduous and protracted since its declaration of insolvency in 2014. Legal battles, extensive delays, and the need for meticulous coordination have all contributed to this postponement. Nonetheless, creditors are holding onto the hope that, with this extension, the path to recovering their lost assets will become smoother.Crypto market impactThis latest news has drawn considerable attention within the broader crypto sector as it may have implications for the market as a whole. The repayment delay holds the potential to impact Bitcoin prices, given the sheer volume of tokens that will be released when repayments begin. The Mt. Gox estate holds 142,000 BTC, 143,000 BCH, and 69 billion JPY.As per UBS analysts, while this influx of funds could influence the market, it is unlikely to destabilize Bitcoin. Notably, the recovery of approximately 20% of the stolen tokens after the hack reflects a positive step in the ongoing rehabilitation process.

Gate Ventures, the investment arm of Gate.io, a global cryptocurrency exchange with its origins in China, has gotten together with Thailand’s Boon Ventures and Movement Labs, to launch a $20 million fund aimed at supporting projects that utilize the Move programming language, as well as interoperability with the Ethereum ecosystem.  Accelerating Move-based blockchain adoptionMovement Labs is a developer of modular Move-based blockchains. A press release published on PR Newswire on Oct. 13 outlined that the firms intend to direct the fund towards a number of key areas. Firstly, its objective will be to accelerate the adoption of Move-based blockchain solutions. Secondly, the fund will be directed towards supporting projects which enhance security and performance in decentralized networks. A further objective is the extension of support to projects which bridge Move and Ethereum virtual machine (EVM) ecosystems. The final key objective has been set out to drive innovation in Web3 infrastructure and applications. Gate Ventures Managing Partner Kevin Yang claimed that the $20 million fund “marks a significant milestone in [the company’s] mission to drive forward-thinking solutions in the Web3 ecosystem.” Yang added that in collaborating with Movement Labs and other forward-thinking entities within the Web3 sector, the company is “paving the way for the future of decentralized technology.”Photo by Nino Steffen on UnsplashMentorship & hackathonsWeb3 startups supported by the fund will be given access to a mentorship program, while hackathon events will also be organized. Furthermore, there will be an opportunity for selected startups to participate in a research grant program relative to blockchain interoperability. Gate Ventures garnered attention within the industry recently, with the announcement in August that it had entered into a partnership with Abu Dhabi’s Blockchain Center. That collaboration has led to the establishment of Falcon Gate Ventures, a $100 million Web3 innovation fund.Last month, the company participated in the Series A funding round of Kroma, an Ethereum layer-2 network project. While interoperability is singled out as a key objective of this fund, Movement Labs has been working towards that goal recently. Last week, the firm appointed an omnichain interoperability protocol project, LayerZero, as an interoperability provider. It’s envisaged that the partnership will enable developers using the Move programming language to create decentralized applications that can run across various blockchain networks, including EVM. While Facebook parent company Meta developed the Move programming language, Movement Labs has worked towards developing its use further. Earlier in the year, Movement partnered with Aptos Labs, a firm that was founded by ex-Meta employees that has built out a network based on Move, in another effort to bring about blockchain interoperability relative to EVM and non-EVM networks. A spokesperson for Movement Labs told Cointelegraph that “the ultimate goal is to create an integrated blockchain environment where developers can build across platforms without sacrificing security or performance.” Back in April, Movement raised $38 million in a Series A financing round which was led by Polychain Capital. At the time, Movement Labs Co-Founder Rushi Manche said that he and his co-founders “started building Movement to increase the velocity of innovation in crypto where the next Facebook can be built on-chain by developers who do not have the resources for large development teams and expensive auditors.”