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On Thursday, March 5, the Hang Seng Index opened 334.17 points higher, or 1.32%, at 25,583.65; the Hang Seng Tech Index opened 77.55 points higher, or 1.61%, at 4,907.05; the H-share Index opened 93.47 points higher, or 1.1%, at 8,577.42; and the Red Chip Index opened 20.83 points higher, or 0.48%, at 4,339.05.March 5th - The Fourth Session of the 14th National Peoples Congress opened on the morning of March 5th at the Great Hall of the People. Xi Jinping and other Party and state leaders attended the opening ceremony, and Premier Li Qiang delivered the government work report to the Congress. The government work report stated: Cultivate and strengthen emerging and future industries. Establish a mechanism for increasing investment and sharing risks in future industries, and cultivate and develop future industries such as future energy, quantum technology, embody intelligence, brain-computer interfaces, and 6G.According to the Financial Times, Anthropics CEO is meeting with a deputy to US Defense Secretary Hergsay in an attempt to reach a compromise on the military applications of Anthropic technology.Government Work Report: Support localities with suitable conditions to promote spring and autumn breaks for primary and secondary schools, and implement a paid staggered vacation system for employees.Government Work Report: A special fund of 100 billion yuan will be established to promote domestic demand through fiscal and financial synergy, and a combination of loan interest subsidies, financing guarantees, and risk compensation will be used to support the expansion of domestic demand.

NFTs worth $100 million stolen in past year, Elliptic says

Jimmy Khan

Aug 25, 2022 14:34

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According to blockchain research company Elliptic, over $100 million worth of non-fungible tokens were stolen in the year leading up to July, opening a new front in the hacking crisis facing cryptocurrency.


NFTs are assets built on the blockchain that represent digital data including text, video, and picture files.


Cryptocurrency-rich speculators invested billions on the assets in 2021, expecting to benefit as prices increased. However, NFT pricing and sales volumes have fallen since the collapse in cryptocurrency prices in May and June of this year.


Despite the market's collapse, scams are still commonplace, with the biggest amount of NFTs reported stolen ever in July, according to a research by London-based Elliptic.


According to the report, social media security breaches would be responsible for 23% of NFT thefts in 2022.


According to Elliptic, thieves made an average of $300,000 each fraud. Given that not all offenses are made public, the actual number of NFT thefts is probably far greater, it was added.


The crypto business has long been plagued by hacks and frauds, and authorities all around the globe are becoming more worried about how crypto assets are being used in cybercrime.


Elliptic estimated that just $8 million was being laundered using NFT-based platforms. However, Elliptic said that services like so-called cryptocurrency mixers, which are intended to conceal the source of the money, provided roughly $329 million of the funds in the NFT market.


Before it was banned by the United States this month, Elliptic said that one such mixer, Tornado Cash, was used to launder just over half of the money gained via NFT schemes.


Using the $540 million heist in April that U.S. authorities have connected to North Korea's Lazarus Group as an example, Elliptic said that "there is a rising danger to NFT-based services from sanctioned groups and state-sponsored vulnerabilities."

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