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India Blocks Websites of Offshore Crypto Exchanges After Non-Compliance Warning 🇮🇳 India blocked access to websites of several offshore crypto exchanges, including Binance, Kucoin, OKX , Gate io and many others on January 12 . This action followed the removal of these platforms from the Apple App Store in the country just a few days earlier. 🔥 The move is a consequence of the finance ministry issuing show-cause notices to these platforms on December 28, citing non-compliance with the country’s money laundering laws. 🔥 The notice was directed at Binance, Kucoin, Houbi, Kraken, Gate io, Bittrex, Bitstamp, MEXC Global, and Bitfinex, accusing them of operating illegally in India by failing to register and adhere to local tax regulations. ❔ In response to the alleged violations, the finance ministry instructed the information technology ministry to block the URLs of these platforms, leading to the recent website restrictions. However, the websites of these exchanges can still be accessed through VPNs.

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Now that most of you are on vacation already we suggest to spend your time with amusement and thought-provoking reading. Perhaps many of you have already heard of the hackers who reveal the deepest secrets of giant business corporations. And they have also showed that at the governmental level the main matter is also business and money (no surprise, though). Those hacktivists have made some noise about South African Defense department, making clear their not so flattering schemes with weapon supply. They have also revealed what France has made with their top secret weapon research leaks and highly classified documents. And now it is a USA turn to step out from the shadow and show everyone what they make with their folks to make money on them. Security Notification Attachment team welcomes you in their new channel with governmental secrets from the dark side of the net. Stay tuned.

Wintermute Reports 400% Surge in OTC Crypto Trading Volumes for 2023 💎 Wintermute has reported a staggering 400% increase in over-the-counter (OTC) trading volumes for the year 2023 in the midst of a challenging year for crypto exchanges.In the latest report of its OTC performance, the crypto market maker and liquidity provider Wintermute revealed that its OTC trading volume has surged by four times despite the market downturn. 🟢 “From the early resurgence, through a volatile mid-year, ending with a renewed optimism largely fueled by expectations for spot ETF approval,” the report wrote so concluding 2023. “Last year, while the markets took a moment to breathe, we focused on building out our OTC business, increasing our capabilities, and adding new product offerings.” 🟢 In the first half (H1) of 2023, Wintermute’s OTC volumes initially decreased and remained at a lower level, while the second half (H2) has seen a tremendous boost leading to the total amount quadrupled. 💲 “We saw a significant increase in trading activity with the number of trades growing over 6x, making up over 29 million trades,” wrote the report. “We also saw the largest OTC volume week of >$2 billion during this time.”

South Korea’s Tax Authority, DAXA Form Committee to Prevent Illegal Transactions: Report 🇰🇷 South Korea’s tax Authority, the Korea Customs Service group and five major cryptocurrency exchanges including Bithumb Korea, Coinone, Korbit, and Streami have formed a group to prevent illegal foreign transactions, according to a report by News1 KR. 🔴 The Digital Asset Exchange Association (DAXA), is comprised of the five most prominent cryptocurrency exchanges in South Korea including Upbit, Bithumb, Coinone, Korbit, and Gopax. DAXA plays an advisory role concerning the new committee. ⚫️ DAXA is the industry’s most important self-regulating body in South Korea. The DAXA members are the only exchanges in the country with the operating permits required to offer fiat-won trading. 🎁 Korea Customs Service was formed in 1970 and is run under the Ministry of Economy and Finance and is headquartered in Seo District, Daejeon in South Korea.

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VanEck Commits to Donating 5% of BTC ETF Profits to Bitcoin Developers at Brink 🪙 Asset manager VanEck, a potential provider of a Bitcoin exchange-traded fund (ETF), has revealed plans to donate a portion of the profits from the investment vehicle to Bitcoin core developers upon approval. 🟡 In a post on X (formerly Twitter) on January 5, VanEck announced a 5% pledge to Bitcoin core developers through the nonprofit organization Brink ahead of potential approval for its spot Bitcoin exchange-traded product application. The asset management firm also disclosed that it had already made a $10,000 donation to the developers, irrespective of the SEC’s decision on the investment vehicle. 🟡 The firm expressed appreciation for the developers’ dedication to decentralization and innovation, describing them as the cornerstone of the Bitcoin ecosystem. 💵 VanEck applied for a spot Bitcoin ETF in the United States, with a decision from the U.S. Securities and Exchange Commission (SEC) expected in the coming days. The potential approval of spot Bitcoin ETFs is anticipated to bring a substantial influx of investment from traditional finance (TradFi) into the cryptocurrency space, reaching unprecedented levels.

dYdX Reveals Post-Mortem Findings: Identifies Attacker and Considers Legal Measures 🎄 Decentralized exchange dYdX has released a post-mortem report detailing the “targeted attack” it experienced on its v3 platform in November. The attack resulted in a $9 million loss from its insurance fund, which represented approximately 40% of its total holdings. 🟢 In the report, dYdX stated that investigative efforts have successfully uncovered the identity of the attacker and that the company is currently engaged in communication with them. Furthermore, the platform is exploring potential legal actions against the perpetrator. 🟢 “dYdX is assisting law enforcement in their investigation of this matter and is assessing all legal options. dYdX is committed to taking any legal action it deems appropriate in these circumstances.” 🌲 According to the findings, the attacker executed a substantial number of 5x leveraged long positions in YFI, the native token of DeFi protocol Yearn Finance, across more than 100 wallets. By purchasing spot YFI tokens using different addresses, the attacker caused the price to surge by 215%, as revealed by dYdX.

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China Raises Alarm Over Corrupt Officials Exploiting Cold Storage Cryptocurrency for Illicit Cross-Border Transactions 🇨🇳 Official Chinese media sources have raised concerns regarding the exploitation of cryptocurrencies by corrupt officials for illicit activities. The use of cold storage methods for cryptocurrencies, in particular, has become a cause for alarm as it allows these individuals to discreetly transfer assets out of the country. 🔴 Cold storage refers to the practice of keeping cryptocurrency addresses and private keys offline, typically on hard drives or network disks, to reduce the risk of online theft and hacking. The development highlights the broader challenge faced by governments worldwide in regulating and monitoring the use of digital currencies. 🔴 Cryptocurrencies, known for their decentralized and anonymous nature, can be susceptible to abuse for unlawful activities such as money laundering and illegal fund transfers. 📲 The use of cold storage by corrupt officials is particularly troubling as it enables the covert movement of significant sums without the usual oversight associated with traditional financial transactions. This method of transferring cryptocurrencies out of the country for transactions and redemption makes it difficult for authorities to trace and recover these assets.

Crypto Miners’ Bitcoin Reserves Hit Lowest Level Since May Amidst Increased Selling Pressure 🪙 Bitcoin miner reserves have reached their lowest point since May, signaling increased selling pressure as the largest cryptocurrency records a December gain of more than 13%. 🟡 Data from CryptoQuant indicates that Bitcoin miners’ reserves have been steadily decreasing since the beginning of December. In the past 24 hours alone, miners reportedly sold around 3,000 bitcoins, bringing their total holdings to approximately 1,834,447 BTC. 🟡 On December 28, the net flow of Bitcoin stood at minus 1,524 BTC, indicating that withdrawals exceeded the new coins minted. This ongoing trend raises questions about potential selling activities by miners and their impact on the overall market dynamics. 🔶 The decline in miner reserves started in late October and has accelerated this month, reaching 1.832 million BTC from October’s high of 1.845 million. In the last 24 hours alone, miners reportedly sold approximately $129 million worth of BTC at the current trading price of $42,891.

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Hong Kong to Become the Next Crypto ETF Hub as BTC ETF Anticipation Continues in US 🇭🇰 Hong Kong is poised to become a leading hub for cryptocurrency exchange-traded funds (ETFs), particularly spot Bitcoin (BTC) ETFs, as anticipation grows for the approval of such ETFs in the United States. 🔴 Industry leaders believe that Hong Kong’s Securities and Futures Commission (SFC), which has shown a positive stance towards digital assets, sets a favorable stage for the introduction of spot Bitcoin ETFs. 🔴 Yat Siu, chairman of web3 investor Animoca Brands, said the SFC is open to widening access to digital assets, claiming that a spot Bitcoin ETF would be relatively uncontroversial. 💀 Siu also noted that Hong Kong could take reference from the extensive public filings and applications related to ETFs in the United States, which has made significant progress in this area.

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US-Approved Spot Bitcoin ETFs Could Surpass Entire $50 Billion Crypto ETP Market: BitMEX 📲 The global market for cryptocurrency exchange-traded products (ETPs) has reached a significant milestone, currently comprising approximately 150 products with a total value of $50.3 billion in assets under management, as reported by BitMEX research. ⚡️ According to the research, the potential approval of spot Bitcoin exchange-traded funds (ETFs) in the United States may significantly impact the crypto ETF market. This substantial market includes both spot and futures funds, primarily tracking the performance of leading cryptocurrencies such as Bitcoin and Ethereum. ⚡️ The dominance of Bitcoin within the crypto ETP space is evident, with the total value of Bitcoin ETFs alone standing at an impressive $35.4 billion. Notable products contributing to this figure include the Grayscale Bitcoin Trust (GBTC), with assets totaling $27,077.4 million, and the Proshares Bitcoin Strat ETF (BITO), with $1,645.3 million in assets. 😯 Beyond Bitcoin, the report provides insights into the diverse landscape of cryptocurrency ETPs. Ethereum, for instance, contributes significantly with a subtotal of $8,824.5 million, prominently featuring the Grayscale Ethereum Trust (ETHE) with $6,861.8 million in assets.

Crypto Expert Chosen by Erdogan for Turkey’s Central Bank Board 🇹🇷 Turkey President Recep Tayyip Erdoğan has appointed professor Fatma Ozkul, an expert in crypto assets and blockchain technology, to the central bank’s rate-setting committee. According to a recent report from Bloomberg, the nomination of Ozkul was announced in a decree on December 22. 🔴 Since 2012, Ozkul has been a lecturer at Istanbul’s Marmara University, with a focus on accounting, finance, and auditing. Her expertise extends to blockchain technology and digital assets, and she even authored a book on crypto asset accounting in 2022, as stated in her university profile. 🔴 Ozkul is now the latest addition to Turkey’s central bank Monetary Policy Committee, whose primary responsibility is to set the benchmark interest rate to control inflation. On December 21, the committee raised the country’s interest rate by 2.5 percentage points to 42.5% as a response to Turkey’s inflation rate surpassing 61.98% in November. 💀 After winning Turkey’s general election in May, Erdoğan reportedly formed a new economic team, appointing former Goldman Sachs banker Hafize Gaye Erkan as the governor of the central bank. In 2022, the central bank successfully conducted the initial test of its own digital currency, the Digital Turkish Lira.

El Salvador Passes Law to Offer Citizenship to Foreign Bitcoin Investors 👏 El Salvador‘s Congress has passed a new law enabling foreign citizens to obtain citizenship by investing in Bitcoin, according to Reuters. 🟡 On Dec. 21, the Salvadoran unicameral legislature, dominated by President Nayib Bukele‘s New Ideas party, voted in favor of the new citizenship law. Conducted during a late-night session, the vote garnered significant support, paving the way for the swift enactment of the policy. 🟡 The newly approved law grants expedited citizenship to foreign investors who make Bitcoin “donations” towards El Salvador’s social and economic development programs. This approach is part of a broader strategy to attract foreign investment and bolster the nation’s economy. The law notably omits a minimum donation requirement, making it accessible to a wide range of investors. 💲 Furthermore, the law simplifies the naturalization process for non-Spanish-speaking investors, waiving the typical five-year residency requirement. Instead, individuals who invest in Bitcoin can gain citizenship more rapidly, a move that aligns with El Salvador’s pioneering adoption of Bitcoin as legal tender in 2021.

China’s Ministry of Industry Aims to Foster NFT and Dapp Growth Despite Crypto Ban 🇨🇳 China’s Ministry of Industry and Information Technology has published a document outlining its current and future work on developing Web3 and related technologies, including metaverse, non-fungible tokens (NFTs), and decentralized apps (dapps). 🔴 The document is a response to a proposal by Wu Jiezhuang, a member of the National Committee of the Chinese People’s Political Consultative Conference. The Ministry examined Wu’s ‘Proposal on Promoting the Development of Web3 Industry,’ along with the Chinese Academy of Sciences and the China Association for Science and Technology. 🔴 They concluded that Wu’s suggestions align with the Ministry’s direction, as the latter “attaches great importance” to the Web3 industry development. In particular, the Ministry acknowledged China’s advantages in developing Web3, including proper industrial foundation and broad development space. 🎁 Firstly, the Ministry and the Cyberspace Administration of China have issued a series of policies, including the Guiding Opinions on Accelerating the Application of Blockchain Technology and Industrial Development.

Binance Crackdown Unleashes Unprecedented Scrutiny on Crypto Transactions 🌍 The recent crackdown on Binance by the US Department of Justice (DOJ) has triggered a seismic shift in how the crypto industry operates, with Binance now set to undergo what experts call an “unprecedented” level of scrutiny. 🍾 The government scrutiny, which Binance has agreed to in its settlement deal with the US government, will transform the exchange from “a haven for anarchic crypto commerce” to a meticulously monitored entity, Wired wrote in a report from earlier this month. 🔵 The settlement, considered one of the most substantial money-laundering settlements in the history of the US Justice Department, imposed a record-breaking $4.3 billion fine on the company.