South Korea Studies Allowing Crypto Exchanges into the STO Market
South Korea's Financial Services Commission (FSC) will examine permitting cryptocurrency exchanges to participate in the securities token offering (STO) market, according to EDaily. Chairman Lee Eok-won endorsed the proposal, emphasizing the need to integrate existing exchange technology and trading infrastructure into the tokenized securities market. The study will cover market environment, investor protection, licensing system consolidation, and concurrent business permits, signaling a potentially significant opening of Korea's regulated digital asset landscape.
Initia Chain Exploited for Around $2.6 Million, Upbit and Bithumb Halt INIT Deposits
Initia suspended its Layer 1 network and rollups after a security incident in which an attacker exploited a vulnerability to mint tokens without authorization. Security researcher Spreek estimated the hacker had already cashed out roughly $2.6 million, with more funds still moving. Korean exchanges Upbit and Bithumb responded by suspending INIT deposits and withdrawals and issuing investment warnings to users. Initia said it is working with security teams, validators, and exchanges to assess the scope of the breach.
Tencent's WorkBuddy Integrates Moonshot AI's Kimi-K3.1-Pro Model
Tencent's enterprise assistant WorkBuddy announced it has integrated the Kimi-K3.1-Pro model from Chinese AI startup Moonshot AI. WorkBuddy is also onboarding the high-speed Kimi K3.1 Pro Highspeed variant, which delivers the same intelligence with output speeds roughly 2 to 3 times faster. Access is currently prioritized for enterprise flagship edition and personal subscription users due to resource constraints. Moonshot AI separately disclosed plans to open-source the K3.1 Pro model weights before November 4.
SlowMist Flags 1,500+ DarkSword Phishing Sites Targeting Crypto Users
SlowMist's chief information security officer 23pds warned that more than 1,500 DarkSword phishing sites have been deployed across the web, spanning e-commerce, fake Binance and OKX platforms, counterfeit wallets, gaming, and crypto exchange services. In a related alert, SlowMist's Yu Xian cautioned users to update iPhone and iPad systems promptly, noting that some installed apps have been compromised with the DarkSword trojan. The malware targets crypto users on iOS, exploiting vulnerabilities to break out of the sandbox and steal Keychain passwords, wallet private key files, and notes.
Kraken Parent Payward Wins Preliminary License in Kazakhstan
Kraken parent company Payward has received preliminary regulatory approval to operate in Kazakhstan, according to Crowdfund Insider. The Astana Financial Services Authority (AFSA) granted in-principle approval for a license to Payward Kazakhstan within the Astana International Financial Centre. The license would allow the firm to offer regulated services including crypto trading, investment products, and digital asset custody to local participants.
Futu Securities Adds BNB Deposit and Withdrawal Services for Hong Kong Professional Investors
Hong Kong brokerage Futu Securities has enabled BNB deposits and withdrawals for eligible professional investors (PIs), extending its virtual asset service offerings. Qualified PIs can now transfer BNB between self-custody wallets and their Futu crypto accounts via the BNB Smart Chain (BEP20) network, or withdraw to verified whitelist addresses. The move deepens Futu's push to integrate on-chain assets with its regulated securities trading ecosystem in Hong Kong.
Chinese Citizen Extradited to US Over Multi-Million Dollar Crypto Scam
A Chinese national has been extradited from the Netherlands to the United States to face charges of participating in an international cryptocurrency investment fraud scheme, according to the US Department of Justice. The alleged conspiracy operated out of scam compounds in Cambodia and victimized at least 174 identified US citizens, with losses in the millions of dollars. The defendant made an initial court appearance and was ordered detained, with a formal arraignment scheduled for November 30 in federal court in Los Angeles.
Singapore, Malaysia, and Thailand Central Banks Join Forces on Cross-Border Digital Currency
Singapore's Monetary Authority (MAS) announced that Malaysia's Bank Negara (BNM) and the Bank of Thailand (BOT) have joined the BLOOM initiative as policymaker members. The trio will work with industry participants in their respective jurisdictions to build a common framework for cross-border digital currency use, covering acceptance, exchange, and settlement of different forms of digital money across institutions, networks, and jurisdictions. The public-private partnership targets tokenized deposits, regulated stablecoins, and cross-payment network settlement.
Israel's Netanyahu Explores Blockchain Solution Against Potential Financial Sanctions
Israeli Prime Minister Benjamin Netanyahu is pursuing a blockchain-based program to prepare Israel for possible future financial sanctions, according to Israeli media outlet i24. Specific details and implementation plans have not yet been disclosed. The move signals growing interest among sovereign governments in using decentralized infrastructure as a hedge against exclusion from traditional financial networks.
Moonshot AI Releases Kimi K3.1 Pro with 1M Token Context Window
Chinese AI firm Moonshot AI launched the Kimi K3.1 Pro and its high-speed variant, both supporting a 1 million token context window. Official benchmarks show K3.1 Pro scoring 65.70% on Terminal-Bench 4.0, ahead of GPT-6 Astra's 58.20% but slightly below Claude Opus 5.5's 66.40%. In internal hallucination tests, the model reduced per-statement hallucination rates from 23.40% to 8.30%. The models are live on Kimi.ai, Kimi Work, Kimi Code, and API, with full weights slated for open-sourcing by November 4.
