CoinDCX absorbs $15.99M USDT loss from breached legacy wallets, says user funds remain safe
Indian crypto exchange CoinDCX has clarified that a $15.99 million USDT loss stemmed from an old wallet infrastructure that was compromised in July 2025 and subsequently abandoned. Because the automatic sweep service remained inactive for a period, user deposits mistakenly sent to the retired address accumulated before being drained. CoinDCX emphasized that the loss is borne entirely by the company, all affected users' deposits have been credited normally, and active central and user wallets remain unaffected. Trading and withdrawal services continue to operate without interruption.
Tether freezes nine addresses linked to CoinDCX security incident, 2.21M USDT blacklisted
Tether has blacklisted nine addresses connected to the CoinDCX security event, freezing 2,212,850.3 USDT, according to Salus monitoring. The freeze took effect October 23 at 06:45 UTC. The investigation began after investigator Darcy flagged an anomalous transfer of approximately 15.99 million USDT. CoinDCX co-founder Sumit Gupta initially denied any security breach, but Salus raised questions based on reserve proof address transfers and TRX distribution patterns, ultimately providing Tether with verifiable on-chain evidence to act.
Goldman Sachs cuts Korea KOSPI 12-month target by 25% amid AI trade concerns
Goldman Sachs strategists led by Timothy Moe have lowered their 12-month KOSPI target from 12,000 to 9,000 points, citing intensifying worries over AI-related trades. The benchmark index has already tumbled more than 35% from its June peak, prompting the team to adopt more prudent valuation assumptions. Despite the cut, the strategists believe Korean equities are now deeply undervalued, with the index still offering over 60% upside potential even at the revised target.
Samsung Electronics and SK Hynix to report Q3 earnings next week as AI memory demand surges
Korean chipmakers Samsung Electronics and SK Hynix will release their third-quarter results next week, with SK Hynix reporting Wednesday and Samsung on Thursday. Robust demand for AI memory chips is expected to drive strong profits for both companies. The earnings come as market anxiety over AI valuations has intensified, making the reports a critical test of whether the AI infrastructure spending cycle remains intact.
Nomura says memory chip shortage will last through 2028, sector deeply undervalued
Nomura Securities believes market concerns over AI investment prospects are an overreaction. The firm argues the memory chip shortage will persist until 2028 and that the memory sector is now severely undervalued. The outlook comes as Korean chip stocks have been hammered in the recent AI-driven sell-off, with investors questioning whether hyperscaler capital expenditure can be sustained.
Jiangsu universities to pay staff salaries via digital yuan wallets from November 2026
Staff at Nantong University and Yangzhou University will receive salaries through digital yuan wallets starting November 2026, following a directive from the Jiangsu Provincial Department of Finance. Nantong University requires eligible personnel to complete wallet setup and upgrades by October 30, while Yangzhou University set an earlier deadline of October 23 and conducted payroll disbursement testing with four banks on October 24. Salaries and performance bonuses will be paid via two separate cards, both requiring digital yuan wallet activation.
RedotPay acquires Japanese crypto exchange BTCBOX to offer compliant services
Crypto payment provider RedotPay has acquired Japanese exchange BTCBOX, aiming to offer services compliant with Japan's regulatory framework. RedotPay itself does not hold a Japanese crypto asset trading license and acknowledged that its existing services for Japanese residents do not meet local requirements, prompting phased restrictions and eventual termination. The company has suspended new user registrations in Japan and removed its app from Japanese app stores. BTCBOX, founded in 2014, received its trading registration in September 2017 but suspended all services in January following a customer information leak, only partially resuming in August.
Tether's mining development kit gains support from Bitmain, Canaan and 13 other firms
Tether announced that 15 bitcoin mining companies, ASIC manufacturers and mining pools have committed to building and maintaining integrations for its open-source Mining Development Kit (MDK). Participants include Chinese hardware giants Bitmain, Canaan Creative and MicroBT, alongside F2Pool, Foundry Digital, Luxor and Bitdeer. Each participant will develop MDK Workers to convert their hardware, pool or system interfaces into a unified standard, allowing developers and AI agents to manage mining facilities across vendors.
Thai police arrest Chinese national over 100M baht cryptocurrency fraud scheme
Thai immigration police arrested a 47-year-old Chinese man who also held a Cambodian passport under the alias "Lee." He is accused of luring Chinese investors into a fraudulent cryptocurrency scheme with promises of high returns, causing losses exceeding 1 billion baht (approximately $28 million). A Bangkok court had issued an arrest warrant for fraud. The suspect had been hiding in a luxury residence in Chonburi province after fleeing from Samut Prakan. Thai immigration authorities said they will continue targeting transnational crime networks, particularly money mule accounts and money laundering operations.
China's AI governance blueprint advocates 'using AI to govern AI'
A new blue paper on internet advertising governance in the AIGC era was released during the 33rd China International Advertising Festival. The report categorizes AIGC advertising risks into four areas—content violations, technical countermeasures, transaction chain issues and new scenarios—and proposes governance recommendations across eight dimensions covering the entire ad placement process. ByteDance's Ocean Engine platform reported that 90% of materials are reviewed within 10 minutes using multimodal large models, improving efficiency by 75%. The report also notes that advertisers bear primary responsibility for content authenticity and cannot disclaim liability simply because content was AI-generated.
