Thai police arrest two Chinese men in $87 million crypto fraud scheme
Thai immigration police arrested two Chinese nationals, aged 52 and 28, in Bangkok on November 12 in connection with a cryptocurrency fraud scheme exceeding 32 billion Thai baht (approximately $87 million). The suspects were wanted under an arrest warrant issued by the public security bureau in Changde, Hunan Province. Thai authorities have revoked their residence permits under immigration law and initiated deportation proceedings to transfer them to China for trial.
Kava Lend attacker drains $3.76M in KAVA, Upbit suspends deposits
An attacker exploited a near-idle BUSD market on Kava Lend to borrow approximately 55.2 million KAVA tokens, worth about $3.76 million before the attack. The exploiter manipulated supply to inflate collateral value roughly 243,000 times within three minutes, then executed 127 loans and used a second account to liquidate each loan, bypassing borrowing caps. Around 49.2 million KAVA were bridged to BNB Chain and largely sold for about $2.09 million in BNB and USDT. South Korean exchange Upbit suspended KAVA deposits and withdrawals and issued a trading warning, while Kava paused the Axelar bridge as a precaution.
South Korea's Coinone suffers customer data breach via outsourced support server
Coinone confirmed that its customer service outsourcing partner's server was illegally accessed in the early hours of November 12, exposing personal information of users who had contacted customer support. Leaked data may include phone numbers, names, email addresses, birth dates, bank account numbers, passwords, resident registration numbers, wallet addresses, and transaction IDs. The exchange emphasized that member accounts, trading systems, and wallet infrastructure remain separate from the compromised server.
India's Unocoin admits three hot wallets hacked, $200,000 lost
Indian cryptocurrency exchange Unocoin revealed that three of its more than 20 operational hot wallets were compromised, resulting in estimated crypto losses of approximately $200,000. The exchange stated it will fully cover user losses.
Bitcoin slides to $63,000 as weekend liquidity squeeze triggers $854M liquidations
Bitcoin dropped below $63,000, falling over 4% intraday, as a weekend liquidity crunch amplified selling pressure across Asian markets. Total liquidations over 24 hours reached $854 million, with long positions accounting for $788 million. Analysts noted the sell-off resembled a chain-reaction stampede driven by concentrated selling in low-liquidity conditions rather than organized dumping by long-term holders.
Japan-linked market maker B2C2 nearly exits LINK position amid altcoin sell-off
B2C2 Group, a crypto market maker 90% owned by Japan's SBI Holdings, has nearly liquidated its LINK holdings after steadily selling over the past month, leaving only about 1,445 LINK tokens worth roughly $13,000. During the market downturn, B2C2 also transferred BNB, MORPHO, PEPE, and ONDO to OKX, Binance, and Coinbase, suggesting further altcoin selling.
Hong Kong retiree loses HK$18 million in virtual currency investment scam
A 70-year-old Hong Kong man lost approximately HK$18 million (about $2.3 million) after being lured through a YouTube investment ad into a WhatsApp group and directed to transfer USDT and ETH to fraudulent platforms between August and October. The victim briefly withdrew about HK$800,000 in USDT before subsequent withdrawals were blocked. Law enforcement received over 40 investment fraud reports in the past week, with total losses approaching HK$50 million.
Thailand launches WORPT payment app letting tourists spend crypto without a local bank account
Thailand introduced WORPT, a new payment application enabling foreign tourists to convert cryptocurrency into Thai baht and spend at local shops and restaurants by scanning widely used barcode systems, without opening a Thai bank account. The app was developed by Wipay and Waan Exchange — the latter founded by Chaval Jiaravanon of the Chearavanont family — and operates under the Thai SEC's TouristDigiPay regulatory pilot program.
Kazakhstan plans tokenized government bond issuance for Q1 2027
Kazakhstan's central bank governor Timur Suleimenov announced plans to issue tokenized government bonds in the first quarter of 2027, working with the Ministry of Finance. The move follows Kazakhstan's first sale of tokenized central bank notes earlier this month, which raised 10 billion tenge through the Kazakhstan Stock Exchange using Solana blockchain infrastructure with BitGo custody services.
Chinese crypto influencer Jiang Zhuoer clears DeFi altcoin positions, pauses trading
Jiang Zhuoer, founder of the LTB mining pool, disclosed he liquidated all his DeFi altcoin holdings during an early morning rebound, citing concerns that the market may be entering a "bear market tail" phase rather than an early bull run. He acknowledged a significant error in his medium-term analysis and said he would pause trading temporarily to reassess.
