Crypto exchange Gemini mistakenly issued a price alert on Wednesday claiming Bitcoin had surpassed $110,000. The exchange later apologised, explaining that the notification was caused by a technical error. In reality, Bitcoin had reached an all-time high of $93,000, fuelled by optimism surrounding Donald Trump’s election victory.
Gemini faced backlash from users confused by the false alert, with some speculating that it may have been triggered prematurely by an employee or a misconfigured system. The exchange reassured users that such mistakes are rare and promised to prevent similar incidents in future.
Errors like these are not uncommon in the crypto industry. Exchanges, including Binance and Coinbase, have previously reported incorrect price displays due to glitches or faulty data. While these mistakes are usually resolved quickly, they can still cause significant disruption for traders relying on real-time information.
Kuwait KEMS-Zajil Telecom and Emirates MBCOM Technologies have partnered to strengthen digital infrastructure and cybersecurity across the Middle East, aiming to help businesses remain secure and agile in a connected, fast-evolving world. This partnership formalised through a Memorandum of Understanding (MoU) on 16 October 2024, focuses on providing enterprise solutions in critical areas like network optimisation, cloud services, and cybersecurity.
By merging their expertise, the companies intend to deliver advanced solutions that optimise network performance and bolster defences against cyber threats, essential capabilities for supporting business growth and resilience. Moreover, both companies see this partnership as a strategic move to drive digital transformation in the region, effectively meeting the rising demand for secure, efficient, and scalable digital services.
Furthermore, KEMS-Zajil Telecom emphasised that collaborating with MBCOM Technologies allows them to expand their digital services portfolio with cutting-edge solutions that enhance growth and security. Similarly, MBCOM Technologies highlighted how this partnership positions both companies to bring innovative technology to regional businesses. Ultimately, with its dual focus on advanced infrastructure and robust security, this collaboration reflects a shared vision to empower Middle Eastern enterprises through comprehensive digital solutions that drive long-term growth and resilience.
The Philippines Department of Transportation and UltraPass ID have partnered to pilot a biometric passenger processing system at selected airports following a memorandum of understanding (MOU) signing. The pilot test is scheduled to begin in early 2025 at Iloilo International Airport, with additional testing planned for Tacloban, Laoag, and Bicol International Airport later in the year.
The system, which embeds biometric data in passports, is designed to streamline airport operations by swiftly enabling passengers to pass through check-in, security, and boarding gates, enhancing both convenience and security. The implementation will occur in two phases – Phase 1 will involve Filipino passengers using the national ID, while Phase 2 will cater to foreign passengers with e-passports travelling domestically. Additionally, the system will integrate with the Philippine national ID system, which aims to reduce processing times and provide a touchless, more efficient airport experience.
Furthermore, this initiative is part of the US Smart Cities Trade Mission, which features 12 US companies from various sectors such as cybersecurity, AI, and tourism. These companies are already contributing to the growth of key Philippine industries, including the digital economy, semiconductors, and tourism.
Through this partnership, the Philippines aims to improve its airport operations and strengthen trade and investment opportunities. In doing so, the involvement of US companies sets high standards for labour practices, environmental responsibility, and corporate social engagement.
South Korean authorities have arrested 215 individuals in connection with the country’s largest cryptocurrency investment scam, which reportedly defrauded investors of 320B won ($228.4M). Among those detained is the alleged leader of the operation, who is accused of selling 28 worthless virtual tokens to approximately 15,000 victims with promises of high returns.
According to police, the group issued six of the tokens on overseas crypto exchanges and manipulated their values through market-making teams. To attract investors, they established consulting companies, recruited sales teams, and targeted viewers of a YouTube channel. Officials revealed that many of the tokens were fraudulent and lacked real value.
This case highlights growing concerns over cryptocurrency-related scams in South Korea and globally, as unregulated digital assets continue to attract both investors and opportunistic criminals. The arrests mark a significant step in addressing financial crimes in the fast-evolving crypto landscape.
Hackers with alleged links to China have stolen sensitive data from US telecommunications firms, targeting information intended for law enforcement agencies. US officials announced the breach on Wednesday, revealing that multiple telecom networks had been compromised. The hackers reportedly accessed call records and communications of individuals in government and political roles, according to a joint statement from the FBI and the Cybersecurity and Infrastructure Security Agency (CISA).
Among the data stolen was information connected to court-ordered surveillance requests made by US law enforcement. The agencies provided limited details about the breach and have yet to disclose the number of companies affected. CISA and the FBI declined to comment further, with additional insights expected as investigations continue.
The incident aligns with earlier reports in the Wall Street Journal, which suggested that Chinese hackers may have infiltrated systems intended for law enforcement to monitor communications. Such claims have led to growing concerns about the security of US telecom infrastructure, particularly given reports of targeted attacks on the phones of high-profile political figures.
The Department of Homeland Security’s Cyber Safety Review Board will investigate the breach, part of an effort to evaluate significant digital security threats. China’s embassy in Washington declined to comment on the latest hacking allegations, which it has previously dismissed as unfounded.
NatWest Group has prohibited the use of messaging apps like WhatsApp, Facebook Messenger, and Skype on company devices in the UK. The decision aims to prevent employees from using unapproved platforms to discuss business matters, enhancing oversight and compliance. These platforms, known for disappearing messages, raise concerns over accountability and record-keeping.
The bank’s updated policy comes as regulatory scrutiny over ‘off-channel’ communications intensifies. UK and US regulators have fined banks billions in recent years for failing to retain such communications. NatWest emphasised that all work-related discussions should occur on approved, retrievable channels to ensure transparency.
The Financial Conduct Authority is reportedly considering a broader investigation into the use of private messaging in UK banks. Beyond banking, similar issues have arisen in government, including the loss of key WhatsApp messages during the UK Covid-19 pandemic, raising questions about accountability in public affairs.
VVDN Technologies has partnered with SecureThings.ai to enhance cybersecurity across various industry sectors, primarily focusing on the connected vehicle ecosystem. Through this collaboration, SecureThings.ai’s advanced cybersecurity solutions will be integrated into VVDN’s automotive products and services, including vehicle connectivity, in-vehicle infotainment systems, instrument clusters, advanced driver assistance systems (ADAS), and software-defined vehicle (SDV) solutions.
As a result, this partnership ensures that VVDN meets global cybersecurity standards, such as ISO 21434, while providing robust security for connected vehicles and IoT ecosystems. Specifically, key initiatives include intrusion detection and protection systems, real-time threat intelligence services, the establishment of a security research lab, and the provision of a red team as a service for independent cybersecurity assessments.
These efforts will help VVDN fortify connected devices, comply with evolving regulations like R 155/156 and AIS 189/190 in India, and offer comprehensive protection against cyber threats. Moreover, this partnership strengthens both companies’ positions in the cybersecurity market, with VVDN emphasising its commitment to delivering secure, reliable solutions globally.
Furthermore, SecureThings.ai’s expertise in cutting-edge security research and technologies will empower OEMs and tier-1 suppliers to combat emerging threats and adhere to stringent regulatory standards. The collaboration also leverages VVDN’s product engineering capabilities, thus driving innovation and setting new standards for cybersecurity in the automotive and IoT industries.
A Chinese dual citizen, Daren Li, has pleaded guilty to laundering $73 million stolen through cryptocurrency scams. The schemes, active from August 2021 to April 2024, included fraudulent practices such as “pig butchering.” Li admitted using shell companies and US-based bank accounts to disguise and transfer the stolen funds.
Prosecutors revealed that millions were converted into Tether (USDT) and distributed to wallets controlled by Li and his co-conspirators. One of the wallets linked to the scheme reportedly held over $341 million in digital assets. Li’s arrest occurred in April 2024 at Atlanta airport, while his alleged accomplice, Yicheng Zhang, was arrested in May.
Li now faces a maximum sentence of 20 years in prison, a $500,000 fine, and three years of supervised release. Prosecutors also indicated he may need to pay restitution of up to $73 million to the victims. His sentencing hearing is scheduled for March 2025.
The incoming European Commissioner for Tech Sovereignty, Security, and Democracy, Henna Virkkunen, expressed dissatisfaction with the limited action taken by EU member states to exclude high-risk telecom suppliers, such as China’s Huawei and ZTE, from critical infrastructure. During her confirmation hearing in the European Parliament, Virkkunen noted that although the European Commission adopted 5G security measures in 2020, fewer than half of the EU member states have implemented restrictions on these suppliers. She indicated that this issue will be addressed in the planned revision of the Cyber Security Act next year and stressed the need for more serious action from national governments.
Virkkunen also pointed out that while the EU had adopted the 5G Cybersecurity Toolbox to protect telecom networks, only 11 of the 27 member states have fully implemented measures, including bans and restrictions on high-risk vendors. In addition to her efforts to strengthen cybersecurity, Virkkunen plans to propose a Digital Networks Act in 2025 to overhaul telecom regulations and boost investment and connectivity. On the topic of US Big Tech compliance with EU rules, she reaffirmed the importance of cooperation but emphasised that all companies must adhere to EU regulations, including those set out in the Digital Services Act.
Huawei Technologies has called on a US judge to dismiss most of the federal charges accusing the company of conspiring to steal technology secrets from American firms and misleading banks about its business dealings in Iran. In a court filing in Brooklyn, Huawei described the accusations as part of the Department of Justice’s ‘ill-founded’ China Initiative, aimed at prosecuting Chinese entities. The company argued there is no substantial evidence of a conspiracy and that several charges relate to actions outside the United States.
The telecommunications giant contended that the bank fraud allegations rely on a ‘right to control’ theory of fraud, which the US Supreme Court invalidated in a separate case last year. Huawei, which operates globally from its base in Shenzhen with around 207,000 employees, has pleaded not guilty. A trial is set for January 2026. A spokesperson for the US Attorney’s office declined to comment, and Huawei’s legal team did not respond to requests for remarks.
The case dates back to 2018 and led to the high-profile detention in Canada of Huawei’s Chief Financial Officer Meng Wanzhou. Although charges against her were dropped in 2022, the controversy remains a significant chapter in US-China tensions. The China Initiative, under which Huawei was prosecuted, was initiated during Donald Trump’s presidency to curb alleged intellectual property theft by Beijing but was terminated by the Biden administration in 2022 following criticism of racial profiling and the negative impact on research.
