Europol has warned that a reported $50,000 reward for information on two members of the Qilin ransomware group is fake. The message, circulating on Telegram, claimed the suspects, known as Haise and XORacle, coordinate affiliates and manage extortion operations.
Europol clarified that it does not operate a Telegram channel and that the message does not originate from its official accounts, which are active on Instagram, LinkedIn, X, Bluesky, YouTube, and Facebook.
Qilin, also known as Agenda, has been active since 2022 and, in 2025, listed over 400 victims on its leak website, including media and pharmaceutical companies.
Recent attacks, such as the one targeting Inotiv, demonstrate the group’s ongoing threat. Analysts note that cybercriminals often circulate false claims to undermine competitors, mislead affiliates, or sow distrust within rival gangs.
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US tech stocks have stumbled after a sharp rally, with investors increasingly cautious over AI-linked valuations and shifting market conditions. The S&P 500 tech sector has dropped around 2.5% this week, while the Nasdaq has slipped 2%, led by losses in Nvidia and Palantir.
The fall follows a 50% surge in tech shares since April, far outpacing the broader market and pushing valuations to year-highs. Concerns are growing that investor enthusiasm around AI has become overheated, with some funds reducing their exposure ahead of expected interest rate guidance.
US market watchers are now focused on Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, which could signal if rate cuts are on the horizon. Tech stocks, already heavily weighted in many portfolios, are particularly vulnerable to higher rates due to their stretched price-to-earnings ratios.
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China is preparing to take a major step in the digital currency race by considering yuan-backed stablecoins, marking a sharp reversal from its earlier tough stance on cryptocurrencies. According to sources, Beijing’s cabinet will soon review a national strategy, with Hong Kong and Shanghai expected to spearhead the rollout thanks to Hong Kong’s recently passed Stablecoins Bill.
The move comes as Japan accelerates its own efforts. JPYC Inc., a Japanese fintech firm, has received regulatory approval to issue a yen-backed stablecoin, also called JPYC. The company plans to sell up to 1 trillion yen ($68 billion) worth of the tokens within three years, each pegged 1:1 to the yen and backed by liquid assets such as government bonds.
These parallel developments in East Asia could challenge the dominance of dollar-backed stablecoins, which currently make up nearly the entire global market. Analysts say the introduction of major Asian currencies into the mix could reshape digital finance and add momentum to regulatory frameworks emerging worldwide.
Stablecoins are increasingly seen as a bridge between traditional finance and digital assets, offering stability that other cryptocurrencies lack. Despite regulatory hurdles and slow adoption, the market is expected to surge to $4 trillion by 2030, signalling how pivotal the latest steps from China and Japan could be for the global financial system.
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A new study in Robot Learning has introduced a robotic system that combines machine learning with decision-making to analyse water samples. The approach enables robots to detect, classify, and distinguish drinking water on Earth and potentially other planets.
Researchers used a hybrid method that merged the TOPSIS decision-making technique with a Random Forest Classifier trained on the Water Quality and Potability Dataset from Kaggle. By applying data balancing techniques, classification accuracy rose from 69% to 73%.
The robotic prototype includes thrusters, motors, solar power, sensors, and a robotic arm for sample collection. Water samples are tested in real time, with the onboard model classifying them as drinkable.
The system has the potential for rapid crisis response, sustainable water management, and planetary exploration, although challenges remain regarding sensor accuracy, data noise, and scalability. Researchers emphasise that further testing is necessary before real-world deployment.
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Citi has expanded its digital client platform, CitiDirect Commercial Banking, with new AI capabilities to improve customer service and security.
The platform now supports over half of Citi’s global commercial banking client base and handles around 2.3 million sessions.
AI features assist in fraud detection, automate customer queries, and provide real-time onboarding updates and guidance.
KYC renewals have been simplified through automated alerts and pre-filled forms, cutting effort and processing time for clients.
Live in markets including the UK, US, India, and others, the platform has received positive feedback from over 10,000 users. Citi says the enhancements are part of a broader effort to make mid-sized corporate banking faster, more innovative, and more efficient.
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Japan has pledged $5.5 billion in loans and announced an ambitious AI training programme to deepen economic ties with Africa.
At TICAD 9, Prime Minister Shigeru Ishiba proposed creating an Indian Ocean–Africa economic zone to link African nations with Asia and the Middle East.
Japan will also support training 30,000 AI experts over three years to drive digital transformation and job growth across the continent.
The initiative comes amid growing calls from leaders like António Guterres and João Lourenço to overhaul global finance systems and empower African representation.
Japan’s move signals renewed interest in African engagement, as the US scales back and China’s influence expands across the region.
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Brazil’s Chamber of Deputies Economic Development Commission will hold its first hearing on 20 August to examine a proposal to establish a Bitcoin Strategic Reserve. The legislation aims to diversify Treasury assets and protect reserves from currency and geopolitical risks.
Deputy Luiz Philippe de Orleans e Bragança requested the hearing to gather expert input from government agencies and financial institutions. Lawmaker Eros Biondini highlighted global examples such as El Salvador, the US, China, Dubai, and the EU to support the initiative.
The bill assigns custody responsibilities to Brazil’s Central Bank and Finance Ministry and requires biannual reports on RESBit performance and risk assessments.
Brazil leads Latin America in crypto adoption, ranking 10th globally, with nearly $76 billion in crypto traded last year. The proposal positions the country among nations exploring digital asset reserves as hedges against traditional currency.
Following the hearing, the proposal will undergo review by four Chamber committees before full consideration and Senate approval. Expert and monetary authority input will guide committee reviews and amendments, supporting a strong legislative framework for Brazil’s proposed Bitcoin reserve.
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Coinbase positions stablecoins at the heart of AI-powered apps, bots, and machines. Over a sweltering August weekend in Brooklyn, around 100 developers from across the globe built tools enabling software to send and receive payments using these digital dollars.
Projects included instant-pay publishing platforms, chatbots charging small fees, and group marketplaces operating independently of traditional banks.
The company is promoting x402, an open-source protocol named after the ‘402 Payment Required’ internet error, designed to let apps and software settle payments instantly using stablecoins.
Developers were encouraged to integrate x402 into their projects, offering real-time microtransactions without relying on PayPal, Visa, or banks. Coinbase hopes the protocol becomes the go-to toolkit for app builders, similar to how Amazon Web Services underpins the internet.
Competition intensifies as Stripe, PayPal, Visa, and Mastercard explore stablecoin infrastructure. Recent US legislation regulating stablecoins provides legal clarity, encouraging developers to innovate confidently.
Despite traditional payment systems and slow-changing consumer habits, Coinbase’s hackathon showcased growing ambitions to develop AI financial infrastructure. Stablecoins are being positioned not just as digital assets, but as functional tools for the next generation of software payments.
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Federal Reserve Vice Chair for Supervision Michelle Bowman has warned that banks must embrace blockchain technology or risk fading into irrelevance. At the Wyoming Blockchain Symposium on 19 August, she urged banks and regulators to drop caution and embrace innovation.
Bowman highlighted tokenisation as one of the most immediate applications, enabling assets to be transferred digitally without intermediaries or physical movement.
She explained that tokenised systems could cut operational delays, reduce risks, and expand access across large and smaller banks. Regulatory alignment, she added, could accelerate tokenisation from pilots to mainstream adoption.
Fraud prevention was also a key point of her remarks. Bowman said financial institutions face growing threats from scams and identity theft, but argued blockchain could help reduce fraud.
She called for regulators to ensure frameworks support adoption rather than hinder it, framing the technology as a chance for collaboration between the industry and the Fed.
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OpenAI’s rollout of GPT-5 has faced criticism from users attached to older models, who say the new version lacks the character of its predecessors.
GPT-5 was designed as an all-in-one model, featuring a lightweight version for rapid responses and a reasoning version for complex tasks. A routing system determines which option to use, although users can manually select from several alternatives.
Modes include Auto, Fast, Thinking, Thinking mini, and Pro, with the last available to Pro subscribers for $200 monthly. Standard paid users can still access GPT-4o, GPT-4.1, 4o-mini, and even 3o through additional settings.
Chief executive Sam Altman has said the long-term goal is to give users more control over ChatGPT’s personality, making customisation a solution to concerns about style. He promised ample notice before permanently retiring older models.
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