Russia’s crypto mining industry is experiencing unprecedented growth, with demand for industrial equipment tripling in the last quarter of 2024 compared to the previous year. The boom follows new laws introduced by President Vladimir Putin, effective November 2024, permitting businesses and entrepreneurs to mine crypto after registering in the national miners’ registry. Individual miners using under 6,000 kWh of energy monthly are exempt from registration, ensuring flexibility for smaller operations.
Experts highlight that these regulatory changes have made mining more credible and economically viable, attracting both large-scale operators and individual investors. However, rapid growth has prompted the government to draft restrictions, including a proposed mining ban in energy-stressed regions such as Dagestan and Chechnya, starting in January 2025. These measures aim to manage electricity shortages and price disparities in subsidised areas.
Additionally, Russia introduced a 15% tax on Bitcoin mining profits in November 2024, marking the sector as a regulated economic contributor. Despite these challenges, industry leaders suggest mining remains a solid diversification strategy, recommending investors allocate up to 5% of their portfolios to this burgeoning field.
Hewlett Packard Enterprise (HPE) has secured a deal worth over $1 billion to supply AI-optimised servers to Elon Musk’s platform X. The agreement, finalised late last year, was reported by Bloomberg News, citing sources familiar with the matter. Dell Technologies and Super Micro Computer had also submitted bids but were not selected.
The AI server market has experienced significant demand as businesses seek advanced hardware for AI applications. Musk’s ventures, includingTesla and xAI, have become key customers for this technology.
HPE shares saw a 1% rise during afternoon trading following the report. The company declined to comment on the deal.
Kenya is taking decisive steps to regulate cryptocurrencies as the government shifts its stance from cautious warnings to a more structured approach. Treasury Cabinet Secretary John Mbadi has confirmed plans to introduce a legal and regulatory framework aimed at fostering a fair and stable crypto market. This move is outlined in the ‘National Policy on Virtual Assets and Virtual Asset Service Providers,’ a draft proposal open for public feedback until 24 January.
The policy proposes comprehensive regulations for virtual assets, addressing key concerns such as money laundering, terrorism financing, and consumer protection. It aims to establish clear standards and procedures to govern virtual asset service providers, setting Kenya on a path similar to other African nations like South Africa and Nigeria, which have embraced crypto regulation.
Kenya’s cautious journey with cryptocurrencies dates back to a 2015 warning by the Central Bank of Kenya (CBK), highlighting risks like fraud and lack of legal safeguards. However, a significant shift occurred in September 2023 when the country completed an assessment of money laundering risks tied to virtual assets. With stablecoins accounting for nearly half of the region’s transaction volume, Kenya’s proactive regulatory approach could solidify its role as a leader in sub-Saharan Africa’s crypto adoption landscape.
Taiwan Semiconductor Manufacturing Company (TSMC) has started producing advanced four-nanometre chips in Arizona, marking a significant achievement for US semiconductor manufacturing. Commerce Secretary Gina Raimondo described the development as a historic first for the nation, with production quality matching TSMC’s output in Taiwan.
TSMC’s Phoenix facility received a $6.6 billion government grant to support chip production, alongside up to $5 billion in low-cost loans. The investment is part of a broader initiative to strengthen domestic chip production under a $52.7 billion programme established in 2022.
The company plans further expansion in Arizona, with a second fab producing two-nanometre chips by 2028 and a third fab by 2030. Raimondo aims for the US to produce 20% of the world’s advanced logic chips by the end of the decade.
Amkor Technology was also awarded $407 million to support a $2 billion semiconductor packaging facility in Arizona. Apple will be a major client, with its chips produced nearby at TSMC’s plant.
Litecoin’s X social media account fell victim to hackers on 11 January, briefly promoting a fake Litecoin token on the Solana network. The fraudulent post included a contract address and scam link but was deleted after Litecoin regained control of the account. According to the Litecoin team, the breach occurred due to a compromised delegated account, which has since been removed.
This incident highlights a troubling trend of account hacks on X, with scammers exploiting high-profile accounts to promote fake tokens and phishing links. Victims in recent months include EigenLayer, Wiz Khalifa, the Cardano Foundation, and Yat Siu, co-founder of Animoca Brands. Each hack involved fraudulent campaigns, some generating significant trading volumes before being uncovered.
As scams on social media platforms rise, users are urged to exercise caution and verify information before engaging with any token promotions.
Triplegangers, was forced offline after a bot from OpenAI relentlessly scraped its website, treating it like a distributed denial-of-service (DDoS) attack. The AI bot sent tens of thousands of server requests, attempting to download hundreds of thousands of detailed 3D images and descriptions from the company’s extensive database of digital human models.
The sudden spike in traffic crippled Ukrainian Triplegangers’ servers and left CEO Oleksandr Tomchuk grappling with an unexpected problem. The company, which sells digital assets to video game developers and 3D artists, discovered that OpenAI’s bot operated across hundreds of IP addresses to gather its data. Despite having terms of service that forbid such scraping, the company had not configured the necessary robot.txt file to block the bot.
After days of disruption, Tomchuk implemented protective measures by updating the robot.txt file and using Cloudflare to block specific bots. However, he remains frustrated by the lack of transparency from OpenAI and the difficulty in determining exactly what data was taken. With rising costs and increased monitoring now necessary, he warns that other businesses remain vulnerable.
Tomchuk criticised AI companies for placing the responsibility on small businesses to block unwanted scraping, comparing it to a digital shakedown. “They should be asking permission, not just scraping data,” he said, urging companies to take greater precautions against AI crawlers that can compromise their sites.
Infosys has filed a counterclaim against Cognizant in a Texas federal court, accusing the US-based technology firm of anti-competitive behaviour. The Indian company alleges that Cognizant included restrictive clauses in client contracts, preventing them from working with rival firms and withholding necessary software training.
The Bengaluru-based software giant also claims Cognizant engaged in targeted poaching of its senior executives. The hiring of former Infosys president S Ravi Kumar as Cognizant’s CEO in 2023 allegedly delayed the development of Infosys’ Helix software product.
Cognizant denied the allegations, stating it supports fair competition but accused Infosys of improperly using its intellectual property. The counterclaim follows a 2023 lawsuit by Cognizant’s subsidiary TriZetto, which accused Infosys of stealing trade secrets related to healthcare insurance software.
Infosys is seeking damages, including legal fees, but did not disclose the amount. The case is being heard in the US District Court for the Northern District of Texas.
British Prime Minister Keir Starmer has announced an ambitious plan to position the UK as a global leader in AI. In a speech on Monday, Starmer outlined proposals to establish specialised zones for data centres and incentivise technology-focused education, aiming to boost economic growth and innovation. According to the government, fully adopting AI could increase productivity by 1.5% annually, adding £47 billion ($57 billion) to the economy each year over the next decade.
Central to the plan is the adoption of recommendations from the “AI Opportunities Action Plan,” authored by venture capitalist Matt Clifford. Measures include fast-tracking planning permissions for data centres and ensuring energy connections, with the first such centre to be built in Culham, Oxfordshire. Starmer emphasised the potential for AI to create jobs, attract investment, and improve lives by streamlining processes like planning consultations and reducing administrative burdens for teachers.
The UK, currently the third-largest AI market behind the US and China, faces stiff global competition in establishing itself as an AI hub. While Starmer pledged swift action to maintain competitiveness, challenges persist. The Labour government’s recent high-tax budget has dampened some business confidence, and the Bank of England reported stagnation in economic growth last quarter. However, Starmer remains optimistic, declaring, “We must move fast and take action.”
By integrating AI into its economic strategy, the UK hopes to capitalise on technological advancements, balancing innovation with regulatory oversight in an increasingly competitive global landscape.
OpenSea users are facing increased risks after over 7 million email addresses were exposed in a data breach dating back to 2022. The breach occurred when an employee of Customer.io, OpenSea’s email delivery partner, mishandled user data, sharing email addresses with an unauthorised third party. This data includes the emails of major figures in the crypto world, raising concerns about potential phishing attacks and scams.
Blockchain security expert 23pds highlighted the growing threat, warning that the leaked information had been circulated multiple times before becoming public. OpenSea had previously alerted users about phishing risks following the breach, advising them to be cautious with email links and attachments.
Phishing scams targeting OpenSea users have been a persistent issue, with attackers using fake websites and fraudulent email campaigns to exploit vulnerabilities. One such scam in January 2024 promised exclusive access to an NFT event, only to direct victims to a malicious site designed to steal funds and wallet information.
Experts continue to advise users to stay vigilant, verify email sources, enable two-factor authentication, and never share sensitive wallet details to protect themselves from ongoing phishing threats.
Education technology provider PowerSchool has suffered a major data breach, exposing the personal information of millions of students and teachers. Hackers gained access to its systems by exploiting stolen credentials, using a tool within the company’s PowerSource support portal to export sensitive data.
The stolen records include names, addresses, and potentially more sensitive details such as Social Security numbers and medical information in the US and Canada. PowerSchool, which manages academic records for over 60 million K-12 students, assured customers that not all users were affected. However, the breach has left schools scrambling to assess the damage.
PowerSchool insists the hack wasn’t due to a flaw in its software but was a result of unauthorised access using legitimate credentials. The company has engaged cybersecurity experts to investigate and taken steps to improve security, including deactivating compromised accounts and strengthening password controls.
Critics argue that PowerSchool was slow to inform customers, potentially putting students, parents, and educators at greater risk of identity theft. While PowerSchool is offering affected users credit monitoring and identity protection services, the incident has sparked calls for stricter regulations on data security in the education sector.
