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China Accuses U.S. of Stealing 127k Bitcoin Amid Rising Government Crypto Adoption

The post China Accuses U. S. of Stealing 127k Bitcocom. China’s National Computer Virus Emergency Response Center (CVERC) has accused the U. S. government of being responsible for the hack on the LuBian mining pool. This comes as nation-states move to adopt crypto, with the U. S. and China currently holding the most BTC among government entities. China’s CVERC Claims U. S. Government Stole 127, 272 BitcoS. government carried out the hack on the LuBian mining pool, stealing 127, 272 BTC from the BTC miner. These funds reportedly belong to Chen Zhi, Chairman of Cambodia’s Prince Group. Notably, the U. S. Department of Justice (DOJ) filed a forfeiture order last month to claim ownership of 127, 271 Bitcoin it seized from Zhi as part of the proceeds of a ‘pig butchering’ scam. The DOJ had also confirmed at the time that the funds were in its custody. This had sparked speculation that the U. S. government was responsible for the hack on LuBian, as the funds in question were the same ones hackers stole from the BTC miner in 2020. Now, China’s CVERC has claimed that these funds were accessed through a state-level hacking organization, pointing to the U. S., which is in control of the coins. The hacked funds were dormant until 2024, when they were transferred to an account that the on-chain analytics platform Arkham Intelligence has tagged as belonging to the U. S. government. Battle For Crypto Dominance Among Nation-States The CVERC’s accusation against the U. S. government comes as more nation-states adopt crypto. The U. S. and China currently hold the most Bitcoin among countries. BitcoinTreasuries data shows that 326, 588 BTC, including the coins that it seized from Zhi through LuBian. Meanwhile, China holds 190, 000 BTC. U. S. President Donald Trump has made it clear that he wants the U. S. to lead the way in crypto over China.

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Standard Chartered and DCS Launch DeCard, Singapore’s First Stablecoin Credit Card

The post Standard Chartered and DCS Launch DeCard, Singapore’s First Stablecocom. Key Takeaways: Standard Chartered and DCS Card Centre have introduced DeCard, a credit card on the stablecoin platform that is released in Singapore. The card allows spending in merchants of the USDC and USTC using the banking system offered by Standard Chartered. The project will intersect traditional finance (TradFi) with Web3, and global markets will become the next step. As one of the biggest moves towards mainstream crypto adoption, Standard Chartered collaborated with DCS Card Centre (previously Diners Club Singapore) to introduce DeCard, a stablecoins-powered credit card. The product allows users to make payments on goods and services with digital assets such as USDC or USDT equivalent to a normal card transaction. Making Stablecoins Spendable Money with DeCard The design of DeCard is intended to ensure that the stablecoins can be applicable in everyday transactions even without the need of complex remittances. The system removes the issue of price volatility and provides close-to-real-time payments in a fully transparent manner. DCS executives state that the partnership is a combination of trust of traditional banking and effectiveness of blockchain that will establish a safe and compliant bridge between the two worlds. DeCard provides users with the comfort of spending crypto like a credit-card and the merchant with a local currency without the need to deal with digital assets, which is achieved by having stablecoins embedded into a normal credit-card format. Read More: New Zealand Bans Crypto ATMs Nationwide to Strengthen AML Enforcement Is Singapore Leading the Rollout? Singapore has a well-developed fintech ecosystem and a clear regulatory framework, which has made it the place.

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