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first_img NEAR Intents: Frozen $503,000 of stolen funds from Bitget

Cross-chain trading protocol NEAR Intents stated in a post on X that on September 24, Bitget was attacked, resulting in approximately $387.5 million in funds being stolen, most of which were aggregated into Ethereum and converted to ETH. The hacker attempted to transfer over $50 million through NEAR Intents, but ultimately only $166,000 was successfully transferred, while $503,000 was intercepted during the execution process.NEAR Intents indicated that the relevant data comes from on-chain tracking tools, Arkham, internal logs, and risk control layer SHIELD, among other sources. The figures listed are rounded estimates, with an assessment deviation of no more than 10%. SHIELD identified over $50 million in money laundering attempts and has filtered out duplicate flows, of which $166,000 has been successfully transferred, while another $503,000 was frozen midway through execution and remains restricted, pending legal and recovery procedures.NEAR Intents stated: permissionless does not equal neutral, the team refuses to assist in cashing out stolen assets and will forgo the bounty from this incident to allow Bitget to recover funds as much as possible. Bitget previously established a 5% + 5% bounty arrangement. NEAR Intents also mentioned that the protocol will remain permissionless but set boundaries, and will combat money laundering of stolen funds, while suggesting Bitget contact legal and law enforcement channels to handle the frozen funds.

first_img Central Daily News: Former CEO of Changxin Storage accused of pressuring for Samsung technology

According to a report by South Korea's "JoongAng Ilbo," a statement obtained from a former head of equipment investment at Changxin Memory Technologies (CXMT), who has a background at Samsung Electronics, reveals that the former CEO of CXMT, Wang Ningguo, summoned the Korean team, including the individual in question, from October to December 2016. He demanded they bring back Samsung Electronics' Process Recipe Plan (PRP) and equipment information, threatening to report them to the South Korean government if they failed to do so, and warned them to verify their connections and not to lie. The individual stated that they felt scared at the time. The report mentioned that CXMT's management referred to Samsung Electronics as "Huangshan."After working at Samsung Electronics for 28 years, the individual joined CXMT and was prosecuted for allegedly leaking and using Samsung's 1.6 trillion won investment in the world’s first 18-nanometer DRAM process without authorization. In April of this year, they were sentenced to seven years in prison in the first trial and are currently in the second trial. The PRP includes the sequence of about 600 steps in DRAM manufacturing, equipment, condition values, and the companies and models of the equipment. Park, a former process design engineer at Samsung, hand-copied the relevant content into a 12-page notebook in September 2016 and brought it out, and is currently under an Interpol Red Notice.During the court hearing, the individual stated that there was a claim made during communications with the Chinese side that investment would not be provided to CXMT if they could not produce the 18-nanometer process. They later learned that the other party had wanted the technology from the very beginning, and CXMT initially had no plans to develop it independently. The pressure mentioned occurred before a meeting to prepare for the investment application. CXMT was established in 2016 with an investment of 14.4 billion yuan from Hefei Industrial Investment, a subsidiary of the Hefei municipal government, and had not been profitable for about 10 years, achieving its first annual profit last year with a net profit of 7.1 billion yuan.

first_img a16z partner David George: OpenAI's advantage lies in creating new customers and distribution

David George, a general partner at a16z, stated that OpenAI understands a rare but important thing: the purpose of a business is to create customers. He believes that OpenAI will not win solely due to model, chip, cost performance, or product leadership, but because it excels at creating new types of customers and has a more sustainable distribution strategy.David George indicated that in the context where intelligent services are widely available, the key is whether new usage behaviors can be awakened and distribution won. He summarized the leverage for building cutting-edge large-scale AI businesses as creating new behaviors, reaching a large number of users, pricing to capture value, and increasing conversion costs, and he believes that the last two are difficult to form long-term advantages; competition ultimately depends on the first two.The article also mentioned that OpenAI has found seemingly simple breakthroughs in areas such as chat interfaces, reasoning, tool invocation, and Computer Use multiple times, and is building long-term distribution in a platform manner. David George stated that OpenAI has a broad user base covering consumers, professional users, and enterprises, as well as the ability to deeply understand its own technology stack, thus being better positioned to discover reusable new patterns and foundational capabilities.

first_img Chainlink released CCIP 2, allowing enterprises to customize cross-chain security verification

On Monday, the oracle network Chainlink released the cross-chain interoperability protocol CCIP 2, making significant upgrades to its communication and cross-chain bridge infrastructure. The new version allows enterprises to add their own security verification checks on top of Chainlink's default network of 16 independent node operators. Enterprises can run their own validators or hire external service providers such as Infosys and Nethermind. Chainlink stated that users should not be forced to become "cross-chain security infrastructure experts."This upgrade comes about five months after the Kelp DAO was hacked in April of this year. The attackers are reportedly linked to the North Korean Lazarus group, stealing approximately $292 million in rsETH by deceiving the single validator relied upon by the Kelp cross-chain bridge, which operates on LayerZero. LayerZero blamed Kelp for using only a single validator, while Kelp stated that LayerZero employees had reviewed its setup and raised no objections. Kelp subsequently announced that it would migrate rsETH to Chainlink.The upgrade also adjusts the security mechanism that Chainlink had previously heavily promoted; its risk management network will no longer operate as an independent review node, with such independent checks now provided by optional validators. This means that users who have not added any validators currently rely on a single validation network, whereas previously they relied on two. Existing Chainlink users have been automatically migrated to the new version, but the company has not disclosed which institutions are using the new validators, only stating that Aave and Maple have begun adopting other features of the upgrade.
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