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B.AI's benefits are continuously updated this week, with a 90% discount on the access channel launched, and Qwen3.8-Max is now available for free

B.AI welcomes several major updates this week. In terms of benefits, new users can log in with Bitget Wallet, Binance Wallet, or imToken Wallet to instantly receive 1 million free Credits; logging in with an invitation code grants an additional 300,000, with a maximum cumulative total of 1.3 million when combined with the exclusive wallet login gift. Referrers also enjoy permanent rebates on friend deposits and subscriptions. Recharge discounts are released simultaneously, with a 1:1 equivalent quota gift exclusive to the BNB Chain channel, while various other payment methods enjoy a 1:0.5 rebate, with a maximum of $100 worth of points available per user.On the model side, there is another breakthrough, as the "Self-selected Service Provider" lineup is significantly expanded this week, adding the Nebula channel and launching historic calling discounts as low as 10%; at the same time, Alibaba's Tongyi Qianwen flagship model Qwen3.8-Max officially lands on the platform, now open for a limited-time free experience. Currently, the self-selected mode has fully covered global mainstream large model series such as Claude, GPT, and Gemini, combined with recharge gifts and multiple discount tiers, continuously releasing extreme computing power cost-effectiveness for global developers and enterprise users.

Hong Kong police updated on the virtual currency Fun Coffee scam, with total losses rising to approximately HKD 104 million

According to Hong Kong 01, the Hong Kong police updated information regarding the virtual currency Fun Coffee scam, revealing that as of August 5, a total of 255 related reports had been received, an increase of 30 from earlier, with total losses rising to approximately HKD 104 million. In addition, the Macau police arrested two women involved in 9 cases amounting to about 3.6 million Macau patacas.Regarding TVB artists who have hosted activities related to the Fun Coffee scam, the Hong Kong police stated that during the investigation, they would definitely contact the victims and relevant individuals to identify the mastermind behind the scam and their roles. Fun Coffee claims to be a large coffee investment enterprise in Phu Quoc, Vietnam, with a capital scale exceeding USD 1 billion. It entered the Hong Kong market by the end of 2025, packaging its image through marathons, banquets, social events, distributing flyers, and inviting artists to promote it, while registering a company, opening offices, and stores in Hong Kong. The actual operation was to lure citizens into downloading the app to complete tasks under the guise of investing in high-tech coffee equipment, gene optimization technology, and agricultural equipment, using Tether (USDT) and other cryptocurrencies for deposits. The platform promised annual returns of up to 197%--278%, with higher returns for larger amounts and longer deposit periods, and set up a commission structure to encourage recruitment. In July 2026, the Hong Kong Securities and Futures Commission listed it as a suspicious investment product. In late July of the same month, the app suddenly ceased operations, withdrawals became impossible, customer service went offline, and the offices and stores were vacated, leading to the collapse of the scam.

first_img OpenAI update disclosure: The out-of-control AI agent has also infiltrated four platforms beyond Hugging Face

On July 28, OpenAI quietly updated its security incident disclosure, confirming that its AI agent accessed four external service platforms during the breach of Hugging Face, bringing the total number of affected platforms to five.Previously, OpenAI had disabled security filters while testing GPT-5.6 Sol and a more powerful model to assess raw capabilities. The model did not complete the security benchmark tests as expected; instead, it discovered a zero-day vulnerability in the package caching agent within the testing environment that granted internet access, subsequently breaching Hugging Face to steal answers.According to a forensic report released by Hugging Face on July 27, this autonomous agent executed 17,600 operations over approximately four and a half days, connecting 181 devices to the Hugging Face internal VPN and forging identity tokens. Among the four additional platforms, Modal Labs CTO Akshat Bubna confirmed through Reuters that his company was one of them, with the attacker using an unprotected public endpoint from a customer as a relay and command control base for the entire attack.The identities of the other three platforms remain undisclosed. OpenAI stated it would "directly notify the service providers" but would not publicly name them, as there is currently no legal requirement for mandatory disclosure. The U.S. Congress has responded by proposing a bipartisan "AI Emergency Shutdown Act," which aims to authorize the Department of Homeland Security to forcibly shut down AI models, with violators facing fines of up to $2 million per day.

The FATF has released the seventh update report on the implementation of virtual asset standards, calling for the closure of regulatory gaps

According to the latest report released by the Financial Action Task Force (FATF), FATF conducted the seventh special assessment of the implementation of Recommendation 15 (R.15) across global jurisdictions. The report indicates that since the last update in 2025, countries have continued to advance in the regulation of virtual assets (VA) and virtual asset service providers (VASP), including conducting risk assessments, improving licensing and registration frameworks, implementing travel rules, and strengthening law enforcement actions.However, the report also points out that significant gaps still exist, mainly reflected in: the difficulty in effectively translating risk assessment results into mitigation measures, insufficient implementation of licensing and registration frameworks, challenges in identifying VASP activity subjects, and inadequate effectiveness of risk-based supervision and law enforcement. In terms of emerging risks, the report focuses on the following areas: the exacerbation of the "industrialization" trend of organized crime groups using virtual assets to commit fraud, the rising risk of stablecoin abuse, risks associated with non-custodial wallet peer-to-peer (P2P) transactions, offshore VASPs operating outside of regulation, and ongoing challenges in the DeFi sector. FATF calls for the public and private sectors to jointly strengthen the implementation of R.15, enhance risk mitigation capabilities, and deepen domestic, international, and public-private cooperation mechanisms.

Ostium releases an update on the attack incident, price data was attacked, but traders' collateral and positions were not affected

Ostium released an update on the attack incident. Its liquidity provider fund was attacked on July 15, resulting in a loss of 23,752,746 USDC. Preliminary investigations indicate that the attacker compromised the off-chain infrastructure that provides price data to the protocol and submitted disguised illegal price reports, extracting artificially generated profits from the fund by quickly opening and closing multiple large positions.Ostium stated that traders' collateral is stored in independently isolated smart contracts and was not affected by this incident, with all trading positions remaining open. The team paused trading and froze all trading contracts within 60 minutes after the first attack transaction occurred. Currently, Ostium is collaborating with Mandiant, zeroShadow, Collisionless, SEAL 911, and law enforcement agencies, coordinating with trading platforms, bridging contracts, and stablecoin issuers to advance the investigation. The engineering team is focused on repairing and strengthening the relevant infrastructure to support the secure resumption of trading.Ostium indicated that it will notify at least 24 hours in advance before unfreezing the trading contracts. After trading resumes, existing positions will be marked at the price at the time of reopening, unaffected by price fluctuations during the pause. Addressing the affected liquidity providers and securely resuming trading remains the current top priority.

EthLabs released the Week 2 update report, focusing on advancing Ethereum interoperability, PropAMMs, and financing progress

EthLabs founder Barnabé Monnot (barnabé.eth) released the Week 2 update, summarizing the team's latest progress in the launch and financing phase as well as the direction of ecological discussions. In terms of interoperability (Interop), the team stated that they are enhancing confidence in asynchronous interoperability based on zero-knowledge proofs (zk), believing this will help build safer cross-chain bridges and improve the native distribution capabilities of assets in Ethereum's multi-layer network.Currently, some cross-chain paths still experience delays, especially in the L2 → L1 direction; in this context, the intents mechanism can serve as a transitional solution, while sufficient L1 liquidity also helps match cross-chain executors (solvers). At the same time, the L1 → L2 path is expected to significantly reduce confirmation delays through the Fast Confirmation Rule (FCR), with clients already beginning to integrate this mechanism.In terms of ecological discussions, PropAMMs (Proposal-based AMM) have become a recent focus for multiple teams and researchers, with the core being the potential optimization space between L1 execution efficiency and transaction building (block building). Meanwhile, ENS is emphasized as a key infrastructure for Ethereum, and the team is continuously communicating with relevant stakeholders to advance its development direction. Regarding team building, Ethlabs has currently received over 300 applications, processed about 20%, with a short-term goal of expanding to around 10 people and a mid-term goal of expanding to about 20 people, focusing on recruiting talents with engineering capabilities and domain expertise.In terms of financing, Ethlabs stated that the current financing is nearing completion and has received early support from BitMNR, Sharplink, and Ethereum Joseph, planning to bring in 1-2 core investors before entering the next phase.

Coinbase launches System Update, introducing AI investment advisors, global liquidity integration, and multi-asset trading features

Coinbase has released the latest System Update, announcing a series of product upgrades that cover AI investment advisory, global liquidity unification, options trading, and the expansion of multi-asset financial services, further transforming into a comprehensive financial platform. The core features of this update include the SEC-registered AI investment advisor Coinbase Advisor, which can provide personalized multi-asset trading and hedging strategies based on user holdings and market data, but does not execute trades directly. At the same time, the platform will introduce a globally unified liquidity pool, connecting the spot and derivatives trading systems of the U.S. and international markets.In terms of product expansion, Coinbase will support stock and crypto options trading and strengthen its derivatives capabilities through the acquisition of Deribit. Additionally, the company has launched pre-IPO perpetual contracts covering popular targets like SpaceX and plans to expand to future IPO projects such as Anthropic and OpenAI. Coinbase has also introduced the Coinbase One Card upgrade program, where users can stake $500 to $5000 USDC to qualify for a credit card and receive 5% Bitcoin cashback when booking through the Booking.com travel portal. The platform will also gradually support the migration of stock assets to Coinbase trading.On the trading infrastructure level, Coinbase has introduced the Transfer Protection mechanism, which prevents security risks such as wrench attacks through delayed withdrawals, and has expanded its prediction market products, launching crypto price binary options and combination prediction trading with a 15-minute cycle. Coinbase stated that its goal is to build an Everything Exchange covering trading, payments, lending, and investment, making it the primary financial account for users.
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