Top Five Stories Are Driving Crypto Discourse Right Now

Seventh Largest in History! DMM Bitcoin Hacked, 4,502 Bitcoins Stolen; Japan's Financial Services Agency Demands Thorough Investigation and Compensation Plan

Cryptocurrency exchange DMM Bitcoin reported on the 31st of last month that 4,502.9 BTC were illegally transferred from its official wallet, resulting in a loss valued at 48.2 billion yen (USD 311 million). In response to this incident, the seventh largest cryptocurrency theft in history, Japan's Financial Services Agency has demanded that DMM Bitcoin provide a report on the cause of the theft and its customer compensation policy.

Mining Company Core Scientific and AI Firm Sign 12-Year Contract! Estimated Revenue Exceeds $3.5 Billion

Bitcoin mining company Core Scientific announced today that it has signed a 12-year partnership agreement with cloud computing provider CoreWeave. The estimated total revenue from this agreement is expected to exceed $3.5 billion. This highlights the trend of Bitcoin mining companies actively seeking diversified revenue streams following the Bitcoin halving.

LayerZero Witch Hunt Concludes: How to Appeal if Wrongly Reported? Estimated Total Number of Witch Addresses to Exceed One Million

LayerZero's self-reporting program for witch addresses officially concluded at the end of May. Today, the protocol's CEO, Bryan Pellegrino, stated that the list of witch addresses is not yet finalized, and users can still submit objections.

AI Beauty Pageant with AI Models & AI Judges Debuts Miss AI: Are We Going Too Far with AI?

Miss AI debuted as the first beauty contest with AI models and AI-generated judges just last month. The top 10 shortlist is now out, but are we pushing AI too far and distorting societal beauty standards?

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Bybit Faces Internal Panic as Chinese Registration Opens Amid Regulatory Uncertainty

Bybit navigates regulatory challenges by shifting operations from Singapore to Dubai, reopening registration for Chinese users amidst concerns, while facing accusations of operating without a license in France.

Vitalik Buterin Criticizes the Celebrity Coin Craze: Respect Requires Meeting At Least Three Criteria

Addressing the community's view that "Ethereum currently lacks a clear overall development direction," Ethereum founder Vitalik Buterin responded yesterday and also expressed his strong dissatisfaction with the recent celebrity coin experiments.

Title: What is Large-Scale Adoption in Web3 Social Networks? A Case Study of the Viral NOTCOIN and UXLINK

Mass adoption in the cryptocurrency field has long been a narrative troubling the market. Many applications lose users due to the collapse of their economic models after achieving mass adoption. This article uses UXLINK and NOTCOIN as case studies to analyze the requirements that today's popular social projects need to meet.

South Korea's New Law Requires Exchanges to Pay Interest on Fiat Custodied by Banks, Upbit to Earn an Extra 50 Billion KRW Annually

The Virtual Asset User Protection Act of South Korea will take effect on July 19. Among its provisions, one law mandates that banks entrusted by cryptocurrency exchanges must pay interest on crypto deposits. This law significantly impacts K-Bank, the digital bank entrusted by Upbit, the largest exchange in South Korea.

Controversy Over China’s First Criminal Case Involving Issuance of Virtual Currency: Does Withdrawal of Liquidity Leading to Losses Constitute Fraud?

China has seen its first criminal case involving the issuance of virtual currency. The case has sparked controversy over whether withdrawing liquidity, resulting in trading losses, constitutes fraud.