A man was convicted of smuggling himself into Myawaddy and other parts of Myanmar to participate in telecom fraud, inducing victims to invest in cryptocurrencies.
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Mantle's third tokenized stock, Bending Spoons (BSPx), has officially launched.
According to Foresight News , following the listings of SPCXx and USPXx within weeks of their public offerings, BSPx has officially launched on Mantle. BSPx represents the tokenized stock of Bending Spoons, which owns brands such as WeTransfer, Vimeo, Evernote, and AOL. BSPx is issued by xStocks and is already available for trading on Fluxion. BSPx trades through Fluxion's hybrid infrastructure, where its Atomic RFQ mechanism anchors to real-time market quotes during trading hours to support pricing; meanwhile, the AMM execution mechanism ensures that trading continues uninterrupted after the market closes. BSPx is the third tokenized stock to launch on Mantle in less than a month. SPCXx launched on June 19th, and USPXx on June 23rd. Mantle states that this makes it one of the first L2 networks to be able to tokenize newly listed stocks and bring them on-chain at a traditional market listing pace. Foresight News previously reported that xStocks' xPoints are now available on Mantle. Simultaneously, the Mantle DEX Fluxion is offering an additional 1 million Fluxion Points as a reward to users. Therefore, every eligible BSPx trade can participate in both reward programs: earning xPoints (the native xStocks reward) and sharing an additional 1 million Fluxion Points based on trading volume and liquidity contribution. This reward covers the entire xStocks asset portfolio, including TSLAx, NVDAx, AAPLx, METAx, GOOGLx, MSTRx, SPCXx, USPXx, and BSPx.
Myanmar's AI-driven telecom fraud industry exposed: Starlink becomes key infrastructure, encrypted payments and OpenAI/Google models incorporated into toolchains.
A leaked investigative report from a Myanmar scam Odaily park reveals that global telecom fraud is rapidly evolving towards an "AI industrialization + cross-border encrypted payment" system. These fraud networks use cryptocurrencies to transfer funds and employ automated tools based on large models for multilingual script generation, identity spoofing, and emotional manipulation. The investigation shows that these systems heavily utilize OpenAI's ChatGPT and Google's Gemini to support "large-scale social media fraud," while funds are rapidly laundered and transferred through on-chain payments and cross-border channels, forming a two-tiered structure of "AI customer acquisition + encrypted settlement," enabling the fraud industry to achieve high automation and transnational expansion capabilities. Furthermore, Elon Musk's Starlink has become the leading network service provider in the Myanmar scam industrial park, with US ISPs handling nearly one-fifth of the park's traffic. In response to the allegations, OpenAI stated that fraudsters using ChatGPT behave in a manner highly similar to ordinary users, making identification difficult. However, they have been using behavioral pattern recognition and risk control systems to ban approximately 100,000 suspicious accounts monthly. Google stated that its AI models have security safeguards in place and emphasized its commitment to "responsible AI development" to limit the use of tools for fraudulent and other illegal purposes. (Red Star News)
Goldman Sachs injects a strong boost into South Korean stocks: another 20% rise in the second half of the year! Market leverage risk is overestimated, and opportunities will spread to six main themes.
According to BlockBeats, on July 6th, Goldman Sachs released its second-half strategy framework for the South Korean stock market, maintaining its 12-month target of 12,000 points for the KOSPI index, representing over 20% upside from current levels. The core support comes from a 320% year-on-year earnings growth forecast and a forward P/E ratio of only 6.65. This indicator is 2.7 standard deviations below its historical average, the lowest since 2009. In the first half of the year, South Korean stocks led Asia with a 92% gain, but this growth was primarily driven by upward revisions to earnings rather than valuation expansion: forward EPS was revised upwards by nearly 200%, while the forward P/E ratio actually compressed slightly. Samsung Electronics and SK Hynix contributed nearly 90% of the index's gains, with their combined market capitalization weight rising to 56% and their earnings weight reaching 72%. Goldman Sachs believes this concentration reflects earnings more accurately than a bubble, but market breadth has fallen to its lowest level since the pandemic, and continued gains in the second half of the year will likely lead to increased volatility. Regarding retail investor concerns, Goldman Sachs points out that leverage levels are overvalued. The growth in leveraged ETF size is primarily driven by asset appreciation rather than new leveraged funds. The margin loan-to-deposit ratio is actually declining, indicating that retail investors still hold substantial cash reserves and their asset allocation remains heavily focused on real estate. Goldman Sachs believes that opportunities in the Korean stock market in the second half of the year will expand from memory chips to six main themes: the industrial sector (accelerated defense orders, unmet demand for VLCC replacements), robotics and physical AI (Korea's auto parts ecosystem is expected to become a core supplier of humanoid robots), batteries and power infrastructure (driven by data center energy storage demand), beneficiaries of corporate governance reforms (multiple regulations implemented since July, with over 70% of listed companies having a PBR below 1), reflation trading (semiconductor profit spillover effects driving upward revisions to GDP and extending the interest rate hike cycle), and the semiconductor capital expenditure supply chain (the government plans to invest 800 trillion won in three major projects). Goldman Sachs also warns of three risks: seasonal weakness in the third quarter, technical correction pressure from a significant deviation of the index from the moving average, and amplified volatility due to hedging operations by leveraged ETF market makers. The combination of earnings growth and low valuations makes South Korea the market with the lowest PEG ratio in Asia, and the current valuation misalignment provides significant room for stock selection in the second half of the year.
Myanmar's telecom fraud AI industrialization exposed: Starlink becomes key infrastructure, encrypted payments and OpenAI/Google models are incorporated into the toolchain.
According to a report by Red Star News, citing Mars Finance, an investigative report leaked from a scam industrial park in Myanmar reveals that global telecom fraud is rapidly evolving towards an "AI industrialization + cross-border encrypted payment" system. These fraud networks use cryptocurrencies to transfer funds and employ automated tools based on large models for multilingual script generation, identity spoofing, and emotional manipulation. The investigation shows that these systems heavily utilize OpenAI's ChatGPT and Google's Gemini to support "large-scale social fraud," while funds are rapidly laundered and transferred through on-chain payments and cross-border channels, forming a two-tiered structure of "AI customer acquisition + encrypted settlement," enabling the fraud industry to achieve a high degree of automation and transnational expansion. Furthermore, Elon Musk's Starlink has become the leading network service provider in the Myanmar scam industrial park, with US ISPs handling nearly one-fifth of the park's traffic. In response to the allegations, OpenAI stated that the behavior of fraudsters using ChatGPT is highly similar to that of ordinary users, making identification difficult, but they have already blocked approximately 100,000 suspicious accounts monthly through behavioral pattern recognition and risk control systems. Google stated that its AI models have safety barriers in place and emphasized its commitment to "responsible AI development" to limit the tools from being used for illegal purposes such as fraud.
An anonymous defendant has requested the dismissal of a lawsuit seeking to recover 39,000 dormant Bitcoin addresses.
According to Foresight News , citing Cointelegraph, an anonymous defendant has filed a motion to dismiss a New York lawsuit filed in May. The plaintiff, Noah Doe, and two Wyoming LLCs claimed ownership of 39,069 dormant Bitcoin addresses, which collectively held approximately 3.7 million BTC, worth about $234 billion. The defendant, identifying himself as "John Doe 33," filed a notice of appearance and motion to dismiss on Thursday, claiming ownership of a dormant wallet listed in the lawsuit. He argued that Bitcoin addresses are merely data strings and cannot be considered as defendants, and that publicly available addresses do not constitute recoverable objects under New York lost property law. Blockchain data suggests the defendant may hold a wallet that received 5,000 BTC in April 2014 and has remained unchanged for 12 years, worth over $300 million at current prices. Alex Thorn, head of research at Galaxy Digital, stated that the application prevented what was previously a "near-certain" default judgment and challenged the jurisdictional and statutory deficiencies in the plaintiff's lawsuit.
Galaxy: There is a structural conflict between US SEC custody rules and DeFi demand.
According to Mars Finance, Galaxy stated in an article published on the X platform that many Registered Investment Advisors (RIAs) are struggling to respond to clients' demands to allocate funds to DeFi while meeting the compliance requirements of the US SEC custody rules. The main pain point is that current rules require client assets to be held in qualified custody institutions, which effectively excludes the self-custody path, making it difficult for traditional financial accounts to directly participate in DeFi strategies.