AscendEX ceased operations on July 1, leaving customers uncertain about recovering their funds. The exchange cited a lack of EU authorization and financial/operational pressures, including a failed liquidity transaction. Withdrawals are now manually reviewed, with delays, rejections, and potential loss of full balances.
Prime Minister Narendra Modi has urged states to expedite the rollout of e-Zero FIRs, a system that automatically converts verified cyber-fraud complaints into FIRs. This digital initiative aims to bypass jurisdictional barriers and enable immediate action against fraudsters, addressing the growing threat of organized cybercrime in India. The CBI's Operation Chakra-VI recently conducted a major crackdown, arresting individuals involved in money laundering and uncovering fraudulent websites.
Volo, a liquid staking DeFi protocol on the Sui blockchain, disclosed a security breach resulting in approximately $3.5 million in losses affecting three isolated vaults containing WBTC, Matrixdock Gold XAUm, and USDC. The team immediately notified the Sui Foundation, froze affected vaults, and has recovered roughly $2 million of stolen funds. Volo plans to absorb losses rather than pass them to users, while $28 million in other vaults remains safe.
