Binance claims to have assisted in the closure of a Chinese crypto scam app in India. In August, India’s Enforcement Directorate [PDF] announced the arrest of four individuals who were allegedly aiding Chinese nationals in running a fraudulent gaming app called Fiewin—one of the suspects used the alias “Joseph Stalin.”
The app allegedly promised users the chance to win real money but was suspected to be a front for a money laundering scheme.
How does Binance take action against crypto scams?
The individuals were allegedly running accounts on Binance, and the cryptocurrency company stated that Indian authorities provided “deep cooperation” in revealing that “the app was part of a cross-border criminal network.” It seems that the perpetrators “used various methods to conceal the origin and movement of illicit funds through bank accounts and cryptocurrency wallets, creating a complex web of transactions to evade detection and tracking.”
On another front, the Vietnamese government announced that SpaceX is looking to invest $1.5 billion in various projects within the country. The investment proposal is currently under review, following discussions between Vietnamese President To Lam and SpaceX Vice President Tim Hughes. Past interactions between SpaceX and Vietnam have faced challenges related to regulatory hurdles and investment timelines.
Lam also met with Google Vice President Karan Bhatia to explore expanding Google’s investments in Vietnam, particularly in areas such as artificial intelligence, cybersecurity, and cloud services.
In Singapore, two Invincible-class submarines were recently launched to defend local waters, including submarine communication cables connecting the island to the world. Prime Minister and Finance Minister Lawrence Wong emphasized that the submarines “will conduct a variety of operations to protect Singapore’s waters, safeguard maritime communication lines, and contribute to regional peace and security.”
Elsewhere, reports indicate that between 3,500 and 4,000 Ola Electric scooters are awaiting repairs at one of the company’s over 500 service centers due to a shortage of spare parts and skilled labor. One disgruntled scooter owner even set fire to an Ola showroom and was subsequently apprehended.
Bhavish Aggarwal, a proponent of the 70-hour workweek and the founder of Ola, announced on LinkedIn that the company plans to double the number of service centers and train an additional 100,000 mechanics by the year’s end.
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