India

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India Cracks Down on $48M Crypto Fraud in Fiewin Gaming App With Binance Help

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India’s Enforcement Directorate has exposed a massive $48 million scam linked to the online gaming app Fiewin, connected to Chinese nationals. Following an in-depth investigation, an equivalent of about $3 million has been frozen in accounts tied to these individuals. The scam lured users with quick earning schemes but blocked fund withdrawals. The investigation also … Read more

Putin: BRICS Nations Developing Own Payment and Settlement System

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Russian President Vladimir Putin has revealed plans for an independent payment system in collaboration with BRICS nations to secure foreign trade transactions. This move reflects a strategic shift aimed at increasing Russia’s and BRICS’s autonomy in global trade amid broader economic changes. Russia Announces Independent Payment System with BRICS for Foreign Trade During the Russian … Read more

Wazirx Granted 4-Month Moratorium, Will Make Wallet Addresses Public

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Indian crypto exchange Wazirx has secured a four-month moratorium granted by a Singapore court, providing time for the company to address its financial obligations while crafting a resolution plan. Wazirx explained that as part of the court’s conditions, it will “make wallet addresses public via a court affidavit, respond to user queries raised in the … Read more

North Korea Signals Closer BRICS Relations Amid Growing Russia Ties

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North Korea may be ramping up efforts to align itself with the BRICS economic bloc, as its top diplomat skipped the United Nations General Assembly in favor of a BRICS-related event. Analysts suggest that while Kim Jong-un seeks to break diplomatic isolation through such alliances, North Korea’s sanctions and economic constraints make membership unlikely. Recent … Read more

BRICS to Discuss Alternative Payment Platforms at Upcoming Summit

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Russian Foreign Minister Sergey Lavrov announced that a report on alternative payment systems for BRICS nations will be presented at an upcoming summit in Kazan. The proposal, led by Brazilian President Lula da Silva, seeks to reduce reliance on traditional financial platforms. Lavrov emphasized the increasing use of national currencies in BRICS trade, particularly with … Read more

BRICS Beats Dollar Dependence: National Currency Settlements Exceed USD Payments

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The BRICS bloc might have already overcome its dollar-dependence problem, as the volume of settlements in the national currencies of its member nations has already surpassed the USD-based exchanges. Using the U.S. dollar can lead to expenses that can be avoided when paying with other currencies, BRICS Deputy Chairman of the Chamber of Commerce and … Read more

Supreme Court of India’s Youtube Channel Hacked to Promote XRP Scam

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The Youtube channel of India’s Supreme Court was compromised, promoting a scam involving XRP cryptocurrency instead of its usual live hearings. The breach temporarily shut down the channel, but services resumed later that day. Ripple CEO Brad Garlinghouse responded, condemning the exploitation of crypto users. XRP Scam Promoted on Supreme Court of India’s Youtube Channel … Read more

FATF Urges India to Strengthen Virtual Asset Regulation

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India has achieved a high level of technical compliance with Financial Action Task Force (FATF) standards, addressing illicit finance, money laundering, and terrorist financing. In a joint assessment with regional bodies, the FATF praised India’s progress but pointed out areas needing improvement, especially in regulating the non-financial sector and virtual asset providers. The country was … Read more