Chinese | Crypto

The motion to pause repayments to residents of certain countries has added a new wrinkle to the FTX saga. A Chinese creditor has filed an objection to a motion from the FTX estate that would pause payouts to residents in jurisdictions with laws or regulations restricting cryptocurrency transactions, according to a Tuesday court filing. The creditor, Weiwei Ji, stated that although they reside in Singapore, they have been classified as a Chinese creditor due to holding a Chinese passport. Ji noted that the objection was submitted on behalf of Ji and a growing group of Chinese creditors — reportedly over 300 individuals, according to the filing. The objection raises two key arguments: First, that FTX settlements are made in US dollars, which are a standard legal repayment method. Second, it notes that cryptocurrency distributions are legal in China, with digital assets constituting “personal property.” “My family holds four KYC-verified accounts with aggregate claims exceeding $15 million USD… We have fully com...

Chinese printer maker Procolored reportedly spread clipboard-hijacking Bitcoin malware via its official drivers in a supply chain attack that led to over $950,000 in stolen funds. Chinese printer manufacturer Procolored distributed Bitcoin-stealing malware alongside its official drivers, according to local media reports. Chinese news outlet Landian News reported on May 19 that Shenzhen-based printer company Procolored has been distributing Bitcoin-stealing (BTC) malware alongside official drivers. The company reportedly used USB drivers to distribute malware-ridden drivers and uploaded the compromised software to cloud storage for global download. A total of 9.3 BTC worth over $953,000 have been stolen, according to the report. Crypto tracking and compliance firm Slow Mist described how the malware operates in a May 19 X post: Read more

Binance Wallet “killing” competition and airdrops, K-drama actress embezzles $3M, Chinese firm to issue RWAs in Hong Kong. Asia Express. Cryptocurrency exchange Binances wallet has surged out of nowhere in 2025 to become the dominant in the industry. It closed the week starting on May 5 with an 86% share of the swap market, and so far, in the week starting on May 12, its at 93%, according to Dune Analytics data. At the first full week of the year, Binance Wallet controlled a measly 3.4% while OKX led the industry with 44.6% of the market, with MetaMask and imToken each at around 18.5%. Read more