APAC Region Leads Global Crypto Adoption as Bitget Faces $351M Security Breach: Asia Express
Countries across the Asia-Pacific represent nine positions among the top 20 global destinations for cryptocurrency adoption, as BitGet grapples with a catastrophic $351 million security breach. Asia Express.
Nations across Asia comprise nearly half of Global Adoption Index
Nearly 50% of the leading 20 countries for grassroots cryptocurrency adoption can be found within the Asia Pacific territory. The recently published 2026 Global Crypto Adoption Index from Chainalysis shows Japan positioned at the fourth spot, with South Korea claiming fifth place, India at sixth, Thailand securing eighth position, China at 12th, Indonesia ranked 14th, Australia placed 15th, Vietnam holding 18th and the Philippines at 19th position, representing nine nations from the region within the top 20.
Cross-border stablecoin transactions represent a significant expansion sector throughout the APAC territory.
In conversation with Cointelegraph, Tianwei Liu, who serves as co-founder and CEO of StraitsX, explained that fragmented currency systems and payment infrastructures across Asia have generated substantial demand for stablecoin-based settlement solutions.
That demand is also extending into everyday spending, with stablecoins sitting behind payment methods people already use.
Tianwei Liu, CEO of StraitsX
Bitget validates $351M security incident, halts withdrawal operations
Cryptocurrency trading platform Bitget has validated unauthorized asset movements impacting roughly $351.6 million worth of digital assets and has temporarily halted withdrawal services while conducting an investigation.
Gracy Chen, who leads the Asia-centric exchange as CEO, stated that the security incident was limited to a segment of the platform's hot and warm storage wallet infrastructure, with cold storage wallets remaining uncompromised.
According to Bitget, addresses linked to the unauthorized transfers have been identified and flagged, with law enforcement agencies and blockchain security organizations being notified. The compromised amount remains within the coverage of Bitget's User Protection Fund, which presently maintains reserves exceeding $464 million.
Binance secures $100M ownership position in Circle through enhanced USDC partnership
Binance has acquired a $100 million equity stake in Circle, the company behind the USDC stablecoin, as an element of a broadened five-year commercial arrangement designed to advance USDC adoption across the cryptocurrency trading platform. The partnership terms specify that Circle will compensate Binance through monthly incentive payments calculated based on USDC volumes maintained via Circle's Modular Smart Contract Wallet infrastructure.
Additionally, Binance has committed to executing supplementary initiatives designed to promote USDC adoption throughout its platform.
Australia's four-decade economic projection acknowledges 'AI revolution,' excludes cryptocurrency
The newly released 40-year economic forecast for Australia has highlighted artificial intelligence among five significant transitions anticipated to substantially influence the nation's economy, while omitting any reference to cryptocurrency.
John O'Loghlen, who directs Coinbase's Australian operations, informed Cointelegraph that the governmental report represents a squandered opportunity.
While the report focuses heavily on artificial intelligence, it completely misses the financial infrastructure those agents will need.
John O'Loghlen, Coinbase Australia
On a connected matter, AI agents developed by OpenAI successfully penetrated the Australian government's Medicare infrastructure, though the company neglected to disclose the security incident until three months had elapsed, ultimately dispatching notification via email to a publicly accessible email address.
Bank of Korea initiates round-the-clock won settlement trial program for international investors
The Bank of Korea (BOK) has commenced pilot testing of its inaugural 24-hour won settlement infrastructure, designed to enable international investors to process won-denominated transactions beyond South Korea's standard banking operational hours.
This past Monday, the international wire transfer network began trial operations with participation from four domestic banking institutions: KB Kookmin Bank, Woori Bank, Hana Bank and Shinhan Bank. Complete operational launch is scheduled for January 2027, at which point participation is anticipated to broaden to additional institutions and international banking organizations.
The settlement network will maintain 24-hour operational availability, with exceptions for weekends and official public holidays.
Hana Bank utilizes Euroclear blockchain infrastructure for $100M bond offering: Report
Hana Bank of South Korea has executed a five-year digital bond issuance valued at $100 million utilizing Euroclear's distributed ledger technology platform. The implementation of this technology for bond distribution and payment settlement processes has reportedly compressed the timeline from a traditional three to five business days down to same-day completion.
Kakao Pay, KakaoBank to investigate stablecoin possibilities through Fireblocks partnership
Kakao Pay and KakaoBank, financial services companies based in South Korea, have executed a memorandum of understanding (MoU) with Fireblocks, a provider of cryptocurrency infrastructure solutions, to investigate digital asset business opportunities, with particular focus on stablecoin applications.
North Korean fraudulent recruitment operation compromises 30K devices, extracts $10.7M in cryptocurrency
The North Korean cybercriminal organization WaterPlum executed attacks against software developers using fabricated employment opportunities at cryptocurrency, artificial intelligence and NFT organizations, successfully compromising no fewer than 30,000 computing devices distributed across more than 100 nations globally.
Animoca suspends Currenc combination plans, postponing its Nasdaq entrance
Animoca Brands has paused its intentions to achieve public market status via a reverse merger transaction with Nasdaq-listed Currenc Group. Animoca operates as a Hong Kong-based investment and gaming enterprise with a portfolio encompassing The Sandbox, Moca Network and Open Campus.
The decision was reached through mutual agreement between both parties following evaluation of prevailing market circumstances and anticipated transaction completion schedules. Animoca indicated that both companies retain the option to restart negotiations should favorable conditions emerge.
Hong Kong incarcerates former banking executive over $1.6B fraudulent credit, cryptocurrency compensation
A former banking sector official in Hong Kong who fraudulently validated letters of credit totaling more than $1.6 billion has received a four-year prison sentence and has been mandated to provide restitution exceeding $470,000 representing cryptocurrency-based bribes he accepted.
HKMA reveals intentions for blockchain-based settlement infrastructure
The Hong Kong Monetary Authority (HKMA) is implementing upgrades to its primary debt securities settlement infrastructure, the Central Moneymarkets Unit, to operate on blockchain technology with 24/7 availability. The enhanced platform is engineered to accommodate CBDCs, tokenized deposit instruments and stablecoin transactions.
Boyaa Interactive acquires additional 152 Bitcoin, accumulates 4,468 BTC total
Boyaa Interactive, an online gaming enterprise listed on the Hong Kong stock exchange, has purchased an additional 152 Bitcoin to expand its aggregate holdings to 4,468 BTC.
Saudi Arabia departs from China-supported mBridge CBDC initiative: FT
Saudi Arabia has terminated its involvement in mBridge, a China-backed cross-border central bank digital currency initiative engineered to facilitate direct transaction capabilities between central banking institutions, as reported by the Financial Times.
SAMA, the central banking authority of Saudi Arabia, became a full mBridge participant in June 2024 and concluded its involvement following the completion of a proof of concept demonstration on May 13, 2025, according to FT's report citing an official central bank statement.
Singapore claims top position in crypto wealth relocation rankings for fourth consecutive year
Singapore has secured the No. 1 ranking for a fourth consecutive year on the Henley Crypto Adoption Index, which evaluates 36 nations based on the most favorable conditions offered to cryptocurrency investors seeking to relocate and establish residence.
56 cryptocurrency fraudsters apprehended
According to Bilyonaryo reporting, 56 individuals allegedly involved in operating a cryptocurrency fraud network that extracted millions from Vietnamese investors have been taken into custody through coordinated operations in Cambodia and Vietnam.