Bank of China Collaborates with BNP Paribas to Drive Digital Yuan Adoption

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Following a test phase, Jinan, Shandong Province’s capital, has implemented digital yuan payments on its bus lines. The city upgraded its card readers and bus route software to allow passengers to use the county’s CBDC to pay. Jinan also encourages the adoption of digital yuan by offering fee reductions to travelers who utilize the payment method. Changshu is deploying digital yuan for government worker pay as part of a larger campaign to boost digital yuan use in China. CBDC has also been applied for the country’s Belt and Road Initiative and cross-border trade. BNP Paribas, a French bank, recently teamed with the Bank of China (BOC) to encourage the usage of digital yuan, allowing corporate clients to link with the BOC’s system for real-time transactions.

Kunji Research Crypto Market Update

Huobi, a cryptocurrency exchange, has addressed a data breach that has placed customers’ funds at risk since June 2021. The breach involves the disclosure of credentials providing written access to all of Huobi’s AWS S3 buckets, which the firm utilizes for cloud storage. The intensity of the breach was severe, with the possibility for attackers to carry out the greatest crypto heist in history. On June 20, Huobi, which handles over $10 billion in monthly trading activity, erased the hacked account and protected its cloud storage. However, there was no proof that the hack was exploited to launch an assault. Huobi’s content delivery networks and websites were susceptible, which might have affected every Huobi login page in the previous two years. The issue involved the small-scale loss of user contact information (4,960 persons), although the sort of information disclosed had no impact on user accounts or money security. On June 21, 2023, the Huobi Security Team swiftly closed the necessary file access rights, and the present issue was resolved, with all linked user information destroyed.

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