Financial
RBI regulates crypto trading with no restriction in India
The Reserve Bank of India explains that there is no ban on banks lending bank accounts for the cryptocurrency traders.
In a Right to Information (RTI) question raised by Unocoin co-founder Harish Bv, According to a report by Cointelegraph, the central bank explains that there is no ban.
Feedback to RTI query documented on April 25, On May 22, RBI declared that “As on date, no such prohibition exists. “
As per the report, most of the banks such as The central bank and other commercial banks i.e., State Bank of India (SBI), HDFC Bank, ICICI Bank, Axis Bank, and Bank of Baroda have not reacted to queries.
RBI’s directive was suppressed by the Supreme Court in March, that forbidden entities beyond its jurisdiction from trading in digital currencies.
Just after the apex court declaration, traders had put forward questions that banks were going on with to compel regulations.
“After Supreme Court scrapping RBI’s Ban on crypto and RTI’s reply from RBI, it is clear that there is no need for any blockchain or crypto company to register out of India.”
According to the report, Harish clarifies that “Bankers have been saying that they need new RBI circulars mentioning that there are no more restrictions for them to provide bank accounts for crypto businesses. Now, we have received a positive response from the RBI.”
Crypto
Binance Faces Renewed Legal Battle Over Alleged $80M BTC Theft
A Florida scam victim will get a second chance to pursue legal action against Binance Holdings Inc. after a state appeals court ruled that a lawsuit over the alleged theft of $80 million worth of Bitcoin can move forward. The Florida Third District Court of Appeals determined on Wednesday that a lower court improperly dismissed the case for lack of personal jurisdiction, stating the plaintiff presented a plausible argument that Binance conducts business activities connected to Florida users.
The lawsuit, originally filed in state court, claims scammers gained access to the victim’s Binance account and transferred roughly $80 million in Bitcoin off the exchange. According to the plaintiff, Binance was notified immediately and provided with transaction details but did not freeze the stolen assets in time, allowing the funds to vanish permanently. The defendant argues it has no direct operational presence in Florida, but the appeals court disagreed, reviving the case and sending it back to the trial court for further proceedings.
The decision does not determine whether Binance is liable, but it opens the door for discovery, hearings, and evidence collection. Legal analysts say the ruling could have wider implications for global crypto exchanges that serve U.S. users while attempting to avoid state-level jurisdiction.
This lawsuit adds to Binance’s broader legal challenges over the past two years, including federal scrutiny regarding compliance and operational practices. As the case progresses, the Florida court will assess whether Binance can be held responsible for failing to safeguard customer assets amid an alleged sophisticated crypto theft.
Crypto Currency
Sony’s Big Step Into Stablecoins & Web3 Infrastructure
Revolutionary: Sony’s Soneium Layer 2 Integrates Startale USD Stablecoin for Seamless Transactions
Sony’s Ethereum-based Soneium Layer 2 network has officially integrated the Startale USD stablecoin, marking a significant advancement for blockchain adoption. This move introduces a native digital dollar tailored for the Soneium ecosystem, setting the stage for smoother transactions and stronger Web3 utility. The integration highlights Sony’s strategy to make cryptocurrency both practical and accessible.
The Startale USD stablecoin, USDSC, now acts as the primary transactional currency within Soneium. According to Sota Watanabe, founder of Astar Network and CEO of Startale Labs, USDSC powers all financial operations in the Startale ecosystem. Users can expect low-cost transfers, minimal volatility, and fast settlement times across the network. This solves one of blockchain’s longstanding issues—reliable value transfer—by anchoring transactions to a stable asset that avoids the price swings of typical cryptocurrencies. Soneium leverages Ethereum’s security while delivering major improvements in scalability and speed through its Layer 2 architecture.
Sony’s stablecoin integration is an important marker for broader crypto adoption. It demonstrates how large corporations can collaborate with crypto-native projects to build real-world utility. With lower transaction fees, predictable pricing, and a frictionless user experience, Sony’s move opens the door for millions of users to interact with blockchain-backed applications for the first time. Stablecoins like USDSC eliminate volatility concerns, encouraging broader use of digital payments and decentralized financial tools.
This development also strengthens the wider Ethereum ecosystem. Corporate deployments on Layer 2 networks validate Ethereum’s scaling roadmap and encourage more developers to build applications using this approach. As major brands expand their Web3 footprints, Ethereum’s network effects deepen, driving further innovation and user adoption. However, regulatory pressures surrounding stablecoins remain a challenge, and Sony will need to navigate compliance carefully. User adoption will ultimately determine whether Soneium becomes a widely used blockchain environment.
Looking ahead, the integration of Startale USD is likely only the beginning of Sony’s blockchain ambitions. Potential future applications include seamless in-game payments, NFT-based collectibles, Web3 loyalty systems, decentralized identity tools, and interoperable digital assets across Sony platforms. By partnering with Startale Labs, Sony gains specialized blockchain expertise while focusing on its strengths in entertainment, gaming, and consumer technology.
Sony’s adoption of the USDSC stablecoin marks a major milestone in corporate blockchain integration. It blends the power of decentralized finance with the reach of a global tech leader, offering a practical pathway for mainstream audiences to interact with crypto-based systems. If successful, this model could inspire other major corporations to embrace blockchain technology and reshape digital finance for everyday users.
Blockchain
Aerodrome Finance Faces DNS Hijacking Attack: Users Redirected to Phishing Sites
Aerodrome Finance — one of the largest decentralized exchanges (DEXs) on Coinbase’s Base network with more than $400 million in total value locked — has suffered a DNS hijacking attack that compromised its front-end website late Friday.
According to the Aerodrome team, attackers managed to infiltrate the centralized domain settings for aerodrome.finance and aerodrome.box, redirecting unsuspecting users to phishing sites designed to steal wallet credentials and drain funds.
Importantly, no smart contracts were compromised. All on-chain components of the protocol — including liquidity pools and treasury funds — remain fully secure.
What Happened? Aerodrome’s Domain Hijacked
The attack targeted Aerodrome’s DNS configuration, allowing hackers to replace the legitimate website with a malicious clone.
Users interacting with the fake interface risked signing transactions that transferred tokens to attacker-controlled wallets.
Because the exploit occurred at the domain level, Aerodrome is now urging users to:
- Avoid visiting aerodrome.finance and aerodrome.box
- Use the ENS-backed decentralized mirror:
aero.drome.eth.limo
Aerodrome stated that My.box, the domain provider, is currently investigating whether a system-level vulnerability enabled the hijack.
User Risks and Safety Guidelines
To protect users from further harm, Aerodrome issued urgent safety recommendations:
Use Only Verified Links
ENS domains bypass traditional DNS infrastructure, reducing the risk of tampering.
Revoke Recent Token Approvals
If a user unknowingly interacted with the phishing domain, criminals could still drain funds through previously granted permissions.
Tools like Revoke.cash allow users to quickly remove risky approvals.
Double-Check Transactions
Never approve token transfers or contract interactions through unverified websites.
Aerodrome previously suffered a similar front-end exploit in late 2023, which resulted in $300,000 in losses. This highlights a recurring challenge across Web3 platforms: while smart contracts may be secure, front-end attacks remain a persistent threat.
Market Response: AERO Token Remains Stable
Despite the security scare, the AERO token remained remarkably stable:
- Trading at ~$0.67
- Up 2% in the past 24 hours
Investor confidence appears intact, likely due to clarity that the exploit affected only the website’s front end — not the underlying DeFi infrastructure.
The incident also arrives just days after Aerodrome announced a major merger with Velodrome, combining liquidity and governance elements across Base and Optimism under a unified Aero ecosystem.
Ongoing Investigation
Aerodrome’s security team continues to collaborate with cyber specialists and infrastructure partners to trace the cause and verify the full scope of the attack.
Until the official domains are confirmed safe, the team advises users to rely exclusively on decentralized ENS-based access points.
The event also comes amid rising threats across the crypto space, including the Lazarus Group’s recent $1.4 billion theft from Bybit, underscoring escalating risks in centralized and semi-centralized Web3 systems.
Conclusion
The Aerodrome DNS hijacking attack serves as a powerful reminder that even secure DeFi protocols can be undermined by vulnerabilities at the interface layer. While user funds controlled by smart contracts remain safe, front-end exploits pose serious risks and demand heightened vigilance.
As Aerodrome works toward restoring full security and transparency, users are strongly advised to verify URLs, revoke suspicious approvals, and follow official updates.
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