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Asia Express: China Developer Fined Three Years' Salary for VPN Usage, Receives 10 Million e-CNY Airdrop

Asia Express: China Developer Fined Three Years’ Salary for VPN Usage, Receives 10 Million e-CNY Airdrop

Our weekly roundup of news from East Asia brings you the most important developments in the industry. Here are the key highlights:

– A Chinese worker has been fined $145,000 for using a VPN to access restricted websites as part of their remote work routine for a foreign employer. The use of VPNs to bypass China’s internet restrictions is prohibited by law, causing concern among those in the IT and Web3 circles.

– The city of Hangzhou is airdropping 10 million digital yuan (worth $1.37 million) to incentivize food and beverage spending during the 19th Asian Games. The airdrop can be used on food delivery platforms and will renew every five days until the balance is emptied.

– 15 individuals have been detained in connection with the collapse of cryptocurrency exchange JPEX in Hong Kong. The police have received over 2,392 complaints claiming a total loss of $191.6 million in the alleged Ponzi scheme.

– Despite falling victim to a $70 million wallet hack orchestrated by North Korea’s Lazarus Group, Hong Kong crypto exchange CoinEx has resumed services. Deposits and withdrawals on 190 cryptocurrencies have been restored, and the exchange plans to gradually resume services for the remaining 500+ cryptos.

– Chinese tech conglomerate Alibaba is partnering with crypto custodian Cobo to launch its own wallet service. The enterprise wallet-as-a-service solution will integrate crypto wallets into software through APIs and SDKs, aiming to set new standards in security, performance, and accessibility for Web3.

Summary:

– Chinese worker fined $145K for using VPN to access restricted websites.

– Hangzhou airdrops 10M digital yuan for food and beverage spending.

– 15 detained in connection with alleged Ponzi scheme at JPEX.

– CoinEx resumes services despite $70M wallet hack.

– Alibaba partners with Cobo to launch its own wallet service.

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