Alibaba executives called to discuss Shanghai police data leak


Asia in brief According to Nikkei and The Wall Street Journal.

The leak is believed to be from a misconfigured Alibaba Cloud server that did not require a password to access the treasure, which exposed names, home addresses, ID numbers, phone numbers and criminal records .

Cybersecurity researchers have also alleged that the digital certificates expired – possibly four years ago.

Since the leak was discovered, Alibaba engineers have reportedly been instructed to review the database architectures it offers in its cloud and check the configurations used by other customers.

The Shanghai police leak is said to be the biggest data breach on record.

Weibo will crack down on misspelled words and homophones

Chinese microblogging site Weibo announced last week that it would crack down on users who deliberately spell words or post using homophones or complex puns that seem innocuous but have political overtones.

“In order to create a clear and bright cyberspace and maintain a civilized and healthy social ecosystem, we will launch targeted regulations on the illegal behavior of using homophone characters, word variants and other ‘misspelled words’ to propagate information,” Weibo said, translated from Chinese by news outlet What’s On Weibo.

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Weibo promised to step up efforts to identify and remove suspicious keywords, and to establish a positive incentive for users not to use the terms.

The platform also encouraged its users to report content using homophones or other provocative political terms.

Crypto biz Vauld calls for a six-month restructuring moratorium

Singapore-based crypto lending firm Vauld has requested a six-month moratorium on its liquidation.

The company disclosed an overall shortfall of around $70 million last Monday, according to crypto-focused news outlet Block.

Estimated assets were listed at around $330 million and liabilities at around $400 million. The calculation is not difficult.

London-based crypto platform Nexo has officially expressed interest in acquiring Vauld.

Vauld suspended both trading and withdrawals on July 4, while looking for new investors amid “financial challenges” – namely, a withdrawal rush reaching nearly $200 million triggered by “conditions of volatile market”.

On July 11, the same day the shortfall was revealed, Vauld’s parent company, Defi Payments, requested a six-month extension to restructure the business.

“This is to give Defi Payments and Vauld management the breathing space they need to prepare for the planned restructuring for the benefit of all stakeholders,” Vauld said in a statement. “At this time, the Vauld Group continues to have discussions with Nexo Inc while Nexo Inc conducts its due diligence, and also explores potential restructuring options that would best protect the interests of Vauld Group stakeholders.”

ASEAN launches cross-border e-commerce complaint resolution service

The ASEAN trading bloc has launched an online consumer complaints feature to facilitate cross-border complaints about e-commerce transactions gone wrong.

The organization was created in recognition that ASEAN’s six hundred million people are increasingly likely to shop at stores in the ten-nation bloc and therefore need a way to resolve complaints outside their jurisdiction.

Complaints lodged through the project website can be lodged by individual consumers, collectively or by the representation of a consumer organization/association. Resolution within 30 business days is the goal.

The feature is a first step towards the goal of achieving an online dispute resolution network across the bloc by 2025. -Simon Sharwood

Philippines Central Bank Debunks Facebook Rumor That Folding Is No Good When Folded

The central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP), has issued an opinion that banknotes are legal tender even if they are bent.

The nation recently introduced a 1,000 peso ($17) polymer banknote. For reasons that are not entirely clear, a Facebook post claimed that citizens could not pay with the ticket after it was folded. Sigh.

The post went viral and some establishments stopped accepting the ratings – proving yet again that Facebook is making the world a better place, one ridiculous nugget of misinformation at a time.

The Bank’s statement “informs the public that folded banknotes, whether paper or polymer, can still circulate and be accepted for payment. As such, retailers and banks should accept them for day-to-day payment transactions”.

“Recently, the BSP issued guidelines on the proper handling of polymer banknotes. This includes storing banknotes in wallets where they fit properly (the typical bifold wallet meets this criteria), keep them clean and use them as a means of payment for goods and services,” adds the advice, before concluding by recalling that any bank branch can help authenticate a note. -Simon Sharwood ®

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