Right this moment in crypto, Dubai has launched the Center East’s first tokenized actual property undertaking. In the meantime, a crypto investor misplaced $2.6 million after falling sufferer to 2 phishing scams. In US politics, Home Speaker Mike Johnson dismissed considerations over President Donald Trump’s memecoin dinner.

Dubai launches first licensed tokenized actual property undertaking in MENA area

Dubai has launched the primary licensed tokenized actual property undertaking within the Center East and North Africa (MENA) area, previewing urge for food for real-world tokenization in one of many world’s burgeoning crypto hubs.

Companions within the undertaking embody the Dubai Land Division (DLD), the Central Financial institution of the United Arab Emirates, and the Dubai Future Basis, in response to an announcement from the Dubai authorities. The tokens might be tradeable on the newly launched “Prypco Mint” platform, with Zand Digital Financial institution appointed because the financial institution for the undertaking’s pilot part.

On Could 19, Dubai’s Digital Property Regulatory Authority (VARA) up to date its guidelines to incorporate real-world asset (RWA) tokenization, permitting such tokens to be traded on secondary markets.

The undertaking will permit particular person traders to purchase tokenized shares in “ready-to-own properties in Dubai,” with investments beginning at 2,000 Emirate dirham ($545). Throughout the pilot part, all transactions might be carried out within the dirham (AED), with no cryptocurrency for use. Though the pilot program might be restricted to these with UAE ID holders, there are plans to broaden it globally.

In April, the DLD and VARA agreed to hyperlink Dubai’s actual property registry with the tokenization of property. The acknowledged objective was to draw world traders and improve liquidity in Dubai’s actual property market. The undertaking was initially introduced in March.

Crypto investor loses $2.6 million in stablecoins in double phishing rip-off

A single sufferer was scammed two occasions inside three hours, shedding a complete of $2.6 million in stablecoins.

In response to information shared on Could 26 by crypto compliance agency Cyvers, the sufferer despatched 843,000 price of USDt (USDT), adopted by one other 1.75 million USDt round three hours later. Cyvers mentioned the rip-off used a way referred to as a zero-value switch, a complicated type of onchain phishing.

Zero-value transfers are an onchain phishing approach that abuses token switch capabilities to trick customers into sending actual funds to attackers. The attackers exploit the token switch From operate to switch zero tokens from the sufferer’s pockets to a spoofed tackle.

For the reason that quantity transferred is zero, no signature by the sufferer’s non-public key’s crucial for onchain inclusion. Consequently, the victims will see the outgoing transaction of their historical past.

The sufferer might belief this tackle since it’s included of their transaction historical past, mistaking it as a recognized or secure recipient. They could then ship actual funds to the attacker’s tackle in a future transaction.

In a single high-profile case, a scammer utilizing a zero-transfer phishing assault managed to steal $20 million price of USDT earlier than getting blacklisted by the stablecoin’s issuer in the summertime of 2023.

Speaker Johnson shrugs off Trump crypto dinner considerations

US Home Speaker Mike Johnson dismissed considerations on President Donald Trump’s dinner for the highest holders of his memecoin when talking to CNN on Could 25 and dodged answering whether or not the attendees must be made public for transparency.

“We do not know who was there. The list has not been released. We do not know how much of the money came from outside the country,” CNN’s Jake Tapper advised Johnson. “I really have a difficult time imagining that if this was a Democratic president doing the exact same thing, you wouldn’t be outraged.”

“Look, I don’t know anything about the dinner,” Johnson answered, claiming he “was a little busy this past week,” specializing in passing a $1.6 trillion federal finances funding invoice.

He added he was “not sure who was there or what the purpose was” earlier than claiming Trump is “the most transparent president” in historical past and “has nothing to hide.”

Trump invited the highest 220 largest holders of his Official Trump (TRUMP) memecoin to a dinner on Could 22 on the Trump Nationwide Golf Membership in Virginia, however saved the visitor listing secret, with critics involved that international nationals might have used the occasion to pay for entry to the president.