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Global AI Summit 2022 Kick-Starts Today at Riyadh

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Global Ai Summit 2022 Kick-Starts Today At Riyadh
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  • SDAIA is anticipating over 10K participants including significant figures in the AI field.
  • The summit will be happening in the King Abdul Aziz International Conference Center.

Global AI Summit 2022, is kicking off today in Saudi Arabia. The summit is a 3 days (Sept 13th to Sept 15th) long event at the country’s capital, Riyadh. The crown prince of Saudi is the overall coordinator and sponsor of the summit. ‘AI for the Good of Humanity is the theme for this year’s summit.

AI Now, Never, and Next are the further fractions of the theme. Various possibilities of AI’s intervention in diverse real-life problems are to be discussed at the summit. Saudi Data and AI Authority (SDAIA) is anticipating over 10,000 participants including experts, policymakers, and significant figures in the AI field.

Global AI Summit Attributes

The summit will be happening in the King Abdul Aziz International Conference Center, as per the Saudi Press Agency (SPA). Also, the Global AI Summit brings together the most significant policymakers, top investors, industry experts, and pioneers in the field right now to discuss everything from local and regional visions to the shared economic framework.

Speakers and attendees will participate in co-creating a vision for AI that will last even after the Summit. The projects and policies for discussion will be circulating the pillars of AI, like Smart Cities, Capacity Building, HealthCare, Transportation, Energy, Culture, Environment, and Economic Mobility. 

Abdullah Alghamdi, president of SDAIA, stated:

“We are excited to facilitate thought-provoking and engaging dialogue regarding the future of AI during this year’s summit.”

At the end of the summit, a total of 48 agreements and initiatives with the global public and private organizations will be signed by the kingdom of Saudi Arabia.

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CertiK Uncovers Suspicious $2.4M Payments Into Tornado Cash

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Certik Uncovers Suspicious $2.4M Payments Into Tornado Cash
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  • The money movement is linked to the October 2021 BXH Exchange breach.
  • GitHub reinstated the Tornado Cash code in “read-only” mode.

On Saturday, crypto security company CertiK said that it had uncovered a suspicious $2.4 million payment into the cryptocurrency mixer Tornado Cash. Information suggests the money movement is connected to the October 2021 BXH Exchange breach. It resulted in a loss of $139 million. Although the U.S. Treasury’s Office of Foreign Asset Control (OFAC) has placed sanctions on the crypto mixer. However, the exchange is still being used to move money.

The theft of over 4,000 ETH worth $139 million from the BXH Exchange at the end of October is likely connected to the transfer of funds.

Hackers Defying Sanctions

The address 0x158F5 is held by a third party and used the Binance Smart Chain and Avalanche staking contract’s privileged method to retrieve staked tokens and withdraw cash. The tokens were then transferred to Ethereum using the address.

CertiK reports that the staking contract holding the funds and locations was previously released by a Telegram group formed by persons affected by the BXH Exchange. Tokens with a bridging ERC-20 standard were converted to ETH at the address in question. To date, almost $2.4 million in value has been transferred into Tornado Cash, represented by 1865 ETH tokens.

Even after the Office of Foreign Asset Control at the U.S. Treasury banned suspicious transactions on Tornado Cash in August, the service is still accepting them. The crypto mixer platform has just received a transfer of 500 thousand DAI from EOA 0x0B789. The money transfer was associated with an exploit in DAO Maker.

After receiving confirmation from the Office of Foreign Asset Control of the United States Treasury, GitHub reinstated the Tornado Cash code in “read-only” mode.

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Whale Alert: 270 Million XRP ($130M) Bought by Whales

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Ripple (Xrp) Price Jumps To New Four-Month High
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  • The largest ever buy was on the Bitso crypto market for 54.1 million XRP.
  • XRP prices have increased by around 50% during the last week.

The native XRP token of Ripple has seen the most growth over the previous seven days. While Bitcoin and Ethereum have both had big price declines recently, XRP has seen a sharp increase. The current price increase of XRP may be attributed to a number of factors. Whales hoarding Ripple tokens is one instance.

Tokens worth around $130.2 million in XRP, almost 270M XRP have been transmitted from several cryptocurrency exchanges to many unknown addresses in the past 24 hours, according to data from Whale Alert. The largest ever buy was on the Bitso crypto market for 54.1 million XRP. Approximately $27.5 million worth of XRP coins were purchased by Whale all at once.

High Volatility Expected After Judgement

However, whales have been buying up XRP on the Bitstamp platform to the tune of nearly $84.1 million. To their XRP holdings, whales have just added more than $41.4 million over many trades. Meanwhile, a massive transaction involving 132 million XRP (about $62.1 million) was also spotted by the whale tracker.

Since the SEC and Ripple submitted their summary judgement papers, there has been a dramatic increase in the whale stockpiling of XRP tokens. The current increase was caused by new court documents. It also noted a surge in the number of active addresses holding between 1 and 10 million XRP tokens in late 2022.

On the other hand, XRP prices have increased by around 50% during the last week. Since word of the case’s resolution circulated favorably across the market, this is the result. At this moment, the price of XRP is $0.5015 as per CMC.

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California Governor Vetoes Crypto Regulation Bill

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Following Aftermath Of Recent Slump Bitpanda Announces Workforce Layoff
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