Changxin Technology’s trading volume exceeds 20 billion yuan, down nearly 5%.

The Shanghai Intermediate People's Court of China has released a typical judicial case, analyzing the determination of whether "referral personnel" in telecom and online fraud cases involving virtual currencies constitute accomplices to fraud. From February 2022 to April 2023, the defendants, seeking illicit profits, assisted upstream fraud crimes in referral activities—using virtual phone software to lure victims into joining fraud-related groups, ultimately leading to 30 victims being defrauded of a total of over 2.34 million RMB by an overseas fraud organization (currency unit same hereinafter). The overseas fraud organization transferred the funds to the suspects' trading accounts via virtual currencies. The three defendants in this case were convicted of fraud and sentenced to fixed-term imprisonment ranging from 10 to 13 years. The Shanghai No.1 Intermediate People's Court noted that in telecom and online fraud cases, "referral personnel" may, depending on the circumstances, be convicted as accomplices to fraud or the crime of illegal use of information networks. The key lies in determining whether they have formed clear criminal intent communication with the upstream fraud syndicate and whether there is a stable division of labor and collaboration. When determining the criminal liability of "referral personnel" in judicial practice, factors such as their role in the criminal chain, level of organizational management, connections with upstream criminals, profit-making methods, and abnormal behavioral manifestations should be comprehensively considered. A distinction must be made between acts that only provide general network services without forming a fraud conspiracy, and "referral" acts that knowingly participate in the implementation of fraud.

Layer 1 blockchain Decred announced it has discovered a vulnerability, with a fix patch scheduled for release on the evening of August 18 (Beijing Time). Out of caution, the project’s official team advises users to disable voting and mining functions before upgrading, and will issue an announcement immediately after the patch goes live.

According to Taiwan Economic Daily, power semiconductor manufacturers in Taiwan, China are planning a third round of price adjustments, with non-contract products set to see a 10% to 15% price hike as early as October. Industry insiders are optimistic that firms including Taiwan Semiconductor, Alpha and Omega Semiconductor, and Delta Microelectronics will achieve both volume and price growth in their operations in the second half of the year. (Jinshi)

According to Bitget market data, South Korea’s KOSPI index closed 1.55% lower at 6869.80 points. Samsung Electronics fell 2.19%, while SK Hynix rose 1.03%. Japan’s Nikkei 225 index closed 2.54% lower at 67460.73 points.

On the Sui blockchain, DeFi project NAVI Protocol has officially launched the NAVI Prime lending framework, becoming the first project in the Sui ecosystem to roll out curator-managed lending vaults. NAVI Protocol went live on Sui mainnet in 2023, with a historical peak total value locked (TVL) exceeding $1 billion, over 1.1 million cumulative users, and stands as one of the first lending protocols in the Move ecosystem to implement the isolated risk pool model. NAVI Prime adopts a curator-led lending model similar to Morpho, designed for institutional-grade risk standards and deep liquidity. It was developed over four months and completed more than three independent security audits. This week, NAVI Protocol will release a full launch announcement jointly with the Sui official team. Traditional DeFi lending typically mixes risk assets into a single pool, making risk isolation challenging. NAVI Prime leverages independently curated lending markets, assigning separate risk frameworks, collateral valuation methods, and market parameters for different asset allocations, enabling modular management that enhances capital efficiency while reducing cross-market risk contagion. The launch of NAVI Prime marks the Sui lending ecosystem advancing toward a more mature and specialized direction, and provides institutional capital entering the Sui DeFi ecosystem with infrastructure more aligned with traditional financial risk control standards.

According to market data from BIT (Bit.com), US stock futures are trending lower: Nasdaq 100 futures fell more than 1%, S&P 500 futures dropped 0.5%, and Dow futures declined 0.2%.