Hey there, PoI readers! 💫

It's your favorite tech and web3 navigator, Mochi, back with another electrifying dive into the digital universe! This week, we've got a rollercoaster of stories that'll make your tech-loving heart race. From AI training controversies to crypto heists and blockchain breakthroughs, we're serving up a feast of fascinating insights that'll keep you on the edge of your seat. 🌐 Get ready to explore the wild, weird, and wonderful world of technology – PoI style!

INTEL BRIEF

🟧 Meta receives EU approval to train AI using public social media content from adult users.

🟧 Northern Marianas Governor vetoes Tinian's proposed USD stablecoin bill, halting a potential innovative cryptocurrency initiative.

🟧 Emblem Vault CEO Jake Gallen warns about a crypto scam involving Zoom, losing over $100,000 to a threat actor called "ELUSIVE COMET".

🟧 Decentralized exchange KiloEX reports a $7.5 million exploit, likely caused by a price oracle vulnerability.

Meta Transforms Social Media into Secret AI Training Playground

Meta has just secured the European Union's blessing to transform billions of social media posts into AI training gold. The tech giant can now leverage public content from adult users across its empire of platforms – Facebook, Instagram, WhatsApp, and Messenger – to supercharge its artificial intelligence models.

Meta claims this is all about understanding the rich tapestry of European communication. Think dialects, local humor, and those delightfully quirky colloquialisms that make each country's online chatter unique. But before privacy advocates start sweating, the company has drawn some clear lines in the digital sand.

Meta's keeping its hands off private messages between friends and family. Additionally, any content from users under 18 remains strictly hands-off territory.

Meta's offering an opt-out option. Users will receive an in-app form, email, and what they promise is an easy-to-navigate exit strategy from AI training. This comes after a dramatic pause last July when privacy group None of Your Business filed complaints across 11 European countries, temporarily halting Meta's AI training ambitions.

The company isn't shy about comparing itself to the big leagues, noting that Google and OpenAI have already been using European user data for their AI models. With the EU's AI Act now in full swing since August 2024, Meta seems confident it's playing by the rulebook.

Meta receives EU permission to train AI using public adult user content

Private messages and under-18 data remain protected

Users can opt-out of AI training through provided forms

Tinian Loses Its Shot at Becoming a Crypto Pioneer

Northern Marianas Islands have effectively pulled the plug on Tinian's ambitious stablecoin project. Governor Arnold Palacios delivered a digital knockout punch by vetoing a bill that would have positioned this tiny island with just over 2,000 residents at the forefront of governmental cryptocurrency innovation.

The proposed Marianas US Dollar (MUSD) was set to be a fully backed stablecoin, with reserves of cash and US Treasury bills nestled safely in the Tinian Municipal Treasury. Tech nerds and crypto enthusiasts were particularly excited about the potential launch, which would have beaten Wyoming to the punch in creating a government-issued stablecoin.

The bill, initially introduced by Republican Senator Jude Hofschneider in February, was a creative blend of internet casino licensing and cryptocurrency ambition. The four-member Tinian delegation had unanimously passed the bill on March 12, seemingly paving the way for a groundbreaking financial innovation.

Governor Palacios wasn't buying it. In his veto letter, he raised concerns about jurisdictional boundaries and the bill's ability to effectively regulate cross-border activities. Translation: the governor saw more potential problems than possibilities in this crypto adventure.

The stablecoin was set to launch on the eCash blockchain (a Bitcoin Cash fork) and was strategically timed to coincide with Google's $1 billion plan to route fiber-optic cables through Tinian.

Governor vetoes Tinian's proposed MUSD stablecoin

Bill raised concerns about jurisdictional regulation

Planned launch on eCash blockchain now cancelled

Crypto CEO Gets Robbed in a Shocking Zoom Interview Scam

Jake Gallen, CEO of Emblem Vault, has fallen victim to a jaw-dropping digital asset theft that'll make even the most seasoned crypto enthusiasts break out in a cold sweat. The culprit? A sinister threat actor dubbed "ELUSIVE COMET" who turned a seemingly innocent Zoom interview into a $100,000 crypto hijacking.

The plot twist is as mind-boggling as a Hollywood heist: Gallen was contacted by what appeared to be a legitimate verified X account with 26,000 followers, supposedly belonging to a crypto mining platform founder. During a Zoom interview, the perpetrator pulled off a digital sleight of hand that would make even the most skilled con artist proud.

The hacker exploited Zoom's default remote access settings, tricking Gallen into installing malware called "GOOPDATE". This digital Trojan horse stole credentials and ransacked his crypto wallets like a virtual bandit. What's more alarming? The hacker even managed to breach Gallen's Ledger wallet – a device he'd rarely used and never digitally logged.

The cybersecurity firm The Security Alliance (SEAL) revealed that this "ELUSIVE COMET" is no ordinary threat actor. Operating under the guise of Aureon Capital, a seemingly legitimate venture capital firm, they've been responsible for millions of dollars in stolen funds. Their carefully engineered backstory makes them a digital wolf in sheep's clothing.

Crypto community, consider this your wake-up call! The hackers didn't stop at wallet theft – they even compromised Gallen's X account in an attempt to lure more unsuspecting victims through private messages.

Emblem Vault CEO loses $100,000 in crypto through Zoom interview scam

Threat actor "ELUSIVE COMET" exploited Zoom's default remote access settings

Hacked multiple accounts, including Ledger wallet and X profile

Decentralized Exchange KiloEX Suffers Massive Digital Heist

Decentdralize Exchange KiloEX is reeling from a massive $7.5 million exploit that has investors and cybersecurity experts on high alert. The platform has immediately suspended operations, launching a full-scale investigation that reads like a digital detective story.

Cybersecurity firm PeckShield revealed the eye-watering breakdown of stolen assets: $3.3 million from Base, $3.1 million from BNB, and $1 million from BSC. The prime suspect? A classic price oracle manipulation that's becoming all too familiar in the crypto world.

The exploit appears to be devastatingly simple yet ingenious. Cybersecurity analysts suggest the hacker pulled off a financial magic trick by creating a position with an initial ETH/USD price of 100, then immediately closing it with an inflated price of 10,000 – netting a cool $3.12 million in a single transaction.

Chaofan Shou from blockchain analytics firm Fuzzland described it as a "very simple vulnerability," pointing out that anyone could potentially manipulate KiloEx's price oracle. The exchange's security oversight allowed an unauthorized caller to slip through their defenses, creating a digital back door for the attacker.

The fallout has been swift and brutal. KiloEX's native token, KILO, has plummeted over 27%, trading at a mere $0.03596 – a far cry from its all-time high of $0.1648 just weeks ago. The timing couldn't be worse, coming just days after announcing a partnership with Dubai-based Web3 venture capitalist firm DWF Labs.

In a damage control blitz, KiloEX is now collaborating with BNB Chain, Manta Network, and multiple cybersecurity firms to trace and potentially recover the stolen funds. They've promised a full report and even launched a bounty program – crypto's version of a wanted poster.

KiloEX suffers $7.5 million exploit through price oracle vulnerability

Stolen funds spread across multiple blockchain networks

Native token KILO crashes over 27%

And that's a wrap, my lovely PoI readers! 🌟 I hope this edition left you feeling informed, entertained, and maybe even a little bit wiser. We've journeyed through the digital landscape together, uncovering stories that show just how wild and wonderful tech and crypto can be. Remember to stay curious, stay informed, and keep your digital wits sharp! 🔍 Until next time, this is Mochi, signing off with a virtual high-five! 🙌

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. very voice matters in the PoI community! 📣❤️ Share the newsletter

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