DFSA Imposes Fines**: The #Dubai Financial Services Authority (DFSA) has fined the founders of #3AC and the #OPNX #exchange for their alleged involvement in regulatory breaches.

- **Fine Amounts**: Each of the founders, Peng “Michael” Geng and Zhang “Coco” Chen, has been fined $440,000, while OPNX as a firm has been fined $80,000.

- **Alleged Regulatory Breaches**: The DFSA alleges that the founders and the exchange failed to conduct proper due diligence, maintain adequate resources and governance, and adhere to #audit and cash flow standards.

- **Collapse of the Crypto Platform**: The regulatory shortcomings are claimed to have contributed to the eventual collapse of the OPNX crypto platform.

- **Founder's Response**: The founders have neither confirmed nor denied the DFSA's allegations. However, they have agreed to pay the fines and accept the imposed sanctions.

- **Regulatory Oversight**: The DFSA's actions demonstrate its commitment to enforcing regulatory standards in the crypto space and ensuring compliance by companies operating within its jurisdiction.

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Worldcoin Releases Two Separate Security Audit Reports 📝

#Worldcoin 's Proof of Humanity protocol released security #audit reports conducted by Nethermind and Least Authority.

Nethermind found 26 security issues, of which 24 were fixed, one mitigated, and another acknowledged during verification.

Least Authority identified three issues and made six suggestions, all of which have been resolved or planned for resolution. Worldcoin's "Orb" iris scanning verification process faced criticism for data collection practices.

The project's launch received mixed reactions in the crypto community, with concerns over privacy and potential data protection law violations. The audit reports covered various security topics, most of which were addressed, except one with an "undetermined" severity level, which was acknowledged.

#Binance