PANews reported on November 1st that, according to the Hangzhou Municipal Government's official WeChat account, several primary school students recently fell victim to a scam while playing a game called "Egg Party." A criminal gang impersonated police officers, claiming that the game accounts had been misused by criminals, and induced victims to "cooperate with the investigation" and transfer money, some amounts reaching tens of thousands of yuan. The Fuyang District People's Procuratorate of Hangzhou has accused the gang of quickly converting the proceeds into cryptocurrency and then laundering the money through on-chain transfers. Prosecutors warn that anyone claiming to be law enforcement and requesting transfers to so-called "safe accounts" is a scam, and parents should strengthen anti-fraud education for their children.PANews reported on November 1st that, according to the Hangzhou Municipal Government's official WeChat account, several primary school students recently fell victim to a scam while playing a game called "Egg Party." A criminal gang impersonated police officers, claiming that the game accounts had been misused by criminals, and induced victims to "cooperate with the investigation" and transfer money, some amounts reaching tens of thousands of yuan. The Fuyang District People's Procuratorate of Hangzhou has accused the gang of quickly converting the proceeds into cryptocurrency and then laundering the money through on-chain transfers. Prosecutors warn that anyone claiming to be law enforcement and requesting transfers to so-called "safe accounts" is a scam, and parents should strengthen anti-fraud education for their children.

                                                                               BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.                     BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more