Intellectia News

The feds have indicted Aleksei Andriunin, a 26-year-old Russian national and founder of Gotbit, on charges of wire fraud and conspiracy to commit market manipulation. Crypto News reports: According to the U.S. Attorney's Office, the indictment alleges that Andriunin and his firm participated in a long-running scheme to artificially boost trading volumes for various cryptocurrency companies, including some based in the United States, to make them appear more popular and increase their trading value. Andriunin allegedly led these activities between 2018 and 2024 as Gotbit's CEO. He could face up to 20 years in prison, additional fines, and asset forfeiture if convicted, according to the U.S. Attorney's Office. Prosecutors say the scheme involved "wash trading," where the firm used its software to make fake trades that inflated a cryptocurrency's trading volume. This practice, called market manipulation, can mislead investors by giving the impression that demand for a particular cryptocurrency is higher than it actually is. Wash trades are illegal in traditional finance and are considered fraudulent because they deceive investors and manipulate market behavior. Court documents also identify Gotbit's two directors, Fedor Kedrov and Qawi Jalili, as co-conspirators. The indictment claims Gotbit documented these activities in detailed records, tracking differences between genuine and artificial trading volumes. The firm allegedly pitched these services to prospective clients, explaining how Gotbit's tactics would bypass detection on public blockchains, where transactions are recorded transparently. The U.S. Department of Justice has announced that it seized over $25 million worth of cryptocurrency assets connected to these schemes and made four arrests across multiple firms. If you've been following the crypto industry, you're probably familiar with "pump-and-dump" schemes that have popped up throughout the years. Although it's a form of market manipulation, it's not quite the same as "wash trading." In a pump-and-dump scheme, the perpetrator artificially inflates the price of a security (often a low-priced or thinly traded stock) by spreading misleading or exaggerated information to attract other buyers, who then drive up the price. Once the price has risen due to increased demand, the manipulators "dump" their shares at the inflated price, selling to the new buyers and pocketing the profits. The price typically crashes after the dump, leaving unsuspecting investors with overvalued shares and significant losses. Wash trading, on the other hand, involves simultaneously buying and selling of the same asset to create the illusion of higher trading volume and activity. The purpose is to mislead other investors about the asset's liquidity and demand, often giving the impression that it is more popular or actively traded than it actually is. Wash trades usually occur without real changes in ownership or price movement, as the buyer and seller may even be the same person or entity. This tactic can manipulate prices indirectly by creating a perception of interest, but it does not involve a direct inflation followed by a sell-off, like a pump-and-dump scheme. Read more of this story at Slashdot.

An anonymous reader quotes a report from the Royal Navy: The Royal Navy has successfully demonstrated the capabilities of ground-breaking cold atom technology. P2000 vessel HMS Pursuer hosted the trial, which unlocks new possibilities in areas such as covert monitoring, which require precise signals for accurate positioning, navigation and timing. The Office of the Chief of Technology Officer (OCTO) for the RN worked with UK quantum technology company Aquark Technologies. The trial involved the company's miniature cold atom systems, founded on Aquark's unique laser-cooling method, known as supemolasses. This method to generate cold atoms does not need an applied magnetic field, therefore reducing the size, weight, power consumption and cost of sensors. A cold atom is an atom that has been laser-cooled to extremely low temperatures, typically near absolute zero (-273.15C). At these temperatures, the thermal motion of atoms is very slow, allowing their quantum mechanical properties to be precisely controlled. Quantum Sensing is an advanced sensor technology that detects changes in motion, and electric and magnetic fields, by collecting data at the atomic level. Commander Matthew Steele, who heads up Future Technology for OCTO, said: "Quantum technologies being developed in the UK will offer an alternative Position, Navigation and Timing (PNT) capability necessary to operate effectively in GPS denied or degraded environments." "Over the next three years, the Navy seeks to accelerate the development of quantum technologies -- such as Aquarks -- through funding and sea trials, to secure the Royal Navy an opportunity to invest in a non-GPS-based PNT capability and to maintain its global operating advantage." Read more of this story at Slashdot.

Disney's recently formed Office of Technology Enablement will coordinate the company's exploration, adoption and use of artificial intelligence, AR and VR tech. Engadget reports: It has tapped Jamie Voris, previously the CTO of its Studios Technology division, to oversee the effort. Before joining Disney in 2010, Voris was the chief technology officer at the National Football League. More recently, he led the development of the company's Apple Vision Pro app. Voris will report to Alan Bergman, the co-chairman of Disney Entertainment. Reuters reports the company eventually plans to grow the group to about 100 employees. "The pace and scope of advances in AI and XR are profound and will continue to impact consumer experiences, creative endeavors, and our business for years to come -- making it critical that Disney explore the exciting opportunities and navigate the potential risks," Bergman wrote in an email Disney shared with Engadget. "The creation of this new group underscores our dedication to doing that and to being a positive force in shaping responsible use and best practices." A Disney spokesperson told Engadget the Office of Technology Enablement won't take over any existing AI and XR projects at the company. Instead, it will support Disney's other teams, many of which are already working on products that involve those technologies, to ensure their work fits into the company's broader strategic goals. "It is about bringing added focus, alignment, and velocity to those efforts, and about reinforcing our commitment being a positive force in shaping responsible use and best practices," the spokesperson said. Read more of this story at Slashdot.

The Biden administration is investing $825 million in a new semiconductor research and development facility in Albany, New York. Reuters reports: The New York facility will be expected to drive innovation in EUV technology, a complex process necessary to make semiconductors, the U.S. Department of Commerce and Natcast, operator of the National Semiconductor Technology Center (NTSC) said. The launch of the facility "represents a key milestone in ensuring the United States remains a global leader in innovation and semiconductor research and development," Commerce Secretary Gina Raimondo said. From the U.S. Department of Commerce press release: EUV Lithography is essential for manufacturing smaller, faster, and more efficient microchips. As the semiconductor industry pushes the limits of Moore's Law, EUV lithography has emerged as a critical technology to enable the high-volume production of transistors beyond 7nm, previously unattainable. As the NSTC develops capabilities and programs, access to EUV lithography R&D is essential to meet its three primary goals 1) extend U.S. technology leadership, 2) reduce the time and cost to prototype, and 3) build and sustain a semiconductor workforce ecosystem. Read more of this story at Slashdot.