Welcome back to Continuum Risk Update. Every Friday we pull the top Asia headlines on digital-asset regulation, cyber risk, industry moves and insurance signals, with concise takeaways and practical actions for insurers and corporate risk teams.
📋 Regulatory
Singapore’s MAS added Hyperliquid to its Investor Alert List, joining Bybit, KuCoin and Bitget, as the regulator signals it will flag major unlicensed DeFi platforms by name regardless of their size or TVL.
https://bit.ly/4wIKADh
South Korea’s PIPC fined Bithumb $136K for sharing user data with 13 overseas exchanges without consent, in a case that asks whether crypto platforms truly know where their data flows once it leaves their systems.
https://bit.ly/4vfboK6
💻 Hacking & Physical Risks
ShinyHunters published 3.1TB of stolen insurance regulator data after NAIC refused to pay, confirming a shift to data-theft-only extortion where paying removes nothing and published data stays in circulation permanently.
https://bit.ly/4497My8
A third-party vendor compromise injected a malicious script into Polymarket’s frontend and drained $2.9M from at least 11 wallets, the 89th Q2 exploit and a direct case for vendor risk clauses in crypto cyber cover.
https://bit.ly/4p1hQTe
🏭 Industry & Markets
SBI Holdings signed a $289M deal for Bitbank and launched two stablecoins in Japan in the same week, building out the most integrated crypto, stablecoin and tokenisation ecosystem yet seen from a major Asian financial conglomerate.
https://bit.ly/4vMca2j
ZachXBT flagged AscendEX’s hot wallets as holding minimal major-crypto reserves after users reported withdrawals frozen since June 10, raising the same exchange counterparty questions the market faced before FTX.
https://bit.ly/4vEDQG5
🔍 Insurance Spotlight
Igloo acquired Singapore-headquartered Eazy Digital to deepen its embedded insurance distribution across Thailand and ASEAN, as the region’s insurtech consolidation moves into its next phase.
https://bit.ly/4v9bkva
TRM Labs traced $3.8B from 60 sanctioned Iranian entities through Hong Kong-based CoinEx, with the exchange’s illicit transaction share running at 8%, far above the 0.3% threshold at compliant platforms, underscoring the Crime cover exposure for digital asset businesses without robust sanctions screening.
https://bit.ly/4p5y4Ll
