Best photos of June 19: An airstrike in Israel to growing proteas in South Africa
Bitcoin is the most popular virtual currency in the world. It was created in 2009 as a new way of paying for things that would not be subject to central banks that are capable of devaluing currency. A Bitcoin itself is essentially a line of computer code. It's signed digitally when it goes from one owner to another. There are sustainability concerns around the cryptocurrency, which stem from the process of "mining" that is central to its existence.
The "miners" use computers to make complex calculations that verify transactions in Bitcoin. This uses a tremendous amount of energy via computers and server farms all over the world, which has given rise to concerns about the amount of fossil fuel-dependent electricity used to power the computers.
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Arabian Post
41 minutes ago
- Arabian Post
Predatory Sparrow Claims Wipeout of $90 Million in Nobitex Hack
Hackers claiming affiliation with Predatory Sparrow, possibly linked to Israel, have executed a cyber‑strike against Nobitex, Iran's leading cryptocurrency exchange, erasing approximately $90 million worth of digital assets. The assault began in the early hours of 18 June 2025, when the group transferred diverse cryptocurrencies—including Bitcoin, Ethereum and Dogecoin—into vanishing crypto‑wallets designed without private keys, effectively 'burning' the funds to send a deliberate political message. Blockchain analytics firms, including Elliptic and TRM Labs, analysed the transactions and found the emptied addresses bore anti‑IRGC messages, confirming the operation was ideologically motivated rather than financially driven. Elliptic noted that the assets were moved into vanity addresses with embedded slogans denouncing the IRGC, and that the group leaking the funds would not retain the keys, ensuring permanent loss. Noble objective remains politically charged ADVERTISEMENT The group, using its Farsi‑named moniker Gonjeshke Darande—or 'Predatory Sparrow'—publicly accused Nobitex of facilitating Iran's sanctions evasion and funding militant groups, claiming the platform had enabled transactions for IRGC‑linked factions such as Hamas and Yemen's Houthis. Elliptic has traced past ties between Nobitex and IRGC‑affiliated actors, including sanctioned individuals like Amir Hossein Niakeen Ravari and Ahmad Khatibi Aghada. The hack comes amid heightened Israel‑Iran tensions. Reports indicate that Predatory Sparrow also targeted Iran's state‑owned Bank Sepah on 17 June, triggering widespread service disruption, including to ATMs and fuel stations. Analysts interpret these cyber‑operations as extensions of conventional military retaliations between the two nations. Nobitex disruptions raise alarm Nobitex admitted to unauthorised access affecting both its app and website, temporarily shutting services while conducting assessments. Public updates from the exchange have been sparse, and customer inquiries have reportedly gone unanswered. Plans to recover or rebuild lost assets remain unclear, raising concerns among its claimed user base of over 7 million. Despite accusations, Israel has not officially claimed responsibility. Media speculation within the country suggests government backing, but no formal confirmation has been issued. Predatory Sparrow, noted for previous impactful operations—from collapsing gas station networks in 2021 to prompting major fires at a steel mill in 2022—added this attack to its growing list of cyber engagements against Iranian infrastructure. Impact and implications for crypto ecosystem Cyber‑security analysts have labelled the hack 'particularly significant given the comparatively modest size of Iran's cryptocurrency market,' with Chainalysis intelligence chief Andrew Fierman underscoring the political overtones. The operation exemplifies how digital currencies and blockchain platforms are becoming tactical assets and vulnerabilities within geopolitical conflicts. U.S. legislators, including Senators Elizabeth Warren and Angus King, previously raised concerns over Nobitex's facilitation of sanctions avoidance, highlighting its role in enabling Iran's IRGC and related proxies to move financial resources. This attack may intensify scrutiny on crypto exchanges suspected of abetting questionable transactions in sanctioned jurisdictions. Decline of Iran's crypto defences Crypto adoption in Iran has long served as a hedge against economic instability, with citizens and state‑linked groups alike using digital currencies to escape inflationary pressures and circumvent banking restrictions. Nobitex, in particular, developed significant traction, drawing millions of users seeking alternative financial tools. However, analysts warn this sabotage could erode investor trust, disrupt public confidence in digital assets, and invite heightened regulatory oversight. Exchanges in politically sensitive regions may now face new security standards and sanctions compliance demands. A new frontier in cyber‑warfare This development underlines a shift where cyber‑warfare transcends state boundaries, now targeting third‑party financial networks with tangible consequences. By obliterating rather than stealing funds, Predatory Sparrow signalled that its operation aimed to disrupt Iran's crypto‑financing rather than profit from it. Officials tracking these patterns warn that similar tactics may emerge as cyber‑tools of statecraft evolve, affecting financial systems across volatile regions. Experts suggest exchanges handling high‑risk jurisdictions should shore up defences and improve transparency around asset provenance and network resilience. As Nobitex works to restore functionality, regulators, crypto stakeholders and intelligence services will closely examine the incident. The breach draws attention to the critical role of exchanges in global geopolitics, raising complex questions about neutrality, compliance and cybersecurity in an increasingly fraught digital economy.
Khaleej Times
2 hours ago
- Khaleej Times
Dubai is Quietly Building the Future of the Automotive Industry
When I first arrived in Dubai in 2008, the city was a place of bold contrasts. It was grappling with the fallout of the global financial crisis, yet there remained a quiet, determined confidence in its future. Even then, you could sense that Dubai wouldn't just recover — it would reimagine what recovery looked like. Today, that prediction has come true. Dubai has transformed into one of the world's most dynamic testbeds for mobility innovation. What was once a market focused on car ownership is now a launchpad for pioneering ideas in sustainability, digitalisation, and smart transport. This evolution isn't incidental — it's intentional, enabled by a city that's wired for vision and progress. Dubai's geographic location has long made it a global gateway. But what truly sets the city apart is its mindset: an unwavering belief in building the future before others dare to imagine it. The Roads and Transport Authority's plan to introduce air taxis by 2026 is a case in point. What may sound like science fiction elsewhere is already moving into operational planning here, converting a 45-minute commute into a 12-minute airborne journey. Beneath these headlines is a deeper reality: a regulatory and business ecosystem that supports ambition. Programmes like the Dubai Economic Agenda D33 and Vision 2030 aren't just slogans; they are action plans that prioritize diversification, sustainability, and the seamless integration of technology into everyday life. For the automotive sector, this means Dubai offers something rare — a real-world lab where electric, hydrogen, and autonomous mobility solutions can be trialled, refined, and scaled with minimal red tape. At AGMC, we've experienced this transformation firsthand. As the official importer for BMW, MINI, and Rolls-Royce in the region, we've seen electric vehicle (EV) adoption gain strong momentum — thanks to a blend of consumer enthusiasm, progressive regulation, and business commitment. Today, more than 47,000 green vehicles are registered in the emirate, with fully electric cars making up the majority. Still, the path forward has its challenges. EV infrastructure remains a work in progress. While many villa residents enjoy home charging, the next wave of growth depends on scaling solutions for apartments and urban clusters. The public sector is expanding its charging network, but accelerating adoption will require coordinated efforts across government, utility providers, automakers, and real estate developers. There are also questions around EV residual value. As the market matures, the secondary resale ecosystem will need time — and data — to develop. But Dubai's unique mix of early adopters and tech-forward consumers means we're generating insights faster than many more established markets. What inspires me most, though, is the human story behind the innovation. Dubai is a global talent magnet, bringing together engineers, designers, software developers, and strategists from across continents. It is this cross-pollination of perspectives that fuels meaningful progress — not just in what we build, but how we build it. From hydrogen-powered fleets to connected mobility ecosystems and AI-optimised traffic flows, the future of transport is not on the horizon — it's already taking shape. And while flying cars may remain in the realm of fantasy, Dubai's air taxis suggest we're closer than we think. Ultimately, Dubai teaches us a vital lesson: the future doesn't just arrive — it is built, deliberately and ambitiously. And there are few places in the world where that drive to build is more evident, or more effective, than here.
Zawya
3 hours ago
- Zawya
Iran adapts to maintain oil exports during conflict, trackers say
Iran is maintaining crude oil supply by loading tankers one at a time and moving floating oil storage much closer to China, two vessel tracking firms told Reuters, as the country seeks to keep a key source of revenue while under attack from Israel. The conflict between Iran and Israel which broke out last week poses a fresh hurdle for Iran, which uses a shadow fleet of tankers to conceal their origin and skirt U.S. sanctions reinstated in 2018 over its nuclear programme. Crude exports from Iran, OPEC's third-largest producer, mainly head to China. Loadings have so far been largely unaffected by the conflict with Israel, the trackers said. Iran has loaded 2.2 million barrels per day of crude oil so far this week, marking a five-week high, the latest data from analytics firm Kpler showed. Energy infrastructure in both countries has been targeted in missile exchanges between the two countries, including the Haifa oil refinery in Israel and Iran's South Pars gas field, though Iran's major crude exporting facility at Kharg island has so far been spared. All of the loadings from Kharg Island this week took place from the site's eastern jetty, said Homayoun Falakshai, head of crude oil analysis at tracking firm Kpler. Kharg Island is situated deep inside the Persian Gulf, some 30 km off the Middle Eastern nation's south west coast. "NIOC may believe it is less risky than the other main jetty located on the western side, in open waters," Falakshai said, referring to Iran's state oil firm National Iranian Oil Co. Large oil tankers are now approaching Kharg Island one at a time, leaving the second jetty on the western side of the island unused for several days, with 15-16 more Iranian tankers scattered across the wider Persian Gulf area. Iranian oil exports have been steady so far this year at around 1.7 million bpd, the International Energy Agency said on Tuesday, despite U.S. sanctions on Chinese customers since March. Iran has moved part of its 40 million barrel floating storage fleet, which sits on 36 different vessels, much closer to China to minimise the impact of any disrupions on buyers, ship tracking firm Vortexa told Reuters. Around ten tankers, carrying approximately 8 million barrels of Iranian crude, are now stationed directly offshore China, Vortexa said, moving from the Singapore area where a further 20 million barrels are located. The remaining 12 or so million barrels were in the Persian Gulf at the start of the month, Vortexa added, but their current location was not clear. Having floating storage allows tankers to load crude oil without an immediate fixed destination to head to. "Iran has been moving these barrels eastwards even without firm orders to strategically place the barrels closer to the end buyers in a time of heightened geopolitical risk," Vortexa's senior China market analyst Emma Li said Moving barrels closer to China would offset the impact of up to two weeks of disrupted Iranian loadings, Vortexa added. (Reporting by Robert Harvey, editing by Alex Lawler, Dmitry Zhdannikov and Elaine Hardcastle)
