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Apple faces a $2.7 billion class action lawsuit: accused of unfair application tracking rules against third-party developers, gaining improper advantages in its own advertising ecosystem

According to a report by Reuters, Apple Inc. is facing a class-action lawsuit in London, with claims amounting to £2 billion (approximately $2.7 billion). The lawsuit was filed today in the London Competition Appeal Tribunal by Ann Pope, a former senior official of the UK's Competition and Markets Authority, representing app developers.The core allegation is that Apple's "App Tracking Transparency" (ATT) feature, launched in 2021, imposes stricter restrictions on third-party developers than on its own services, giving Apple's own advertising ecosystem an unfair competitive advantage. Ann Pope stated that Apple's policies "have caused very significant harm to businesses that rely on Apple as a gatekeeper."Since its launch, the ATT feature has been a focal point of concern for global regulators for several years. Apple's official stance is that the feature is designed to allow users to control whether to permit apps to track their activities across other companies and websites.However, the plaintiffs argue that the actual enforcement of this rule has a double standard—tracking requests from third-party apps require strict pop-up authorization, while Apple's own personalized ads and services can bypass the same restrictions. This lawsuit represents the latest legal challenge Apple faces regarding its ATT policy and is the first large-scale private antitrust lawsuit initiated in the UK market against Apple's app ecosystem rules following scrutiny from regulators in the EU, the US, and several other countries.

SafePal updates on security incident progress: launching anti-phishing actions and will commission a third-party agency to review the order system

The cryptocurrency wallet project SafePal has released updates on the security incident, stating that it is continuously tracking phishing websites and impersonation accounts, and plans to introduce a professional anti-phishing security company to expedite the removal of malicious information to protect user asset security. SafePal mentioned that it is currently in the final selection process among four professional anti-phishing security companies, and once a partner is selected, it will further enhance the efficiency of handling threats such as counterfeit websites and scam accounts.The team is also continuously monitoring whether the affected data has been sold or made public, including channels such as dark web forums and trading markets. Once signs of data leakage are detected, affected users will receive risk alerts immediately. Regarding security audits, SafePal stated that it is in the final selection among three mature independent security institutions, which will conduct a comprehensive security review of the order system. Meanwhile, the team is reassessing the order and logistics processes to reduce the amount of data that needs to be stored in the initial phase of the system, thereby reducing potential risks from the source.For affected users, SafePal stated that it will continue to provide one-on-one assistance through official support channels and will keep updating the fraud protection page, providing updates on the incident, FAQs, and analysis of fraud cases. SafePal once again reminds users: the official will never ask users to provide their seed phrase. Users should not disclose their seed phrase to anyone, should not scan unknown QR codes or click on suspicious links, and should verify the source of information through official channels.

The American Securities Transfer Association wrote to the SEC: Third-party tokenized stocks pose risks and should prioritize the issuer authorization model

According to CoinDesk, as the competition for tokenization in the capital markets heats up, the Securities Transfer Association (STA) recently submitted a letter of opinion to the U.S. Securities and Exchange Commission (SEC), warning that stock tokens issued by third-party organizations may undermine market integrity and calling on regulators to prioritize support for tokenized securities authorized by publicly listed companies in future rule-making.The STA represents several Wall Street transfer agents, whose members believe that true tokenized stocks should be formally authorized by the issuing company and recorded in the official shareholder register, rather than created as "packaged" token products by independent platforms.The association pointed out that third-party stock tokens may confuse investors about the actual rights they hold and expose them to risks related to platform credit, custody, and operations, without establishing a direct legal relationship with the publicly listed company. Therefore, any innovative exemptions, pilot projects, or permanent regulatory frameworks for tokenized securities should prioritize the issuer-supported model.The STA also urged the SEC to reform the existing Direct Registration System (DRS), arguing that the current U.S. securities custody system is inadequate to meet the real-time transfer and settlement needs of on-chain securities, and suggested that regulators collaborate with the Depository Trust & Clearing Corporation (DTCC) to optimize the digital securities infrastructure.Currently, the global market for tokenized stocks, valued at approximately $2 billion, is primarily dominated by third-party models, including products launched by Ondo Finance and Kraken, while organizations like Securitize and Figure adopt the issuer authorization model.

Axelar responds to security incident: Axelar and IBC are unaffected, the vulnerability originates from a third-party token contract's "infinite minting" issue

The cross-chain protocol Axelar Network released a statement regarding the recent security incident related to Secret Network, stating that there is a misunderstanding within the community about the event. Both Axelar and the Inter-Blockchain Communication Protocol (IBC) were not attacked or compromised. The affected token smart contracts were neither developed, deployed, nor maintained by Axelar, and Axelar's firewall mechanism also prevented the impact from spreading to other chains.It is reported that the exploited contract is a forked version based on CW20-ICS20, but the developers removed two core security checks, resulting in an "infinite minting" vulnerability. By deleting the verification mechanisms originally used to prevent such issues, this fork altered the original trust model of the contract and did not undergo a new security audit.Axelar Network explained that anyone can deploy contracts for cross-chain asset wrapping through IBC, and similar contracts have also been used to wrap tokens from other chains into Secret Network. However, the Secret side fork version in this incident has vulnerabilities due to the removal of key security checks. This incident is not a unique logical flaw, nor is it an issue with the IBC protocol itself, but rather a security risk introduced by modifications to third-party contracts.
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