XREX CISO Leads DeFiHackLabs To Victory at SCAN 2024, the World's First Digital Asset Tracking Challenge

SEOUL, South Korea, Nov. 28, 2024 /PRNewswire/ -- DeFiHackLabs, a cutting-edge Web3 cybersecurity community backed by XREX Group and founded by its Chief Information Security Officer (CISO) Sun Huang, has taken first place at SCAN 2024, the world's first digital asset tracking competition. The high-stakes event, which took place on November 22 in Seoul, brought together top teams of law enforcement professionals and cybersecurity experts to solve complex digital asset crime scenarios.

DeFiHackLabs demonstrated their superior blockchain analytical skills and teamwork, ultimately emerging victorious after a grueling final with the runner-up team, KAIST GoN, and saw them take home the prize of 1 Bitcoin (BTC).

The SCAN 2024 finals featured 16 teams that advanced from two preliminary rounds. Members from the Brazilian Federal Police, the Korean National Police Agency, and Taiwan's Criminal Investigation Bureau joined other cybersecurity experts and enthusiasts in tackling scenarios based on real-world issues such as cryptocurrency scams, money laundering, and financial crimes using mixing tools like Tornado Cash. The event tested participants' ability to trace illicit financial transactions and uncover hidden digital assets using advanced forensic techniques.

"Participating in SCAN 2024 was a unique and exciting challenge for us," said Sun Huang, the founder of DeFiHackLabs and CISO of XREX. "As cybersecurity professionals, we have participated in Capture The Flag (CTF) challenges before, but this is the first time we've competed in a challenge focused specifically on tracking digital assets. Winning SCAN 2024 is a significant achievement for our community, and it reflects the hard work XREX and DeFiHackLabs put into understanding and combating the emerging threats in the digital asset space."

According to blockchain intelligence company TRM Labs, hackers had stolen more than $1.38 billion worth of crypto in the first half of 2024, compared with $657 million in the same period in 2023.

Wayne Huang, Co-founder and Group CEO of XREX, emphasized the importance of the industry's commitment to advancing digital asset security. "The digital asset space is rapidly evolving, and with that growth comes new threats. At XREX, cybersecurity has been in our DNA since Day 1, and we are proud to support Sun in leading the charge in building a global Web3 cybersecurity community with DeFiHackLabs. XREX will continue to drive innovation and security solutions for the digital economy."

SCAN 2024 was organized to enhance cybersecurity and investigative capabilities related to digital assets. Digital asset information company DAsset co-hosted the challenge with cybersecurity firm Theori (ChainLight), and the Digital Asset Policy Forum.

Juno Im, Head of the CTF challenge committee, commented, "I believe DeFiHackLabs' expertise and leadership in the Web3 security community were key to their success in winning the SCAN CTF 2024 final. Their impressive performance in solving the challenges as intended is commendable. Congratulations on a well-deserved victory, and I look forward to their continued contributions to Web3 security."

DeFiHackLabs is a cybersecurity community founded by Sun Huang, CISO of XREX, and a prominent member in the field of digital asset tracking and forensics. With a focus on blockchain security, DeFiHackLabs provides its community members with tools and resources for building better Web3 products. Their DeFi hack analysis continuously keeps track of major security incidents in the Web3 industry, helping developers learn and avoid security flaws. DeFiHackLabs boasts a community size of more than 4000 members and 292 white-hat hackers worldwide.

XREX Group is a blockchain-enabled financial institution working with banks, regulators, and users to redefine banking together. We provide services to businesses in or dealing with emerging markets, and novice-friendly financial services to individuals worldwide.

Founded in 2018, XREX offers a full suite of services such as digital asset custody, wallet, cross-border payment, fiat-crypto conversion, cryptocurrency exchange, asset management, and fiat currency on-off ramps.

Sharing the social responsibility of financial inclusion, XREX leverages blockchain technologies to further financial participation, access, and education.

XREX Singapore operates under the Major Payments Institution (MPI) license issued by the Monetary Authority of Singapore (MAS). XREX Taiwan completed its Compliance Statements on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) with Taiwan's Financial Supervisory Commission (FSC) in March 2022 and is a regulated VASP.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

XREX CISO Leads DeFiHackLabs To Victory at SCAN 2024, the World's First Digital Asset Tracking Challenge

QINGDAO, China, Nov. 28, 2024 /PRNewswire/ -- On November 26, the China Hotel Overseas Investment Conference, hosted by Sunmei Hotels Group, was successfully held at Mövenpick by Accor Qingdao Sunmei. During the conference, Sunmei Hotels Group announced the establishment of its international business division—Sunmei Group International (SGI) and launched three overseas core brands: SHANKEE, PENRO, and LANOU, marking a new chapter in expanding overseas operations. Distinguished guests attending included Mr Budi Hansyah, Trade Attache of the Embassy of the Republic of Indonesia (KBRI Beijing), Mrs. Evita SANDA, Director of Indonesia Investment Promotion Center (IIPC) Beijing, and representative from Chamber of International Commerce of Kazakhstan.

After the establishment, SGI will focus on Indonesia as a key market. Ma Yingyao, Chairman and CEO of Sunmei Hotels Group, stated that the hospitality industry is the best fit for globalization. Indonesia, as one of Southeast Asia's most dynamic economies, offers strong tourism growth potential alongside population benefits, policy support, and an advantageous investment environment.

The World Travel & Tourism Council predicts Indonesia's international tourist expenditure will reach USD 19.1 billion by 2024, an increase of 12.3% year-on-year. Mordor Intelligence projects Indonesia's hotel real estate market to reach USD 1.84 billion by 2024, with a compound annual growth rate of 12.07% from 2024 to 2029.

Zhang Gang, SVP of Sunmei Hotels Group and CEO of SGI, stated that SGI focuses on five major cities in Indonesia: Jakarta, Surabaya, Bandung, Bali, and Yogyakarta. Indonesia's hotel industry is dominated by homestays and apartments, with a low chain rate for budget and mid-range hotels, highlighting growth potential for chain hotels. The company sees opportunities in mergers & acquisitions and brand co-creation for overseas operations, alongside traditional models like direct operations and franchising.

At present, SGI has established a dedicated office and development team in Indonesia, aiming to use it as a hub to expand into the Southeast Asian market. Brands such as SHANKEE and LANOU have signed and launched over twenty projects in eight countries, including Indonesia, Thailand, and the Philippines.

Building on over a decade of digital and intelligent operational experience, SGI strategically focuses on four core competencies: "smart marketing platform, smart site selection and development, modular renovation, and intelligent operations".

In operations, SGI empowers overseas hotels with a 57.63% guest contribution rate through the "Xinlimei" direct booking platform for hotel members; it uses big data and AI to precisely target prime locations; reduces construction time with modular renovation; and enhances service efficiency and quality through intelligent operation.

For users, Sunmei Hotels Group focuses on seamless check-in, smart spaces, and intelligent experiences, using room automation and smart robots to offer a next-generation smart accommodation experience globally.

Speaking about the overseas expansion plans for the next decade, The Group's Chairman and CEO Ma Yingyao stated: "We are committed to steadily opening 100 hotels that earn twice the revenue of the Chinese market, rigorously managing 1,000 outstanding and high-quality hotels, covering 30 countries, and establishing an international image for Chinese brands."

SGI will continue providing intelligent operational models and innovative service concepts to offer Indonesian consumers higher quality, convenient, and personalized lodging experiences, enhancing service standards in the hotel industry and driving local tourism growth.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Sunmei Hotels Group Expands into Indonesia, Pioneering Digital and Intelligent Operations in the Hotel Industry