Alibaba and China Telecom are moving ahead with a new data centre project in southern China, powered entirely by the e-commerce giant’s in-house AI chips, as Beijing steps up efforts to build domestic computing infrastructure.

The facility, unveiled on Tuesday, will be equipped with 10,000 of Alibaba’s Zhenwu semiconductors, designed for both AI training and inference. The system is capable of supporting models with hundreds of billions of parameters, placing it among the most advanced computing setups currently in operation.

Deployed at a data centre in Shaoguan, Guangdong province, the cluster is described as a “fully domestic” project and represents the first Zhenwu-powered system of this scale in the Greater Bay Area. Alibaba said the chips can operate as a unified system, enabling the cluster to function like a single supercomputer with ultra-low latency of around four microseconds.

The rollout highlights how China’s leading technology firms are accelerating development of proprietary AI chips and infrastructure as the country pushes for self-reliance in critical technologies.

In recent years, Washington has tightened restrictions on China’s access to advanced semiconductor technologies, including AI chips produced by Nvidia. The curbs have prompted Chinese firms to speed up the development of local alternatives across both hardware and infrastructure.

Alibaba Group Holding has been advancing its chip ambitions through its T-Head semiconductor unit, while continuing to expand its position in cloud computing. The company now operates across the full AI stack, from chip design to data centre construction and model development, with services delivered through its cloud division.

Cloud computing has remained one of Alibaba’s fastest-growing segments in recent quarters, supported by rising demand for AI workloads. Across China, investment in large-scale data centres using domestic technologies has picked up pace.

A similar project went online last month in Shenzhen, where a 10,000-card cluster built on Huawei’s Ascend 910C chips began operations, signalling a coordinated effort among Chinese firms to scale local computing power.

Unlike their U.S. counterparts, companies such as Meta and Microsoft, which are expected to collectively spend hundreds of billions of dollars on AI infrastructure this year, Chinese players have taken a more targeted approach. Investment has focused on sectors expected to generate measurable returns, including industrial applications and enterprise services.

Scaling AI infrastructure for real-world deployment

The Zhenwu-powered cluster adds to growing evidence that China is shifting from experimentation to large-scale deployment of AI systems. Demand for computing power continues to rise as industries integrate AI into production and services.

According to Charlie Zheng, chief economist at Samoyed Cloud Technology Group Holdings, the rollout of domestic clusters signals a transition from “hardware replacement” to “software collaboration” across China’s AI sector.

He noted that adoption has been fastest in government services and urban governance, where requirements around data sovereignty and system security remain particularly strict.

“The sector’s rigid demand for data sovereignty and security has driven the fastest deployment,” Zheng said.

Alibaba stated that the cluster delivers around 30% higher efficiency in training and inference tasks, while single-card throughput has increased nearly tenfold. The system has already been deployed in areas such as healthcare and advanced manufacturing.

Access to the cluster is being extended to small and medium-sized enterprises through China Telecom’s platform, with usage priced on a per-card or hourly basis.

Looking ahead, Alibaba plans to expand the system to 100,000 chips, a move expected to reduce costs further and improve overall resource utilisation as demand for large-scale AI computing continues to build.

TLDR:

• Crypto scams reached a record $11.36B in 2025, marking a 22% rise from the previous year’s total.
  
• Americans over 60 lost $7.7 billion to cybercrime in 2025, a 37% increase compared to last year.
  
• AI deepfake and voice cloning scams stole an estimated $893 million from US victims during 2025.
  
• FBI’s Operation Level Up identified 8,000 victims and blocked over $500 million in further losses.

Crypto scams reached a record $11.36 billion in losses across the United States in 2025. The Federal Bureau of Investigation released its annual Internet Crime Report, confirming a 22% jump from the previous year.

Total cybercrime losses crossed $20.9 billion, also setting a new record high. The FBI logged over one million total complaints, averaging roughly 3,000 reports per day throughout the year.

Investment Scams and Senior Losses Drive Record Numbers

Crypto investment scams alone accounted for $7.2 billion of the total losses recorded in 2025. That figure represents the single largest share of all cryptocurrency-related fraud documented by the FBI. Overall, 181,565 crypto-related complaints were submitted to the agency during the reporting period.

Senior citizens continued to bear a disproportionate share of the financial damage. Americans over the age of 60 lost a combined $7.7 billion to cybercrime, marking a 37% increase year-over-year.

This age group remains the most frequently targeted demographic across all reported online fraud categories. The steep rise in losses among older Americans points to the growing reach of these criminal networks.

AI-powered fraud also emerged as a rapidly growing threat within the report. Deepfake technology and voice cloning tools were used to steal approximately $893 million from victims last year.

These tools give criminals the ability to impersonate trusted individuals using convincing audio and video. The use of such technology adds a new layer of difficulty for victims trying to detect fraud.

The breadth of these numbers reflects how fraud tactics continue to outpace public awareness in the crypto space. As digital asset adoption expands globally, criminal networks are scaling their operations accordingly.

Authorities continue to stress that reporting fraud promptly through IC3.gov remains a critical step in recovery efforts.

Pig Butchering Operations and the FBI’s Countermeasures

Most crypto investment scams traced back to organized crime groups operating out of Southeast Asia. These groups run large-scale schemes commonly referred to as pig butchering operations. Criminals spend weeks or months building genuine-seeming trust with targets before executing the fraud.

Initial contact is typically made through social media platforms, dating apps, and messaging services like Telegram.

Once a relationship is established, victims are directed to fake investment platforms displaying fabricated profits. When those victims eventually attempt to withdraw their funds, the money has already disappeared.

In response, the FBI launched Operation Level Up to directly address these types of investment scams. The operation has already identified more than 8,000 potential victims and prevented over $500 million in further losses.

This approach represents a more proactive stance from the agency in tackling crypto-related crime.

The FBI urges the public to treat all unsolicited investment messages with caution and skepticism. No legitimate platform or trader asks users to send cryptocurrency to an unverified wallet address. Victims and witnesses of suspected fraud are encouraged to file a report directly at IC3.gov.

Bybit blocked coordinated fake deposit attacks across multiple blockchains, saving over $1 billion in potential DOT losses. The exchange confirmed that no user funds were affected, as its monitoring systems identified and neutralized the threats in real time.

Advanced Attacks Target Deposit Systems

Bybit reported that attackers used complex transaction methods to simulate fake deposits. These methods targeted how exchanges track and confirm incoming funds. The attacks were carried out across several blockchain networks.

One method involved batch transactions. Attackers grouped multiple transfers into one operation. A large transfer failed, while smaller ones succeeded. Some systems may treat the full batch as successful.

Another method used multi-step transactions. Attackers changed ownership within the process. This created the appearance of incoming funds. However, there was no real balance increase.

These tactics are designed to trick systems that rely on logs. They do not always reflect actual asset movement. Bybit stated that its systems avoided this issue by verifying real balances.

The exchange confirmed that all attempts were stopped in real time. No incorrect credits were issued. Users were not affected at any stage of the attacks.

Sources: Bybit Debuts Yield Generating Tokenized and Bybit Ramps Up Middle East.

Multi-Layer System Enables Real-Time Detection

Bybit uses a multi-layer validation system to monitor deposits. This system checks transactions at different levels. It ensures that only real asset movements are recorded.

The first stage provides full on-chain visibility. Bybit scans blockchain data across supported networks, including complex and failed transactions.

The second stage filters transactions. It matches them with user deposit addresses. It also tracks related account structures.

The third stage focuses on validation. Each transaction is broken into smaller parts. These parts are verified independently. The system checks execution outcomes and transfer methods.

It also tracks ownership changes. This is important for networks like Solana. Balance checks confirm that assets have truly moved.

The final stage uses anomaly detection. Transactions are analyzed based on structure and risk. Alerts are triggered for unusual patterns.

David Zong, Head of Group Risk Control and Security at Bybit, said, “Our system validates transactions at every level of execution.” He added that each operation is verified independently.

Ongoing Security Measures Across Crypto Platforms

Fake deposit attacks have existed in the crypto industry for years. Earlier cases include the Mt. Gox exploit and the Silk Road bug. These incidents led to large Bitcoin losses.

The recent attacks show how methods have evolved. Attackers now adapt to modern blockchain designs. They use more complex transaction flows.

Bybit stated that its system is built to handle these changes. It focuses on transaction analysis and balance verification. Ownership tracking also plays a key role.

The exchange continues to improve its risk control systems. It aims to detect both known and new attack patterns. Real-time monitoring helps reduce risks across networks.

Bybit said its approach ensures that only valid deposits are credited. This reduces the chance of system manipulation. It also supports safer trading conditions for users.

The incident reflects ongoing efforts to secure crypto platforms. Exchanges continue to upgrade systems as attack methods change.

Zcash price shot up 25% on Wednesday, extending its monthly gains to over 60% as it continues to draw investor interest.

According to data from crypto.news, Zcash (ZEC) price rose to a three-month high of $330 on Wednesday, marking gains of around 62% over the past month.

Zcash price rallied as its shielded pools continue to draw more capital from investors. Data from the Zcash dashboard show that the total amount of ZEC tokens held in shielded pools hit an all-time high of $5.18 billion on April 8. At this point, the figure translates to 31.14% of the total circulating supply.

More ZEC tokens being moved into shielded pools means a larger base of ZEC holders is using the protocol’s core privacy features. This suggests investors are increasingly eyeing Zcash as a privacy sanctuary, especially as jurisdictions around the world tighten their regulatory grip on digital asset surveillance.

The privacy token has also benefited from the broader crypto market recovery fueled by reports of a ceasefire between the U.S. and Iran.

Investors flocked back to the market as Zcash became a standout recovery play, having been one of the primary underperformers leading into April 2026.

On the daily chart, Zcash price has broken out from the upper trendline of a descending triangle pattern that has formed since December 2025. A breakout from such a bearish pattern suggests that bulls have managed to finally reclaim control over the market and are likely steering it into a new bullish phase.

The Supertrend indicator has turned green, a sign that the prevailing trend has shifted in favor of the buyers. Also, the MACD lines have moved past the zero line and are trending upwards, which means buying momentum significantly outweighs the selling pressure. This often occurs as a cooling period before a token’s next leg higher.

At the time of writing, Zcash price was testing the 38.2% Fibonacci retracement level at $332. Above this, the 50% retracement level at $375 lies as the next key resistance level. A breakout from these levels back-to-back could fling ZEC price above the $400 psychological resistance level.

On the contrary, if Zcash price falls below the $278 support level, it could slip back towards the $190 region where it has consolidated in past sessions.

Bitcoin (BTC) staged a relief rally during Monday’s New York session, climbing to the mid-70,000s as oil prices retreated below $100 per barrel in the wake of a two-week ceasefire between the United States and Iran. BTC briefly touched about $72,760, rebounding from a dip that had stretched across the prior weeks, and traders cautioned that the momentum would need a decisive extension beyond key resistance to confirm a trend change.

Key takeaways:

• BTC surged roughly 7% to around $72,700 after news of a two-week U.S.–Iran ceasefire, signaling a temporary easing of geopolitical risk appetite.
• In the last 24 hours, roughly $431 million in short positions were liquidated across the crypto market, with BTC shorts accounting for about $214.8 million.
• Analysts warn that a sustained move higher requires a break above the $72,000–$76,000 zone; failure to clear that region could see risk-off pressure resume.
• Oil volatility accompanied the move, with WTI retreating from intraday highs around $110–$118 to the mid-$90s as the ceasefire news circulated.

Bitcoin’s rebound amid ceasefire signals

Data from market tracking and live feeds show BTC rising as much as 7.4% to approximately $72,760, erasing earlier losses that had persisted over the previous two weeks. The rebound followed President Donald Trump’s confirmation of a two-week pause in hostilities with Iran, a ceasefire conditionally linked to the “complete, immediate, and safe opening” of the Strait of Hormuz. Traders noted that geopolitics can move crypto markets swiftly, sometimes eclipsing traditional technical signals in the near term.

Despite the bounce, observers emphasized that the immediate macro backdrop remains delicate. The ceasefire is contingent on ongoing diplomacy, and any regression or stalled talks could reintroduce risk premia into crypto markets. Analyst commentary cited in market updates suggested that while the relief rally is meaningful, it does not guarantee a long-term trend reversal without sustained catalysts and a breach of key price levels.

Liquidity backdrop and macro drivers

Liquidation data painted a mixed picture of risk dynamics. In the past 24 hours, total liquidations across the crypto market reached about $431 million, with BTC short liquidations contributing roughly half of that sum at around $214.8 million. The broader market’s tilt toward short-covering helped buoy prices in the near term but did little to alter the underlying multi-week consolidation already underway.

The price move came as crude oil swung violently on the ceasefire news. Oil futures initially spiked above the $110–$118 per barrel range in response to regional tensions, but then reversed sharply, dropping as much as 16% to around $92 from an intraday high. WTI crude traded around the mid-$90s during the session, illustrating how commodity markets still interact with crypto as a proxy for macro risk sentiment.

Technical view: range, resistance, and what to watch

From a technical standpoint, the current setup remains fragile for bulls, according to market observers. A number of traders highlighted a potential bearish flag pattern on the daily chart, suggesting that upside momentum could be capped unless BTC clears the upper boundary of the immediate resistance zone. In practice, the line in the sand sits near $76,000; a decisive close above that level could reintroduce bullish momentum toward higher targets. Conversely, rejection at or near the upper boundary could invite renewed downside pressure toward the next significant support areas.

Analysts emphasized that the real test lies in the follow-through. One trader noted that even with the relief rally, “the bear-flag scenario remains a live risk until sustained footing is established above the key resistance.” Another market observer pointed out that a successful upside extension beyond $76,000 could open a path toward the high-$80,000s or low-$90,000s, while a rejection from that zone could pave the way for a renewed move toward the $60,000s region if macro catalysts turn unfavorable.

The ongoing narrative also points to a broader market context. As Cointelegraph coverage has indicated, BTC has shown a tendency to oscillate between fear and relief around pivotal macro events, with on-chain signals and liquidity dynamics feeding into the price action. The coming weeks, including key data prints and policy signals, will likely determine whether the current rebound stalls in a choppy range or evolves into a more durable uptrend.

What readers should watch next

Investors should keep an eye on several developing factors. First, the durability of the ceasefire and any tangible diplomatic progress during upcoming talks will be a clear influencer of risk appetite. Second, macro catalysts—such as the release of Fed minutes and upcoming consumer price index data—could reintroduce volatility and test the resilience of BTC’s rebound. Finally, watch for price action around the $72,000–$76,000 zone: a clear, sustained break above that band would be a meaningful sign for bulls, while a rejection could invite renewed downside pressure toward established long-term support levels.

In the near term, traders appear divided on whether the relief rally can be converted into a longer-lasting trend. The unanswered question remains: will geopolitical news continue to shape crypto markets with the same immediacy, or will domestic macro triggers begin to dominate price action as the week progresses?

South Korea’s financial regulators have ordered all domestic crypto exchanges to adopt a single, strict system for delaying withdrawals, aiming to block a surge in voice phishing scams that rely on speed.

The Financial Services Commission and Financial Supervisory Service announced the new rules, removing the discretion exchanges once had to let users bypass holding periods, local news outlets report.

In the past, platforms set their own exceptions to keep trading fast. Fraud groups learned those rules and coached victims to slip through them.

Voice phishing scams often push victims to convert cash into crypto and send it out within minutes. A delay, even a short one, can interrupt the scam by giving victims time to reconsider or allow alerts to surface before funds leave an account.

Under the new system, exchanges must apply the same criteria when reviewing withdrawal exceptions. These include account history, transaction patterns and sudden changes in behavior. Officials expect fewer than 1% of users will qualify for instant withdrawals. Platforms must also tighten identity checks and monitor fund flows more closely.

The move marks a shift from industry-led safeguards to a national standard.

In other markets such as the U.S. and Europe, withdrawal holds are common but set by individual firms. Some exchanges even let users set their own timelocks to prevent unwanted withdrawals.

The South Korean regulators did not immediately respond to CoinDesk’s request for further comment.

Key Highlights

• Alibaba partnered with China Telecom to unveil a 10,000-chip AI computing facility in Shaoguan, Guangdong, utilizing Alibaba’s proprietary Zhenwu processor technology.
• This facility represents the first large-scale deployment of Zhenwu chips in China’s Greater Bay Area, capable of handling AI model training with parameters reaching hundreds of billions.
• Performance metrics show 30% improved training and inference efficiency, with individual card throughput jumping nearly tenfold compared to earlier technology.
• Expansion plans call for scaling the facility to 100,000 chips, while smaller enterprises can access computing resources through China Telecom’s service platform.
• This deployment comes after a comparable 10,000-chip Huawei Ascend 910C facility began operations in Shenzhen the previous month.

Alibaba (BABA) and China Telecom have unveiled a massive AI computing facility featuring 10,000 chips in Shaoguan, located in Guangdong province. The infrastructure relies exclusively on Alibaba’s proprietary Zhenwu AI processors, which were engineered by the company’s T-Head semiconductor division.

Alibaba Group Holding Limited, BABA

This unveiling represents a milestone as the largest Zhenwu chip deployment to date within the Greater Bay Area region. According to Alibaba Cloud, this initiative signals a transition in China’s AI computing landscape “from achieving high-end performance milestones to widespread industrial adoption.”

The facility employs an advanced high-performance networking framework that enables all 10,000 processors to function as a unified supercomputing system. Alibaba reports this configuration achieves 30% greater training and inference efficiency, while individual card throughput shows nearly a tenfold improvement over previous-generation systems.

The infrastructure supports training for AI models containing hundreds of billions of parameters — positioning it alongside the most sophisticated AI development projects worldwide.

The system maintains a latency level of 4 microseconds, which Alibaba credits to the sophisticated networking framework connecting the processors. This metric is critical for enterprise AI applications where rapid response times are essential.

Beijing’s Drive Toward Indigenous AI Computing Infrastructure

This launch aligns with a comprehensive national initiative. Beijing incorporated intelligent computing infrastructure into its 15th five-year strategic plan last month, while an AI action blueprint from the State Council issued in August emphasized optimized expansion of computing capabilities nationwide.

By the conclusion of June last year, China’s aggregate computing capacity reached 962,000 petaflops — representing 21% of global capacity, marking a 73% year-over-year increase, based on data from the China Academy of Information and Communications Technology.

The Shaoguan facility has already been implemented in healthcare and advanced manufacturing applications. Small and medium-sized enterprises can obtain computing access via China Telecom’s platform, with flexible pricing options based on card usage or hourly rates.

Alibaba has also revealed intentions to expand the facility from 10,000 to 100,000 chips. This expansion strategy targets cost reduction and enhanced resource utilization.

Industry Context: Huawei and China’s Semiconductor Competition

This announcement follows a comparable achievement from the previous month, when China’s inaugural 10,000-card intelligent computing facility — utilizing Huawei’s Ascend 910C processors — commenced operations in Shenzhen.

That facility delivers 11,000 petaflops of computing power and has been integrated with another 3,000-petaflop facility activated in 2024. Shanghai is simultaneously developing a 10,000-card facility through an INESA state-owned subsidiary, designed for compatibility with various domestic processor architectures.

While Chinese processors continue to lag behind Nvidia in individual performance metrics, Beijing’s approach emphasizes large-scale cluster infrastructure and optimized networking to narrow the performance differential.

U.S. export controls on Nvidia processors have expedited China’s domestic semiconductor development trajectory. Alibaba’s T-Head division has played a pivotal role in this effort, alongside Huawei.

BABA shares advanced 7.79% on the announcement day, with after-hours trading adding another 0.82% to its Hong Kong-listed shares (728-HK).

• Solana price has gained in the past 24 hours as Bitcoin retests $72,000.
• The SOL token could rally to $150 amid the US-Iran ceasefire.
• However, continued weakness could allow bears to target $70 or lower.

​Solana’s latest rebound has revived bullish speculation, with decent gains aligning with an uptick for risk asset markets.

As traders digest the impact of easing geopolitical tensions amid the ceasefire between the US and Iran, the key question is whether a shift in sentiment could propel Solana to its year-to-date highs of $150.

​Solana eyes $90 as geopolitical risk cools

As noted, the broader cryptocurrency market pushed higher overnight Tuesday after US President Donald Trump announced a two‑week ceasefire deal with Iran.

The news has eased fears of a deeper regional conflict, with the Pakistan‑brokered talks coming ahead of a 48‑hour deadline set by Washington.

Stocks and cryptocurrencies rose as risk sentiment changed from defensive positioning to an aggressive hunt for upside exposure.

The sharp gains saw more than $425 million in short positions liquidated in the past 24 hours, with over $100 billion added to the global crypto market capitalization.

​Bitcoin edged above the $72,000 mark, and Ethereum climbed to $2,270, boosting altcoins as traders rotated capital back into major tokens and high‑beta plays. Solana’s upswing had SOL advancing to above $86.

The move toward $90 erases part of last week’s drawdown that followed the Drift Protocol exploit.

​SOL price analysis

While SOL’s percentage gains pale in comparison to intraday moves of Zcash, Bittensor, and LayerZero, the uptick was still significant from a market‑structure point of view.

The recovery helped re‑establish a higher trading range, suggesting that the worst of the exploit‑driven capitulation may be over if the ceasefire holds and broader crypto inflows continue.

​On the charts, SOL has recently been shadowed by a developing bear flag formation.

The classic chart pattern usually signals downside continuation if a clean break occurs, and its formation had bears threatening a drop back toward the $70 region.

​The bounce to near $90 is crucial even as the bearish structure remains.

If bulls can consistently defend the $80-$85 band and convert the area into a solid demand zone, the next immediate resistance is likely to emerge around $95-$100.

This is where prior supply and key moving averages converge, and a breakout could pave the way for a higher resistance cluster in the $120-$135 zone.

Bulls can target January 2026 highs near $150.

However, if buyers fail to break and hold above the $90 level, the technical backdrop would increasingly favor an extension of the downtrend.

This outlook exposes SOL to renewed downside pressure toward $70, with critical support near $54.