Deputy Prime Minister of Malaysia has proposed using blockchain for identification purposes to prevent fraudulent activities with personal data.

Speaking at the Asia International Security Summit, the deputy minister said that organised crime groups have increasingly used new technologies, including artificial intelligence, to carry out attacks.

According to information provided by the Sumsub platform, the number of cases of identity fraud in Southeast Asia increased by 120% in 2024. Analysts recorded the most cases in Singapore, Thailand and Indonesia.

The official noted that some of the most common crimes in Malaysia were the use of fake IDs and passports, identity theft, and deepfakes. Based on this, the deputy minister proposed developing and implementing a national identity verification system based on blockchain.

He believes that blockchain technology will reduce the volume of identity fraud, which costs users billions of dollars every year.

The official called on the government, law enforcement agencies and industry leaders to move from discussions to concrete actions to create a special system on the blockchain.

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On January 27, the Ethereum Foundation sold 100 ETH for $309,893. This is the third sale of the foundation in 2025. Since the beginning of January, the non-profit organization got rid of 300 ETH for about $981,200. Currently, the foundation has 269,175 ETH on its balance sheet, which is valued at $817 million.

The Ethereum Foundation's sell-off has weighed on the leading altcoin, which has fallen more than 7% in the past 24 hours amid a broader market decline. ETH was trading just above $3,000 on the evening of January 27.

The Ethereum Foundation's sale comes amid challenges within the organization and the rise of competing blockchains like Solana . In response, Tron founder Justin Sun suggested that Ethereum developers focus on improving the user experience to attract developers and organizations. He also suggested using the foundation's assets and holding off on further ETH sales to stabilize the ecosystem.

It should be noted that the fees in the Tron network that exceed common sense may make Justin Sun think even more seriously and make further profound conclusions.

In response, the Ethereum Foundation announced plans to commit 50,000 ETH, equivalent to $165 million, to support its ecosystem. Ethereum co-founder Vitalik Buterin also promised reforms to increase transparency and improve developer support. However, he rejected calls for CEO Ai Miyaguchi to step down and condemned criticism of the foundation.

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