Crypto exchange

FTX to repay 98% of its users around 119% of their claim value

October 8, 2024 1 min read

In a significant development for the beleaguered crypto exchange FTX, a US judge has greenlit a bankruptcy plan that will allow the company to repay users nearly two years after its dramatic collapse. Judge John Dorsey of the US Bankruptcy Court for the District of Delaware approved the plan, which aims to return 98% of users’ claims, translating to approximately 119% of their claim value as of November 2022, when

Crypto exchange Kraken removes the Lightning Network feature for customers in Germany

September 16, 2024 1 min read

Kraken, a cryptocurrency exchange, has removed the Bitcoin Lightning Network service for its users in Germany owing to technical modifications. The suspension was initially ascribed to regulatory concerns by a Kraken support representative; however, a spokeswoman for the San Francisco-based firm emphasized that Kraken Support had erroneously identified these modifications as the cause for the suspension. The Lightning Network is a “second layer” application for Bitcoin that facilitates expedited transactions

Crypto exchange Bitstamp is gearing up to launch a new derivative exchange

September 16, 2024 1 min read

The cryptocurrency exchange known as Bitstamp, which is going to be acquired by the trading software known as Robinhood, intends to work closely with Ripple on this endeavor. A significant amount of attention is being paid by Bitstamp to the forthcoming derivatives exchange, as stated by Eva Gartner, who serves as the Head of Strategic Partnerships and Corporate Development respectively. Gartner underscored the excitement that is surrounding this initiative as

Indodax exchange loses $15 million in crypto to hackers

September 11, 2024 1 min read

Indonesian crypto exchange Indodax has incurred substantial financial losses up to $15 million due to a recent cyberattack. The site encountered a substantial capital outflow, amounting to around $15.7 million, distributed across other blockchain networks, such as Ethereum, Polygon, and Optimism. The misappropriated assets are currently stored in designated addresses throughout various networks, with Ethereum possessing approximately 5,204.3 ETH, Polygon holding 6,843,716.17 POL, and Optimism containing over 380 ETH. SpotonChain

This crypto exchange loses over $10 million to hackers

January 30, 2024 1 min read

Over the weekend, SOMESING, a popular South Korean karaoke service, was hacked, resulting in the theft of hundreds of millions of SSX tokens. Following the incident, several South Korean crypto exchanges, including Upbit, Bithumb, and Coinone, have issued warnings to users and taken immediate steps to reduce potential investor risks. On January 29, Upbit, South Korea’s largest crypto exchange, issued a press release informing users of the SSX token hack

Dubai cancels FTX MENA’s license following the collapse of the crypto exchange

November 24, 2022 2 mins read

No clients were exposed, according to Dubai regulators, as FTX MENA was still in the planning stages before receiving full operating approval. The Dubai Virtual Assets Regulatory Authority (VARA) has suspended the license that allows FTX to make plans to serve the local market following the collapse of the crypto exchange giant. In the announcement, VARA stated on its official website that it had revoked the license for FTX MENA’s

Indian crypto exchange CoinDCX reveals its proof of reserves with Shiba Inu as its 3rd largest holding

November 24, 2022 1 min read

The cryptocurrency exchange in India, CoinDCX, published its proof of reserves on November 24, with Shiba Inu as its third-largest holding. With a comprehensive list of wallet addresses, the public can now access CoinDCX’s on-chain and off-chain assets, according to a company publication on portfolio.nansen.ai/dashboard/APE-P42HYH. CoinDCX holds Ethereum (ETH) as its largest holding followed by Bitcoin (BTC) as its second largest holding. Surprisingly, Shiba Inu, the second popular memecoin comes

Vitalik Buterin: to build trust, centralized exchanges could use cryptographic proofs like ZK-Snark

November 22, 2022 1 min read

Vitalik Buterin, Ethereum co-founder and a well-known blockchain programmer, published a blog post about how centralized exchanges can become trustless. Buterin believes that the best proof of the reserves is a zero-knowledge succinct non-interactive argument or knowledge (ZK-SNARK). On November 19, 2022, Vitalik Buterin published a blog about how centralized exchanges or CEXs can use cryptographic proofs to assure the public that the funds held on-chain cover what they owe.

Bitflex: Next-Generation Cryptocurrency Exchange Officially Launches

November 22, 2022 3 mins read

VICTORIA, Seychelles, Nov. 21, 2022 (GLOBE NEWSWIRE) — Bitflex Ltd. (“Bitflex,” “we” or “our”), a blockchain technology company in the global market, today has just announced the official launch of its cryptocurrency exchange. The launch follows an extremely successful beta period, which saw its user base grow by over 1,000%. The Bitflex platform offers an aesthetically pleasing interface built-in with news, notifications, and charting tools to create a superior environment

Hong Kong intends to legalize retail crypto trading

October 28, 2022 1 min read

Bloomberg reports that Hong Kong intends to allow retail investors to trade cryptocurrency on licensed exchanges. According to Bloomberg, the Hong Kong government intends to allow retail investors to trade cryptocurrency on locally licensed exchanges as part of a larger effort to position the city as a center for virtual asset service providers. Bloomberg reported, citing unnamed sources, that a mandatory licensing regime for cryptocurrency trading platforms set to begin

MasterCard partners with Dubai-based crypto exchange BitOasis

October 27, 2022 1 min read

On October 25, Mastercard announced a strategic partnership with BitOasis, a crypto platform operating in the Middle East and North Africa (MENA), to launch a series of crypto card programs aimed at facilitating the adoption of digital assets in the region. Customers of BitOasis will be able to link their wallets to the new card and convert crypto into fiat in order to use Mastercard’s global merchant network when the

LocalCryptos, a crypto exchange, has stop operations due to the bear market

October 24, 2022 2 mins read

LocalCryptos, a peer-to-peer (P2P) cryptocurrency exchange, has announced plans to depart the market after five years of operation, becoming the latest casualty of the extended bear market. LocalCryptos stated in a blog post published on October 21 that the planned cessation of operations was voluntary, citing many factors, including the broader crypto market implosion and regulatory uncertainties. The team said in the blog, We want to make closing down as