This crypto exchange loses over $10 million to hackers

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

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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

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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 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

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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

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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

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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

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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

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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

Twitter account for hacked to spread phishing scam

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Hackers hijacked the Twitter account to spread phishing attacks. is one of the biggest cryptocurrency exchanges in the industry. The exchange’s official URL was changed by the hackers from to, according to information currently available. Users who typed in the URL were sent to a landing page advertising a giveaway of $500,000 USDT. Because it offers hackers access to the wallet, users who connect their

US Senator introduces bill to prevent SEC overreach on crypto exchanges

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A new bill that would shield cryptocurrency exchange platforms from some Securities and Exchange Commission (SEC) enforcement actions is being introduced by a Republican senator. Bill Hagerty of Tennessee is promoting the Digital Certainty Act of 2022 as a way to protect cryptocurrency exchanges from SEC overreach and provide legal clarity over how virtual assets are to be classified. According to Haggerty, regulatory ambiguity is hindering the growth of the