Browsing:Crypto exchange

South Korean Karaoke Platform SOMESING Faces Major SSX Token Hack
3 months ago 1 min read

This crypto exchange loses over $10 million to hackers

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 and outlining precautionary measures to address the situation. Upbit and other exchanges responded to SOMESING’s request by temporarily suspending SSX token deposits and withdrawals. According to the press release, Upbit

FTX bankruptcy
1 year ago 2 mins read

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

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 Minimum Viable Product (MVP). VARA confirmed that the license of FTX MENA was suspended prior to any clients being made aware of it, citing the bankruptcy filing of FTX-related companies

CoinDCX Indian crypto exchange
1 year ago 1 min read

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

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 third on the list of the crypto exchange. On top of that, the Indian crypto exchange intends to publish monthly updates on the ratio of its reserves to liabilities. Sumit

vitalik buterin ethereum founder
1 year ago 1 min read

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

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. Buterin wrote that, in addition to the traditional finance or TradFi measures of auditors, corporate governance, licensing, and due diligence, CEXs could implement a system that prevents them from withdrawing

Bitflex crypto exchange
1 year ago 3 mins read

Bitflex: Next-Generation Cryptocurrency Exchange Officially Launches

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 for users to make the most educated trades. The trading platform versions are immediately available for Windows, iOS, and Android. Ee Wui Yang, CEO of Bitflex, said:  “This is an

Hong Kong plans to legalize crypto for retail trading
1 year ago 1 min read

Hong Kong intends to legalize retail crypto trading

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 in March will allow retail trading. Details of the new regime are expected to be announced on Monday at a city-wide fintech conference attended by senior government and regulatory officials.

MasterCard partners with BitOasis crypto exchaneg
1 year ago 1 min read

MasterCard partners with Dubai-based crypto exchange BitOasis

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 card launches in early 2023. Ola Doudin, co-founder and CEO of BitOasis, sees a huge potential for adoption in the area, noting: “We continue to witness sustained demand amongst our

LocalCryptos stopped services
1 year ago 2 mins read

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

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 clean and orderly as possible to allow our users a smooth transition to alternative P2P platforms. LocalCryptos will be winding down in phases, with the key dates included below. Furthermore,

Gate io Twitter account hacked
1 year ago 1 min read

Twitter account for Gate.io hacked to spread phishing scam

Hackers hijacked the Gate.io Twitter account to spread phishing attacks. Gate.io is one of the biggest cryptocurrency exchanges in the industry. The exchange’s official URL was changed by the hackers from Gate.io to gate.com, according to information currently available. Users who typed in the gate.com 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 wallets to the website risk having their valuables stolen. PeckShield, a blockchain security company, alerted the public to the scam. According to data from CoinMarketCap, the controlled exchange had a

A Republican Senator is introducing a new bill that would protect crypto exchange platforms from certain enforcement actions by the U.S. Securities and Exchange Commission (SEC).
2 years ago 1 min read

US Senator introduces bill to prevent SEC overreach on crypto exchanges

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 crypto business by making it difficult for US-based crypto enterprises to attract investment and create jobs. In the press release, Haggerty also said that the current lack of regulatory clarity

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