Exchanges

The recent SBF trial took an unexpected turn as Alameda Research CEO, Caroline Ellison, took the stand and made shocking revelations about the company’s financial practices. In her testimony, Ellison confessed to committing fraud under SBF’s direction, admitting to diverting billions of dollars from FTX customer funds for failed investments and to pay off debts.

The vulnerability of cryptocurrency exchanges has once again been brought to the forefront as UPbit, a prominent South Korean exchange, revealed that it experienced a staggering 159,061 hacking attempts during the first half of this year. This data, shared by the exchange’s operator, Dunamu, with South Korean politician Rep. Park Seong-jung, highlights the escalating risks

The US Consumer Financial Protection Bureau (CFPB) is taking steps to address the growing concerns surrounding consumer protections in the cryptocurrency market. Recent significant hacks on platforms like Axie Infinity, Crypto.com, and FTX have showcased the vulnerabilities within this industry. As a result, the CFPB is evaluating the application of the Electronic Fund Transfer Act

The cryptocurrency industry has long been plagued by concerns surrounding user privacy, security, and ethical business practices. Recent allegations against Arkham Intelligence, a prominent crypto intelligence firm, have once again brought these concerns to the forefront. Whistleblower platform Crypto Leaks released a report that accuses Arkham of exploiting vulnerabilities at major exchanges to uncover users’

An investigative report recently published in Forbes has raised concerns about the accuracy of Binance’s initial coin offering (ICO) for Binance Coin (BNB) back in 2017. This report suggests that Binance may have significantly overstated the success of the ICO, casting doubt on the credibility of the cryptocurrency exchange. According to the Forbes report, Binance

JPEX, a cryptocurrency exchange based in Hong Kong, has recently faced criticism due to its decision to restrict user withdrawals. According to a report by The South China Morning Post, JPEX has converted user balances into a non-withdrawable cryptocurrency called JPC. This unexpected conversion has left users unable to access their crypto balances, causing frustration

India is taking significant steps towards establishing itself as a dominant player in global cryptocurrency regulation. The country is reportedly working on a comprehensive global database that will encompass all crypto exchanges, including those operating on the dark web. With the aim of detecting and combating cryptocurrency-related crimes, this initiative is set to launch by

Coinbase, one of the largest cryptocurrency exchanges in the world, has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license allows Coinbase to extend its payment services in Singapore and expand its digital token offerings to individuals and institutions in the country. Coinbase’s MPI license is a significant

In a shocking turn of events, Hong Kong was recently rocked by a massive crypto scandal involving JPEX, a Dubai-based cryptocurrency exchange. This scandal has not only exposed the regulatory loopholes and lack of investor protection in Hong Kong’s nascent crypto industry but also shed light on the risks associated with relying on social media

Gemini, the renowned cryptocurrency exchange founded by the Winklevoss twins, Tyler and Cameron, recently found itself at the center of a controversy. A New York Post report alleged that the twins had secretly withdrawn over $280 million from the bankrupt crypto lender, Genesis. However, Gemini swiftly responded, refuting the claims and presenting its side of

The world of cryptocurrency is no stranger to challenges, and Binance, one of the leading cryptocurrency exchanges, is facing yet another hurdle. Binance recently announced that its banking partner, Paysafe, has decided to cease processing Euro deposits, causing disruptions in various Binance services. This unexpected withdrawal of service has left Binance users in need of

Binance, one of the world’s largest cryptocurrency exchanges, has sold its entire Russia business to CommEX, a recently launched crypto platform. The financial details of the deal were not disclosed. In a statement released on September 27th, Binance revealed its decision to redirect new user registrations from Russia to CommEX and gradually sunset all its

As the world of cryptocurrency continues to evolve, so do the risks and challenges that investors face. In light of the recent hack that resulted in a $7.9 million loss of Ethereum (ETH), HTX global adviser Justin Sun has announced the establishment of a secure asset fund for users (SAFU). This fund aims to provide

Financial authorities in South Korea are planning to implement rigorous eligibility reviews for major shareholders of cryptocurrency exchanges, following the standards set in the banking sector. This move comes in response to the increasing legal issues surrounding shareholders of prominent domestic exchanges like Bithumb and Upbit. The Financial Intelligence Unit (FIU) under the Financial Services

South Korea’s leading cryptocurrency exchange, Upbit, recently made headlines when it announced the suspension of all withdrawals and deposits of Aptos’ native token APT. This drastic measure was taken in response to the discovery of fraudulent activities involving counterfeit APT tokens on September 24th. Upbit found itself in a precarious position when it realized that

In a recent legal filing, Fenwick & West, a law firm that previously provided services to FTX, sought to dismiss a class action suit brought against them. The suit, initiated by customers in August, claimed that Fenwick was partially responsible for the alleged fraudulent activities at FTX. In their defense, Fenwick presented several arguments to

The crypto exchange Bybit recently announced its decision to leave the U.K. market ahead of the implementation of new cryptocurrency marketing rules in October. This unexpected move signifies a proactive approach by Bybit to embrace forthcoming regulations set by the U.K. Financial Conduct Authority. While the exchange initially denied rumors of its departure, the temporary

The Australian Securities and Investments Commission (ASIC) has recently taken legal action against Bit Trade Pty Ltd, a provider for Kraken Crypto Exchange. ASIC alleges that Bit Trade’s margin trading product has caused losses of approximately $12.95 million to Australian customers due to non-compliance with local laws. According to ASIC, the central issue lies in

In a recent post on X (formerly Twitter), Binance CEO Changpeng ‘CZ’ Zhao addressed the reports circulating about him taking a $250 million loan from BAM Management. These reports were labeled as “wrong information” by CZ, setting the stage for a debate surrounding the controversial loan. This article aims to delve into the details and

Binance.US, once a leading cryptocurrency exchange in the United States, has experienced a significant decline in its weekly trade volume. From reaching an annual high of nearly $5 billion, the trade volume has plummeted to a mere $40 million, according to data from crypto firm Kaiko. This decline can be attributed to various factors, including

In a recent development, Hong Kong police officers have apprehended Joseph Lam Chok, a prominent crypto influencer, for his involvement in promoting the JPEX crypto platform. Lam Chok’s company, located at the Entertainment building in Central, was raided during the operation. This incident has shed light on the alleged rug-pulling activities of JPEX, leaving numerous

The world of cryptocurrency and celebrity endorsements has collided in a series of high-profile lawsuits and settlements. NFL quarterback Trevor Lawrence, along with YouTube influencers Kevin Paffrath and Tom Nash, has recently agreed to settle a lawsuit related to their endorsement of the now-defunct FTX cryptocurrency exchange. The terms of the settlement remain undisclosed, but

Binance.US, one of the leading cryptocurrency exchanges in the United States, is undergoing a significant leadership change amidst the rapidly evolving and increasingly hostile regulatory environment. The departure of CEO Brian Shroder has sparked rumors and speculation, prompting Binance CEO Changpeng ‘CZ’ Zhao to address the situation on social media. In this article, we will

In a volatile and unpredictable cryptosphere, where regulatory challenges and fluctuating volumes often shake the stability of cryptocurrency exchanges, Coinbase has managed to weather the storm better than most. Despite significant internal and regulatory issues that caused Binance’s volume to drop dramatically this year, Coinbase has emerged relatively unscathed, maintaining a stable monthly trading volume

Coinbase CEO Brian Armstrong recently voiced his opposition to the U.S. Commodity Futures Trading Commission’s (CFTC) pursuit of enforcement actions against decentralized finance (DeFi) protocols. In a post on X (formerly Twitter), Armstrong argued that these protocols should not be considered “financial service businesses” and suggested that they should take their cases to court instead.

Cryptocurrency exchange CoinEx recently fell victim to a massive hack resulting in the loss of over $27 million. According to a report by blockchain security firm SlowMist, the hack was carried out by the notorious North Korean Lazarus Group. This revelation was also supported by well-known on-chain investigator ZachXBT, who connected the group’s address to

Cryptocurrency exchange CoinEx recently experienced a security breach that resulted in unusual withdrawals from its hot wallets, where it stores exchange funds. According to official reports on September 12, the breach involved unauthorized transactions of Ethereum (ETH), TRON (TRX), and Polygon (MATIC) assets. The incident raised concerns about the security measures in place at CoinEx