Binance Charged with Embezzling $860k Worth of Crypto Funds

Crypto exchange Binance was accused of freezing an account worth around $1 million. The owner accuses the platform of embezzlement, but the company says it simply followed the requirements of the South Korean police. Binance Blocks Account Worth Almost $1M In November 2018, Binanace blocked an account that had over $850,000 worth of crypto funds. The owner claims that the exchange led by Changpeng Zhao (CZ) stole the money, Russia-based crypto news site Forklog reports, […]

Binance Korean Cloud Exchange Adds Zero-Fee Trading

The leading crypto exchange quietly dropped the news that it was entering the South Korean market with Binance KR earlier this week. Not only will this be the first exchange to run on the Cloud but it will be zero-fee as well. Binance KR to Leverage Core Functionalities When Binance announced the launch of Binance Cloud in February, CEO Changpeng Zhao (CZ) said that he expected it to become the company’s biggest revenue source over […]

BitMEX Long on Bitcoin Development, Increases Grant to $100K

HDR Global Trading that owns and operates BitMEX is committed to “Bitcoin development is for the long term”. Today, the company announced that it will increase its 2019 grant to Bitcoin core dev Michael Ford to $100,000. BitMEX Ups Core Developer Grant to $100K According to the BitMEX blog, and as tweeted out by BitMEX Research on 31 Mar 2020, the company will be increasing its grant this year to Bitcoin core developer Michael Ford […]

Huobi Launches Bitcoin Perpetual Swaps with 125x Leverage

Singapore-based Huobi is the latest crypto exchange to launch perpetual swaps. The new product is live on Huobi DM, the company’s derivative trading platform. New Product Allows Traders to Benefit from Market Volatility BitMex-like future contracts with no expiry times, commonly referred to as perpetual swaps, are becoming increasingly popular among crypto exchange firms. Last year, Binance and OKEx introduced perpetual swaps, and now it’s time for Huobi to join the trend. Huobi DM already […]

OKCoin Prepares to Launch New Crypto Exchange in Japan

These are challenging times for many businesses, yet the OK Group is undeterred. OKCoin completed its registration to launch a cryptocurrency exchange in Japan today – the first global exchange to earn a license in the country. OKCoin to Launch New Exchange in Japan According to an official release, OKCoin Japan Co. Ltd. headquartered in Tokyo completed the registration process to launch its virtual currency exchange business. As a Japanese subsidiary of OK Group (to […]

Bitcoin Exchange Outflows Hit 8-Month High, HODL’ing Soars

Bitcoin adopters seem eager to hold their own coins as withdrawals now outpace deposits on exchanges. This cryptocurrency outflow reflects the growing unease about the state of the global economy, as well as the stability of the crypto space. BITCOIN EXCHANGE BALANCES HAVE BEEN DECLINING FOR WEEKS Analytics firm Glassnode has noted that exchange liquidity has been declining since February. In recent days this transfer of funds to private wallets has accelerated. Exchange customers have […]

Binance to Open Office in Shanghai – Yes, Really

It looks as if Binance has gone ahead and achieved the impossible. In a landmark move, CEO Changpeng Zhao (CZ) announced that Binance Academy will officially set up an office in Shanghai. Binance reaches ‘Milestone’ with Office in Shanghai Taking to Twitter today, CZ applauded the achievement of the Binance Academy team. They were able to reach a “milestone agreement” with the local government and open a legal physical presence in China. In other news, […]

South Korean Crypto Exchanges Aid Police in Child Porn Investigation

South Korea’s four major cryptocurrency exchanges, Upbit, Bithumb, Coinone, and Korbit, reportedly stated that they would support the local police in investigating the so-called “nth rooms” phenomenon, which turned into a nation-wide scandal. Crypto Exchanges Reportedly Said Celebrities Were Users For years, dozens of South Korean middle school girls, and sometimes boys, were filmed performing violent sexual acts and self-harm. The videos were then shared through Telegram chat rooms in exchange for payments made in […]

Binance Distributes ‘HIVE’ Tokens, Ignores Cease and Desist Order

Despite Hive Blockchain Technologies Ltd. requesting a cease and desist order to stop using its name, Binance has gone ahead and completed the distribution of ‘HIVE’ crypto tokens anyway. Binance Carries on Regardless with ‘HIVE’ Binance announced on its blog a little over an hour ago that the hard fork of the Steem blockchain initiated by Hive.io was complete. It also explained that the distribution of HIVE tokens to STEEM holders had been finalized at […]

Huobi, OKEx Offer Angry Crypto Traders Compensation

Huobi and OKEx have announced that they will be compensating traders who lost funds due to system failure during the crypto market crash two weeks ago. Huobi Calms Down Unsatisfied Traders Crypto exchanges were not prepared for the crypto crash on March 12, and some platforms encountered temporary technical difficulties. Huobi and OKEx were among the exchanges that went down due to congestion, causing many traders to suffer significant losses. The two Chinese exchanges, whose […]

BitMEX Opens Up About Its Crypto Insurance Fund

The extreme volatility on March 12 and 13 left many traders reeling. And also with a lot of questions. Today, the leading crypto derivatives exchange BitMEX opened up about its insurance fund. BitMEX Insurance Fund ‘Last Line of Defence’ In its official blog post, BitMEX explains that the exchange received a lot of questions over the performance of its insurance fund on March 12 and 13. It also details what the insurance fund is and […]

OKEx Launches Peer-to-Peer Loan Feature

OKEx is stepping into the world of DeFi launching its C2C loan feature. According to Director of Financial Markets Lennix Lai, this will create an “open and transparent marketplace for matching demand and supply on idle capital.” OKEx’s Foray into DeFi with New C2C Loan Feature There was a time when cryptocurrency exchanges scrambled to list the most tokens. Now they’re competing on whole new terrains. From IEOs to cloud services, creativity knows no bounds. […]

New Coinbase Rival Launches Crypto Exchange, Visa Card

US-based cryptocurrency exchange CoinZoom has officially launched its crypto exchange platform and Visa card. CoinZoom Allows Users to Spend Crypto with Visa Cards CoinZoom has just officially deployed its crypto exchange platform and Visa card that allows users to buy, sell and spend Bitcoin and other digital coins. The Utah-based company is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business. The CoinZoom Visa Card lets clients convert their crypto holdings […]

Mt. Gox Ex-CEO Asks Judge to Dismiss Last Remaining Lawsuit

Mark Karpeles, the disgraced former head of Mt. Gox, has called on a U.S. district court to dismiss the last remaining fraud charge against him, asserting that the plaintiff has changed the facts underlying his claim. This is the latest move in the long legal battle over the mismanagement and failure of Bitcoin’s first major exchange. TWO OF THREE MT. GOX CHARGES ALREADY DROPPED Gregory Greene, a former Mt. Gox customer, is the last remaining […]

BitMEX Refunds Traders After Latest DDoS Attacks

Ever since the shock Bitcoin crash on Mar 13 when BitMEX went offline due to “hardware issues,” users have been awaiting an explanation. Well, today, they got them. However, “subject to two distributed denial-of-service (DDoS) attacks” isn’t convincing many. BitMEX Hit by 2 DDoS Attacks According to an update on the BitMEX blog, supposedly written by CEO Arthur Hayes himself, the team has been “working around the clock” to figure out what happened. Upon its […]

Major Bitcoin Influencer ‘Can No Longer Recommend’ Trading On BitMEX

Following the recent major bitcoin and cryptocurrency market crash, popular influencer WhalePanda tweeted that he could “no longer recommend” trading on BitMEX, following criticism of the platform’s handling of the situation. While prices plummeted, BitMEX, ‘very conveniently’ according to WhalePanda, went offline twice during peak trading, citing firstly a ‘hardware issue’ followed by a DDOS attack. The Smoking Gun Some traders and analysts suggested that there was no hardware issue, an idea which was swiftly […]

Whale Transfers Bitcoin Worth $10 Million to Bitstamp; Dump Incoming?

Bitcoins worth $10 million dollars have been transferred to the cryptocurrency exchange Bitstamp from an unknown wallet address. Will BTC dump again?  Just two days after Bitcoin’s biggest crash in over 10 months, falling from a value of around $7200 per BTC to under $5500 where it currently resides, a huge transfer of the cryptocurrency has taken place today. According to whale-alert.io’s Twitter update: 2,000 BTC were transferred from an unknown address to the cryptocurrency […]

Deribit Pumps 500 BTC Into its Own REKT Insurance Fund

It’s a wild ride out there as insane volatility catches both derivatives traders and exchanges off-guard. Not only did BitMEX suffer a “hardware” issue but Deribit also went down and saw its insurance fund get REKT. Instead of initiating socialized losses though, the Panama-based exchange will use 500 BTC from its own funds. Deribit Does the Right Thing by Its Users A derivatives exchange needs an insurance fund for when over-leveraged traders get blown out […]

Cryptopia Liquidators Face New Hurdle Estimating Crypto Holdings

Ever since Grant Thornton were appointed as liquidators of the defunct Cryptopia exchange it’s been an uphill struggle. Now, they can’t determine whether the funds in users’ accounts actually match the amount held in the hacked exchange’s hot and cold wallets. Cryptopia Liquidators Submit Plea to Court You have wonder whether Grant Thornton knew they’d face so many problems when they took on the Cryptopia challenge. From finding out that users’ funds were sent to […]

BitMEX Keeps Hoarding Bitcoin, Revenues Keep Peaking

BitMEX remains an unstoppable force in the Bitcoin and crypto space, a top choice amongst traders looking for futures market operators. BitMEX Keeps Attracting Bitcoin Deposits BitMEX keeps adding both traders and Bitcoin to its balance. The exchange, which faced competition from various futures markets such as OKEx, CME, and Bakkt, remains the top driver of BTC price action and discovery. More than 30,000 BTC have flowed into the BitMEX wallet from the start of […]