Report: Centralized Crypto Exchanges Enjoyed 85% Volume Surge in April

Report: Centralized Crypto Exchanges Enjoyed 85% Volume Surge in April

CryptoCompare, a leading cryptocurrency data analysis company, has released its Exchange Review for April 2019, highlighting some positive changes in the crypto exchange industry. The report demonstrates that monthly volumes increased by 85% with South Korean exchange, Bithumb, being the top exchange at USD 17bn. Other popular cryptocurrency exchanges such as Bitfinex, Upbit, Coinbase, Kraken, Bitstamp, and Coinsplit also experienced a surge in volumes last month. Bitfinex came third in line at USD 6.7bn despite…

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Embattled Crypto Exchange Bitfinex Unravels its New Billion Dollar Token LEO

Embattled Crypto Exchange Bitfinex Unravels its New Billion Dollar Token LEO

With exceeding joy for completing yet another milestone (and diverting some attention from its recent $850M cover-up controversy), the Hong Kong-based crypto exchange, Bitfinex, took to its blog section on Friday to announce the listing of a new token on the platform. The token, termed UNUS SED LEO, was launched on May 20 on the Bitfinex platform to help create a better customer experience for its users. While it may be just a token launch…

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Crypto Exchange Cryptopia Goes into Liquidation; Grant Thornton Appointed as Liquidator

Crypto Exchange Cryptopia Goes into Liquidation; Grant Thornton Appointed as Liquidator

Following a major hack in mid-January that resulted in huge losses, the New Zealand based crypto exchange Cryptopia has gone into liquidation. David Ruscoe and Russell Moore from Grant Thornton New Zealand have been appointed as liquidators. In January, Cryptopia was reported to have “suffered a security breach which resulted in significant losses,” with losses estimated to be around $16 million in Ethereum and ERC-20 tokens, as reported in February by Elementus, a blockchain data…

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Binance Hacked Out of $40.7M; Considered Rollback of Bitcoin Network!

Binance Hacked Out of $40.7M; Considered Rollback of Bitcoin Network!

Hackers have successfully hacked the world’s largest crypto exchange by volume and managed to steal $40.7 million in cryptocurrency. According to a post by the firm’s CEO, Changpeng Zhao published on the firm’s website, over 7,000 Bitcoin was stolen from the exchange. The post talks about a “large scale security breach” which was discovered by the company’s security team. The attack was carried out on multiple fronts through phishing, hacking, and stealing API keys, two-factor…

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Cornell Tech Research: Legions of Bots Flood Cryptocurrency Exchanges

Cornell Tech Research: Legions of Bots Flood Cryptocurrency Exchanges

For those who have hailed blockchain as the be-all and end-all of the modern world, they are in for a nasty shock. A recent research by Cornell Tech has revealed that arbitrage bots are manipulating and exploiting “inefficiencies” in decentralized crypto exchanges, the very backbone of the blockchain structure. The report brings shocking revelation, especially at a critical juncture where governments are spending extravagant amounts of money on integrating their countries into the blockchain loop….

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Fidelity to Launch a New Crypto Trading Service for Institutional Customers

Fidelity to Launch a New Crypto Trading Service for Institutional Customers

A recent Bloomberg report from May 6 reveals that Fidelity Investments, the fifth-largest firm in asset management, is all set to debut Bitcoin trading for institutional clients in the coming weeks. According to an anonymous source, this will be in addition to the existing range of services on the part of Fidelity Digital Assets. Fidelity spokeswoman, Arlene Roberts, has stated: “We currently have a select set of clients we’re supporting on our platform. We will…

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CoinMarketCap to Crypto Exchanges: Comply with Our Requirements or Get Kicked Off the Platform

CoinMarketCap to Crypto Exchanges: Comply with Our Requirements or Get Kicked Off the Platform

Data collection and price aggregation platform for cryptocurrencies and tokens, CoinMarketCap, announced on May 1 that any crypto exchanges that refuse to comply with their data requirements will be kicked off the platform. The announcement was made alongside many others on a blog post by CoinMarketCap celebrating its 6th birthday. The platform wants to improve transparency and encourage accountability and the announcements made in their blog post are mostly aimed towards those ambitions. In March,…

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Two People Charged for Providing Unlicensed Banking Services to Crypto Exchanges

Two People Charged for Providing Unlicensed Banking Services to Crypto Exchanges

Thanks to the combined efforts of special agents from the New York Office of the Internal Revenue Service, Criminal Investigation Division (IRS-CI) and the FBI New York Money Laundering Investigations Squad, a banking fraud was uncovered recently and the managers charged for bank fraud. The illegal money transmitting scheme was reportedly being spearheaded by a 60-year-old man from Arizona, called Reginald Fowler. The official press release has it that Fowler worked hand in hand with…

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Cryptocurrency Crime Is Already at $1.2 Billion in Q1 of 2019 Alone

Cryptocurrency Crime Is Already at $1.2 Billion in Q1 of 2019 Alone

Research from CipherTrace for Q1 of 2019 shows that theft and fraudulent activity related to crypto has intensified exponentially in the first quarter of the year. In the CipherTrace 2018, Q4 Cryptocurrency Anti-Money Laundering (AML) Report it was unveiled that a spectacular amount of $1.7 billion in cryptocurrency was stolen or involved in fraudulent activity last year. While this figure seemed huge at the time, we’re now faced with $1.2 billion stolen just in the…

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With a New Acquisition of a Crypto Custodian, ICE’s Bakkt has Big Plans for Bitcoin

With a New Acquisition of a Crypto Custodian, ICE’s Bakkt has Big Plans for Bitcoin

As of April 29th, New York Stock Exchange owner-operator, Intercontinental Exchange Inc. (ICE), has taken a huge leap in order to assert their commitment to Bakkt, the much hyped cryptocurrency platform. Bakkt COO Adam White announced that Bakkt has acquired Digital Asset Custody Company (DACC), a crypto-custodian startup. This move ensures a native support of 13 different blockchains and 100+ assets, which he claims, “will serve as an important accelerator.” This announcement comes as a…

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