Cryptocurrency Exchange Gatecoin to ‘Cease Operation with Immediate Effect’

Cryptocurrency Exchange Gatecoin to ‘Cease Operation with Immediate Effect’

The Hong Kong-based cryptocurrency exchange Gatecoin has closed down its website and replaced it with a simple announcement revealing that they have received a ‘winding up’ order from an unnamed court. This news comes after a string of unfortunate events that had been weighing down the firm for the past year. Difficulties with 3rd party payment processors, getting hacked, having its banking accounts frozen were just some of the challenges that played a part in…

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18-Year-Old Japanese Hacker Arrested for $135K Cryptocurrency Theft from Monappy

18-Year-Old Japanese Hacker Arrested for $135K Cryptocurrency Theft from Monappy

An 18-year-old Japanese boy, whose name is kept by the police because he is a minor, was handed to prosecutors over ¥15 million worth of cryptocurrency (around $135K) theft last year by taking advantage of vulnerabilities presented in the cryptocurrency wallet website Monappy. Local news outlet The Japan Times also reported that the case is one of its kind in Japan; this is the first time that criminal charges have been filed against a hacker…

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Coinbase Top Executive: We Bought Neutrino for its Technology, Not Talent

Coinbase Top Executive: We Bought Neutrino for its Technology, Not Talent

In recent years, there’s been a big discussion on user privacy protection laws and companies’ behavior in a lot of the public forms. Big companies like Facebook and Google have come under fire for failing to protect or actively seeking to exploit user’s private data acquired through their services. The public appears to be very sensitive to the issue, and understandably so. In the crypto space, the issue has raised its head this week after…

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Gemini Partners with BT Radianz Cloud to Connect Institutional Clients with Crypto

Gemini Partners with BT Radianz Cloud to Connect Institutional Clients with Crypto

British Telecommunication (BT group) has recently announced that the New York-based cryptocurrency exchange Gemini joined its Radianz Cloud – the world’s largest network of financial cloud communities. With this partnership, Gemini is expecting to reach thousands of high-end clients on Radianz Cloud and to bring them into the crypto market by meeting their institutional requirements and pledging to provide the most efficient, secure and cost-effective infrastructure to trade in crypto. Gemini is a New York-based…

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South Korean Crypto Exchange Coinbin Goes Bankrupt after $26 Million Embezzlement by Ex-Employee

South Korean Crypto Exchange Coinbin Goes Bankrupt after $26 Million Embezzlement by Ex-Employee

A crypto exchange by the name Coinbin based in South Korea announced on Feb. 20 that it will be filing for bankruptcy soon. The shocking news came as a result of the unpleasant turn of events in the company. Before we get into the story, it is worthy to recall that another exchange, Youbit, suffered a devastating financial loss in 2017 due to a hack, which made it lose about 17 billion won; as a…

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Liechtenstein’s Official Postal Service Adopts Over-the-Counter Crypto Exchange Starting with Bitcoin

Liechtenstein’s Official Postal Service Adopts Over-the-Counter Crypto Exchange Starting with Bitcoin

Time has shown over and again that there is no limit to the application of cryptocurrencies and its underlying technology, blockchain. The technology which was ridiculed from its inception is gaining more and more traction with each day that goes by. It has revolutionized the way transactions are being done in virtually every sector of the economy. Liechtenstein’s official postal service, Liechtensteinische Post AG, took it a step higher as it incorporated this technology into…

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LocalBitcoins Intends to Fully Comply with the Upcoming Anti-Money Laundering Regulations

LocalBitcoins Intends to Fully Comply with the Upcoming Anti-Money Laundering Regulations

Peer-to-peer cryptocurrency exchange and crypto ATM manufacturer LocalBitcoins recently issued a statement about anti-money laundering laws and compliance with the 5th AML directive of the European Union. The firm said in their statement that they want to work on compliance while building trust in the crypto market space. From the beginning, trust and confidence in the cryptocurrencies have been hindered by their attachment to criminal enterprises and money laundering operations through digital currencies. Considering the…

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QuadrigaCX is Granted Protection Amid Confusion and Suspicion over CEO Sudden Death

QuadrigaCX is Granted Protection Amid Confusion and Suspicion over CEO Sudden Death

Canadian crypto exchange QuadrigaCX has been granted an order for creditor protection in Nova Scotia Supreme court, following the recent death of the company’s co-founder and CEO. QuadrigaCX is a major cryptocurrency exchange and was Canada’s largest cryptocurrency exchange until 2019. QuadrigaCX’s CEO Gerald Cotton reportedly died suddenly from complications relating to Crohn’s disease in December 2018, at the age of 30. Cotton reportedly died on December 9 in India while opening an orphanage. Cotton’s sudden death was both…

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Islamic Terrorist Organization Hamas Leverages Crypto Exchanges to Solicit Funds

Islamic Terrorist Organization Hamas Leverages Crypto Exchanges to Solicit Funds

Hamas, the ruling Islamic Palestinian terrorist organization in the Gaza Strip, has resolved to soliciting funds through Bitcoin after being cut off from other means of payments, recent report finds. The terrorist organization has been unrelentingly fighting against Israel, forcing Israel to cut ties with any part of the Gaza Strip, and this includes their means of receiving payments. Hamas also reportedly turned down the recent agreement it reached with Egypt and Israel. Qatar, which…

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“Nine-figure Deal”: Crypto Exchange Kraken Buys the Derivatives Platform Crypto Facilities

“Nine-figure Deal”: Crypto Exchange Kraken Buys the Derivatives Platform Crypto Facilities

On February 4th, the San Francisco-based crypto exchange Kraken officially announced the successful acquisition of Crypto Facilities, London based crypto derivatives trading platform and index provider, as part of an impressive ‘nine-figure deal.’ Kraken disclosed the acquisition in an official press release and declared its potential to become a ‘global leader in cryptocurrency derivative trading.’ Since 2013, Kraken has been a world leader in providing one of the most secure digital assets services and presently…

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