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Huobi US (HBUS) Crypto Exchange Shuts Down After Parent Company Huobi Global

Posted on December 10, 2019December 10, 2019 by Rehan Yousaf

Huobi’s U.S. cryptocurrency exchange platform, HBUS, has announced that the company will be ceasing its operations. In a notice posted on Huobi’s official website, the company states that HBUS will need to close all of its operations in order to return with a more impact in accordance with the company’s new and ongoing strategic layout. This move comes after HBUS’ parent company, Huobi Global, has already declared that it also terminates its trading operations in…

Binance Adds Chinese Blockchain Startup DappReview to Its Shopping List

Posted on December 5, 2019December 5, 2019 by Rehan Yousaf

Christmas came early – for the crypto exchange giant Binance, I guess. Crypto news making rounds shows that the crypto exchange is not ready to slam the brakes on its shopping spree just yet. In fact, it just acquired the Chinese blockchain data startup, DappReview. DappReview happens to be one of the biggest information and analytics platforms for blockchain-oriented dapps. Joining forces with Binance will, undoubtedly, create a strong propellant for crypto, which just might…

macOS Malware of North Korean Lazarus Group Detected on Crypto Platform

Posted on December 5, 2019December 5, 2019 by Rehan Yousaf

A new macOS malware has surfaced recently, with low threat detection rate, that digital security researchers think is allegedly created by the Lazarus Group, a cybercrime group based in North Korea with a long history of crypto hacking. The malware was disguised on a cryptocurrency trading platform website called ‘unioncrypto.vip’ and was discovered by researchers before any major damage was done. The malware is capable of regaining a payload from an isolated storage space and…

Report: Coinbase the Largest Bitcoin Holder Among Exchanges with Over $7B

Posted on December 3, 2019December 3, 2019 by Rehan Yousaf

On December 2nd, the Reddit user webb32503 posted a screenshot from a research by the blockchain security firm PeckShield and the software company BitUniverse on a Bitcoin subreddit of Bitcoin(BTC)trade holdings that various crypto exchanges possess. At the top of the list is Coinbase with a total of 966,230 BTC, which is worth over $7 billion in the current Bitcoin price. The leading crypto exchange based in the United States is significantly ahead of other…

Crypto Exchange IDAX Suspends Operations as CEO Goes Missing

Posted on December 2, 2019December 2, 2019 by Rehan Yousaf

The Mongolia-based crypto exchange IDAX has updated its users about an odd situation regarding its missing CEO and has announced it restricts access to its cold wallet. The cryptocurrency exchange IDAX released an “urgent notice” on Friday, November 29th. The notice states that the company’s CEO has been missing since November 24th; because of this, the users of the exchange’s cold wallet would face limited to no access to their digital wallets which store all…

Crypto Asset Exchange Poloniex Buys Decentralized TRON-Based Exchange TRXMarket

Posted on December 1, 2019December 1, 2019 by Rehan Yousaf

The US-based digital asset exchange Poloniex announced the acquisition of TRXMarket on November 27th. TRXMarket, a decentralize exchange that is based on the TRON (TRX) network, will now be called Poloni DEX and carry out functions under Poloniex. Poloniex, among the top global virtual asset exchanges, made the recent purchase as part of its plan to expand its crypto trading platform and make several new trading options available for its customers. After careful evaluation, Poloniex…

Five Chinese Crypto Exchanges Shut Down Following Government’s Warning

Posted on November 30, 2019November 30, 2019 by Rehan Yousaf

Chinese authorities have warned local cryptocurrency firms about virtual currency trading, and this has now caused at least five crypto exchanges to block their operations and for the course of this month will not provide services for users in the country. President Xi Jinping, who had previously proclaimed his support for the development of blockchain technology in the country, causing confusion within the citizens as China, is now increasing the pressure on the digital currency…

South Korean Crypto Exchange UPbit Admits 342K ETH (~$50M) Theft

Posted on November 28, 2019December 11, 2019 by Rehan Yousaf

UPbit, South Korean cryptocurrency exchange, has recently posted a statement on its official website, confirming a cyberattack that resulted in the robbery of approximately $50 million in virtual assets. The statement was posted on 27th November, when UPbit informed users about the suspension of its services related to deposit and withdrawal of cryptocurrency. The crypto exchange also revealed in the post that over 342,000 of Ethereum (ETH)trade was seized and stolen from Upbeat’s Ethereum hot…

New South Korean Legislation Establishes Legal Framework for Crypto

Posted on November 28, 2019November 28, 2019 by Rehan Yousaf

South Korea’s National Assembly’s policy committee passed a bill on Tuesday, adding new amendments to the Act on Reporting and Using Specified Financial Transaction Information that will create a groundwork for digital currencies by classifying them as virtual assets. One of Korea’s financial regulator, the Financial Services Commission (FSC), claims that the recent additions to the Act can help make digital currencies more transparent and validate investment opportunities in cryptocurrency across the country. The FSC…

Crypto Exchange BitBay Follows FATF Rules and Ends Support for Monero

Posted on November 27, 2019November 27, 2019 by Rehan Yousaf

In an announcement released on Monday, the crypto exchange BitBay has affirmed that it will stop its support for the cryptocurrency Monero (XMR). The trading platform will stop its support on 19th February, 2020. Monero is a privacy-oriented digital coin. To keep up with the market standard, BitBay has decided to end its services for all cryptocurrencies that revolve around privacy. The decision was made to ensure that no money laundering activity takes place or…

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