The crypto intelligence firm Arkham Intelligence is currently in the hot seat due to the release of a report by whistleblower platform Crypto Leaks. The report, published on October 5th, contains explosive allegations against Arkham, accusing the company of leveraging vulnerabilities at major exchanges to obtain users’ personal information. In this article, we will critically
Exchanges
Binance, one of the largest cryptocurrency exchanges in the world, has been under scrutiny recently due to allegations of overstating the success of its initial coin offering (ICO) for Binance Coin (BNB) in 2017. An investigative report published in Forbes shed light on the discrepancies surrounding Binance’s ICO and revealed potential deceptive practices by the
In a recent turn of events, JPEx, a cryptocurrency exchange, has allegedly begun restricting withdrawals by converting user balances into a non-withdrawable cryptocurrency. The news, which surfaced on October 4th, has caused uproar among users who are now unable to access their Tether (USDT) holdings. Instead, their balances have been converted into JPC, JPEx’s proprietary
India is making significant efforts to establish itself as a dominant player in global cryptocurrency regulation. To strengthen the detection of cryptocurrency-related crimes, the country is reportedly developing a comprehensive global database that includes all crypto exchanges, including those on the dark web. This initiative is set to launch by March 2024, aligning with the
Coinbase, the popular cryptocurrency exchange, has recently 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, enabling the exchange to provide digital token services to individuals and institutions in the country. The MPI license granted by MAS permits Coinbase
Hong Kong, the global financial hub and gateway to China, recently experienced a major crypto scandal involving JPEX, a Dubai-based cryptocurrency exchange. JPEX allegedly defrauded thousands of investors of over $160 million, exposing significant regulatory loopholes and a lack of investor protection in Hong Kong’s nascent crypto industry. The case also shed light on the
Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, has confirmed withdrawing $282 million from the bankrupt crypto lender Genesis. In a statement released on September 28, Gemini addressed a New York Post report that alleged the Winklevoss twins had secretly withdrawn over $280 million from the lender. Gemini clarified that the withdrawn funds
Cryptocurrency exchange Binance has encountered a setback as its banking partner, Paysafe, has decided to stop processing EUR deposits. This unexpected move has caused disruptions in various Binance services. In response, Binance advises its users to convert their fiat Euro balances into Tether’s USDT before the end of October. Disruptions and Suspension of Activities Binance
The world of cryptocurrency is ever-evolving, and major players often make significant changes to their business strategies to stay ahead. In a recent development, Binance, one of the leading crypto exchange platforms, announced the sale of its entire Russia business to a newly launched platform called CommEX. This move has raised eyebrows and sparked discussions
HTX global adviser Justin Sun recently announced the creation of a secure asset fund for users (SAFU) following an exploit on the exchange’s hot wallet, resulting in a loss of $7.9 million on September 24. This fund serves as a financial safety net, aiming to reimburse investors in the unfortunate event of asset losses due
