After a significant exploit that led to the loss of almost half of its assets, India-based centralized exchange WazirX is actively seeking partnerships to restore full operations. Co-founder Nischal Shetty took to social media on July 23 to update users on the situation and shared that the exchange is diligently working on a solution to
Exchanges
The crypto industry is currently in a state of anticipation as Donald Trump’s odds of winning a second presidency have been on the rise. With promises to end President Joe Biden’s ‘crusade against crypto,’ many in the industry are eagerly waiting to see what the future holds. However, while this may be good news for
The recent hack of India-based crypto exchange WazirX has raised significant concerns within the cryptocurrency community. In a post-mortem report by MPC wallet provider Liminal on July 19, it was revealed that the breach was not a result of Liminal’s infrastructure being compromised. Instead, the hack was attributed to compromised devices within WazirX’s network. According
Recently, a US court granted Binance US the authority to invest specific customer fiat funds, currently held at BitGo, in US Treasury Bills. This decision came after the exchange requested court approval to invest approximately $40 million in $10 million increments over a period of four weeks. The funds will be invested through a trading
Crypto exchange OKX has recently announced its selection of Malta as its Market in Crypto-Assets (MiCA) hub. This move was made in order to better serve the 450 million residents of the European Union. By choosing Malta, OKX aims to provide services that comply with local regulations while also ensuring seamless deposit and withdrawal connectivity
Recently, blockchain security firm Cyvers Alert reported that the Indian exchange WazirX fell victim to a security breach, resulting in the loss of around $235 million. According to Cyvers Alert, multiple suspicious transactions took place involving WazirX’s Safe Multisig wallet on the ETH network, with a total of $234.9 million being moved to a new
The recent announcement by crypto exchange OKX regarding the cessation of its operations in Nigeria has left many Nigerian clients reeling. According to a statement obtained by CryptoSlate, OKX has instructed users to close their positions by August 16, as they will no longer be able to open new positions or access other services on
Russia’s Ministry of Finance has recently put forward a proposal that would allow traditional exchanges to facilitate digital asset trading for a specific group of investors. This proposal, outlined in response to two pieces of regulation, suggests the creation of special regulations for organized trading in digital currency as a commodity. However, the government’s draft
During a recent hearing, Judge Katherine Polk Failla expressed criticism towards Coinbase for its attempts to subpoena SEC Chair Gary Gensler in the ongoing case against the firm. Failla highlighted that Coinbase’s request included Gensler’s statements prior to taking office as SEC chair in 2021. The company’s lawyer defended this request by explaining that they
In a bid to enhance security in the cryptocurrency sector, Kraken recently announced the co-founding of the Blockchain Security Standards Council (BSSC) with other major industry players. The move comes at a crucial time when security threats such as fraud, nation-state cyberattacks, and protocol exploitation are increasing within the crypto industry. The BSSC aims to
Paxful Inc. co-founder and former CTO Artur Schaback recently made headlines by pleading guilty to conspiracy charges related to the failure to maintain an effective anti-money laundering (AML) program. The Department of Justice revealed that Schaback’s negligence transformed Paxful into a hotspot for various criminal activities, including money laundering, fraud, and extortion schemes. This not
The Central Bank of Nigeria’s deputy director, Olubukola Akinwumi, recently made some serious accusations against popular cryptocurrency exchange Binance. Akinwumi accused Binance of facilitating transactions that are typically reserved for authorized banks and financial institutions. These accusations were part of his testimony in a lawsuit filed by the Economic and Financial Crimes Commission (EFCC) against
The European Banking Authority (EBA) recently made updates to its Travel Rule guidelines, extending the regulations to include crypto service providers and intermediaries. This change is set to have a significant impact on the crypto exchanges operating within the European Union, affecting the way they handle funds and crypto asset transfers. Starting on December 30,
Taiwan Mobile, a prominent player in the telecom industry in Taiwan, has taken a significant step by applying for a license to operate as a Virtual Asset Service Provider (VASP). This move has positioned the company as the 26th VASP in Taiwan, according to the latest report from the Financial Supervisory Commission. The company’s General