In July, WazirX, one of India’s leading crypto exchanges, suffered a catastrophic hack that resulted in the theft of $230 million worth of assets. The incident sent shockwaves through the cryptocurrency community, leading to a crisis of confidence among its user base. To navigate this turbulent period, WazirX requested a six-month moratorium to temporarily shield
Exchanges
The cryptocurrency landscape is constantly evolving, with new platforms emerging regularly to cater to the increasing demand for digital currencies. As investors circle the market looking for viable trading options, the significance of selecting a trustworthy and efficient exchange cannot be overstated. This article delves into one of the leading platforms available today—BestChange—highlighting its exceptional
The cryptocurrency market is witnessing an array of developments worldwide, marked by varying growth rates and adoption levels across different countries. However, the United Arab Emirates (UAE) stands out as a significant player in the global crypto ecosystem, showcasing remarkable growth and diversification that defies typical patterns. Drawing upon insights from a recent Chainalysis report,
In July, WazirX, one of India’s leading cryptocurrency exchanges, fell victim to a hacking incident that resulted in the loss of a staggering $230 million in digital assets. Recent analyses conducted by Arkham Intelligence reveal that the hacker is nearing the completion of laundering the stolen funds, with only $6 million worth of Ethereum (ETH)
In recent years, the financial sector has witnessed a significant transformation with the rise of cryptocurrencies. Traditional banking institutions have been cautious in their approach, primarily due to regulatory risks and the nascent nature of digital assets. However, BNY Mellon, one of the largest investment banks in the United States, has taken notable steps to
In a significant maneuver within the cryptocurrency landscape, Kraken, a major player in the global crypto exchange arena, has successfully acquired Coin Meester (BCM), an established Netherlands-based crypto broker recognized for being one of the country’s oldest registered entities. This acquisition, publicly announced on September 24, not only reinforces Kraken’s operational presence in the Dutch
On September 20, 2023, BingX, a prominent cryptocurrency exchange, acknowledged a “minor asset loss” due to suspicious outflows detected from its hot wallets. In the early hours of the morning, around 4:00 A.M. Singapore time, the exchange revealed that it was grappling with a security breach that prompted urgent action. The extent of the financial
In a notable turn of events, the US Securities and Exchange Commission (SEC) has formally requested a four-month extension for completing the fact discovery phase in its contentious lawsuit against cryptocurrency exchange Coinbase. This request, a significant moment in an already protracted legal saga, was communicated to Judge Katherine Polk Failla on September 18, 2023.
In a notable testimony submitted to the House Financial Services Subcommittee on Digital Assets, Robinhood’s Chief Legal Officer, Daniel Gallagher, took a hard stance against the U.S. Securities and Exchange Commission’s (SEC) approach to cryptocurrency regulations. This testimony reflects a growing concern within the digital assets sector regarding the clarity and effectiveness of existing regulatory
In recent developments surrounding the Indian crypto exchange WazirX, Binance has publicly distanced itself from the turmoil afflicting the platform. The exchanges follow a significant incident involving a $235 million hack in July, which has left many users of WazirX facing unbearable financial losses. On September 17, Binance issued a resolute statement countering claims made
