Paxos “violated its obligation to conduct tailored, periodic risk assessments and due diligence refreshes of Binance and Paxos-issued BUSD customers to prevent bad actors from using the platform,” a spokesman with the regulator told Reuters, saying the token wasn’t being administered in a “safe and sound” manner.
Related posts
-
Binance CEO Richard Teng Says Crypto Exchange Has Frozen $5,300,000 in Digital Assets Linked to BtcTurk Hack
Binance CEO Richard Teng says the world’s largest crypto exchange is helping in the probe of... -
Binance CEO projects Bitcoin to surpass $80,000 by 2025; these cryptos may follow suit
Disclosure: This article does not represent investment advice. The content and materials featured on this page... -
Binance Helps Btcturk With Hack Investigations — Freezes Over $5.3M in Stolen Funds
Turkish crypto exchange Btcturk has suffered a cyber attack...