Tag: Binance

OFAC Blacklists Binance Wallets Traceable to North Korea

OFAC claims that at least $2 million worth of cryptocurrencies was moved through wallets to fund North Korea’s weapon of mass destruction (WMD) programs. The Treasury’s Office of Foreign Assets Control (OFAC) says it has sanctioned several crypto wallets that have links to North Korea. According to a Tuesday statement, the wallets were being hosted on the crypto exchange Binance. Although the crypto exchange may not have directly controlled the wallets since any user could have signed up for them. OFAC Identifies Addresses of Wallets US officials have traced the…

Reports suggest Binance mixed customer and company funds

Binance, the world’s largest cryptocurrency exchange company, finds itself in the spotlight following accusations that it has been mixing customer funds with company revenue, allegedly violating U.S. financial rules. The claims were raised by three independent sources, who disclosed to Reuters that the dubious activities allegedly occurred in 2020 and 2021, involving billions of dollars. One case reported that Binance combined $20 million from a corporate account with $15 million from a customer account on Feb. 10, 2021. The alleged actions prompted three former U.S. regulators to assert that Binance…

AI deepfakes are getting better at spoofing KYC verification: Binance exec

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Deepfake technology used by crypto fraudsters to bypass Know Your Customer (KYC) verification on crypto exchanges such as Binance is only going to get more advanced, Binance’s chief security officer has warned. Deepfakes are made using artificial intelligence tools that use machine learning to create convincing audio, images or videos featuring a person’s likeness. While there are legitimate use cases for the technology, it can also be used for scams and hoaxes. Deep fake AI poses a serious threat to humankind, and it’s no longer just a far-fetched idea. I recently…

Bitget joins Binance in obtaining regulatory approval in Poland

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitget, a cryptocurrency exchange, successfully obtained a regulatory license to operate in Poland. The new approval enables Bitget to expand its operations in the European Union (E.U.) region but also ensures adherence to local and international laws. The future is regulation In a tweet sent out on May 23, 2023, Bitget announced it has secured virtual asset service provider (VASP) registration in Poland, joining the major exchange, Binance, which registered in January. In accordance with Polish…

Crypto Investor Justin Sun Moves $4.3M of MakerDAO’s MKR to Crypto Exchange Binance

CryptoX – Cryptocurrency Analysis and News Portal The spot market of MKR is thin and illiquid, meaning that a large sell order can significantly move the token price. A sell order for 525 MKR on the MKR/USDT pair on Binance, the most liquid market for the token, may cause a 2% price decline, according to Cryptowatch data. Source The post Crypto Investor Justin Sun Moves $4.3M of MakerDAO’s MKR to Crypto Exchange Binance appeared first on CryptoX. CryptoX Portal

Dash (DASH) Blockchain Halts, Binance Pool Suspends Mining Rewards

Several hours later, Dash Core developer Pasta tweeted that the devs had identified issues and were working on a fix. “There are two options we are investigating, and everyone is focused on promptly resolving this issue,” Pasta wrote, adding that the planned release of the latest Dash Core client update, v19, might be delayed to resolve the issues first. Source link

Binance provider in Brazil gets payment institution approval

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Latam Gateway, the payment provider for Binance in Brazil, has been granted a license by the country’s central bank to operate as a payment institution and electronic money issuer on May 19, according to local media reports. Brazil is among Binance’s top global markets, the exchange said in a previous announcement. Latam Gateway helps foreign companies to operate in Brazil by providing on/off ramps with the Brazilian real. According to the company’s website, Binance is the only crypto client in the country. Other relevant clients include gaming-related companies such as…