Tag: Exchange

Blockchain Security Firm Certik Returns $3,000,000 in Exploited Funds to Crypto Exchange Kraken

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A digital asset security research firm has returned $3 million in funds to crypto exchange Kraken after an unusual saga following a bug bounty program exploit. Yesterday, Kraken chief security officer Nick Percoco said in a lengthy X thread that the exchange was alerted days ago that an “extremely critical” code exploit allowing hackers to artificially inflate their funds had been discovered. “Within minutes we discovered an isolated bug. This allowed a malicious attacker, under the right circumstances, to initiate a deposit onto our platform and receive funds in their account…

FCA and Police Collaborate in Arrests over Suspected Illegal Crypto Exchange

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The Financial Conduct Authority (FCA) collaborated with the Metropolitan Police Service to apprehend two individuals, aged 38 and 44, suspected of managing an illicit crypto asset exchange. The operation was prompted by suspicions that the exchange facilitated transactions exceeding £1 billion in unregistered crypto assets. Suspects Released on Bail The FCA conducted inspections at premises linked to the suspects, where the police executed searches and seized multiple digital devices from two residential properties in London. Following these actions, both suspects were questioned under caution by the FCA and subsequently released…

Price Collapses, Exchange Supply Dries Up

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The winds of change are blowing through the Ethereum (ETH) ecosystem. Despite tentative signs of recovery after recent dips, the price has struggled to stay afloat in the last 30 days. Additionally, a more intriguing trend has emerged: a mass exodus of ETH from cryptocurrency exchanges. This movement, marked by declining exchange supply and net outflows, has analysts buzzing with potential bullish implications. Related Reading: Bitcoin Takes Control In Market Meltdown, Dominance Climbs To 9-Week Peak Dwindling Stockpiles: Exchanges Feeling The Squeeze For years, cryptocurrency exchanges have served as the…

VanEck Brings Bitcoin ETF to Australia's Main Stock Exchange

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The Australian Securities Exchange (ASX) marked a milestone on Thursday with the launch of the country’s first Bitcoin (BTC) exchange-traded fund (ETF) on its main stock market. The VanEck Bitcoin ETF (VBTC) debuted with approximately AUD990,000 ($660,429) in assets, signaling a growing appetite among investors for cryptocurrency-related products. Australia’s Main Stock Exchange Welcomes First Bitcoin ETF The launch comes after more than three years of discussions between fund managers and the ASX, as the exchange operator sought to ensure proper safeguards were in place. While the VanEck Bitcoin ETF will…

Kraken Security Officer Says Black Hat Entity Exploited Exchange for $3,000,000 Upon Finding ‘Isolated Bug’ in Code

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A Kraken executive says that a black hat entity stole $3 million from the firm after finding a bug in the exchange’s systems. In a lengthy thread on the social media platform X, Nick Percoco, Kraken’s chief security officer, says that earlier this month, Kraken received an update from their Bug Bounty program claiming there was an “extremely critical” bug that would allow hackers to artificially inflate their funds. Says Percoco, “Within minutes we discovered an isolated bug. This allowed a malicious attacker, under the right circumstances, to initiate a…

Crypto Exchange Kraken Says Hackers Used Bug Bounty Program for ‘Extortion’ After $3M Exploit

Nick Percoco, Kraken’s chief security officer, said in a post on social media platform X (formerly Twitter) that the firm received a “bug bounty program” alert from a security researcher on June 9 about a vulnerability that allows users to artificially inflate their balance. The bug “allowed a malicious attacker, under the right circumstances, to initiate a deposit onto our platform and receive funds in their account without fully completing the deposit,” Percoco added. Source BitcoincryptoexchangeExchanges CryptoX Portal

Cryptocurrency Exchange Spot Volumes Surge over 170% in a Year

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Bitcoin (BTC) has been maintaining its multi-month highs for another consecutive month, just a step away from its historical highs. It is driving investor activity and, consequently, the trading volumes of the largest crypto exchanges. In May, the spot volume for the top ten platforms exceeded $1 trillion, growing by 173% compared to the same month a year earlier. Cryptocurrency Exchange Volumes up YoY, but Falling in 2024 Looking at the statistics of the largest cryptocurrency exchanges in terms of volume, we notice that May brought the second month of…

Crypto Exchange FTX Victims View Bankruptcy Process as ‘Second Act of Theft,’ File to Recover $8B

FTX collapsed in November 2022. The lawyers said that the jury found SBF stole no less than $8 billion from FTX customers. Bankman-Fried, who was also ordered to forfeit $11 billion, plans to appeal his sentence and conviction. “If not for SBF’s crimes for which he was convicted—i.e., the theft and misuse of customer assets—the customers would have today owned their crypto investments,” the filing said. Source