Tag: Exchange

Top US Crypto Exchange Coinbase Adds Trading Support for New Under-the-Radar Layer-1 Project

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Customers at Coinbase can now trade the native token of a nascent layer-1 project called Vara Network (VARA). The top US crypto exchange rolled out support this week for VARA, the native asset of Vara Network, which just celebrated its mainnet launch on Wednesday. The project is an independent decentralized layer-1 network that aims to enable “the best playground” for next-gen gaming and financial-based applications. It’s built on the Gear Protocol, a Substrate-based smart-contract platform. Says the Vara website, “Building on Vara Network is ideal for both developers already in…

Bankrupt FTX Exchange Turns Its Attention To Employees, Here’s How Much It Wants

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It’s been almost a year since the collapse of FTX, but the failed crypto exchange continues to be surrounded by drama. In a flurry of moves to claw back funds for investors, FTX lawyers are now going after employees of Salameda Ltd.  According to court filings, the employees of Salameda – a Hong Kong-incorporated entity allegedly controlled by former FTX CEO Bankman-Fried, named as defendants were prioritized over other customers as many raced to withdraw their assets from the exchange before its imminent crash on November 11, 2022.  FTX Wants…

ImmutableX (IMX) Up 38% as South Korean Exchange Volume Spikes

The rapid increase in the value of Immutable’s IMX token has attracted not only the interest of crypto fans but also remarks from industry experts. In a surprising turn of events, ImmutableX (IMX) is experiencing a remarkable surge of 38.1% in just a few hours this morning following a corresponding trading volume spike. Recent data from CoinGecko revealed that IMX went from a modest $0.55 to an impressive peak of $0.76. The Driving Force Behind the ImmutableX Volume Surge The rapid increase in IMX’s price can largely be attributed to…

Crypto Exchange JPEX Moves to Deregister Australia Entity, HK Blocks Access

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The troubles of the crypto exchange JPEX can be sensed from its latest move to deregister its local entity in Australia. According to a Cointelegraph report, Jieyi Chen, a Director of JP-EX Crypto Asset Platform PTY LTD (JPEX), has already filed a deregistration application with the Australian financial regulator. Although there is no official confirmation, the deregistration application reportedly claims that all members of the entity agreed to the move as the company is no longer conducting any business. Further, it highlighted that the Aussie entity has less than AU$1,000…

Exchange Set To Resume Deposits And Withdrawals After Exploit

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CoinEx, a cryptocurrency exchange, has announced plans to resume its deposit and withdrawal services. The crypto platform was forced to shut down operations after roughly $70 million worth of cryptocurrencies were drained from its hot wallets a week ago. On Saturday, September 16, the CoinEx team offered an update on their investigation, which showed that 18 different crypto assets, including BTC, ETH, XRP, and BCH, were stolen from the exchange. The exchange, however, asserted that assets in its cold wallets were not affected by the September 12 attack. Furthermore, CoinEx…

Troubled crypto exchange JPEX applies for deregistration in Australia

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Troubled Hong Kong crypto exchange JPEX has applied for deregistration in Australia. According to a filing seen by Cointelegraph on Sept. 20, Jieyi Chen, director of JP-EX Crypto Asset Platform PTY LTD (JPEX), has filed a deregistration application with the Australian Securities and Investment Commission. In the filing, JPEX claims that all members of the company agree to the deregistration, the company is no longer carrying business, its assets do not exceed $1,000 Australian dollars, and it carries no liabilities. On Sept. 13, during the Token2049 conference in Singapore, the…

Ethereum ICO Participant Moves $9,960,000 Worth of ETH to Crypto Exchange Kraken: On-Chain Data

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An original Ethereum (ETH) investor deposited 6,000 ETH worth $9.96 million to the crypto exchange Kraken on Monday, according to the crypto tracker Lookonchain. The whale participated in Ethereum’s 2014 initial coin offering (ICO), receiving 254,908 ETH when the second-largest crypto asset was only priced at $0.31. With ETH trading at $1,647 at time of writing, that means the value of that trove of 6,000 ETH shot up by a staggering 531,361% as it sat in the whale’s care for nine years. Blockchain-tracking service Etherscan indicates that the deep-pocketed investor…

Parents of Sam Bankman-Fried Sued by FTX Estate Over Allegedly Siphoning Funds From Crypto Exchange: Report

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The parental guardians of former FTX CEO Sam Bankman-Fried are reportedly being sued by the crypto exchange’s bankruptcy estate for allegedly misappropriating funds. According to a new article from the Financial Times, Joseph Bankman and Barbara Fried are being sued by the FTX estate over allegedly siphoning funds from the now-bankrupt exchange. Says prosecutors, “As early as 2018, Bankman described Alameda as a ‘family business’ — a phrase he repeatedly used to refer to the FTX Group.” However, Bankman and Fried’s lawyers say the allegation is “a dangerous attempt to intimidate…

Crypto Exchange CoinEx Promises Generous Bug Bounty Reward to Hacker Following $70,000,000 Exploit

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Days after suffering a security breach, crypto exchange CoinEx is attempting to reach out to the hackers responsible for the incident. In an open letter to the hackers, CoinEx says it is ready to reward the perpetrators of the theft with a “generous bug bounty” if the stolen assets are returned. “We hope you recognize the impact of this event on each one of those users. We would appreciate it if you understand the concerns and frustrations of these affected users. We sincerely invite you to work with us to resolve…

FTX founder’s parents sued, accused of stealing millions from crypto exchange

Debtors of the bankrupt cryptocurrency exchange FTX have launched action against the parents of FTX founder Sam Bankman-Fried, alleging that they misappropriated millions of dollars through their involvement in the exchange’s business. The counsel for FTX debtors and debtors-in-possession, represented by the law firm Sullivan & Cromwell, on Sept. 18 filed a lawsuit against SBF’s parents, Joseph Bankman and Barbara Fried. The plaintiffs argued that Bankman and Fried exploited their access and influence within the FTX empire to enrich themselves at the expense of the debtors in the FTX bankruptcy…