Tag: Exchange

Miami Trio Charged With Defrauding Banks and Crypto Exchange of Over $4M

Authorities arrested Esteban Cabrera Da Corte, Luis Hernandez Gonzalez and Asdrubal Ramirez Meza Tuesday morning, alleging the group used stolen identities to purchase millions in cryptocurrencies on a “Cryptocurrency Exchange,” in 2020. The purchases were funded with bank transfers, and after buying the crypto, the men disputed the transactions with the banks, tricking them into reversing the transfers and redepositing the money into accounts controlled by the crime ring. Source BanksChargedCryptoDefraudingExchangeMiamiTrio CryptoX Portal

Exchange Giant CME’s Bitcoin Futures Just Hit a Huge Discount to Spot Prices

The report said the ProShares Bitcoin Strategy ETF (BITO) has begun rolling its August contracts into contracts that expire later, possibly causing downward pressure on the front-month contracts. Yesterday, BITO rolled over 1,000 August contracts and will roll over a further 3,000 August contracts by Friday. Previous times when the fund rolled over exposures, front-month contracts have tended to move toward discounts to spot, according to Arcane. Source

DBS bank reports 4X growth in Bitcoin buys on DDEx exchange in June

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A major cryptocurrency selloff in June 2022 has sparked more interest in Bitcoin (BTC) from institutional investors, according to data from one of the biggest banks in Singapore. The total number of trades on DDEx more than doubled in June 2022 as compared to April 2022 amid the growing investor appetite for digital assets like Bitcoin and Ether (ETH). Buy orders on DDEx accounted for 90% of all trades in June as cryptocurrencies traded at notable discounts in mid-2022, DBS said. Compared to April 2022, the amount of Bitcoin purchased…

How Did Deepfake Tech Drain a Brazilian Crypto Exchange Out of Liquidity?

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A sophisticated scam using deepfake tech managed to drain liquidity from a Brazilian crypto exchange. In June 2022, the FBI issued a warning that fraudulent investment scams on LinkedIn are rising. Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments. As LinkedIn is widely used for business networking, many find investment offers on the social media platform to be legitimate. Sean Ragan, the FBI’s special agent in charge of the San Francisco and…

South Korean financial majors want to create virtual assets exchange in 2023: Report

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Samsung Securities is among seven large South Korean securities companies that have applied for government approval to create a virtual assets exchange, according to a report in South Korean publication Newspim. The companies aim to create a corporation to open an exchange in the first half of next year. Newspim quoted an unidentified executive as saying that discussions on the project are now being finalized. According to the local coverage, Samsung Securities had been studying ways to develop and operate a securities token trading platform but was unable to recruit the…

Crypto Exchange FTX Witnessed Massive 1,000% Surge in Revenue Last Year, According to Leaked Documents: Report

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Crypto exchange FTX reportedly saw massive growth during the crypto bull run of 2021 when markets hit all-time highs. Citing information from leaked financial documents, CNBC reports that the firm generated $1.02 billion in 2021, a more than 1,000% increase from its revenue of $89 million in 2020. Operating income increased from $14 million to $272 million during the same timeframe. Net income also rose from $17 million to $388 million. The exchange held $2.5 billion in cash at the end of 2021 and profit margins for the year were…

Binance CEO Changpeng Zhao Reveals Bad Trading Behavior Plaguing One Crypto Exchange

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Changpeng Zhao (CZ), CEO of Binance, says that there is a crypto exchange that may be employing poor standards in its trading platform. CZ tells his 6.8 million Twitter followers that he recently learned the term “jitters,” which refers to a lag on trading platforms between when an order is placed and when it is executed. Sometimes, while an order is delayed, other orders are able to jump the queue and front-run them, though it’s not clear whether this is intentional or not. “Just learned a new word, jitters. On…

Hackers Used Deepfake of Binance CCO to Perform Exchange Listing Scams – Exchanges Bitcoin News

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A set of hackers managed to impersonate Binance chief communications officer (CCO) Patrick Hillmann in a series of video calls with several representatives of cryptocurrency projects. The attackers used what Hillman described as an AI Hologram, a deepfake of his image for this objective, and managed to fool some representatives of these projects, making them think Hillmann was helping them get listed on the exchange. Binance CCO Patrick Hillmann Impersonated by Third Parties Hackers and scammers are refining their methods by including more technological tools in their schemes.…

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