Tag: Exchange

Binance CEO Says Exchange Recovered $450 Million From the Curve Finance Attack – Bitcoin News

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Following the recent Curve Finance attack, Binance CEO Changpeng Zhao announced that the exchange had recovered $450 million from hackers. The decentralized finance (defi) platform Curve saw roughly $570 million siphoned from the application on August 9. Binance Boss Says Exchange Froze 83% of the Curve Finance Hack Funds, Domain Provider Says Exploit Was DNS Cache Poisoning Four days ago, the crypto community was made aware that the Curve Finance front end was exploited. Curve fixed the situation but $570 million was removed from the defi protocol. The attackers, however,…

Philippines’ Unionbank to Support Cryptocurrency Exchange via Mobile App – Finance Bitcoin News

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Union Bank of the Philippines, commonly known as Unionbank, has announced the upcoming launch of another crypto service for its clients. The financial institution will offer select users of its mobile app the option to exchange bitcoin and other digital currencies without a separate wallet. Unionbank to Add In-app Crypto Exchange Feature, Reportedly a First in the Philippines The Union Bank of the Philippines (Unionbank) is working to become the first universal bank in the country to facilitate cryptocurrency exchange within its mobile application. Users will be able to buy…

Embattled Crypto Futures Exchange Files for Restructuring Amid Ongoing Legal Battle

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Crypto futures exchange CoinFLEX is reportedly seeking court approval for a restructuring plan as it faces financial trouble following a substantial default by one of its customers. Citing an email sent to CoinFLEX creditors on August 9th, Fortune reports that the embattled firm filed to the Seychelles Supreme Court an application for the reorganization and restructuring of the company. CoinFLEX issues the notice in compliance with a court order and as prescribed by the IBC Act, Seychelles’ law governing international business companies (IBCs). “Notice is given to the creditors of…

Digital Assets Exchange Crypto.com Adds New Support for Surging, Under-the-Radar Altcoin

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Singapore-based digital asset exchange Crypto.com is continuing its listing spree and rolling out support for another red-hot altcoin. On Thursday, the exchange listed the native asset of Gnosis (GNO), a protocol built on Ethereum (ETH) that’s designed as a decentralized prediction market. GNO, which is used for transferring value and validating transactions on the Gnosis network, is trading at $182.10 at time of writing. The 113th-ranked crypto asset by market cap is up more than 1.5% in the past day and more than 17.5% in the past week. GNO is…

New Crypto Exchange Platform Bitflex Launches Futures Trading Competition with $15,000 Prize Pool – Press release Bitcoin News

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press release PRESS RELEASE. Seychelles, August 2022 – Bitflex Ltd., a secure crypto trading exchange currently specializing in crypto derivatives, has announced the launch of a new trading competition with a prize pool of $15,000. From August 5 to September 9, new and existing users on the Bitflex platform can participate in the event for a chance to win rewards. Trade More, Win More With up to 15,000 USDT worth of prizes, the Trading Competition is an important part of Bitflex’s vision to reward its early users and get new…

Brazilian payment app PicPay launches crypto exchange with Paxos

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Major Brazilian payment application PicPay is moving into cryptocurrencies by integrating a crypto exchange service allowing users to buy Bitcoin (BTC) and Ether (ETH). The firm officially announced on Wednesday that PicPay clients can now buy, sell and store two major cryptocurrencies, BTC or ETH, directly on its app. PicPay pointed out that its choice was due to the real use cases provided by these digital assets, including security and many other benefits. The firm stated: “Blockchain technology, which is behind coins like Bitcoin and Ethereum, is already used in…

Crypto Exchange Hotbit Suspends Service After Law Enforcement Freezes Its Funds, Subpoenas Senior Managers – Exchanges Bitcoin News

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Crypto exchange Hotbit has announced the suspension of trading, deposits, withdrawals, and funding on its platform. The exchange said law enforcement has frozen some of its funds and subpoenaed some senior managers as they investigate a criminal case involving the exchange’s former employee. Hotbit Suspends Trading, Deposits, Withdrawals Cryptocurrency exchange Hotbit announced the suspension of its services on Wednesday. The company wrote: We regret to inform you that Hotbit will have to suspend trading, deposit, withdrawal and funding functions. The exact time of resumption cannot be determined at the moment.…

Coinbase Shares Drop As Crypto Exchange Reports $1.1 Billion Net Loss in Q2

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The price of Coinbase (COIN) is dropping after the publicly-traded crypto exchange operator reports losses of over $1 billion in the second quarter of the year. In its latest letter to shareholders, Coinbase says that from April to June 2022, the firm suffered a net loss of $1.1 billion, which includes $446 million in total non-cash impairment charges related to its crypto and ventures investments. “Absent these non-cash impairment charges, net loss would have been $647 million. In Q2 [the second quarter], Adjusted EBITDA [earnings before interest, taxes, depreciation, and…

Indian law enforcement accuses WazirX exchange of aiding in laundering of $130M

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India’s Enforcement Directorate (ED), the agency responsible for financial crimes, is looking at cryptocurrency exchanges suspected of processing transactions that sent more than 10 billion rupees, or about $130 million, from firms under investigation to international wallets. At least ten crypto exchanges are allegedly involved, according to an official who spoke to The Economic Times, and bank accounts of exchange WazirX have been frozen, the newspaper reported. Transactions of up to 1 billion rupees, or $1.3 million, were allegedly made in the names of people with no connections to the…