Tag: Exchange

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

Bitcoin falls below $66k, exchange activity rises

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Bitcoin (BTC) has witnessed a strong bearish momentum after three days of consolidation, leading to its price fall below the $66,000 mark. Bitcoin is down by 0.9% in the past 24 hours and is trading at $65,600 at the time of writing. The asset’s market cap also dropped below the $1.3 trillion mark for the second time this month. Bitcoin’s daily trading volume, however, increased by 125%, reaching $36.3 billion. BTC price, RSI, exchange activity and exchange balance as of Jun. 18 | Source: Santiment According to data provided by…

Australian Securities Exchange (ASX) Gives its First Approval of a Spot Bitcoin Listing to VanEck

Unlike in the U.S., in Australia, firms require the approval of the regulator, the Australian Securities & Investments Commission (ASIC), and then the exchange listing the product. In May, ASIC told CoinDesk via an email that DigitalX Ltd., VanEck and BetaShares either had “the relevant licence themselves or are working with another firm that has the requisite licence.” Source

Japanese Regulator Issues Warning to Unregistered Crypto Platform Lbank Exchange

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The Financial Services Agency (FSA) of Japan issued a warning to Lbank Exchange, an overseas cryptocurrency platform, for operating without registration. Lbank, which ranks 56th in trading volume according to Coingecko, has been offering services to Japanese residents despite reportedly having an unknown address and representative. This action follows similar warnings issued by the FSA […] Source