Tag: Exchange

Is Coinbase Leaving India? The Crypto Exchange Stops New Signups

boss

Coinbase (Nasdaq: COIN) is limiting its services in India with supposed full or partial termination of its services. The exchange has already suspended new signups for Indian users, redirecting them to download Coinbase Wallet, a self-custody crypto wallet, Finance Magnates verified. Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into the new age of crypto! A TechCrunch report today (Monday) revealed that Coinbase plans to cease all services for its Indian users. The exchange even sent emails to its customers…

Court Hands 11,196-Year Prison Sentence to CEO of Exchange That Collapsed With $2,000,000,000+ in Crypto: Report

boss

The chief executive of a collapsed crypto exchange has reportedly been handed a staggering prison sentence of over 11,000 years. According to a new report by Euronews, Faruk Özer, the CEO of Istanbul-based crypto exchange Thodex, has been given 11,196 years in jail for stealing $2 billion worth of crypto assets from customers. Thodex suddenly went offline in April 2021, leaving 400,000 customers without access to their funds, while Özer fled Turkey. He was caught in Albania in 2022 after Interpol issued a red notice for him. Interpol’s red notice…

Thodex Exchange CEO, Others Get 11,196 Years Jail Sentence

The court also slammed them with a judicial fine of 135 million liras ( approximately $5 million) as the case came to a close. The long arm of the law may have finally caught up with Faruk Fatih Özer, the founder of the Turkish crypto exchange Thodex which collapsed two years ago. According to a local media report, Faruk, alongside his sister Serap Özer and his brother Güven Özer have all been sentenced to 11,196 years, 10 months, and 15 days in prison. The court also slammed them with a…

CEO of Collapsed Turkish Crypto Exchange Gets 11,196 Years in Prison

boss

A court in Turkey has sentenced Faruk Fatih Özer, the founder of the collapsed Turkish crypto exchange Thodex, his sister Serap Özer, and his brother Güven Özer to 11,196 years, ten months and 15 days in prison, according to Coindesk. Further, they are also facing a judicial penalty of 135 million liras (about $5 million). Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into the new age of crypto! It was part of an extensive trial of 21 defendants facing…

Turkish crypto exchange Thodex CEO gets 11,000-year sentence for $2B scam: Report

boss

The former CEO of Turkish crypto exchange Thodex, Faruk Fatih Özer, was sentenced to 11,196 years in prison by a Turkish court on charges of “establishing, managing and being a member of an organization”, “qualified fraud”, “laundering of property values”. The Anatolian 9th High Criminal Court sentenced Ozer along with his two siblings to the same jail sentence of 11 thousand 196 years, 10 months and 15 days in prison along with a $5 million fine, reported Turkish state-run news agency, Anadolu Agency. The Turkish crypto exchange was one of…

Binance crypto exchange saw departure of 10 key executives in 2023. Here’s the list

boss

The world’s leading crypto exchange by trading volume Binance has seen the departure of 10 key executives from various departments in the first nine months of 2023. While executive departures from a company are a norm based on their preset contractual obligations, the number of executives leaving Binance amid growing regulatory troubles has been a key talking point in the crypto community. The latest to join the list is Helen Hai, the executive vice president of the crypto exchange, who announced her resignation from her post on Sept. 6. On…

HashKey signs MOU for crypto exchange insurance

boss

Users of Hashkey Exchange Hong Kong will soon be able to receive insurance protection on digital assets custodied on the platform. According to local news reports on Sept. 6, Hashkey has signed a memorandum of understanding with fintech firm OneDegree for insurance coverage on exchange wallets. The insurance policy will apply to both hot wallets and cold storage addresses. Xiaoqi Weng, COO of Hashkey, said the firm seeks to “improve the financial, technical and service infrastructure to provide customers with more comprehensive protection” and expand its contribution to Hong Kong’s…

Bitop Exchange Launches Enhanced Crypto, Stocks, Commodities and Binary Solutions

boss

September 6, 2023 – Toronto, Canada Bitop, the regulated cryptocurrency exchange, has unveiled enhancements to its core products to better meet the needs of retail and institutional clients and position itself as a primary hub for crypto, commodities, binary and stocks trading. The exchange is aiming to attract traders exploring investment options in commodities, stocks, spot and derivatives via a user-friendly platform. As traders increasingly demand access to diverse investment products, Bitop has debuted a wide range of solutions that enable its users to enjoy low fees while managing a…