Tag: Token

Ripple’s XRP Token Plummets to $.001 on Bitrue Exchange, Leaving Traders Bewildered

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Ripple’s XRP token momentarily plummeted to $0.001 on the Bitrue cryptocurrency exchange today. The sudden decrease in value has caught the attention of many in the industry. The unexpected decline of XRP has resulted in all traders and investors on the Ripple network experiencing an abrupt liquidation of their investments. This sudden fluctuation in value has raised questions about the cause of the drop. Some speculate that it was due to a technical glitch, while others suggest it could be a problem with the exchange itself. Bill Morgan has claimed…

Ordinals Finance steals $1m from users, OFI token crashes 95%

Ordinals Finance, a platform on Ethereum that allowed users to trade Bitcoin Ordinals’ inscriptions, has deleted their Twitter and Telegram handles and rugged users off $1 million, as per CertiK, a blockchain security firm. In a tweet on late April 24, CertiK said the anonymous team behind Ordinals Finance withdrew roughly $1 million of OFI, the platform’s native token, after activating two functions on the deploying smart contracts, causing losses to OFI holders and forcing the token’s price to plunge by over 95%. An analysis of the rug pull reveals that the…

Bitget’s Native Token BGB to be Listed on Bitfinex, Driving Liquidity and Accessibility – Sponsored Bitcoin News

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sponsored Victoria, Seychelles, April 24, 2023 – Bitget, the largest crypto copy trading platform, announced that its native platform token BGB will be listed on Bitfinex, driving liquidity and accessibility while increasing its value and utility. The supported trading pair is BGB/USDT, and the trading service will be opened at Bitfinex. BGB is a utility token that plays a vital role in Bitget’s ecosystem, with a circulating supply of 1,400,000,000 BGB coins and a total supply of 2,000,000,000. It provides users with access to exclusive privileges and various rights on…

OKX staff issues clarification amid ‘shell token’ purchase inquiries

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According to a post on Apr. 24, cryptocurrency exchange OKX does not support the buying and selling of “shell tokens” listed on the exchange. The clarification came after OKX staff member Haiteng shared a series of WeChat conversations where an individual allegedly approached OKX staff to purchase “shell tokens,” or as the individual described: “[Tokens] Listed on OK, but project can operate no longer. Someone wishes to take over such projects.” Another message reads: “Find an OKX shell token; budget is $1.5 million, deposit has been collected, DM me the…

LUNA token is not a security, rules S.Korean court in Terra co-founder case

A South Korean district court has dismissed charges of security violations against former Terraform Labs CEO and co-founder Hyun-seong Shin. The court deemed LUNA (LUNA) (the native token of the LUNA ecosystem) as non-security under Korea’s Capital Markets Act. The southern district court in Seoul dismissed the prosecution’s appeal for confiscating Shin’s properties and his arrest based on securities law violations. The prosecution argued that Luna’s fraudulent transactions breached Capital Market Act in addition to crimes involving property (fraud), making property confiscation a possibility, reported a local daily. A google…

FIX Protocol Adds Support for Digital Token Identifier (DTI) ISO Standard

“Adding the DTI standard to the FIX Protocol was an easy decision as the DTI extends the existing functionality to the world of digital assets, which helps the market evolve to work with this asset class,” Jim Kaye, executive director at FIX, said in the press release. “We can see many benefits of adding the DTI, including making it easier for the industry to audit their transactions and increase transparency, thereby bringing more efficiencies to the market.” Source

SEC wins $2.8M in suit over alleged crypto token price manipulation

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A seven-month-long lawsuit between the United States securities regulator and a firm alleged to have manipulated the price of cryptocurrencies has come to a close with a $2.8 million payment. On April 20, a New York District Court Judge ruled against Hydrogen Technology Corporation and its former CEO Michael Ross Kane in a suit brought by the Securities and Exchange Commission (SEC), ordering them to pay $2.8 million in remedies and civil penalties. The sum comprises approximately $1.5 million in “disgorged” profits — which refers to gains made from unlawful…