Following a major exploit, India-based centralized exchange WazirX has been struggling to restore its full operations. The exchange’s co-founder, Nischal Shetty, took to social media to share the challenges they are facing and the efforts being made to find a solution. With nearly half of its assets lost in the exploit, WazirX is actively seeking
Exchanges
The looming possibility of a second Trump presidency has sparked both excitement and concern within the crypto industry. While many are hopeful for a more crypto-friendly regulatory environment under Trump, there are apprehensions about the future of overseas crypto firms. According to reports, foreign exchanges like Binance, OKX, and Deribit may face challenges in their
Recently, a US court has granted Binance US permission to invest a specific amount of customer fiat funds, currently held at BitGo, in US Treasury Bills. The exchange requested court approval to invest around $40 million in increments of $10 million over four weeks. These investments will be made through a trading account on TreasuryDirect
The recent hack on India-based crypto exchange WazirX has brought attention to the security infrastructure of multiparty computation (MPC) wallet provider Liminal. In their post-mortem report released on July 19, Liminal stated that their system remained secure and was not compromised in the breach that resulted in an estimated loss of $235 million. Analysis of
Cryptocurrency exchange OKX has made a significant strategic move by selecting Malta as its Market in Crypto-Assets (MiCA) hub. This decision is aimed at serving the 450 million residents of the European Union, providing them with a platform to trade and engage in various crypto activities. OKX’s choice of Malta as its hub is strategic
Recently, the blockchain security firm Cyvers Alert made a shocking revelation regarding the Indian exchange WazirX. According to their report, WazirX was exploited for approximately $235 million. The firm detected multiple suspicious transactions involving WazirX’s Safe Multisig wallet on the ETH network, resulting in a total of $234.9 million being moved to a new address.
The recent news of OKX ceasing operations in Nigeria due to local regulations has caused a stir among Nigerian crypto users. In an email statement obtained by CryptoSlate, OKX informed its Nigerian clients that they have until Aug. 16 to close their positions on the platform. Users will no longer be able to open new
Russia’s Ministry of Finance is considering new regulations that would allow traditional exchanges to facilitate digital asset trading for specific investors. This proposal marks a significant shift in the country’s approach to cryptocurrency and blockchain technology. The proposed regulations aim to establish special guidelines for organized trading in digital currency, treating it as a commodity.
In a recent court hearing, Judge Katherine Polk Failla expressed strong criticism regarding Coinbase’s attempts to subpoena SEC chair Gary Gensler in the ongoing case against the firm. Failla specifically pointed out that Coinbase’s request included Gensler’s statements from before he assumed the role of SEC chair in 2021. The judge found this aspect of
Blockchain technology has revolutionized various industries, including finance and cybersecurity. As the adoption of cryptocurrencies continues to grow, so do the security threats associated with the crypto sector. In response to these challenges, Kraken, along with other major industry players, has co-founded the Blockchain Security Standards Council (BSSC). This nonprofit organization aims to establish uniform
Artur Schaback, one of the co-founders of Paxful Inc., recently pleaded guilty to conspiracy charges related to the failure to maintain an effective anti-money laundering (AML) program. The Department of Justice stated that Schaback’s negligence led to Paxful becoming a hub for various criminal activities, including money laundering, sanctions violations, fraud, romance scams, extortion schemes,
Olubukola Akinwumi, the deputy director of the Central Bank of Nigeria (CBN), recently accused Binance, a popular cryptocurrency exchange platform, of conducting transactions that are reserved for authorized banks and financial institutions. This accusation came to light during Akinwumi’s testimony in a lawsuit brought forth by the Economic and Financial Crimes Commission (EFCC) against Binance
Taiwan Mobile, the second-largest telecom operator in Taiwan, has recently made a significant move by applying for a license to operate as a Virtual Asset Service Provider (VASP). The company has been listed as the 26th VASP by the Financial Supervisory Commission, highlighting its compliance with Money Laundering Prevention Laws. Lin Zhichen, the General Manager
The European Banking Authority (EBA) recently made an important update to its Travel Rule guidelines, extending the scope to include crypto service providers and intermediaries. As of Dec. 30, 2024, all crypto exchanges operating within the European Union will be required to adhere to the Travel Rule guidelines outlined in EU-2023/1113. This rule mandates that