The vulnerability of cryptocurrency exchanges to cyber attacks has once again been highlighted by the recent revelation from UPbit, a prominent South Korean exchange. Data shared by UPbit’s operator, Dunamu, with South Korean politician Rep. Park Seong-jung, exposes a staggering surge in hacking attempts. During the first half of this year alone, UPbit experienced a
Exchanges
A recent report by whistleblower platform Crypto Leaks has put crypto intelligence firm Arkham Intelligence in the hot seat. The report accuses the company of exploiting vulnerabilities at major exchanges to obtain users’ personal information without their consent. The allegations stem from video testimony given by a purported former Arkham engineer, who claims that the
An investigative report recently published by Forbes has shed light on potential discrepancies in the initial coin offering (ICO) conducted by Binance, one of the leading cryptocurrency exchanges. The report suggests that Binance may have overstated the success of its ICO for Binance Coin (BNB) back in 2017, raising questions about the accuracy of its
In a recent revelation, it has been reported that some employees of FTX, a prominent cryptocurrency exchange, were aware of a backdoor that allowed Alameda, a trading firm, to withdraw customers’ funds. This shocking revelation brings to light the potential misuse of customer assets and raises serious concerns about the security and integrity of the
JPEX, a cryptocurrency exchange based in Hong Kong, has recently come under fire for restricting user withdrawals in a rather unconventional way. Instead of simply freezing accounts or imposing limits, JPEX has reportedly converted user balances into a non-withdrawable cryptocurrency called JPC. This move has left users unable to access their crypto assets, causing frustration
India is making significant strides in the realm of cryptocurrency regulation, with the development of a comprehensive global database that includes all crypto exchanges, including those on the dark web. This proactive initiative aims to enhance the detection and prevention of cryptocurrency-related crimes and is expected to launch by the end of the fiscal year
Coinbase, one of the leading cryptocurrency exchanges, has recently obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license will enable Coinbase to significantly expand its payment services within the country. The approval from the regulator comes almost a year after Coinbase received an in-principle approval. The MPI license
Hong Kong, known as a global financial hub and a gateway to China, has been shaken by a massive cryptocurrency scandal involving JPEX. The Dubai-based exchange is accused of defrauding thousands of investors out of more than $160 million. This scandal has exposed significant regulatory loopholes and the lack of investor protection in Hong Kong’s
Gemini, the renowned cryptocurrency exchange, recently found itself in the midst of controversy. A New York Post report accused the platform’s co-founders, Tyler and Cameron Winklevoss, of secretly withdrawing a staggering $280 million from the bankrupt lender, Genesis. These allegations raised questions about the integrity of Gemini and its handling of user funds. However, Gemini
BitMEX, a popular crypto derivatives trading platform, announced plans to reallocate funds worth up to $100 million from its insurance fund. The reallocation would involve assets such as Tether (USDT) and Ethereum (ETH), which will be converted into U.S. Dollars and held in the custody accounts of the platform’s banking partners. This article will analyze