Has Cryptocurrency Exchange Bitsane Pulled an Exit Scam?

Has Cryptocurrency Exchange Bitsane Pulled an Exit Scam?

A lot of things are happening in the world of cryptocurrency. While not all of these developments are prominent or even positive, it is important to keep tabs on everything that is going on. It now appears the Bitsane exchange has become defunct and they may have stone customer funds in the process.  What is Going on With Bitsane? Not everyone in the cryptocurrency world will be familiar with the name Bitsane.
Cryptopia’s Lack of a Backup Database can Cost Users Another $2 Million

Cryptopia’s Lack of a Backup Database can Cost Users Another $2 Million

There is never a shortage of controversy in the cryptocurrency world. Following its hack earlier this year, there have been a lot of questions regarding Cryptopia and how things would move on from there. So far, it seems little to no real progress has been made, and things are even worse than initially assumed. In a recent reveal, it became apparent the company doesn’t even have a backup of its hacked database, as that is controlled by a third party. That third party is owed some money by the exchange as well.
Cryptopia Turns to a U.S. Court for Account Holder Data Protection

Cryptopia Turns to a U.S. Court for Account Holder Data Protection

In the latest development over its security breach, cryptocurrency exchange Cryptopia has filed for bankruptcy protection in the U.S. The New Zealand-based exchange, which has been dealing with the fallout of a January 2019 hack, went into liquidation and stopped all trading earlier this month. Cryptopia's assigned liquidator, Grant Thornton, then petitioned the Southern District of New York’s bankruptcy court to seek recognition of this liquidation and protect exchange data stored on servers by a firm in Arizona.
LocalBitcoins Denies Service to Iranian Users

LocalBitcoins Denies Service to Iranian Users

The popular peer-to-peer bitcoin trading network LocalBitcoins has shut down all trading operations for Iranian users. LocalBitcoins’ website offers a variety of pages for users of different nations and, as of May 24, 2019, the Iranian page displays a message that “LocalBitcoins is currently not available in your selected region,” in English only. In an official correspondence regarding the update, a representative of LocalBitcoins confirmed that Iranians can no longer access the service.
Founder of Defunct Cryptopia Launches New Crypto Exchange

Founder of Defunct Cryptopia Launches New Crypto Exchange

The founder of defunct cryptocurrency exchange Cryptopia, which entered liquidation following a hack in January 2019, has launched a new exchange called Assetylene. The LinkedIn employment history for the founder of the failed New Zealand exchange, Adam Clark, indicates that he’s been working on Assetylene since September 2018, which is also when the exchange’s Twitter account went live.
Cobinhood Isn’t Pulling an Exit Scam Following DXN Price Collapse

Cobinhood Isn’t Pulling an Exit Scam Following DXN Price Collapse

There appear to be numerous conflicting pieces of information regarding the Cobinhood cryptocurrency exchange. While it is evident for everyone to see the company is struggling, tales of its exit scam are vastly overstated. Moreover, there is plenty of DXN token drama, which also affects this trading platform at an unfortunate time. There are still a lot of unanswered questions, but it seems the company will continue to operate for the foreseeable future. Contents 1 The Cobinhood Story Escalates 2 The DEXON Token Listing 3 DXN and COB Prices Collapse 4 The Bankruptcy Claims are Real The Cobinhood Story Escalates Anyone who has kept a close eye on what is happening to Cobinhood may have noticed the company is struggling.
Huobi Launches OTC Trading Desk

Huobi Launches OTC Trading Desk

With blockchain week in  full swing, many projects and companies throughout the space have come armed to share major announcements and developments with the space. Among the most recent launches comes from top cryptocurrency exchange, Huobi. At the “Breakfast with Huobi” meetup on the morning of May 14th in New York City, executives from Huobi Group, the company behind major exchange Huobi, shared some updates and expectations for different components of their crypto-finance ecosystem.
Binance Hacked for $40M, CEO Backpedals on Recoup Via Block Reorganization

Binance Hacked for $40M, CEO Backpedals on Recoup Via Block Reorganization

Chinese crypto exchange Binance suffered a major hack on Tuesday, which the company’s CEO responded to by proposing a rollback of the Bitcoin blockchain to rectify — a suggestion that riled up the community. The company formally notified the public via an announcement on the evening of May 7, 2019, claiming that the hackers had employed a diverse range of tactics from outright viruses to social engineering techniques such as phishing scams.
Binance Teams Up With Elliptic to Bolster AML Compliance

Binance Teams Up With Elliptic to Bolster AML Compliance

As part of its efforts to be regulatory compliant, Malta-based crypto exchange Binance has partnered with Blockchain startup Elliptic. According to a Coindesk report, the partnership will help Binance mitigate anti-money laundering (AML) concerns as it expands into new regions.
“Publicly Traded Crypto Exchange” Bitcoin Generation Hit by SEC Sanctions

“Publicly Traded Crypto Exchange” Bitcoin Generation Hit by SEC Sanctions

An official announcement published on April 29, 2019, has revealed that the United States Securities and Exchange Commission (SEC) has temporarily suspended the trading of shares in Bitcoin Generation (BTGN), a blockchain-based company out of Oklahoma. The company also operates a crypto exchange platform that supports popular cryptocurrencies, and it bills itself as the “first publicly traded cryptocurrency exchange.
FinCEN Issues First-Ever Civil Penalty Against Bitcoin Exchange

FinCEN Issues First-Ever Civil Penalty Against Bitcoin Exchange

The Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Department of the Treasury, has imposed its first-ever penalty on a peer-to-peer crypto exchange for violating AML regulations, among other violations. FinCEN announced the penalty on its website on April 18, 2019, declaring that it had levied a civil money penalty against bitcoin trader Eric Powers for “[failing] to register as a money services business (MSB), [having] no written policies or procedures for ensuring compliance with the BSA [Bank Secrecy Act], and [failing] to report suspicious transactions and currency transactions.
Gibraltar Blockchain Exchange Appoints New CEO

Gibraltar Blockchain Exchange Appoints New CEO

Gibraltar Blockchain Exchange (GBX) has appointed in-house Head of Business Development Kurt Looyens, as its new CEO. Looyens formerly held the position of Country Executive at ABN AMRO Bank in Spain, and he will be taking over from Nick Cowan, as the latter transitions into his role as CEO of the Gibraltar Stock Exchange (GSX) Group. The move is one that is coming at a crucial time for the regulated token sale platform and digital asset exchange, as its digital asset platform is on the verge of listing new tokens.
Coinbase Provides Wider Support for Crypto-to-Crypto Conversions

Coinbase Provides Wider Support for Crypto-to-Crypto Conversions

Crypto exchange platform Coinbase has announced that it will be expanding its crypto-to-crypto trading service to more countries. In the announcement, Coinbase explains that cryptocurrencies are in a transition period, which will see them move from being investment options to utilities. According to the exchange, the enablement of crypto-to-crypto conversions will serve as “the backbone of this new decentralized economy.
Kraken Delists Bitcoin SV Following Online Poll from Over 70,000 Users

Kraken Delists Bitcoin SV Following Online Poll from Over 70,000 Users

U.S.-based cryptocurrency exchange Kraken has delisted Bitcoin SV (BSV), per an official announcement on its blog. In the announcement, the exchange noted that the digital asset had exhibited behavior opposite to its standards and those of the wider crypto community. “Over the last few months, the team behind Bitcoin SV have engaged in behaviour completely antithetical to everything we at Kraken and the wider crypto community stands for,” the post reads.
Gemini Exchange Announces Full Adoption of the SegWit Protocol

Gemini Exchange Announces Full Adoption of the SegWit Protocol

Per an official announcement, the cryptocurrency exchange Gemini Trust has confirmed full integration of Segregated Witness (SegWit) addresses to its wallet infrastructure. Gemini hopes its users will benefit from improved processing times and lower bitcoin withdrawal fees.
Binance Delists Bitcoin SV

Binance Delists Bitcoin SV

The cryptocurrency exchange Binance is officially removing Bitcoin SV (BSV) from its trading options, according to a company blog post. The delisting comes after Binance CEO Changpeng Zhao (aka CZ) threatened to delist the Bitcoin Cash fork coin in response to Craig S.
Bitcoin Trader Sentenced to Two-Year Prison Term

Bitcoin Trader Sentenced to Two-Year Prison Term

Bitcoin trader Jacob Burrell Campos was sentenced on April 8, 2019, to serve a two-year prison sentence and to forfeit more than $800,000 “for operating an unlicensed money transmitting business.” The U.S. Department of Justice (DOJ) announced the conclusion of this case on its official website, claiming that Campos had already been in custody without bail for eight months prior to this verdict.
Bittrex Goes on the Offensive After BitLicense Rejection

Bittrex Goes on the Offensive After BitLicense Rejection

Bittrex, a United States–based cryptocurrency exchange platform, has issued a response to the recent setback in its plans to expand to New York. Yesterday, the New York State Department of Financial Services (NYDFS) rejected the exchange's BitLicense application, a requirement for offering crypto-based services to New Yorkers. NYDFS also published a letter addressed to Bittrex CEO Bill Shihara, where it cited inadequate Anti-Money Laundering (AML), Know-Your-Customer (KYC) and Office of Foreign Assets Control (OFAC) standards as reasons for its denial.
Bitfinex Scraps Its $10,000 Minimum Balance Rule

Bitfinex Scraps Its $10,000 Minimum Balance Rule

Bitfinex is now open to every trader as the Hong Kong-based cryptocurrency exchange has removed its $10,000 minimum balance rule. Citing a rising demand from retail traders who couldn't trade on the platform due to the requirement, Bitfinex CEO Jean-Louis van der Velde said the platform is now ready for a “new wave of customer accounts,” according to a company Medium post.
QuadrigaCX Starts Bankruptcy Proceedings

QuadrigaCX Starts Bankruptcy Proceedings

It’s been a long and winding road with many twists and turns for the beleaguered cryptocurrency exchange QuadrigaCX and its 115,000 former users who are owed roughly $190 million. On April 8, 2019, the case reached a critical fork in the road as a court, recognizing that attempts to restructure the exchange have failed, appointed business services firm Ernst & Young as the exchange’s Trustee in Bankruptcy to watch over bankruptcy proceedings.
Binance Announces Singapore Expansion, Details Around DEX Launch and Wallet

Binance Announces Singapore Expansion, Details Around DEX Launch and Wallet

The China-based crypto exchange giant Binance has announced that it will launch Binance Singapore this month, a fiat-to-crypto exchange with support for the Singaporean Dollar (SGD). Binance offered few details in the Twitter announcement except for the explicit confirmation that the exchange will be operational within a matter of weeks.
Bitpanda Receives Payment License from the European Union

Bitpanda Receives Payment License from the European Union

In an official blog post published on April 4, 2019, the Viennese cryptocurrency brokerage platform Bitpanda confirmed that it has received a license to operate as a payment service provider in Austria. Specifically, Bitpanda received the Payment Services Directive 2 (PSD2) license, an order that provides oversight into the operation of service providers in both the European Economic Area (EEA) and the European Union.
In Fourth Report, QuadrigaCX Court Monitor Recommends Bankruptcy Proceedings

In Fourth Report, QuadrigaCX Court Monitor Recommends Bankruptcy Proceedings

QuadrigaCX monitor Ernst & Young suspects that the beleaguered exchange’s late CEO, Gerald Cotten, may have been financing personal expenditures with company funds, and it is now recommending that the assets in Cotten’s estate be placed under a preservation order.
Coincheck Launches Bitcoin OTC Trading Desk 15 Months After Hack

Coincheck Launches Bitcoin OTC Trading Desk 15 Months After Hack

The Tokyo-based cryptocurrency exchange Coincheck has launched a Bitcoin over-the-counter (OTC) trading service for its users, per a post published on its official blog. The platform’s OTC trading desk will serve the needs of large-scale and institutional investors that want to trade large volumes of digital assets. Trading starts from 50 BTC (worth about $207,900 USD at press time) via Coincheck’s web interface.
Zebpay Integrates Bitcoin Lightning Payments on Its Mobile App

Zebpay Integrates Bitcoin Lightning Payments on Its Mobile App

Malta-based cryptocurrency exchange Zebpay now supports Lightning payments. The exchange announced the news via a blog post, where it claims to be the "first major exchange" to enable Lightning payments for its users. Per the report, Zebpay users can now login into their wallet and use their bitcoin balances to make micro-purchases for free.