Russian Hackers May Have Carried Out Largest Ever Crypto Exchange Theft

Russian hackers, not North Korean, may be the bad actors behind probably the biggest ever theft from a cryptocurrency exchange. Japanese newspaper Asahi Shimbun reports Monday that virus variants known to be linked to Russian hackers have been found on employee computers at the Tokyo-based Coincheck exchange. Coincheck suffered a breach in January 2018 that resulted in the loss of 500 million NEM tokens worth around $530 million at the time – an amount even bigger than that lost by Mt. Gox. According to the report, the malware found at the exchange…

Bitfinex Is Starting to Buy Back and ‘Burn’ Its LEO Exchange Token

Cryptocurrency exchange Bitfinex has announced a transparency initiative that will see it put on full view the buying back and “burning” of its LEO exchange token. In an announcement Friday, the firm said as part of its token redemption process, the UNUS SED LEO Transparency Initiative will allow the public to see parent firm iFinex use its gross revenues to purchase circulating LEO tokens at market rates. These will then be destroyed, or burned, as the firm effectively pays back those who bought the exchange token in a $1 billion sale early last month. Bitfinex…

Crypto Exchange Binance.com to Block US Customers from Trading

Binance.com, the world’s largest cryptocurrency exchange, is revamping its internal policies and cracking down on wayward users. The Malta-based exchange announced Friday morning that it was reviewing user accounts to ensure they follow Binance’s terms of use and know-your-customer (KYC) procedures and will remove deposit and trading permissions for anyone in violation of its policies. In an updated term of use agreement revised on June 14, the exchange’s general site notably stated that “Binance is unable to provide services to any U.S. person.” The news comes less than a day…

CryptoCompare Launches Benchmark Rankings for Exchanges

Cryptocurrency data and indices provider CryptoCompare is working to make it easier to spot good, and bad, crypto exchanges. Announced Wednesday, the company has launched a benchmark ranking of over 100 active spot exchanges from across the globe, offering users a “comprehensive, granular and reliable source of information on the best trading venues.” CryptoCompare’s Exchange Benchmark was launched to address the need for reliable metrics to evaluate the large number of cryptocurrency exchanges now offering services around the world. The firm explains: “Employing both a qualitative (due diligence) and quantitative…

Margin Lenders Lost $13.5 Million in May to Poloniex Crypto Crash

Crypto exchange Poloniex revealed in a post Thursday that lenders in its bitcoin margin lending pool suffered a loss of 1800 BTC — roughly $13.5 million at current market prices — due to a flash crash in the Clams (CLAM) market on May 26. Poloniex’s peer-to-peer margin system includes both lenders and borrowers, the lenders of which are pooled together and rewarded in interest for lending out their funds. In order for a user to borrow the margin funds being lent, he or she must hold a certain amount of…

Binance Confirms Stablecoin Offering Coming Soon: Report

Binance, the top crypto exchange by adjusted trading volume, has confirmed it will soon issue its own stablecoins. In a phone interview with Bloomberg, Binance’s chief financial officer, Wei Zhou, said the first stablecoin will be launched on the platform “in a matter of weeks to a month or two.” According to Zhou, the token will be called Binance GBP, which will be fully backed by reserves of British pounds. More coins tied to other fiat currencies will follow, he said, while Binance will also work with partners wanting to…

Crypto Exchange OKCoin Expands Trading Services to Europe

Cryptocurrency exchange OKCoin has launched in the EU, opening up euro pairs to traders for the first time. Available from Tuesday for non-U.S. users, OKCoin’s new spot trading offerings cover euro pairs with bitcoin (BTC), ether (ETH) and bitcoin cash (BCH) at launch, with more pairs planned. The firm said on its blog that until Sept. 4, euros can be deposited and withdrawn fee-free. At the same time, OKCoin has announced the opening of a new office in Malta, featuring, it says, a “tailored set of trading services and digital assets that…

The FBI Is Looking for QuadrigaCX Victims

Multiple criminal investigative agencies within the U.S. are looking into the circumstances of the now-defunct Canadian crypto exchange QuadrigaCX. According to a press release published Monday, the FBI, the Internal Revenue Service’s Criminal Investigation division (IRS-CI), the U.S. Attorney General’s office for the District of Columbia and the Department of Justice’s Computer Crime and Intellectual Property Section are investigating the exchange, which filed for bankruptcy following the death of its founder and a months-long civil rehabilitation process. The FBI published a questionnaire for victims, asking for personally identifying information, contact…

Dutch Crypto Exchange Blockport Shuts Down, Vows to Return

Blockport, a cryptocurrency exchange based in the Netherlands, has been been forced to close due to lack of operating capital, but it’s vowed to return. According to a filing reported by The Next Web, the official operating entity, Blockport BV, was declared bankrupt in a court in Amsterdam on May 21. The platform ceased services at the end of May, as announced in a blog post (although the website is still online as of writing). In the post, co-founder and chief product officer Sebastiaan Lichter said that following the exchange’s failed…

LocalBitcoins Removes Cash-for-Crypto Trading Option

Helsinki-based peer-to-peer exchange LocalBitcoins has reportedly removed the option allowing users to buy or sell cryptocurrencies in person for cash. In a Reddit post Sunday, a LocalBitcoins user pointed out the option was no longer available on the platform, though some comments suggested the restriction might be limited to the U.S.. The removal of the option – which acts as a matchmaker for users to make trades in person – effectively bars LocalBitcoin users from selling and buying bitcoin for cash. LocalBitcoins has also cancelled pending cash trades, other comments suggest. The…