Indian cryptocurrency exchange WazirX is facing unforeseen challenges as external parties not invested in the platform may attempt to prolong its restructuring process for their own gains. The exchange has recently announced a comprehensive restructuring plan following a major security breach on July 18, which resulted in losses exceeding $230 million. WazirX stated in a
Exchanges
WazirX, a popular crypto exchange based in India, recently fell victim to a cyberattack on July 18, resulting in the theft of a substantial amount of ERC-20 tokens valued at over $235 million at the time. This unfortunate event led to the platform’s decision to suspend all trading and withdrawal activities to assess the damage
Recent reports suggest that Russia is delving into the possibility of establishing two crypto exchanges in Moscow and St. Petersburg. These exchanges are aimed at facilitating international trade and boosting foreign economic activities. While the exchanges will start with a limited number of users, there are plans to eventually open them up to major corporations
A recent ruling by a US federal judge has denied the request made by cryptocurrency exchange Kraken to dismiss a lawsuit filed by the Securities and Exchange Commission (SEC). The SEC has accused Kraken of operating an unregistered securities exchange, broker, dealer, and clearing agency. The regulator claims that Kraken has been facilitating the trading
Coinbase recently made an announcement regarding its support for the Ethereum layer-2 network Polygon’s planned token upgrade from MATIC tokens to the new Polygon Ecosystem Token (POL). The exchange revealed that it would begin migrating the Polygon ticker from MATIC to POL starting on Aug. 26. This move signifies Coinbase’s commitment to ensuring a seamless
Binance, the leading cryptocurrency exchange, has taken significant steps to protect its users from scams and fraud, preventing over $2.4 billion in potential losses in the first seven months of 2024. The exchange disclosed that a substantial portion of the averted losses, approximately $1.1 billion, were related to withdrawals associated with suspected crypto scams. This
Indian crypto exchange WazirX has decided to end its asset custody arrangement with Liminal following a recent $235 million hack. In an announcement on August 14, WazirX stated that it would be transferring its assets from Liminal to new multi-signature (multi-sig) wallets in order to improve the security of its remaining assets post-breach. This move
Australia’s Securities and Investments Commission (ASIC) recently filed a lawsuit against the Australia Securities Exchange (ASX) Ltd., alleging that the ASX made misleading statements regarding its blockchain trade settlement project. According to ASIC, the ASX falsely claimed that the project was “on track” for an April 2023 launch and that it was “progressing” when in
In a recent development, a US appeals court has partially overturned the dismissal of a class-action lawsuit against Binance.US, the United States subsidiary of the global Binance exchange. This ruling came after the plaintiff, Ryan Cox, brought forward valid claims against both Binance.US and CoinMarketCap for allegedly manipulating the price of the Hex token. Cox
Recently, Binance confirmed that the Venezuelan government has placed restrictions on access to its website following the controversial presidential election results. This action has impacted several websites of companies in Venezuela, including social networks. Despite the restrictions, Binance reassured its users that their funds remained secure and that the situation was being closely monitored. As
