Following a significant exploit that resulted in the loss of nearly half of its assets, India-based centralized exchange WazirX is seeking partnerships to restore full operations. The exchange co-founder, Nischal Shetty, took to social media on July 23 to share the news and reassure users that they are working on a solution to restart services.
Exchanges
The crypto industry is currently in a state of anticipation, awaiting the possibility of a second Donald Trump presidency. President Trump has been vocal about his support for Bitcoin and cryptocurrency, promising to end President Joe Biden’s perceived “crusade against crypto.” With polls indicating a potential rise in Trump’s favorability among voters, many in the
During a recent hack of India-based crypto exchange WazirX, a total of $235 million was lost in what was described as a breach on the exchange’s network. Multiparty computation (MPC) wallet provider Liminal, whose infrastructure remained safe during the incident, provided a detailed post-mortem report on July 19. The report clarified that the breach was
A recent development in the case of Binance US has seen a US court granting permission for the exchange to invest certain customer fiat funds. This decision allows Binance US to invest these funds, which are currently held at BitGo, in US Treasury Bills. The court approved the exchange’s request to invest approximately $40 million
Recently, blockchain security firm Cyvers Alert made a shocking revelation about the Indian exchange WazirX being exploited for a staggering $235 million. The firm detected multiple suspicious transactions involving WazirX’s Safe Multisig wallet on the ETH network, resulting in the transfer of $234.9M to a new address. Each transaction was funded by Tornado Cash, raising
Recently, cryptocurrency exchange OKX announced that it will no longer be offering its services to Nigerian clients due to local regulatory concerns. Users were notified that they have until August 16 to close their positions on the platform. This decision has caused uncertainty and frustration among Nigerian crypto users, as they are now limited to
Russia’s Ministry of Finance recently put forward a proposal to allow traditional exchanges to facilitate digital asset trading for specific investors. This move signifies a potential shift in the way digital currencies are handled within the country, opening up new avenues for investors and exchanges alike. The government’s draft response to proposed regulations outlines the
During a recent hearing, Judge Katherine Polk Failla scrutinized Coinbase’s efforts to subpoena SEC chair Gary Gensler in the SEC’s legal battle against the company. Failla expressed dissatisfaction with Coinbase’s request, particularly highlighting the inclusion of Gensler’s statements before assuming the role of SEC chair in 2021. Coinbase’s lawyer defended the request by explaining that
The formation of the Blockchain Security Standards Council (BSSC) by industry giants like Kraken, Coinbase, and Fireblocks is a significant step towards enhancing security within the crypto sector. The aim of this nonprofit organization is to establish uniform security standards across the industry to address pressing security threats such as fraud, cyberattacks, and protocol exploitation.
The Markets in Crypto-Assets (MiCA) regulation introduced by the EU has sent shockwaves throughout the digital asset market. This new regulation is not only affecting companies within the EU but is also having a global impact on firms involved in Euro transactions. With stablecoin rules already in effect since June, companies are scrambling to adapt
