In a significant development within the cryptocurrency sector, the South Korean government has exposed major Know-Your-Customer (KYC) violations on Upbit, the nation’s leading cryptocurrency exchange. The investigation, initiated by the Financial Intelligence Unit (FIU) of the Financial Services Commission (FSC) during a routine review of Upbit’s business license renewal on November 14, has revealed alarming
Exchanges
The landscape of cryptocurrency trading is often fraught with complexities, especially when it comes to security issues. One such incident that has captured attention is the recent $235 million breach involving WazirX, a leading crypto exchange based in India. As the investigation unfolds, several key developments have arisen, shedding light on the individuals involved, the
In the wake of the recent US elections, Binance, one of the largest cryptocurrency exchanges globally, has experienced a remarkable influx of capital, totaling over $7 billion. This surge in activity, as reported on November 12, underscores a transformative period for the platform, especially following the electoral success of former President Donald Trump. With such
The recent uproar in the crypto community surrounding Binance’s listings of two Solana-based memecoins, The AI Prophecy (ACT) and Peanut the Squirrel (PNUT), reveals deeper concerns about market manipulation and investor protection. While these tokens experienced meteoric rises in value, allegations of “pump and dump” schemes have emerged, igniting an intense debate about the responsibilities
In an illuminating post on X, Coinbase’s CEO Brian Armstrong has recently thrown his weight behind Hester Peirce’s potential ascension to lead the Securities and Exchange Commission (SEC) under a possible second term for President Donald Trump. Armstrong’s praise for Peirce, calling her “smart, fair, and professional,” underscores a sense of optimism in the crypto
In the ever-evolving landscape of cryptocurrency exchanges, WazirX’s recent announcement to launch a decentralized exchange (DEX) marks a significant shift in its operational strategy. Following a staggering $235 million hack attributed to North Korea’s Lazarus Group, the urgency to enhance security protocols has never been more pressing. This incident, which exposed a vulnerability in WazirX’s
In the dynamic world of cryptocurrency, where companies evolve rapidly, Crypto.com stands out with its ambitious roadmap for 2025. Positioned as a leading trading platform, the Singapore-based blockchain company has plans to broaden its offerings significantly, integrating innovative products that cater to both traditional finance and the cryptocurrency market. This analysis delves into Crypto.com’s strategies
The collapsed cryptocurrency exchange FTX has initiated a significant legal dispute against Ryan Salame, the ex-co-CEO of its Bahamian subsidiary. This court action, as announced on November 4, aims to reclaim around $98.8 million in financial assets, comprising both cash and cryptocurrency. Salame is accused of complicity in the misappropriation of customer assets alongside other
Mt. Gox, once a dominant player in the cryptocurrency exchange arena, has made headlines again following significant movements of Bitcoin valued at over $2 billion. Data revealed by Arkham Intelligence outlines that on November 4, 2023, Mt. Gox completed large-scale transfers of Bitcoin to newly established wallets, reigniting conversations surrounding the infamous exchange, particularly in
The cryptocurrency sphere has long been characterized by volatility and contention, particularly when it comes to the topic of asset listings on major trading platforms. Recent statements from Tron Network founder Justin Sun and Sonic Labs co-founder Andre Cronje have sparked an illuminating debate regarding the transparency and policies of Coinbase, a substantial player in
