South Korean-based Upbit has become the latest major exchange to be hacked. A thief has stolen 342,000 Ether worth USD $50 million. The exchange has stated that the stolen cryptocurrency did not come from user funds, and that all deposits and withdrawals will be suspended for at least two weeks. As this attack is far…
Cryptocurrency is rapidly moving into the mainstream financial space, and many of the largest crypto exchanges are seeking greater legitimacy and trust from regulators and politicians. Increasingly, these exchanges are enacting know-your-customer (KYC) protocols on their platforms, ostensibly to please these leaders. This move is fueling a heated debate among crypto advocates over the future…
The digital market has transformed tremendously over the
years. Despite its unpredictable nature, individuals and corporations commensurably
continue to take a keen interest in the cryptocurrency world. This is witnessed
by the numerous periodic crypto merger deals being sealed. From increasing
profits and customer base to reducing competition and overhead expenses, mergers
have countless benefits. 2019 is particularly promising. Although…
Over the past several months a number of developments have emerged that enable blockchain technology to be used in the purchase, management, and trading of traditional assets. Blockchain-based security tokens will enable stocks, bonds, or other financial products to be linked to immutable distributed ledgers. Much like stablecoins, which are backed by fiat currency, security…
Bithumb happens to be the largest exchange in South Korea and in an attempt to make its listing procedure more decentralized, the company has launched Pickthumb. The aim of this new venture is to offer means of voting to the participants and allow them to file their opinion regarding the listing of any new project.…
On June 20th, at about 3 am UTC, Bithumb announced a notice for Twitter subscribers explaining that the reason behind the suspension of deposit and withdrawals is because they noticed $30 mil to be missing from the exchange. They assured everyone that Bithumb would cover all expenses and affected users will be fully refunded.
Then this tweet…