Exchanges

OKEx Suspends Crypto Withdrawals, Founder Goes Missing

  • On Friday the exchange announced it had suspended all cryptocurrency withdrawals indefinitely as it went "out of touch" with a key holder.
  • It is suspected the key holder is the founder of OKEx, Mingxing Xu, who, according to sources, was taken by the police a week ago, and hasn't been seen since.

Coinbase’s Crypto Community Fund Will Sponsor Two Bitcoin Core Developers

  • The projects will be chosen based on their field of work and potential contribution to the Bitcoin ecosystem.
  • Companies wanting to participate in the program must first fill out a form, which will later be evaluated by an advisory board.

Gemini Partners With U.K. Crypto Payments Processor BCB Group

  • By using BCB's API, Gemini will be able to simplify its interactions with various banks, and reduce the need for manual intervention in transaction processing.
  • Gemini will also be able to provide its U.K. clients with faster options when it comes to sending and receiving pounds.

Bitfinex Derivatives Launches EOS, Litecoin, Polkadot Contracts

  • The addition asserts Bitfinex’s intentions of expanding into the crypto-derivatives market.
  • The inclusion of the new crypto derivatives contracts comes after last month's listing of Europe 50 and Germany 30 perpetual swaps, offering exposure to established equity markets.

KuCoin Restarts Major Cryptocurrency Trading

  • After the finish of the latest wallet security update, KuCoin’s users are now allowed to make deposits and withdrawals in certain major cryptocurrencies.
  • The announcement suggested that the full services of USDT will resume soon, with complete wallet functionality gradually being restored.

KuCoin Hack Update: DeFi Protocols Used To Launder Stolen Crypto Assets

  • According to the latest Chainalysis data, approximately $275 million worth of crypto has been compromised in the KuCoin hack.
  • While most of the stolen funds are currently frozen, hackers have managed to exchange some of the tokens through certain DEXs.

Crypto Wash Trading Explained In Simple Terms

  • Wash trading on crypto platforms is holding the entire industry back by faking interest in otherwise uninteresting assets and pumping and dumping schemes.
  • Since wash trading was identified as a serious issue in the sector, companies have began cracking down on the illegal activity, significantly reducing wash trading operations.

Gemini Adds Confidential Zcash Withdrawals

  • The cryptocurrency exchange allegedly added the shielded Zcash withdrawals after receiving approval from the New York Department of Financial Services.
  • This is the first major instance of a regulated exchange embracing the private nature of ZEC.

Binance Blacklisted By Russian Telecom Censor

  • Though Binance made the announcement on Friday, it appears that the Russian web censor blacklisted the website back in June.
  • The exchange has now engaged its legal counsel for further advice on the situation, while still providing services in the country.

Hackers Breach KuCoin’s Hot Wallets, Steal $150 Million

  • The hackers reportedly obtained the private keys to the wallets and transferred ETH and ERC-20 tokens to an unknown address.
  • The exact size of the compromised funds is still not confirmed, but estimates currently place the loss at around $150 millio.