Another Cryptocurrency Exchange Hack Hits Japan

Another cryptocurrency heist has shaken Japan. This time, 6.7 billion yen ($60 million USD) worth of company and user funds have vanished from Japanese cryptocurrency exchange platform Zaif. Tech Bureau Corp, the Osaka-based company that operates Zaif, estimates the heist occured on September 14, 2018, between 5 p.m. and 7 p.m. local time. The exchange detected the breach on September 17, 2018, and reported the event to authorities the following day. Of the stolen money, the hacker siphoned 4.5 billion yen (about $40 million USD) from user accounts and 2.2…

Coinbase Refutes Claims in New York Attorney General’s Exchange Report

A recent report published by the New York Office of the Attorney General (OAG), which claimed several cryptocurrency exchanges it investigated are vulnerable to market manipulation, has drawn backlash from industry players. In a blog post published Thursday, Coinbase’s chief policy officer, Mike Lempres, wrote that the OAG’s assertions in the report have led to misrepresentation of the exchange’s business in the media. The OAG wrote in its original report: “Coinbase disclosed that almost 20 percent of executed volume on its platform was attributable to its own trading.” In response, Lempres clarified…

Coinbase Disputes Claims in New York Attorney General’s Exchange Report

A recent report published by the New York Office of the Attorney General (OAG), which claimed several cryptocurrency exchanges it investigated are vulnerable to market manipulation, has drawn backlash from industry players. In a blog post published Thursday, Coinbase’s chief policy officer, Mike Lempres, wrote that the OAG’s assertions in the report have led to misrepresentation of the exchange’s business in the media. The OAG wrote in its original report: “Coinbase disclosed that almost 20 percent of executed volume on its platform was attributable to its own trading.” In response, Lempres clarified…

Japanese Cryptocurrency Exchange Hacked, $59 Million in Losses Reported

Hackers have reportedly stolen $59 million worth of cryptocurrencies from Japanese cryptocurrency exchange Zaif, Cointelegraph Japan reports September 19. According to a local report, as a result of a security breach on September 14, hackers managed to steal 4.5 billion yen from users hot wallets, as well as 2.2 billion yen from the assets of the company, with total losses amounting to 6.7 billion yen or around $59.7 million. Cointelegraph will update this story as more information becomes available. Source link

Upbit Crypto Exchange Operator to Open Singapore-Based Crypto Exchange Next Month

Kakao-affiliate Dunamu, the operator of major South Korean crypto exchange Upbit, plans to open a Singapore-based exchange next month, local news outlet Yonhap News reports September 19. According to Yonhap, Dunamu already set up a branch in Singapore this February as part of its active push to expand across the Asian market. While the exact date of the Singapore exchange launch remains to be finalized, the firm told Yonhap that the service will go live as of early October. Kim Kook-hyun, head of Upbit’s existing Singapore branch, is quoted as…

Switzerland to Exchange Blockchain Regulatory Experience With Israel

Switzerland and Israel have agreed to share their experience on regulating the blockchain industry, Reuters reports Monday, September 17, citing both countries’ high-ranking officials. Switzerland’s Minister of Finance Ueli Maurer and State Secretary for International Financial Matters Joerg Gasser have recently visited Israel to officially request access to the local markets for Swiss banks. As Gasser told Reuters, by the end of 2018 he plans to prepare a report on blockchain regulation for the Israeli officials that would outline general recommendations. He expects that these notes might be approved by…

Crypto Daily News | Former SpaceX Engineer Starts a Crypto Exchange

In today’s edition of Crypto Daily News, we’ll cover the details of the SpaceX engineer’s new crypto exchange and what Zimbabwe’s Finance Minister said about crypto lately. Crypto Daily News: September 17th, 2018 Former SpaceX Engineer Starts a Crypto Exchange Joshua Greenwald, former SpaceX engineer, is currently the CEO of LXDX and the company just announced that it is launching its own public digital currency exchange. LXDX currently holds its own proprietary software that’s focused on levels of performance not currently seen in the current crypto market. LXDX offers a low…

Former SpaceX Engineer Targets Consumer Traders With His LXDX Crypto Exchange

A former engineer at Elon Musk’s SpaceX has announced his new firm LXDX would launch a public cryptocurrency exchange, Leaprate reports Monday, September 17. Previously engaged in automation and propulsion at SpaceX, Joshua Greenwald has since turned his attention to institutional-grade cryptocurrency trading.   While already operating for institutional investors, Greenwald now wishes to hook the mainstream consumer market. “Our immediate focus is on cryptocurrency and enabling every investor to utilize the exclusive tools, like smart order routing, that only institutions previously could access,” Leaprate quotes him as saying. LXDX received…

Binance to Start Closed Beta Testing of New Crypto-Fiat Exchange in Singapore

Binance, the largest global crypto exchange, will soon start private beta testing a crypto-fiat exchange in Singapore, as Binance co-founder and CEO Changpeng Zhao (CZ) tweeted on September 15. As Changpeng Zhao revealed, the testing will be launched on September 18: “I just slipped that we will begin #Binance Singapore fiat exchange live money closed beta testing on Sept 18th, in 3 days. Invitation only first. Exciting!” According to Finance Magnates, prior to posting the news on Twitter, CZ first revealed the plans to launch the fiat exchange while speaking…

A Top-20 Crypto Exchange Is Replacing Tether With a Rival Stablecoin

A top-20 exchange is phasing out an embattled cryptocurrency. Digifinex has decided to replace tether (USDT), perhaps the best-known “stablecoin” designed to maintain a steady exchange rate with the U.S. dollar, with a rival, TrustToken’s TrueUSD. Based in Singapore, Digifinex handled $131 million in trading volume over the past 24 hours, according to CoinMarketCap, making it the 16th-largest exchange by that measure. Kiana Shek, Digifinex’s co-founder, told CoinDesk she’d been “looking for ways to get rid of USDT” for months, adding, “I simply don’t believe in tether but I had…