In the wake of a catastrophic $230 million hack, WazirX, one of India’s prominent cryptocurrency exchanges, finds itself navigating turbulent waters as it grapples with the aftermath of this breach. This incident has not only breached user trust but also raised questions regarding the security protocols in place at the exchange. Following this attack in
Exchanges
As cryptocurrencies continue to reshape the financial landscape, the need for effective and secure trading platforms has never been more pressing. The surge in popularity of digital currencies is accompanied by an influx of crypto exchanges, each claiming to be the best. However, distinguishing the one that genuinely meets your needs can be daunting. In
In July, WazirX, one of India’s prominent cryptocurrency exchanges, experienced a catastrophic breach resulting in the theft of an astounding $230 million. Recent analyses from Arkham Intelligence reveal that the hacker responsible has nearly finished laundering the stolen funds, with only $6 million in Ethereum (ETH) still unprocessed. This alarming incident not only exposed the
The rapid evolution of cryptocurrency usage has emerged as a defining feature of global finance, with varying growth patterns across different regions. Notably, the United Arab Emirates (UAE) presents a unique case, showcasing remarkable growth in crypto activities throughout diverse transaction sizes. According to a recent report by Chainalysis, this trend positions the UAE as
In September 2023, BNY Mellon made headlines with its ambitious plans to penetrate the crypto custody market, particularly focusing on Bitcoin and Ethereum exchange-traded funds (ETFs). The bank’s recent exemption from the SEC under Staff Accounting Bulletin 121 (SAB 121) has set the stage for a significant operational shift, allowing it to redefine the treatment
In a significant strategic move, Kraken—one of the foremost cryptocurrency exchanges—has acquired Coin Meester (BCM), a pioneer in the Dutch crypto brokerage landscape. This acquisition, announced on September 24, serves not only to bolster Kraken’s market presence in the Netherlands but also acts as a catalyst for expanding its operations across Europe. Coin Meester has
On September 20, the cryptocurrency exchange BingX found itself at the center of a worrying security breach, which highlighted ongoing vulnerabilities faced by centralized platforms within the digital asset market. The exchange reported experiencing a “minor asset loss” stemming from suspicious activities linked to one of its hot wallets, raising red flags among users and
The ongoing legal dispute between the United States Securities and Exchange Commission (SEC) and Coinbase, one of the preeminent cryptocurrency exchanges, has drawn considerable attention within the financial and legal sectors. Initially filed in June 2023, this lawsuit accuses Coinbase of operating as an unregistered securities broker, a claim that hinges on critical interpretations of
The ongoing debate surrounding cryptocurrency regulation in the United States has recently been sparked by statements from Robinhood’s Chief Legal Officer, Daniel Gallagher. His testimony before the House Financial Services Subcommittee on Digital Assets highlights significant concerns regarding the direction taken by the U.S. Securities and Exchange Commission (SEC). Gallagher’s insights underscore a pressing need
In a vivid turn of events within the cryptocurrency landscape, Binance, one of the leading global exchanges, has strongly distanced itself from the beleaguered Indian crypto exchange WazirX. The situation escalated following a significant $235 million hack that struck WazirX in July, which left many Indian users reeling from financial losses. In a public statement
