By CCN Markets: Gerald Cotten, the CEO of the Canadian crypto exchange QuadrigaCX whose death is the reason for $ 190 million of missing funds and a bankrupt company, had transferred user funds to his personal accounts to use them as security for margin trading, a report by Ernst & Young revealed. After Cotten had died, QuadrigaCX went offline as the company’s CEO had exclusive access to the wallets where the exchange’s funds were held. In April, the Canadian cryptocurrency exchange declared bankruptcy. The Nova Scotia Supreme Court granted Quadriga protection from their creditors, and Ernst & Young was hired to
The Chinese security service provider 360 Security has issued a warning that a large number of crypto exchanges have been targeted by the North Korean hacker group Lazarus and that the number is still rising after the recent hacks of crypto exchanges DragonEx, Etbox and BiKi.
360 Core Security found that Lazarus, also known as the ATP-C-26 group, used software called “Worldbit-bot” to carry out its active attacks. The crypto exchange DragonEx fell victim to it on March 24, 2019, leading to a loss of $ 7.09 million, according to the 360 Security report.
Years of growth, trillions in government bonds, and substantial capital sought from outside investors may see a U-Turn in the coming days as Japan’s prized economic policies were found to be reliant on fraudulent data. As per estimates, over 40 percent of Japan’s 56 economic policies contain errors, casting a shadow on all of the country’s analysis and reports generated over the years. Faulty Methods Research methodologies – for all their benefits – suffer from a critical point-of-failure; that of sampling a small set of respondents and basing conclusions on limited, oft-skewed responses. And it seems like an integral division
Earlier this week, the Blockchain Transparency Institute (BTI) published a report claiming that the global crypto exchange market is faking $ 6 billion of its daily volume. The researchers at BTI evaluated the user activity and traffic of the market’s biggest crypto exchanges, comparing their projected trading volume to other metrics. Slippage, a method utilized by
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On March 10 a cryptocurrency trader and researcher published a report on how he believes $ 3 billion worth of cryptocurrency trade volumes, primarily from a couple of exchanges, are concocted. The author of the study, Sylvain Ribes, alleges that the exchange Okcoin has been fabricating up to 93 percent of its trade volumes.
Massive Discrepancies Between Exchanges
Sylvain Ribes has published a study that reveals some interesting information about trade volumes stemming from exchanges like Okcoin (Okex) and Huobi, which may be falsifying their trade volumes. Ribes calculated his data from order books across all major exchanges to “measure how badly market selling $ 50k USD worth of each cryptocurrency would crash the price.”