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
By CCN.com: The hacker going by “ExploitDOT” has recently confirmed he/she was selling know-your-customer (KYC) data from world leading cryptocurrency exchanges on the dark web, in an attempt to clear his name from cryptocurrency news outlets claiming the ad was fake. Last week, CCN broke the news and revealed the hacker was attempting to sell
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On a darknet market called “Dread,” a vendor going by “ExploitDOT” is attempting to sell user data from the know-your-customer (KYC) data top cryptocurrency exchanges ask for, required by most jurisdictions. According to data shared with CCN, the hacker has an ad that has been online since July 2018, in which he claims to have
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Coinbase is hailed as a paragon of the cryptocurrency industry, its CEO’s every utterance amplified and its every coin listing over-analyzed. Lauded for introducing millions of people to cryptocurrency, Coinbase is regarded as a net good for the crypto space. But there’s a less savory side to the San Francisco exchange that’s seen prominent customers have their accounts frozen without warning.
According to a class-action lawsuit filed in the US district court for Northern California, Bitmain has been taking advantage of its customers the past couple years in an interesting way: mining crypto for itself, using their resources, during the “initialization” process. You read that right. According to at least one Bitmain customer and bitcoin miner,
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The post Coinbase cuts staffers in customer support, compliance, fraud depts. appeared first on CoinReport.
The company behind the third biggest digital currency, Ripple has been on a charm offensive to rope in as many RippleNet customers as they can. This effort has seen customers of the company explode and grow too big numbers. Currently, the San Francisco based company has over 200 customers under its belt.
Many people already are aware that Ripple is the innovative firm behind XRP. from XRP’s point of view, it has seen some massive share of growth especially in terms of markets capitalisation. Nevertheless, there hasn’t been much activity in its price range over the last week, but that could change soon. As was expected, Ripple’s success in bringing in more customers could be a great bonus for the third biggest crypto.
Crypto exchange Coinbase continues its recent shakeup of staff and executives as its customer service staff are cut.
Crypto exchange Coinbase recently engaged a series of cuts and shakeups involving staff and executives. According to Yahoo Finance, the majority of the laid-off employees were remote.
The customer service cuts come despite the exchange’s commitment to user satisfaction. The customer service staff — some of whom had been with the company as far back as 2013 — were cut despite this proclamation from Coinbase’s early days:
Tech Bureau, operator of Japanese cryptocurrency exchange Zaif, is yet to reveal a compensation strategy for customers who suffered losses from an infamous $ 60 million theft three weeks ago. Osaka-based Tech Bureau has already halted new user registrations to focus on reimbursing customers who collectively lost ¥4.5 billion ($ 40 million) from the ¥6.7 billion ($ 60
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Following a recent report of New York State’s Attorney General, an economist believes that the document confirms “zero” chances of a Bitcoin ETF approval in 2018.
‘Odds of Bitcoin ETF Approval in 2018 = 0’
A new report of the New York States Office of the Attorney General (OAG) Barbara D. Underwood, outlined the issues which existing cryptocurrency exchanges face compared to traditional venues.
According to the document, digital currency exchanges are up against serious problems such as potential conflicts of interest, lack of efforts to impede abusive trading activity, limited or “illusory” protections for customer funds, and others alike.
BMW Group financial services has announced its partnership with blockchain startup Bloom in a bid to streamline its customer journey and user experience, per a Medium post. Bloom helps to make the traditional lending process easier hence helping to reduce the risk that consumer data is exposed to. Individuals can secure their data on their
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Bits of Gold – local Israeli cryptocurrency exchange – has agreed to pass on information to the country’s Tax Authorities on deposits and trading activity.
Israel Tightens the Knot
In what seems to be a step towards tightening up the cryptocurrency trading environment in Israel, the local Tax Authorities have reached an agreement with a local digital exchange Bits of Gold. As reported by local tech-related media outlet Calcalist, the cryptocurrency exchange has agreed to pass on information concerning larger deposits.
Supposedly, the purpose behind the agreement is to prevent acts of tax evasion and money laundering. Apparently, the anonymized and encrypted nature of cryptocurrencies intimidates the regulatory bodies of the country.
Rewards.com has integrated Dash coin into its platform in order to give members the ability to deliver rewards to users directly in cryptocurrency for retail purchases. The integration was announced during the Consensus conference in New York City. Rewards.com offers a global loyalty solution which provides a consumer and retail-focused rewards token platform. It leverages blockchain technology to offer a universal loyalty token, called RWRD,
In a recent interview, Ben He, the founder of major Chinese Ethereum wallet provider, Imtoken, discussed his company’s growth. $ 35 billion worth of crypto assets are currently held in Imtoken wallets – including funds owned by major cryptocurrency companies such as Coinbase. Imtoken also recently announced that it has received $ 10 million USD from IDG Capital, and will soon integrate support for BTC.
Japan’s largest cryptocurrency exchange Bitflyer has contested media reports that the Japanese financial regulator has deemed its user verification process to be insufficient. Nonetheless, the exchange admitted to being in talks with the authority and has implemented additional measures.
Reports of Financial Regulator’s Concerns
The largest Japanese crypto exchange by volume, Bitflyer, has issued a statement in response to media reports that the Financial Services Agency (FSA) has asked the exchange to strengthen its user verification procedure after determining it to be insufficient.
Quifas, an upcoming crypto exchange with an extraordinary focus on customer service, is all set to start a token sale campaign on March 9. Unlike the existing large exchanges struggling to deal with the heavy influx of new users, Quifas is in the process of building an innovative ecosystem with a user friendly interface that guarantees high security and allows for millions of transactions per second.
24th Feb, 2018
Quifas, an upcoming crypto exchange with an extraordinary focus on customer service, is all set to start a token sale campaign on March 9. Unlike the existing large exchanges struggling to deal with the heavy influx of new users, Quifas is in the process of building an innovative ecosystem with a user-friendly interface that guarantees high security and allows for millions of transactions per second.