A new report by CryptoQuant ranks the transparency of five major crypto exchanges based on their proof-of-reserves (PoR) practices. The analysis revealed that Binance is leading, while other players like Bybit, OKX, Kraken, and Coinbase are trailing. The PoR Rankings The survey evaluated each exchange’s reserve ratio, a metric calculated by dividing the net customer […]
This weekend saw significant headlines in crypto, including financial disclosures tied to a high-profile political figure, a new decentralized exchange announcement from a major platform, and a criminal case involving a social media trader. Here are the top stories that stood out over the past few days. Trump’s Crypto Play Pays Off Donald Trump reportedly […]
A significant portion of the $1.4 billion in cryptocurrency stolen during Bybit hack by North Korea’s Lazarus Group has become untraceable, according to the exchange CEO Ben Zhou. In a tweet detailing the current status of the hacked funds – approximately 500,000 ETH – the exec reported that 27.59% have gone dark, largely due to […]
Privacy-focused cryptocurrency exchange eXch has confirmed it will officially terminate all operations effective May 1st, following escalating international scrutiny and mounting allegations of its role in laundering funds linked to the February Bybit hack. According to the team, the move comes after internal consensus among its leadership to “cease and retreat” rather than continue under […]
Less than two months ago, the crypto exchange Bybit fell victim to one of the largest attacks in the crypto sector’s history, losing about $1.5 billion in ether (ETH) to cyber criminals. While the leading trading platform has recovered significantly from the effects of the attack, market experts have analyzed data that showed how it […]
European regulators are closely examining the role of OKX in laundering funds from a massive cyber heist on Bybit. National regulatory bodies across the European Union deliberated on the issue during a meeting led by the European Securities and Markets Authority’s (ESMA) Digital Finance Standing Committee on March 6. OKX Faces Intense Scrutiny The focus […]
Several Binance users have reported falling victim to an SMS spoofing attack. The phishing text appeared within Binance’s official message thread, making it nearly indistinguishable from legitimate communications. User Reports Binance Phishing Incident One user, Joe Zhou, shared his experience in a LinkedIn post, stating, “I want to report a recent scam related to the Bybit […]
US authorities have made significant progress in combating cryptocurrency-related crime by seizing approximately $31 million linked to the 2021 Uranium Finance hack. The announcement was made by the US Attorney’s Office for the Southern District of New York (SDNY) and Homeland Security Investigations (HSI) in San Diego this week, nearly four years after the attack. […]
Ethereum prices displayed resilience over the weekend, rapidly bouncing back from a slump following the massive hack of the Bybit crypto exchange. The asset slumped 7% in a matter of hours on Feb. 21, falling from $2,832 to $2,629 in the wake of the $1.4 billion Bybit hack of Ethereum assets. However, ETH tapped $2,800 […]
Ho Kai Xin, a former payroll processing staff member at WeChain Fintech Singapore, has been sentenced to nine years and 11 months in jail for embezzling over $5.7 million. WeChain Fintech Singapore, which was contracted to manage payroll for Bybit Fintech, employed Ho as a payroll processing staff member. Ho, who was responsible for processing […]
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