E-Commerce Giant Rakuten to Move Crypto Exchange to New Payments Subsidiary

Japanese e-commerce firm Rakuten has announced a revision to its corporate restructure, setting up a new payments subsidiary that includes its cryptocurrency business, Cointelegraph Japan reported Jan. 21. Rakuten, known informally as ‘Japan’s Amazon,’ originally revealed in August last year it would seek to reorganize its various offshoots in order to improve accountability and decision-making processes. Now, the company says it will rebrand its loyalty subsidiary, Spotlight Inc., to a new entity, Rakuten Payment, which will also run its cryptocurrency exchange. Rakuten Payment, along with other details of the restructure,…

Crypto Exchange CEO Sentenced to 3-Year Jail Term for Faking Trading Volume

Two executives from South Korean crypto exchange Komid have been handed down jail time for faking trading volume and deceiving investors. According to a report from CoinDesk Korea, the firm’s CEO Hyunsuk Choi received a three-year sentence for his role in the crime, as well as for embezzlement. Another member of the team, Park Mo, got two years, according to local news source Blockinpress. Choi, the court found, made a number of fake accounts on the exchange in January 2018, and, using a trading bot, made millions of false transactions…

South Korean Exchange Loses $5 Million in Accidental Bitcoin Airdrop

South Korean crypto exchange Coinnest is looking to take back cryptocurrencies accidentally sent to clients in an airdrop. The exchange announced last week that some 6 billion Korean won (around $5.3 million) in bitcoin and other cryptocurrencies were sent to customers due to a computer error, according to CoinDesk Korea. The exchange was trying to airdrop We Game Tokens (WGT) when the incident occurred. Further, due to the server issue, some customers also received Korean won from the exchange. The exchange has no plans to compensate users for any losses suffered…

Huobi Resumes Operations in Japan as a Fully Regulated Exchange

Huobi is back in Japan, this time as a fully regulated exchange under Japan’s Financial Services Agency (FSA). Following its merger with BitTrade, Huobi Japan Holding Ltd. is now among the first batch of 17 to receive registration under the FSA and is able to relaunch Huobi Japan. Leon Li, Huobi Group founder and CEO, called the launch an “important milestone” in a statement, adding that the Japanese market remains important to the group and that working with its “regulators is a longstanding priority for Huobi Group.” Japan’s financial regulator…

Binance Expands Fiat-to-Crypto Exchange Into Europe Via Jersey

Binance’s cryptocurrency exchange platform has expanded into the European market with its entry into the Island of Jersey, a self-governing dependency of Great Britain. Binance Jersey will allow trading of popular cryptocurrencies bitcoin (BTC) and ether (ETH) against the euro (EUR) and the British pound (GBP). The exchange will launch with four trading pairs, including BTC/GBP, ETH/GBP, BTC/EUR and ETH/EUR. In a statement, Wei Zhou, Binance’s chief financial officer, called the island “an undisputed pioneer in blockchain development leveraged by this strong framework and talent pool.” He added: “Binance Jersey…

Thai Stock Exchange Plans to Launch a Token Trading Platform

The Stock Exchange of Thailand (SET) is looking to capitalize on investor interest in cryptos by offering a new digital assets exchange. According to a report from Bangkok Post on Thursday, the SET is planning to apply for a license from the country’s Ministry of Finance to operate the platform. The move comes as the exchange looks to capture the growing investor demand for cryptos, Pattera Dilokrungthirapop, vice-chairwoman of the SET board of governors, said in the report. The stock exchange will work to have a sound technical system in…

Binance Freezes Tokens from Hacked Cryptopia Exchange

New Zealand-based crypto exchange Cryptopia was hacked two days ago. The thief (or thieves) made off with approximately $3.6 million in cryptocurrency. Now, the biggest cryptocurrency exchange, Binance, has frozen tokens sent to its wallet by the alleged hackers. Binance Freezes Tokens According to Binance CEO Changpeng ‘CZ’ Zhao, the exchange reportedly received an unspecified amount of cryptocurrency that social media users noted looked suspicious. The transactions were coming from addresses known to be related to the Cryptopia hack. Cryptopia currently remains shut down while police investigate the hacking. The Frozen Tokens CZ spoke…

QuadrigaCX Crypto Exchange Users Still Can’t Get Their Money Out

QuadrigaCX customers are complaining they still can’t get their money out more than a month after the cryptocurrency exchange won a court dispute that had held up $19 million of funds. While that would be worrisome enough, users’ concerns were compounded by the company’s announcement Monday that its CEO and founder, Gerald Cotten, had died more than a month earlier. In a statement attributed to Jennifer Robertson, Cotten’s wife, the exchange said he died on December 9 from complications arising from Crohn’s disease while traveling in India. The same statement also…

Binance Targets EU, UK Traders With New Fiat-to-Crypto Exchange

Binance, the world’s largest cryptocurrency exchange by adjusted trading volume, has launched a new fiat-to-crypto exchange on the island of Jersey, a British self-governing dependency. The firm announced Wednesday that, through the new exchange, users are able to trade in pairs for bitcoin and ethereum against the British pound and the euro in Europe and the U.K. “Binance selected Jersey for its highly developed digital infrastructure, robust regulatory framework, and world-class financial services sector,” the exchange’s chief financial officer, Wei Zhou, told CoinDesk. He further clarified that Binance Jersey is…

Crypto Hack Takes Crypto Exchange Cryptopia Offline

Another crypto hack has plagued the cryptocurrency space. This time, the New Zealand-based Cryptopia found itself at the center of it. The cryptocurrency exchange announced the news via the company’s Twitter this morning, stating it “suffered a security breach which resulted in significant losses.” Cryptopia Crypto Hack pic.twitter.com/0ZwqFfwwHi — Cryptopia Exchange (@Cryptopia_NZ) January 15, 2019 The exchange’s website is now completely offline, and the company states that it is undergoing maintenance. However, it is more likely that the team at Cryptopia is trying to track down the hacker and figure out…