South Korean Crypto Exchanges Overtake Maltese Ones by Daily Trade Volume

Cryptocurrency exchanges registered in South Korea have overtaken their Maltese-registered counterparts by average daily trade volume in November. This is according to a report by cryptocurrency market data provider CryptoCompare, published Thursday, Dec. 6. The November edition of CCCAGG, a monthly crypto exchange review published by CryptoCompare, shows that South Korean exchanges, including Bithumb, Coinone, Korbit and Upbit among others, registered a combined $1.4 billion of average daily trade volume. In the meantime, their competitors in Malta had only achieved $1.2 billion. This is a significant change when compared to…

North Korean Hackers Move Onto Attacking Individuals After Exchanges Boost Security

The CEO of cybersecurity firm Cuvepia declared that his company detected over 30 attacks on crypto-bearing individuals probably carried out by North Korean hackers, English-language media site South China Morning Post reports Nov. 29. Kwon Seok-Chul, the CEO of the aforementioned South Korean cybersecurity company, said that the new targets of the suspected North Korean cyberattacks “are just simple wallet users investing in cryptocurrency.” He then added that many cases probably haven’t been detected, and that there may have been well over 100 attacks. As the article states, the “targeting…

A Bug Making Ethereum Transactions on Exchanges Vulnerable Has Been Fixed

A bug centering around a new Ethereum token, GasToken, which was enabling abuse on cryptocurrency exchanges, appears to have been resolved. The details are provided in a report originally published on November 13, 2018, that discussed how the bug was exploited by attackers, and what digital platforms could do if they wished to protect their hot wallet funds. It was unclear which exchanges could or could not be affected by the bug. Thus, private disclosures were issued to “as many exchanges as possible” according to a Medium post. While it…

Why Major Crypto Exchanges are Granting Bitcoin Cash With BCH Ticker

Twitter Facebook LinkedIn The hash power war between Bitcoin Cash (BCH) and Bitcoin Cash SV (BCHSV) ended with a one-sided victory for BCH. Prior to the hard fork on November 15, major cryptocurrency exchanges publicly expressed support towards the roadmap set forth by bitcoincash.org or ABC, the original Bitcoin Cash blockchain network. Fast forward eight days, a growing number of leading cryptocurrency trading platforms have begun to officially adopt ABC as the original Bitcoin Cash network with the ticker BCH. What Triggered Coinbase and Kraken to Support BCH? Earlier this…

Bitcoin Cash Price Sets New Yearly Low as Exchanges Open BCH Trading

Twitter Facebook LinkedIn It has been five days since the Bitcoin Cash fork began and crippled the stability of the BCH ecosystem, and the worst part is that it is not looking to recover anytime soon. The BCH/USD pair on Tuesday dropped another 40 percent — on paper, anyway (most exchanges paused BCH trading ahead of the fork and are consequently seeing all of the recent market losses realized at once) — setting new yearly lows at 237.14-fiat. There were no signs of upside recoveries that could stand for long.…

After the Fork: Here’s How Exchanges Are Dealing With Bitcoin Cash

The smoke is still clearing from Bitcoin Cash’s hard fork, but exchanges have already moved in to add support for the products of the skirmish. On November 16, 2018, what was intended to be a routine hard fork upgrade of the Bitcoin Cash blockchain became a struggle for hashing power and chain dominance as Bitcoin Satoshi’s Vision (SV), led by Craig S. Wright, attempted to wrestle control over the Bitcoin Cash blockchain from its original client, Bitcoin ABC. Bitcoin ABC (thus far) has strong-armed Bitcoin SV with its mining power…

Major Exchanges Are Already Distributing New Bitcoin Cash Tokens

After yesterday’s split of the bitcoin cash blockchain, several top exchanges have already accommodated the resulting two tokens. While the scheduled hard fork was originally intended as an upgrade to the network, the long-standard Bitcoin ABC version found itself with a rival network and token, Bitcoin SV, after it managed to garner enough support from miners. Taking place at around 18:00 UTC Thursday, the event soon saw both networks producing new blocks, though Bitcoin ABC took an early lead. At press time, ABC has mined 34 blocks more than SV and…

Canadian Court Takes Custody of Crypto Exchange’s Frozen Funds

The Ontario Superior Court of Justice has recently moved to take custody of a large sum of assets from a crypto exchange currently frozen in accounts at the Canadian Imperial Bank of Commerce (CIBC). According to a recent court document, the CIBC had frozen several accounts of some disputed assets at the crypto exchange QuadrigaCX, including $25.7 million CAD and $69,000 USD. The bank was allegedly unable to identify who the exact owner of these accounts was along with millions that were deposited by the exchange’s various clients, so it…

Court Takes Control of Funds Amid Crypto Exchange’s Banking Dispute

https://www.shutterstock.com/image-photo/toronto-ontario-canada-june-18-2017-663012397?src=Y-JwD4rTdS1cvlRBjorm4w-1-2A Canadian court is taking charge of $26 million CAD claimed by crypto exchange QuadrigaCX due to a dispute over the funds’ provenance. Judge Glenn Hainey of the Ontario Superior Court of Justice granted the Canadian Imperial Bank of Commerce (CIBC) an interpleader order on Nov. 9, allowing the court to take control of the funds until their ownership can be established. However, the bank will maintain liability for the funds, given that CIBC froze the funds on its own initiative. An interpleader right occurs when at least two parties claim the…

Crypto Exchanges Should Take a Hard Look at IP Address-Masking Services

Richard Malish is General Counsel at NICE Actimize where he counsels on global anti-money laundering, fraud, trading compliance and banking regulatory matters. The New York Attorney General (“NY AG”) recently issued a report on its fact-finding enquiries to multiple virtual currency trading platforms believed to be operating in New York. One of its many interesting findings was how virtual private networks (“VPNs”) may permit market manipulation. VPNs are a critical tool for privacy-minded cryptocurrency traders, as well as the only method for some traders to access these markets in countries…