FCoin To Close Down, Owes Users Up To $125 Million

Chinese crypto exchange FCoin has paused trading as it may not be able to pay back between 7,000 to 13,000 BTC (about $67 million to $125 million) that it owes to its clients. Founder of Fcoin and former CTO of Huobi, Jian Zhang, published a post named "FCoin Truth," where he claimed that the exchange...

Altsbit Cryptocurrency Exchange to Shut Down After over $70M USD in Assets Stolen

Cryptocurrency exchange Altsbit said it plans to shut down its services in May 2020, after having lost “almost all funds” in a security breach on Feb. 5.Altsbit reported the security breach on Twitter on Feb. 6 and published withdrawal instructions 3 days later. The Italy-based exchange stated that the cryptocurrencies taken in the hack...

Plaintiffs Merge Three Lawsuits Against Bitfinex and Tether

Three separate lawsuits - David Leibowitz et al, Eric Young et al, and Bryan Faubus et al - were filed against Bitfinex and Tether. According to the court filing on January 16, legal counsel of all three parties requested a merger of the disputes. In their court filings, Leibowitz, Young and Faubus accuse Bitfinex and...

DX.Exchange Crypto Platform Goes Through Bankruptcy Proceedings

A bankruptcy petition filed by employees of DX.Exchange alleges that the company was actually managed by CX Technologies Ltd. . 76 Current and former employees, who filed the petition, claim CX Technologies replaced the Israeli binary options firm SpotOption, a company that was raided by the FBI in January last year due to suspected...

Crypto Capital Executive Indicted on Fraud Allegations

Crypto Capital executive Oz Yosef was charged with multiple crimes by the U.S. Attorney’s Office of the Southern District of New York. As stated in the court documents from October 23, Yosef was indicted on 3 counts, including bank fraud, conspiracy to commit bank fraud, and conspiracy to perform unlicensed money transmitting service.According to the...

Bittrex Selects Chainalysis Software to Detect Suspicious Transactions

Bittrex a cryptocurrency exchange that has been in operation since 2014 and a Top-100 exchange by trade volume, has introduced a real-time monitoring solution to help it detect suspicious activity on its cryptocurrency trading platform, developed by the blockchain analysis company Chainalysis. The new software is known as Chainalysis KYT (Know Your Transaction) and it...

OKEx Arm in South Korea Delists 5 Coins, Including Monero and Dash

The South Korean subsidiary of a major cryptocurrency exchange OKEx announced plans to delist five major altcoins due to regulatory reasons. Starting Oct. 10, the exchange will stop providing support for Monero (XMR), Dash, Zcash (ZEC), Horizen (ZEN) and Super bitcoin (SBTC). OKEx dropped the 5 cryptocurrencies because they prioritize privacy, making it harder to...

Polish Crypto Exchange Bitmarket Unexpectedly Shuts Down

Bitmarket, the Polish cryptocurrency exchange which started operating in 2014, stopped all operations without warning earlier this week. The exchange cited ‘loss of liquidity’ as the reason for its shutdown but declined to provide any further information, including what will to happen to funds in user exchange wallets. According to the message currently displayed on...