In July 2024, Indian cryptocurrency exchange WazirX fell victim to a staggering $230 million hack, prompting immediate action from the firm’s executives and stakeholders. In a bid to recover stolen assets, WazirX has been proactive in its measures, recently announcing the freezing of $3 million in USDT (Tether). This significant step was highlighted in a
Exchanges
On January 16, 2024, Coinbase announced a strategic collaboration with Morpho, a prominent player in the money market sector, aimed at providing innovative financial services within the cryptocurrency ecosystem. This partnership introduces a groundbreaking service that allows Coinbase users to secure loans in USD Coin (USDC) against Bitcoin (BTC) as collateral. The loans will be
In August 2016, the cryptocurrency exchange Bitfinex suffered a monumental security breach, leading to the theft of nearly 120,000 Bitcoin (BTC)—a staggering value that highlighted the vulnerabilities within digital asset exchanges. The fallout from this hack prompted significant operational and regulatory shifts within the cryptocurrency industry, as both users and stakeholders sought to understand the
On January 15, 2024, the U.S. Department of Justice (DOJ) announced that BitMEX, along with its parent company HDR Global Trading Limited, was slapped with a hefty fine of $100 million following a guilty plea for breaching the Bank Secrecy Act (BSA). The saga began with allegations that BitMEX exhibited insufficient measures in countering money
In a significant advancement for its operations, HashKey Group, a prominent digital asset firm based in Asia, has recently received in-principle approval for a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). Announced on January 13, this news has garnered attention as HashKey seeks to strengthen its foothold in
In an era where technology intersects with traditional betting, the emergence of decentralized platforms like Polymarket has sparked not only innovation but also significant ethical and regulatory debates. Recently, Polymarket has drawn intense scrutiny from various regulatory bodies and members of the public due to its decision to facilitate betting on natural disasters, particularly the
The downfall of FTX, once a prominent player in the cryptocurrency exchange space, has been nothing short of spectacular. Once valued in the tens of billions, the platform filed for bankruptcy in late 2022, shaking the faith of investors and users alike. At the core of the turmoil was a convoluted web of financial mismanagement
In 2024, Kazakhstan has taken significant strides to assert control over its cryptocurrency landscape by intensifying its crackdown on illegal crypto exchanges. The government’s Financial Monitoring Agency (AFM) reported the dismantling of 36 unauthorized platforms that collectively handled over $100 million. This bold move is not merely a reactionary measure but a proactive approach aimed
In a remarkable move signaling its ambitions in the European crypto landscape, Backpack, established by former executives from the infamous FTX exchange, has finalized the acquisition of FTX EU. This strategic purchase was sanctioned by both the bankruptcy court overseeing FTX’s insolvency proceedings and the Cyprus Securities and Exchange Commission (CySEC). By securing the European
In a strategic move that could reshape the landscape of cryptocurrency trading, Nasdaq has submitted a proposal to the SEC aimed at increasing the options contract limit for the iShares Bitcoin Trust ETF (IBIT) from 25,000 to a staggering 250,000 contracts. This request, disclosed in a filing dated January 6, 2024, reflects a desire to