Binance Eyes Launch of Crypto Exchange in South Korea

Binance, the world’s top exchange by trading volume, is considering launching a branch in South Korea, according to reports. Changpeng “CZ” Zhao confirmed the possibility to local news source Block In Press on Tuesday, saying (via translation) that the firm is “working with local partners, but we do not know the details.” However, according to a report by CoinDesk Korea, a business entity dubbed Binance LLC has been established in the country, with the director listed as Jiho Kang of BXB Inc., a firm offering a Korean won-backed stablecoin. A Binance representative reportedly told Block…

Hacked Crypto Exchange Bitpoint Discovers More Millions Are Missing

After announcing a $30-million hack last week, Japan-based cryptocurrency exchange Bitpoint says it’s discovered that another $2.3 million is missing. A report from Japan Today on Monday said the extra losses were discovered at exchanges outside Japan that were using Bitpoint’s trading system and announced Sunday. The firm announced Friday that it had suffered a security breach arising in the loss of around 3.2 billion yen (almost $30 million) in cryptocurrencies. As a result, it halted all services including trading, deposits and withdrawals of all crypto assets. The platform’s parent company Remixpoint…

Former Ripple Exec to Lead Binance’s US Expansion as New Exchange CEO

The operator of Binance’s upcoming U.S. crypto exchange, BAM Trading Services, has hired a former Ripple executive as its CEO. BAM announced on Tuesday it had appointed Catherine Coley as CEO, who will be responsible for rolling out Binance U.S., as well as expanding the exchange’s marketplace in North America. Prior to joining the firm, Coley was the head of  XRP Institutional Liquidity at San Francisco-based distributed ledger tech startup Ripple, BAM said in the announcement. Before entering the blockchain and crypto space, Coley worked for banking giant Morgan Stanley…

S&P 500 Gains Can Earn You Bitcoin on New Bain Capital-Backed Exchange

Crypto investors have a new way to bet on the price of bitcoin – or on traditional assets – with the formal launch of EverMarkets Exchange (EMX)’s derivatives platform. The Palo Alto, California-based startup was founded two years ago and opened the exchange to a restricted audience at the end of May 2019. Effective Monday, the market is now available to participants worldwide – though U.S. residents are excluded. Co-founder Craig Austin told CoinDesk that the company wants to give customers access to a “world market” by trading derivatives tied…

Irish Crypto Exchange Bitsane May Have Disappeared With Users’ Funds

Irish cryptocurrency exchange Bitsane may have done a runner with users’ funds. Forbes said Thursday that the Bitsane exchange, which offers spot trading of cryptos and gained popularity as an early provider of XRP trading, has gone offline and has deleted its social media accounts. Emails sent by Forbes bounced back, it said. Customers of the exchange are saying that they have possibly lost amounts ranging from $5,000 to $150,000 in crypto holdings. On crypto data website CoinMarketCap, Bitsane’s trading information has not been updated for over 10 days. A user that…

Another Indian Crypto Exchange Shuts Down Blaming Banking Ban

Regulatory uncertainty ushered in by India’s central bank appears to have brought about the demise of another cryptocurrency exchange in the nation. In a Medium post published Thursday, the Koinex exchange says it’s been forced to shutter its services as a de facto ban on banking relationships for crypto firms – ordered by the Reserve Bank of India (RBI) in April 2018 – has meant that it is economically unfeasible to continue with normal business. The exchange writes: “We have consistently been facing denials in payment services from payment gateways, bank…

Singapore Exchange Bitrue Hacked for Over $4 Million in Crypto

Singapore-based cryptocurrency exchange Bitrue has been hacked for around $4.2 million in user assets. The platform announced the breach in tweets, saying that the event was identified at around 1 a.m. local time Thursday. Users funds are insured and anyone who lost cryptocurrency would be refunded, according to the company. The exchange said: “First of all, please let us assure you that this situation is under control, 100% of lost funds will be returned to users, and we are reviewing our security measures and policies to ensure this does not…

Japan Watchdog Charges Zaif Crypto Exchange Owner with ‘Legal Violations’

Cryptocurrency exchange owner Fisco is being forced to improve its business management systems after an investigation by the country’s financial watchdog. According to a release from the Financial Services Agency (FSA), on Feb. 13, the agency visited Fisco – a Japanese investment firm that took over ownership of the hacked Zaif exchange in April and found that the firm had made a number of “legal violations.” The FSA said it found “problems” with the firm’s business management – for example, the board of directors had not been discussing “important management…

Japan’s Line Reportedly Close to Obtaining FSA License for Japanese Crypto Exchange

LVC Corporation, the digital asset- and blockchain-focused arm of Japanese messaging giant Line, is allegedly close to obtaining a crypto exchange operating license from Japan’s financial regulator. The news was reported by Cointelegraph Japan on June 20. According to the report, Japan’s Financial Services Agency (FSA) could issue the company with an exchange license as early as this month. The trading service, to be dubbed BitMax, would enable Line’s 80 million users in Japan to buy and sell multiple major cryptocurrencies, as well as Line’s native token Link, CT Japan…

Russian Hackers May Have Carried Out Largest Ever Crypto Exchange Theft

Russian hackers, not North Korean, may be the bad actors behind probably the biggest ever theft from a cryptocurrency exchange. Japanese newspaper Asahi Shimbun reports Monday that virus variants known to be linked to Russian hackers have been found on employee computers at the Tokyo-based Coincheck exchange. Coincheck suffered a breach in January 2018 that resulted in the loss of 500 million NEM tokens worth around $530 million at the time – an amount even bigger than that lost by Mt. Gox. According to the report, the malware found at the exchange…