Crypto Exchange Coincheck Resumes NEM Trading Almost 10 Months After Major Hack

Recently re-opened Japanese crypto exchange Coincheck has announced it has resumed NEM (XEM) crypto token trading after a restructuring of its platform by external “security experts,” South Korean news outlet FNNews reports Nov. 13. In January of this year, Coincheck suffered an industry record-breaking hack when $534 million worth of NEM was stolen from its wallets. This latest development from Coincheck reveals the exchange has “joined the Japan Security Association and is “ready to renovate its image.” Alongside NEM trades, the platform has also opened support for Ethereum (ETH) and…

New Exchange Security Scoring Model Offers Insurance Rates for Coin Holders

International cybersecurity solutions provider Group-IB has come up with a scoring model to grade crypto exchanges based on their level of security. The scoring model was created by Group-IB in conjunction with Swiss-based Cryptolns (which is operated by Swiss insurance broker APIS AS), and the grading is intrinsic to CryptoIns’ new cryptocurrency exchange insurance, which will allow exchange users to cover up to 15 BTC worth of digital assets held in their exchange accounts. With the scoring model’s data, CryptoIns has calculated rates for their coverage depending on an exchange’s…

Russian Crypto Exchange Gets Approval From Estonian Financial Watchdog

Russian cryptocurrency exchange B2BX has received regulatory approval from the Estonian Financial Intelligence Unit (FIU) to operate in the country, according to a press release published Nov. 12. Founded in 2014, B2BX is a part of the B2Broker group of companies and a full-featured spot trading platform, offering 34 cryptocurrency markets. In late 2017, the exchange conducted an Initial Coin Offering (ICO), with the objective of making an official business-to-business crypto exchange aggregator to connect institutional clients, forex/DMA and stockbrokers with digital currency exchanges. The recently obtained FIU license will…

Singapore’s Central Bank, Stock Exchange Settle Tokenised Assets on a Blockchain

Twitter Facebook LinkedIn In a blockchain breakthrough, Singapore’s central bank and the country’s primary stock exchange have successfully developed an automated method for rapid settlements of tokenized assets. In an announcement on Sunday, the government of Singapore announced the successful development of a Delivery versus Payment (DvP) mechanism – powered by smart contracts – for settlement of tokenized assets over different blockchain platforms. As reported by CCN in August, the joint endeavor was built upon the blockchain developed by the central bank’s effort to tokenize the Singaporean dollar into a…

SEC Charges EtherDelta Founder Over ‘Unregistered Securities Exchange’

The U.S. Securities and Exchange Commission (SEC) has charged Zachary Coburn, the founder of crypto token trading platform EtherDelta, with operating an unregistered securities exchange. The regulator said Thursday that EtherDelta, which acts as a secondary market for trading ERC-20 tokens, had been providing a marketplace for buyers and sellers to trade ethereum tokens that the SEC deemed to be “digital asset securities.” It used an order book, an order display website and a smart contract built on ethereum, the agency said. “EtherDelta’s smart contract was coded to validate the…

Singapore Exchange Successfully Trials Blockchain for Tokenized Assets Settlement

Singapore Exchange Limited (SGX), along with the Monetary Authority of Singapore (MAS), have successfully tested the use of blockchain technology for tokenized assets settlement, according to a SGX release issued Sunday, Nov. 11. The report reveals the data on the trial that began in August, shortly after MAS and SGX had partnered with U.S. stock market Nasdaq, “big four” consulting company Deloitte, and Singaporean tech company Anquan. As per the release, the partners have developed a blockchain-driven solution for Delivery versus Payment (DvP) capabilities — a settlement procedure where the…

Business Still Good, Despite Exchange Volume Drop

Binance cryptocurrency exchange CEO Changpeng Zhao said that the company is not concerned over low trade volumes caused by the current market slump, according to an interview with CNBC Africa posted on YouTube Nov. 8.   Speaking on CNBC Africa’s “Crypto Trader” show, Changpeng Zhao — also known as CZ — said that the exchange is not worried by a volume drop of almost 50 percent since last month, when the market became “very stable.” According to Zhao, Binance currently has one tenth of the trading volume it did in…

Fraudulent South Korean Exchange Pure Bit Nabs $2.8M in ICO Exit Scam

A South Korean ICO has defrauded its private sale investors out of roughly 13,500 ETH ($2.8 million) before disappearing from the internet entirely. Pure Bit, which has already pulled the plug on its website, has apparently conducted a fairly routine exit scam for its Pure Coin token sale. The cryptocurrency was pitched as an exchange token for Pure Bit, an exchange that was supposed to launch by the end of the month. The Coin  promised to give investors shares of the exchange’s trading revenue as well as discounted fees for trading,…

EtherDelta Founder Charged by SEC For Operating an Unregistered Exchange

In an apparent first, the U.S. Securities and Exchange Commission (SEC) has charged the founder of EtherDelta, Zachary Coburn, with running an “unregistered national securities exchange,” according to a press release from the regulator. “EtherDelta provided a marketplace for bringing together buyers and sellers for digital asset securities through the combined use of an order book, a website that displayed orders, and a ‘smart contract’ run on the Ethereum blockchain,” the agency noted. EtherDelta’s users have processed over 3.6 million orders for ERC20 tokens during an 18-month period, including those…

Hackers Breach Popular Web Analytics Site to Target Crypto Exchange

Cryptocurrency exchange Gate.io was apparently the target of hackers who compromised a widely used web analytics platform this week. According to a report from internet security firm ESET on Tuesday, bad actors compromised Ireland-based web analytics site StatCounter, in an attempt to steal bitcoin from the exchange’s customers. The attackers managed to inject malicious code into the script of StatCounter webpage, having also registered a domain very similar to the official one. The fake domain swapped two letters from the original to form “StatConuter”, which can be difficult to spot…