Tag Archives: Exchange News

BTC saw a 4% decline to $65,500 in value on Tuesday as Kraken sent funds, which constitute repayments, to Mt. Gox creditors. The defunct Mt. Gox, overseen by its bankruptcy estate, has chosen multiple exchanges to ensure prompt reimbursements to those who lost their funds in 2014 when it went bankrupt due to hacks that persisted for two years. Chosen exchanges, besides the obvious Kraken, include Bitstamp, Bitbank, BitGo, and SBI VC Trade. While Mt. Gox is working on moving funds to all of...

Defunct lending platform BlockFi has secured claims from FTX, allowing it to repay customers and creditors whose funds were tied because it failed in 2022. Its plan administrator, Mohsin Y. Meghji, submitted a report to the U.S. Bankruptcy Court for the District of New Jersey, stating BlockFi closed a transaction, letting it monetize about $874.5 million. According to a press release issued by the firm, “Following the settlement with FTX in March 2024 that allowed BlockFi to receive $874.5...

As hackers tied to the North Korean Lazarus Group made away with $230 million from WazirX’s multisig cold wallet on July 18, the Indian centralized exchange (CEX) has announced a bug bounty program. It will hopefully allow the attacked platform to track the flow of assets as the hackers try to liquidate them and let WazirX seize them on other CEXs during liquidation efforts. The exchange wrote on X, “We’re reaching out to 500+ exchanges to block the identified addresses. Many exchanges are...

The defunct exchange FTX, once operated by the disgraced convict Sam Bankman-Fried, has settled with the Commodity Futures Trading Commission (CFTC) for a whopping $12.7 billion. This development comes after the lawsuit, filed by the CFTC, played out for 19 months. While both parties have agreed to the number, the court’s approval remains. “The Proposed Settlement is an integral and valuable component of the Debtors’ proposed chapter 11 reorganization plan,” Carl R Metzger, senior trial...

Binance faces four tax evasion charges from Nigeria’s Federal Inland Revenue Service (FIRS). A court in Abuja has scheduled its verdict for October 11. Binance’s lawyer in Nigeria, Ayodele Omotilewa, argued on July 12 to have all charges dropped against Binance due to lack of sufficient grounds. They maintained the crypto exchange was not guilty in front of Judge Emeka Nwite. The same judge dropped tax evasion charges against Tigran Gambaryan and Nadeem Anjarwalla, Binance executives...

Rep. Rich McCormick has urged the US government to declare Binance executive Tigran Gambaryan a hostage if he is not released from the Nigerian government by mid-July. Nigerian courts take a recess until September from mid-July, which will leave Gambaryan locked up for longer than anticipated if his case does not conclude in a few days. He has remained arrested in Nigeria’s infamous Kuje Prison since February. In a resolution brought to the House Committee on Foreign Affairs, Rep McCormick...

Whalefin, a Japanese crypto exchange run by Amber Group, was sold to Sony last August. Now, Sony wishes to operate the exchange and mark its full-fledged entry into the crypto ecosystem. The road to kicking off the exchange’s functioning has begun, with Whalefin and Sony pushing out announcements to keep users ready for the new launch. Whalefin operated under the subsidiary Amber Japan, which Sony bought, will now witness rebranding to be named S.Blox. Amber Japan, before Amber took over in...

The US Securities and Exchanges Commission (SEC) has brought a lawsuit against Consensys, the parent company of MetaMask, for providing staking and brokerage services around unregistered securities contracts. This suit was filed on 28 June, stating, “Consensys violated the federal securities laws by failing to register as a broker and failing to register the offer and sale of certain securities, thereby depriving investors of crucial protections that those laws afford.” It also mentions how...

US legislators Rep. French Hill (R-Ark.) and Rep. Chrissy Houlahan (D-Penn.)  visited Tigran Gambaryan in Kuje Prison when they visited Nigeria for talks on counterterrorism. Gambaryan was arrested in Nigeria in February on money laundering charges levied against Binance, which most agree is made up to extort money from the exchange. Nigeria had also detained him on tax evasion charges, but the courts acquitted him of it on 14 June. He was detained alongside another Binance executive, Nadeem...

CertiK, the Web3 cybersecurity firm, has exploited a vulnerability in Kraken’s software to siphon away $3 million. Kraken has accused CertiK of not returning the funds and trying to extort it for unreasonable amounts. On June 9, CertiK siphoned away the $3 million despite making a minute transaction of just $4, which was enough to alert Kraken. So, the exchange felt there was no reason to drain its treasury of the millions. No user funds were affected during this fiasco. Nick Percoco, Chief...