#CryptoCorner: Binance Hacked for 7,000 BTC, Bitstamp Names Head of US Operations, Bitfinex Issues White Paper for $1 Billion Exchange Offering
#CryptoCorner: Binance Hacked for 7,000 BTC, Bitstamp Names
Head of US Operations, Bitfinex Issues White Paper for $1 Billion Exchange
Offering
Point Roberts WA, Delta BC, May 8, 2019 -
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May 8
Crypto Corner
Crypto exchange
giant Binance has been hacked for 7,000 bitcoins (BTC), worth $40.7
million, according to an official
statement
from the company’s website. The withdrawal was part of a broader security
breach wherein the hackers took user API keys, 2FA codes and other info. The
hack only affected the exchange’s hot wallet, which holds just two percent of
the company’s Bitcoin holdings. The statement also says that the stolen funds
will be refunded in full. The exchange will halt withdrawals following the
incident:
The hackers had the patience to wait, and execute
well-orchestrated actions through multiple seemingly independent accounts at
the most opportune time. The transaction is structured in a way that passed our
existing security checks. It was unfortunate that we were not able to block
this withdrawal before it was executed. Once executed, the withdrawal triggered
various alarms in our system. We stopped all withdrawals immediately after
that.
Finance
Magnates
reports that Luxembourg-based crypto exchange Bitstamp has amped up its
expansion into the American market with the appointment of former head of
trading at Coinbase, Hunter Merghart, as the head of its U.S. operations.
Merghart will begin by opening a Bitstamp office in New York and establishing
relations with institutional clients in the country. He said:
“Bitstamp has
repeatedly proven that it believes in the future of the industry and is
committed to developing best practices that benefit its customers and the
cryptocurrency space. I look forward to helping Bitstamp more effectively serve
its existing clients in the U.S. and expanding its presence throughout the
States.”
Crypto exchange
Bitfinex has today issued a white paper outlining its
initial exchange offering (IEO) of its own LEO exchange tokens. The exchange
aims to raise $1 billion worth of Tether (USDT) in a sale to
private investors that will end on May 11. After which, the white paper reads:
“If
fewer than 1 billion USDt tokens are sold by private token sale, the Issuer may
thereafter sell remaining tokens at times and in a manner it deems appropriate
in its sole discretion, consistent with applicable law.”
According to a press
release
today, UK and Israel-based tech company Colu announced a partnership with
Belfast City Council to release Belfast Coin, a city-based cryptocurrency. The
aim of the coin is to act as a reward system for citizens and businesses in the
city, offering incentives for activities such as shopping at local businesses,
volunteering and civic activity that boosts the local economy and helps realize
environmental goals. Belfast Coin will be accepted as payment at local
businesses throughout the city.
Sam
Mowers, Investorideas
Read other editions of the Crypto Corner
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