Category: Cryptocurrency Exchange

India Probes Cryptocurrency Exchange Wazirx in Chinese Money Laundering Case

India Probes Cryptocurrency Exchange Wazirx in Chinese Money Laundering Case

India’s Directorate of Enforcement (ED) has reportedly sent a notice to Wazirx, one of the largest cryptocurrency exchanges in India, under the Foreign Exchange Management Act, 1999, (FEMA). The investigation was initiated “on the basis of the ongoing money-laundering investigation into Chinese owned illegal online betting applications,” the ED detailed. ED’s FEMA Investigation of Wazirx […]

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Bank of Namibia Warns Crypto Traders It ‘Will Not Entertain Complaints’ if They Get Scammed

Bank of Namibia Warns Crypto Traders It ‘Will Not Entertain Complaints’ if They Get Scammed

The Bank of Namibia (BON) has warned individuals investing in cryptocurrencies that it will not entertain their complaints should they get scammed. The institution argues that since its mandate does not currently cover digital currencies, it lacks the “legal power” to follow up on such complaints. Growing Namibian Interest in Crypto This latest BON warning […]

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NYAG Court Order to Shut Down Coinseed Succeeds, CEO Creates Profanity Token for Attorney General

NYAG Court Order to Shut Down Coinseed Succeeds, CEO Creates Profanity Token for Attorney General

The crypto trading platform Coinseed is shutting down operations according to a written statement from the company’s CEO Delgerdalai Davaasambuu. A court order secured by New York Attorney General Letitia James told Coinseed to halt all of its operations. Following the announcement of the shutdown, Coinseed’s CEO said he created an ERC20 token called “FLJ” […]

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Lawsuit Accuses Korean Crypto Exchange of $3.5 Billion Scam, Tens of Thousands Defrauded

Lawsuit Accuses Korean Crypto Exchange of $3.5 Billion Scam, Tens of Thousands Defrauded

A class action lawsuit has been filed in South Korea accusing cryptocurrency exchange V Global of defrauding investors. The police reportedly estimate that 69,000 people have invested with the crypto exchange and the damage amounts to 3.8 trillion won. Crypto Exchange Sued for Defrauding Investors South Korean cryptocurrency exchange V Global has been accused of […]

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Binance Extends Blockade of Zimbabwean Crypto Users to Include Non-Resident Traders

Binance Extends Blockade of Zimbabwean Crypto Users to Include Non-Resident Traders

Malta-based cryptocurrency exchange, Binance, has reportedly extended its blockade of Zimbabwean users to include non-resident citizens. As a result of the new measures, all Zimbabwean nationals are now precluded from using the Binance trading platform. Zimbabwean Nationals Blocked Prior to the introduction of this new measure, Binance apparently allowed Zimbabwean nationals with non-Zimbabwean residential addresses […]

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South African Crypto Exchanges Confirm Receiving Request for Client Data From Tax Collection Body

South African Crypto Exchanges Confirm Receiving Request for Client Data From Tax Collection Body

Three leading cryptocurrency exchanges from South Africa recently confirmed receiving a request for client data from the country’s revenue collector. In a joint statement, the exchanges, (namely Altcointrader, Luno, and Valr) said this request, which targets a “selection of customers”, has been made “in terms of section 46 of the (South African) Tax Administration Act.” […]

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Crypto exchange Korbit launches NFT marketplace in South Korea

Crypto exchange Korbit launches NFT marketplace in South Korea

South Korean crypto exchange Korbit has launched a non-fungible token (NFT) marketplace, enabling NFT creators and investors in the region to participate in the NFT ecosystem. Korbit claims this will be the first NFT marketplace in South Korea. “The local NFT market is still in a fledgling stage, compared to global ones, and the Korbit […]

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US Authorities Seek Court Order to Shut Down Crypto Trading Platform Allegedly Duping Thousands of Investors

New York Attorney General Letitia James is seeking a court order to immediately shut down the operations of cryptocurrency exchange Coinseed. The attorney general previously filed a lawsuit against the crypto exchange but the platform allegedly continued to operate and dupe investors. US Authorities Take Urgent Action Against Coinseed The Office of Attorney General Letitia […]

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Court Authorizes IRS to Summon User Records From Kraken Cryptocurrency Exchange

The Internal Revenue Service (IRS) has obtained court authorization to serve a John Doe summons on cryptocurrency exchange Kraken. The tax agency is seeking data of users with $20,000 or more in cryptocurrency transactions during the years 2016 to 2020. IRS Wants User Information From Crypto Exchanges The U.S. Department of Justice (DOJ) announced Wednesday […]

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Cryptocurrency Exchange Hotbit Hacked: Systems Paralyzed, 2 Million Users Affected

A cryptocurrency exchange with about 2 million users worldwide announced that it has “suffered a serious cyber attack.” A number of basic services are paralyzed and the attacker tried to access the exchange’s wallets. Consequently, the platform has shut down, stating that it needs to perform a “comprehensive inspection” which is expected to last one […]

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