NFT Deposits and Withdrawals are Now Live on FTX US for Institutional Favorite Solana (SOL)

NFT Deposits and Withdrawals are Now Live on FTX US for Institutional Favorite Solana (SOL)

Cryptocurrency exchange FTX.US has launched the non-fungible (NFT) marketplace for Solana-based NFTs.

“NFT deposits/withdrawals live on FTX US for Solana!” announced FTX CEO Sam Bankman Fried late on Monday.

While currently limited to Solana-based NFTs, soon FTX.US will also add support for Ethereum-based NFTs.

The buying and selling of NFTs on FTX.US’s marketplace have been limited to those minted directly on the website before this launch. Additionally, the Solana-based collection didn’t have an established marketplace either, with the majority of them being traded on Digital Eyes and Solanart.

But now, FTX has joined in to “provide both US and global users with a regulated marketplace that is intuitive and responsive to their needs,” FTX.US president Brett Harrison said in a statement.

“We’re live!” announced Harrison on Twitter while noting that both “buy now” and auction options are supported on the platform. In case your NFT isn’t verified, FTX will also verify the authenticity of your NFT.

While there is no listing fee on FTX.US, the platform will charge a 2% exchange fee from the seller plus creator royalties.

All the NFTs will be listed in SOL. So, to get started, the user has to fund their exchange wallet with crypto or US dollar to get some SOL tokens.

Solana has actually become a favorite among institutional investors, with $12.5 million of inflows recorded in SOL investment products last week. Overall, this year, Solana has seen $96 million in inflows, bringing its AUM to $119 million — the fifth largest after Bitcoin, Ethereum, Multi-asset, and Binance, according to CoinShares.

On Monday, derivatives platform FTX also increased its instant Signet transfers to allow 10 million per day in withdrawals and deposits to be auto-credited. Earlier this month, the rapidly growing exchange had integrated Signature Bank’s instant Signet deposits and withdrawals for institutions with initial rollout limiting withdrawals to 100k/day.

In other news, CEO Bankman-Fried is stepping down from quant trading firm Alameda Research to focus on crypto exchange FTX. Sam Trabucco and Caroline Ellison will now head Alameda Research as co-CEOs.

The crypto trading behemoth, which made a $1 billion profit last year, is involved in investments, trading, market-making, and yield farming in the crypto space.

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Author: AnTy

Japanese Crypto Exchange Liquid Suspends Deposits and Withdrawals Following Security Breach

Japanese Crypto Exchange Liquid Suspends Deposits and Withdrawals Following An $80M Security Breach

Reward-earning platform Celsius Network used by Liquid to allow its users to earn yield on crypto assured that their assets and accounts are unaffected by the accident.

Japan-based regulated cryptocurrency exchange Liquid has suspended the deposit and withdrawals of crypto assets after its hot wallets were hacked. It has not yet been confirmed just how many assets have been stolen.

In a tweet on Thursday morning, the exchange said that its hot wallets that were compromised as such are moving the assets into the cold wallet.

“We are currently investigating and will provide regular updates. In the meantime, deposits and withdrawals will be suspended,” said the exchange at the time.

This is in contrast with the exchange’s blog post about three years back when it said that they “keep 100% of customer crypto assets in cold wallet storage,” calling it a “no-brainer,” citing the staggering amount of funds lost in crypto hacks and scams.

But the exchange ended up falling victim to a hack, after all.

In a separate tweet, Liquid shared four blockchain addresses, for BTC, ETH, TRX, and XRP, that are believed to be associated with the hacker. The addresses specified have received 107.4 BTC worth $4.79 million, Ether address received about $69 million worth of ETH and other ERC-20 tokens, and TRX and XRP addresses had assets worth over $10 million combined. In total, the hack is estimated to be worth about $80 million.

Some wondered if this hack had any impact on Celsius Network. A few months back, Liquid allowed its customers to earn a yield on their crypto through the reward-earning platform Celsius.

Celsius Network CEO Alex Mashinsky assured its customers that “No Celsius Network assets or accounts were affected in the Liquid Global incident,” adding the Liquid yield account on its platform is also safe and was not affected.

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Author: AnTy

Colombian Bank to Allow Deposits & Withdrawals with Crypto Exchanges in Government-Sponsored Pilot

Colombian Bank to Allow Deposits & Withdrawals with Crypto Exchanges in Government-Sponsored Pilot

Banco de Bogotá is the first commercial bank of Colombia that plans to test deposits and withdrawals with cryptocurrency exchanges.

This initiative is part of a year-long government-sponsored pilot that will test banking services for crypto platforms.

Colombia’s financial watchdog, the Financial Superintendency of Colombia (SFC), had announced earlier this year that nine crypto firms were chosen to test banking services for crypto platforms.

Crypto exchanges Binance and Gemini were chosen by the SFC, which will operate with Colombian banks Davivienda and Bancolombia, respectively.

Before this pilot, banks were restricted from transferring money to exchanges due to financial regulations.

Starting in August, Banco de Bogotá will allow its customers to send and withdraw money from Chilean crypto exchange Buda.com. Both the parties involved, however, are still working on the terms and definition of the contract.

This agreement between Banco de Bogotá and Buda.com is the second such to be launched as crypto exchanges Panda and Bitpoint started working with Colombian fintech Movii this month.

Banco de Bogotá will also operate with Mexican exchange Bitso, but that partnership is yet to be started.

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Author: AnTy

South African Crypto Exchange Suspends Bitcoin & Litecoin Withdrawals Due to Balance ‘Discrepancies’

South African Crypto Exchange Suspends Bitcoin & Litecoin Withdrawals Due to Balance ‘Discrepancies’

South Africa-based cryptocurrency exchange iCE3 suspended Bitcoin (BTC) and Litecoin (LTC) withdrawals this week after noting “discrepancies” in the balances of these crypto-assets on the platform.

Director GC Grobler announced on Tuesday that “after consultation and deliberation with our partner Merkeleon.com and their subsidiary Coinspaid.com, we have not been able to reach a satisfactory conclusion.”

As such, the exchange decided to suspend deposits and trading of these two cryptocurrencies, “pending the outcome of a full investigation and reconciliation,” on the advice of their legal and adoption team.

“This is being done for the protection of all clients,” reads the notice. Holders of other crypto assets were unaffected, and withdrawals allowed,

“We urge you to do so as soon as possible.”

The exchange reported several other issues, including their email system going down, some users not able to log in, and unable to withdraw Bitcoin Cash (BCH). At one point, ZAR (South African Rand) withdrawals were also affected due to reaching the daily transfer limits.

As of today, withdrawals for crypto access except for BTC, LTC, and USDT are up to date. The exchange is expected to have all USDT withdrawals cleared in the next 24 hours.

“We have a manual backup solution in place to continue processing withdrawals as it appears likely the platform will be taken offline completely in the next 24hours,” noted the exchange adding, “We understand your frustration, and we are doing our best to communicate information as fast as possible.”

The exchange will continue to update the situation as it progresses.

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Author: AnTy

Crypto Exchange EXMO Hacked for BTC, ETH, XRP, ZEC, USDT, and ETC

Crypto Exchange EXMO Hacked; BTC, ETH, XRP, ZEC, USDT, and ETC Stolen By Attacker

All the withdrawals are currently suspended temporarily. Any customer loss will be “covered completely by EXMO.”

Cryptocurrency exchange EXMO has suffered an attack.

On bleeding Monday, EXMO announced on Twitter that they detected some large suspicious withdrawal activity ever since December 21st at 2:27:02 UTC.

As per their security audit, some amounts of BTC BTC -3.05% Bitcoin / USD BTCUSD $ 22 794,0396
-695.22 -3.05
Volume 45.73 b Change -695.22 Open $22 794,0396 Circulating 18.58 m Market Cap 423.46 b
4 h Crypto Exchange EXMO Hacked; BTC, ETH, XRP, ZEC, USDT, and ETC Stolen By Attacker
, XRP XRP -8.66% XRP / USD XRPUSD $ 0,5158
-0.04 -8.66
Volume 9.87 b Change -0.04 Open $0,5158 Circulating 45.4 b Market Cap 23.42 b
4 h Crypto Exchange EXMO Hacked; BTC, ETH, XRP, ZEC, USDT, and ETC Stolen By Attacker
, ZEC ZEC -8.47% Zcash / USD ZECUSD $ 67,7777
-5.74 -8.47
Volume 499.53 m Change -5.74 Open $67,7777 Circulating 10.74 m Market Cap 727.87 m
4 h Crypto Exchange EXMO Hacked; BTC, ETH, XRP, ZEC, USDT, and ETC Stolen By Attacker
, USDT USDT 0.00% Tether / USD USDTUSD $ 0,9999
0.00 0.00
Volume 70.2 b Change 0.00 Open $0,9999 Circulating 20.31 b Market Cap 20.3 b
2 h Tether’s Exchange Supply & $900 Billion US Stimulus Deal Offers Fuel to Bitcoin Bulls 4 h Crypto Exchange EXMO Hacked; BTC, ETH, XRP, ZEC, USDT, and ETC Stolen By Attacker
, ETC ETC -5.35% Ethereum Classic / USD ETCUSD $ 6,1169
-0.33 -5.35
Volume 1.08 b Change -0.33 Open $6,1169 Circulating 116.31 m Market Cap 711.47 m
4 h Crypto Exchange EXMO Hacked; BTC, ETH, XRP, ZEC, USDT, and ETC Stolen By Attacker
, and ETH ETH -4.21% Ethereum / USD ETHUSD $ 609,4206
-25.66 -4.21
Volume 14.42 b Change -25.66 Open $609,4206 Circulating 113.93 m Market Cap 69.43 b
4 h Crypto Exchange EXMO Hacked; BTC, ETH, XRP, ZEC, USDT, and ETC Stolen By Attacker
in its hot wallets have been transferred out of the exchange. These affected hot wallets account for 5% of its total assets.

As such, the exchange has “temporarily suspended” all the withdrawals.

EXMO is currently investigating the issue and “taking measures to protect your funds.”

“If any user fund is affected by this incident, it’ll be covered completely by EXMO,” ensured the exchange.

EXMO also shared a list of addresses where the hackers are sending their stolen funds to.

The exchange reported the hacking to the London police this morning and is also keeping in touch with their cybercrime team.

The exchange ranks at 30th place on Coinmarketcap with 24 hours volume of $47.4 million.

EXMO recorded web traffic of 580.82k in November, up from the previous month but down from 890k visits it saw in June this year, as per SimilarWeb. The exchange receives nearly half of its traffic, 49.93% from Ukraine, followed by Russia, Belarus, Moldova, and Kazakhstan.

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Author: AnTy

OKEx Exchange to Resume Withdrawal Services As Founder Is Released From Police Custody

  • The china-based crypto exchange OKEx is set to resume withdrawals by November 27.
  • One of the ‘key private owners’ has been released by the Chinese police.

Troubled China-based crypto exchange OKEx is set to resume its withdrawal services starting Friday after a successful withdrawal test by the exchange. According to the reports, the exchange’s funds were locked beginning November 16th as one of the ‘private-key holders’ was held to help Chinese authorities in investigations.

Some outlets have reported that the mysterious private key holder is OKEx Founder, Mingxing “Star” Xu, who is rumored to be released from police custody. However, the exchange released a statement denying any connection with the founder.

Successful test withdrawals on OKEx

First reported by Crypto Quant, an on-chain analytics firm, OKEx moved about 0.02 BTC (~$380) from their wallet on Monday, signaling the exchange is getting its withdrawal service back up. According to Crypto Quant CEO Ki-Young Ju, the withdrawal opening could cause volatility across the crypto markets as OKEx users rush to withdraw their funds.

“I think #OKEx withdrawal reopening may cause volatility due to bulk withdrawal requests,” Ki tweeted.

The exchange withdrawals were halted on October 16th after one of the private key holders was under police custody assisting in an investigation. According to local media outlets, the private key holder is rumored to be the founder of OKEX, Star Xu.

The saga behind OKEx founder

OKEx users learned of the release of OKEx founder, Star Xu, bizarrely. The founder’s ‘WeChat Steps,’ an application within the WeChat messaging app that calculates steps, showed that he had started walking again. According to Xu’s WeChat statement, the Chinese police held him in custody due to a problem with the purchase of LEAP Holdings, a Hong Kong exchange-listed company, not the widely reported money laundering claims.

According to Decrypt’s reports, OKEx purchased LEAP Holdings to gain a “backdoor listing” on the Hong Kong stock exchange. However, questions arose from the millions of dollars Xu raised to buy the company – an issue that remains a mystery despite Xu’s release.

While the exchange’s private keys being “found” coincides with the OKEx founder’s release, the exchange released a statement distancing itself from Xu.

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Author: Lujan Odera

KuCoin Hack: Exchange’s Insurance Fund to Cover User Loss “Completely,” Tether Freezes 33M USDT

The Singapore-based cryptocurrency exchange KuCoin released a statement regarding detecting large withdrawals on September 26, 2020, at 03:05:37 (UTC+8).

The exchange has reportedly lost $150 million worth of funds, although KuCoin hasn’t declared it yet but released “suspicious addresses,” which are constantly updated. As per the company’s internal security audit report, some BTC, Tether, ERC20 tokens, and other cryptos from KuCoin’s hot wallets were transferred out of the exchange.

Tether has already frozen all the stolen USDT, but the community isn’t supportive of the move. This isn’t even the first time they did so; one address in 2017, eight in 2018, seven in 2019, and 24 in 2020 so far has been frozen by the company.

“If you steal our Tether, we’ll steal it right back,” commented one trader on this move.

KuCoin assured that “the assets in our cold wallets are safe and unharmed, and hot wallets have been re-deployed.”

In a live stream, KuCoin CEO Johnny Lyu said one or more hackers “stole” the private keys to hot wallets but those cold wallets, that aren’t connected to the Internet as such considered more secure, were unaffected.

He also said the exchange is in contact with the police and that “all the loss will be covered by KuCoin risk provisions.”

The exchange has transferred the remaining crypto assets to the new hot wallets.

The Asian exchange that trades over 200 cryptocurrencies has a daily trading volume of about $100 million, as per CoinGecko. Following the security breach, its exchange token KCS fell by over 17% but has since recovered to above $0.90.

The trouble at the exchange first started when users complained about withdrawal issues. Initially, it was maintained that the platform was experiencing a system issue, and later, KuCoin’s admin team claimed that “transactions are simply pending,” and funds are SAFU.

While Liu said the amount lost is “small,” that might not be the case, many are pointing out that there could be over 1k BTC and tokens like ETH, LTC, Omni USDT, XRP, YFI, OMG, Maker, Ocean Token, Chroma, Gladius, Hawala, and others lost.

Currently, the investigation is going on, and a security review will also be conducted. Still, the exchange has said that any losses suffered by a user would be “covered completely” by KuCoin and its insurance fund.

As “The People’s Exchange,” we will take full responsibility and maintain transparency,” said the exchange in an official statement.

For now, the exchange has suspended the deposits and withdrawals service, which will be restored gradually once it ensures a safe state.

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Author: AnTy

Bitfinex Temporarily Shuts Down Deposits and Withdrawals, Says Exchange Funds are Safe

Bitfinex Temporarily Shuts Down Deposits and Withdrawals, Says Exchange Funds are Safe

The crypto exchange Bitfinex has recently announced that its deposit and withdrawals were suspended. The company used its Twitter profile in order to make the announcement.

According to the exchange’s tweet, this was happened due to some outage on one of the company’s network providers. Therefore, they had to shut down the services temporarily.

They also affirmed that all funds remained in cold storage and that the situation should be restored in around three to four hours. This was pretty much what happened. Around three hours after the announcement, the services were live again.

During the downtime, the CTO of the company, Paolo Ardoino, has posted several links to the hot wallets of the company. He made it in order to show to the community that their funds were safe and that nothing was happening.

Downtime Caused Worries Because Of Recent Controversy

One of the reasons why the downtime was so worrisome for the community was because of the recent controversy that Bitfinex and its sister company Tether faced. The New York Attorney General (NYAG) Letitia James has accused the two companies after Bitfinex lost $850 million USD and Tether used the funds of its stablecoin in order to make up for the money that was lost.

This created a major problem for the companies, which are now facing the NYAG in court. Bitfinex never actually revealed the loss to its investors and used the money of the stablecoin, which was supposed to be backed 1-to-1 with USD. It was a double mistake.

The Community Reacted

The price of Tether has somehow remained stable despite all the trouble, but it is fair to say that the confidence of the investors has been badly shaken by what happened, which is why people were so suspicious today when the downtime happened.

A user called @CryptoFraggle, for instance, has shown a Simpsons gif affirmed that “the end is near”, something that many investors and traders were probably thinking when the company affirmed that the downtime was happening.

Other people, such as @Naji_GK, only affirmed: “Let’s panic”. Others affirmed that the case was very similar to Cryptopia when the exchange was hacked.

Fortunately, most of the users preaching doom were wrong. There was no reason to be so afraid, after all, since the funds were eventually released for withdrawals. It looks like, at least today, people will not have to worry anymore.

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Author: Gabriel M