Centralized Exchanges (CEX) | ForkLog

ForkLog 29 26.02.2024

Speculation of Hack or Scam at BitForex Exchange Involving $56 Million

On February 23, approximately $56.5 million was withdrawn from the hot wallets of the cryptocurrency exchange BitForex, noted on-chain researcher ZachXBT. Seeing some suspicious activity with the crypto exchange @bitforexcom. On Feb 23 their hot wallets saw outflows of ~$56.5M. Shortly after this time withdrawals stopped processing with no official announcements having been made since. […]

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ForkLog 17 26.02.2024

OTCPro User Disappears with $650,000 After Error

An Australian cryptocurrency exchange, OTCPro, mistakenly credited user Koh Seng Chai with $653,000 instead of $65,300. He withdrew most of the funds and vanished, according to ABC News, citing court documents. The incident occurred in January when an internal glitch turned 99,500 AUD into 995,000 AUD. The exchange’s management discovered the error on January 4 […]

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ForkLog 36 21.02.2024

Experts Report Withdrawal of 24,000 ETH from Bankrupt AAX Exchange

Analysts at Cyvers Alerts have detected suspicious transactions, allegedly involving the laundering of 24,000 ETH (~$69.6 million) from the defunct bitcoin exchange AAX. ?INVESTIGATION? ?Our system has detected suspicious transactions involving @AAXExchange.It’s a Hong Kong-registered exchange where CEO Thor Chan resigned in May ’21.Just two days after @FTX_Official filed for bankruptcy, #AAX halted all withdrawals […]

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ForkLog 47 17.02.2024

Revolut to Launch Cryptocurrency Exchange

Fintech company Revolut is testing a beta version of a cryptocurrency exchange aimed at experienced traders, according to CoinDesk, citing an email to a UK customer. The publication reports that the trading platform will offer more in-depth market analytics and lower fees than the digital bank’s app. Specific timelines for testing and the project’s launch […]

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ForkLog 9 16.02.2024

Coinbase Reports $273 Million Quarterly Profit

In the fourth quarter of 2023, the cryptocurrency exchange Coinbase reported a net profit of $273 million. For the year, the figure amounted to $95 million with total revenue of $3.1 billion, the company announced in a letter to investors. Our Q4’23 and full-year 2023 update is in. Read the full shareholder letter and tune […]

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ForkLog 17 15.02.2024

Bitget Leads CEX in Derivatives Trading Volume

In January 2024, the cryptocurrency exchange Bitget recorded a 28% increase in trading volumes compared to the previous month, setting a record among CEX. The platform announced this in its monthly report citing data from WuBlockchain.

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ForkLog 13 15.02.2024

FDUSD Trading Pairs Reach Record Volume on Binance

Trading pairs with the stablecoin First Digital USD (FDUSD) accounted for 38% of the total spot trading volume on Binance, according to experts from The Block. Data: The Block. The figure rose by 42.6% over the month. “It was quite expected that FDUSD would gain some popularity on Binance, considering that BTC/FDUSD trading is fee-free, […]

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ForkLog 16 14.02.2024

Digitex CEO Accused of Violating US Bank Secrecy Act

The US Attorney’s Office filed a lawsuit against Adam Colin Todd, CEO of the bitcoin exchange Digitex, for lacking an “adequate” AML/KYC program on the platform. According to authorities, the accused “willfully caused Digitex Futures to violate the Bank Secrecy Act by failing to establish and implement an anti-money laundering system.” Investigators allege that from […]

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ForkLog 12 13.02.2024

Russians Dominate Bybit Traffic in January

In January, Russian users led in visits to the cryptocurrency exchange Bybit, accounting for 23% of the traffic. This was reported by journalist Colin Wu. Russian activity was also noted on platforms MEXC (19% of total traffic), Bitget (11%), and HTX (10%). Data: Wu Blockchain. Alongside users from Russia, 10% of all HTX visits were […]

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ForkLog 30 12.02.2024

Bybit Launches ‘Trader’s Year of 2024’ with Tournaments and VIP Events

Cryptocurrency exchange Bybit has unveiled its Bybit Trader’s Year of 2024 campaign, featuring monthly competitions, educational initiatives, a gala evening for VIP users, and various events celebrating the upcoming Bitcoin halving and the platform’s sixth anniversary. The campaign will run throughout the year. To participate in the tournaments, one must: register on Bybit; have a […]

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ForkLog 11 07.02.2024

Binance Confirms Asset Coverage for Users

The cryptocurrency exchange Binance has released the audit results of its reserves, asserting an over-collateralization of client funds. As of February 1, the company held 609,477 BTC and 4,353,718 ETH. User deposits in leading cryptocurrencies amounted to 594,688 BTC and 4,163,085 ETH, with coverage reaching 102% and 104%, respectively. In the stablecoin USDT, coverage was […]

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ForkLog 9 07.02.2024

CEO of Bitsonic Sentenced to Seven Years for Fraud

The CEO of South Korean cryptocurrency exchange Bitsonic, Jinwook Shin, has been sentenced to seven years in prison for his involvement in a fraudulent scheme amounting to 10 billion won ($7.5 million), according to local media. Court documents reveal that from January 2019 to May 2021, Shin artificially inflated trading volumes on the exchange and […]

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