Centralized Exchanges (CEX) | ForkLog

ForkLog 117 29.02.2024

Kyrgyzstan’s Four Dragons Exchange Reports Security Breach

The cryptocurrency exchange Four Dragons from Kyrgyzstan confirmed a security breach and asset theft. The incident occurred on February 22. The team described the financial loss as “significant,” without specifying exact figures. According to the Telegram channel “Mendeleevshina”, the amount involved is $841,000. Meanwhile, “VChK-OGPU”, citing unofficial sources, suggests the figure exceeds $100 million. Four […]

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ForkLog 58 29.02.2024

Coinbase Resolves ‘Zero Balance’ Glitch

Cryptocurrency exchange Coinbase has rectified a technical glitch that caused users’ account balances to disappear. Apps are now recovering. We had modeled a ~10x surge in traffic and load tested it. This exceeded that number. It’s expensive to keep services over-provisioned, but we’ll need to keep working on auto-scaling solutions, and killing any remaining bottlenecks. […]

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ForkLog 33 27.02.2024

HTX Withdraws Hong Kong License Application

The bitcoin exchange HTX, formerly known as Huobi, has withdrawn its application for a license in Hong Kong, according to the South China Morning Post (SCMP). The publication reports that this occurred three days after submitting the form to the Securities and Futures Commission (SFC). Under the regulatory regime adopted last year, companies offering crypto […]

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ForkLog 31 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On February 23, approximately $56.5 million was withdrawn from the hot wallets of the cryptocurrency exchange BitForex, noted on-chain researcher ZachXBT.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 20 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 40 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 49 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 10 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 18 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 14 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 17 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 13 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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