India | ForkLog

ForkLog 18 15.08.2024

Binance Resumes Operations in India After Paying $2.2 Million Fine

Cryptocurrency exchange Binance has registered as a “reporting entity” with India’s Financial Intelligence Unit (FIU) and has resumed operations in the country. #Binance goes live in India ?? Binance is now registered as a reporting entity with India’s Financial Intelligence Unit, marking our 19th global regulatory milestone! Our website and app are now fully available […]

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ForkLog 12 09.08.2024

WazirX to Reverse Transactions Following $230 Million Breach

The Indian cryptocurrency exchange WazirX will reverse all transactions conducted on its platform following a $230 million hack and the suspension of withdrawals on July 18. ? Important Update: We are actively listening to your feedback and taking decisive action to address your concerns! After careful consideration of the situation and the feedback received from […]

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ForkLog 17 25.07.2024

Russia Turns to Cryptocurrencies for Cross-Border Payment Solutions

Russian companies are increasingly encountering difficulties in international transactions due to the threat of secondary sanctions against their counterparts. Against this backdrop, cryptocurrencies and payments through intermediaries are gaining popularity, writes Bloomberg. The most significant challenge for Russia involves dealings with China, whose trade with Russia reached a record $240 billion in 2023. In many […]

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ForkLog 12 18.07.2024

North Korean Hackers Implicated in WazirX Breach, Says Elliptic

Analysts at Elliptic tracked the movement of funds stolen from the Indian cryptocurrency exchange WazirX, which was breached today, July 18. They concluded that North Korean hackers were behind the cyberattack. The total damage from the breach is estimated at $235 million at the time of writing. More than 200 different digital assets were stolen, […]

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ForkLog 23 18.07.2024

Indian Cryptocurrency Exchange WazirX Hacked for $234.9 Million

On July 18, Cyvers Alerts reported a breach of the Indian cryptocurrency exchange WazirX. ?ALERT?Hey @WazirXIndia, Our system has detected multiple suspicious transactions involving your Safe Multisig wallet on the #ETH network. A total of $234.9M of your funds have been moved to a new address. Each transaction’s caller is funded by @TornadoCash. The suspicious… […]

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ForkLog 8 20.06.2024

Binance Fined $2.2 Million by Indian Authorities

The Financial Intelligence Unit of India (FIU) imposed a fine of 18.82 crore Indian rupees ($2.2 million) on the cryptocurrency exchange Binance for providing services to clients without adhering to national anti-money laundering regulations. At the end of 2023, the FIU accused nine bitcoin exchanges of operating without registration and violating AML/CFT laws. Among others, […]

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ForkLog 40 10.05.2024

Binance Faces Canadian Fine and Registers in India

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed an administrative fine of 6,002,000 CAD (~$4.4 million at the time of writing) on the cryptocurrency exchange Binance. #FINTRAC has imposed an administrative monetary penalty of $6,002,000 on Binance Holdings Limited, a foreign money services business. For more information, consult the Centre’s website: […]

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ForkLog 22 21.04.2024

Indian National Admits to $9.5 Million Theft from Coinbase Users

A 30-year-old Indian national, Chirag Tomar, has confessed to charges of creating a fake website of the cryptocurrency exchange Coinbase and stealing $9.5 million in digital assets. This was reported by CoinDesk, citing court documents. On December 20, 2023, Tomar arrived in the United States on a tourist visa to visit family but was arrested […]

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ForkLog 17 18.04.2024

Binance Secures Full License in Dubai and Eyes Return to India

The government of Dubai has granted a full Virtual Asset Service Provider (VASP) license to Binance Holdings following the former CEO of the exchange, Changpeng Zhao, relinquishing control over the platform in the jurisdiction. This was reported by Bloomberg, citing sources. April 18, 2024 | 13:39Update: Binance representatives have issued an official press release regarding […]

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ForkLog 15 09.03.2024

India Allocates $1.25 Billion for AI Development

The Indian Cabinet has approved the allocation of over 103 billion rupees (approximately $1.25 billion) for the IndiaAI initiative, which aims to “empower AI startups and expand access to computing infrastructure.” A landmark day for tech and innovation! The Cabinet’s approval for the IndiaAI Mission will empower AI startups and expand access to compute infrastructure, […]

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ForkLog 40 10.01.2024

Binance and KuCoin Apps Removed from India’s App Store

Apple has removed ten apps of foreign cryptocurrency exchanges from the App Store in India following complaints from local authorities, reports CoinDesk. The affected platforms include Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex. In late December 2023, India’s Financial Intelligence Unit accused these exchanges of operating without registration and violating anti-money […]

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ForkLog 13 29.12.2023

Indian regulator issues warning to nine bitcoin exchanges

The regulator accused a number of major crypto exchanges of operating without registration and violating anti-money laundering and counter-terrorism financing laws.

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