From November 2, 2022, when red-flags were raised about the financial dealings of Alameda Research and FTT, a token issued by FTX, the fraud charges against crypto exchange founder and billionaire Sam Bankman-Fried came to an end on March 28, 2024. He was sentenced to 25 years or approximately 300 months imprisonment by a U.S. court … Read more
BitForex, an exchange that used to be one of the leading crypto exchanges, has gone under after allegedly disappearing with at least $57 million in customers’ funds. A few days before the Hong Kong-based exchange’s disappearance, it published on its now inaccessible site that its CEO and co-founder Jason Lou stepped down as CEO. Background On February … Read more
To some people, cryptocurrency investment is the new oil-money, but it comes with lots of risks and the major challenges facing it is scams, which come in different forms. Research indicates that existing scams persist, albeit with modified tactics aimed at deceiving cryptocurrency holders, especially during the Bitcoin boom. For instance, scammers may be particularly … Read more
The movement of bitcoin and other cryptocurrencies to self-custody by holders reached a historic level a few days after the collapse of FTX. Data insight provider for digital assets glassnode tweeted that withdrawals from crypto exchanges to self-custody wallets surged by a record that has only been seen three times since 2020. “Following the collapse … Read more
Following the official announcement by the founder of FTX Samuel Bankman-Fried on Friday, November 11, 2022, that he filed for bankruptcy of the crypto exchange, different authorities confirmed that the FXT exchange has been hacked. The world’s largest crypto tracking portal CoinMarketCap (CMC) on its site warned traders to be careful and warned them to, “avoid … Read more
The article explores the largest cryptocurrency hacks since MT Gox became the major victim of a crypto attack in 2011. Africrypt Hack On April 13, 2021, two brothers and also the founders of Africrypt Ameer Cajee and Raees Cajee informed their investors that the Africrypt Bitcoin Investment platform had been hacked. Subsequently, a group of … Read more
Following the successful hacking and stealing of $534 million from CoinCheck NEM wallets, one of the Japanese largest cryptocurrency trading platforms Friday, January 26, 2018, here are some of the things you probably want to know: No. 1: Coincheck hacking is the largest cryptocurrency theft in the history of digital currency. It has left the … Read more
BitConnect stopped their Lending and Exchange Service and converted their user’s outstanding loans into BCC Coins. The action led to a large panic sale. BCC Coin fell in value, from $363 to $9, meanwhile, it was already $ 20+ but later slipped to $18.43USD, representing 88.90% crash, and at the time of updating this post, … Read more