Some of the biggest names in the crypto exchange business are reportedly eager to capture India’s cryptocurrency trading market, even as the government is yet to issue clear-cut regulatory policies. According to Reuters, sources say Kraken, Bitfinex and KuCoin are examining the potential for setting up shop in India. Crypto exchange giant Binance entered the Indian market back in 2019, acquiring one of the country’s most recognizable cryptocurrency trading platforms WazirX. The aforementioned trio could also pursue a similar entry strategy by acquiring or forming strategic partnerships with other Indian crypto exchanges. According to the Reuters source, these global exchanges …

The Ontario Securities Commission, or OSC, is taking stern action against two companies associated with KuCoin for allegedly failing to comply with local securities laws, setting the stage for further regulatory action against the cryptocurrency platform. The companies targeted by the OSC are Seychelles-based Mek Global Limited and Singapore-based PhoenixFin Pte. Ltd. Collectively, the companies operate KuCoin, one of the world’s fastest-growing cryptocurrency exchanges. As of Tuesday, KuCoin had processed more than $1.3 billion worth of crypto transactions over the previous 24 hours, according to industry data. That puts it in the 35th position globally among cryptocurrency exchanges. “KuCoin is …

One of the biggest trends in recent months has seen Bitcoin flow out of exchanges into wallets. Generally, this is interpreted as a bullish sign — indicating that investors are optimistic about further growth in cryptocurrency prices. But delve deeper, and there’s more to this than meets the eye. The crypto industry has grown immeasurably over recent years — making stars out of a number of exchanges. Platforms such as Binance and Coinbase now handle billions of dollars in trading volumes every day. With this come concerns that centralization is creeping in — and fears that major exchanges are becoming …

Fresh institutional and retail investor inflows into the cryptocurrency market have led to bull market conditions for many top tokens from blue-chips like Bitcoin (BTC) and Ether (ETH) to more recently established DeFi projects like AAVE and Synthetix (SNX). Exchange tokens are another easily overlooked sub-sector of the market but they have been performing exceptionally well in 2021 as increases in trading volumes results in a larger pool of fees to collect when the exchange’s native token is used for settlement. Native exchange tokens are also typically used as the base pair for funding new listings and token buybacks. Here …

The United Nations has accused the North Korean state of stealing $281 million worth of crypto from an exchange during September 2020. According to Reuters, the findings from a “confidential report” authored by independent sanctions monitors for U.N. Security Council members “strongly suggests” links between the hack’s perpetrators and the North Korean regime. Reuters quoted the report: “Preliminary analysis, based on the attack vectors and subsequent efforts to launder the illicit proceeds, strongly suggests links to the DPRK.” Reuters noted the U.N. report accuses North Korea of using the stolen funds to support its nuclear and ballistic missile programs in …

KuCoin CEO Johnny Lyu has revealed that users did not suffer losses on account of the hack that occurred in 2020. The KuCoin chief made this known as part of a letter titled “2020, 2021, and Beyond.” Back in September 2020, the cryptocurrency exchange suffered a security breach with 230 different cryptos stolen from its hot wallet. At the time, the total theft amounted to about $285 million. In the letter, Lyu revealed that the combined efforts of other exchange platforms and law enforcement agencies led to the recovery of $239.45 million. Indeed, back in November 2020, Cointelegraph reported that …

In the latest step towards full recovery after a devastating hack in September, Crypto exchange KuCoin announced today in a blog post that it has “restored the deposit and withdrawal services of all tokens.” The announcement follows a partial reopening that took place in October where users could move their BTC, ETH, and USDT off the exchange. This latest step opens withdrawals and deposits to all coins and tokens, though certain tokens may have withdrawal limits due to what the exchange called “ongoing judicial proceedings.” The re-opening is a promising step towards normalcy after a crippling hack on Sept. 26. …

KuCoin cryptocurrency exchange has recovered the majority of funds lost in a $280 million hacking incident in September, a senior executive has said. Johnny Lyu, co-founder and CEO of KuCoin, announced on Nov. 11 that the exchange has now recovered 84% of stolen assets. Lyu said that the recovery process involved “on-chain tracking, contract upgrade and judicial recovery.” He also noted that the exchange will publish more details on reimbursement once the case is closed. According to Lyu, KuCoin has resumed full services for 176 tokens trading on its platform. He said that services for the remaining coins are scheduled …

The recent KuCoin exchange hack and ongoing OKEx incident, during which withdrawals have been frozen, have raised questions as to how blockchain projects with coins traded on exchanges should act when said exchanges are hacked or funds are stuck. When it comes to projects such as Tron, which replaced tokens that were held by OKEx, such actions are to be expected because their work is based on a central governance model. However, are projects able to pause smart contracts or freeze tokens if they are truly decentralized? Was all this legal? Choosing a strategy to save users’ funds in a …

The KuCoin cryptocurrency exchange is partly restoring deposits and withdrawals following a major hack. As KuCoin officially announced on Oct. 7, the platform has completed the wallet security upgrade for major cryptos like Bitcoin (BTC), Ether (ETH), and Tether (USDT). Following the upgrade, KuCoin has resumed the deposit and withdrawal service of BTC, ETH, and ERC-20-based USDT. According to the announcement, USDT running on other blockchains like EOS, Tron, and Omni is not yet available for withdrawals. KuCoin stated: “KuCoin is gradually restoring the deposit and withdrawal services of all tokens, and the full service of USDT will also resume …

As the fallout from the hack on its platform continues, KuCoin said it has identified suspects and have now officially involved law enforcement in the investigation. KuCoin CEO Johnny Lyu tweeted on Oct. 3 that the exchange now has substantial proof that identifies who hacked the service on Sept. 26. A quick update since my last livestream on Sep 30. After a thorough investigation, we have found the suspects of the 9.26 #KuCoin Security Incident with substantial proof at hand. Law enforcement officials and police are officially involved to take action. — lyu_johnny (@lyu_johnny) October 3, 2020 Lyu added that …

Bitcoin (BTC) price appears on the verge of closing another week pinned below the $11,000 resistance but given the major events of the week, things could have been so much worse. Cryptocurrency daily market performance snapshot. Source: Coin360 The top-ranked cryptocurrency by market cap held its ground as KuCoin revealed more than $150 million worth of assets had been stolen from the exchange, and the price only stumbled slightly as the CTFC announced that legal action was being taken against BitMEX exchange. The price again avoided collapse when DOW and S&P 500 futures took a hefty drop upon the announcement …