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Upbit Loses Over $50m in Ether Following Platform Hack

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It has been once again a very remarkable day in the cryptocurrency industry. South Korean exchange Upbit has seemingly misplaced a lot of funds due to a hacker. The news originally started out as a rumor, but was eventually confirmed by the company. Upbit Gets Hacked and Loses Ether In the announcement, Upbit mentions 342,000 … Read more

Upbit Confirms its Partnership With Bittrex Will end Next Month

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Partnerships are crucial to the survival of every service provider in the cryptocurrency space. New alliances are forged every so often in an effort to strengthen individual positions accordingly. However, not every partnership is meant to last, as this industry undergoes changes virtually every other week. The relationship between Bittrex and Upbit has now officially … Read more

In the Daily: Token Delistings, Paybear Is Savvy, Revolut and Hackers

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In this edition of The Daily, crypto exchange Upbit is preparing to delist four tokens, while several projects have accused Kucoin of suggesting market making services to pump their volume and avoid delisting. Also, crypto payment processor Paybear has rebranded to Savvy, and British online bank Revolut is hiring hackers to test its systems. Also … Read more

Executives of Korean Exchange Sentenced to Jail for Faking Volumes

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Two executives of a South Korean cryptocurrency exchange have reportedly been sentenced to jail for inflating trading volumes on their exchange. The pair allegedly used a bot to fake large orders in both cryptocurrencies and Korean won. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Prison Sentences Two executives of South … Read more

Officials at Top Korean Cryptocurrency Exchange Upbit Indicted for Fraud

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Officials at South Korea’s largest cryptocurrency exchange, Upbit, have been indicted for fraud. They allegedly made bogus crypto orders worth approximately $226 billion and sold 11,550 BTC to around 26,000 investors. Upbit has denied the charges and insisted that it did not commit fraud, engage in wash trades, or trade cryptocurrencies it did not own. … Read more