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Nalezeno "customer funds": 95

NYAG shuts down Coinseed for converting customer funds into DOGE without consent

14.9.2021
New York Attorney General Letitia James ends operations for Coinseed following complaints that client funds had been converted to DOGE without their knowledge

Turkish Crypto Exchange Exit Scam: CEO Flees Country, 62 People Detained, Users Cannot Access $2 Billion of Funds

24.4.2021
A Turkish cryptocurrency exchange with about 400,000 users has been accused of pulling an exit scam. Its CEO has reportedly fled Turkey, allegedly taking $2 billion of customer funds with him. The police have an arrest warrant for the CEO and 62 people have already been detained in connection with...

DMEX Integrates xDAI for Cheap Decentralized Perpetual Contracts With up to 100x Leverage and No KYC

22.1.2021
PRESS RELEASE. In response to rising gas prices during the last weeks, DMEX has moved its trade processing to xDAI sidechain that allows for much cheaper transaction recording. Customer funds are still stored on an Ethereum smart contract, the trade recording, however, is now performed on xDAI....

Tether’s Bank Says It Invests Customer Funds in Bitcoin

14.1.2021
Deltec, Tether’s Bahamas-based bank, announced Thursday it was investing customer funds in bitcoin. The announcement, made by Deltec Bank & Trust Chief Investment Officer Hugo Rogers during a year-in-review video, raises new questions about whether the dollar-pegged USDT stablecoin, which...

US crypto derivatives merchants need to leave customer funds alone, says CFTC

21.10.2020
The CFTC has issued new guidance for crypto derivatives markets that hold customer funds, much of which boils down to "be very, very careful."

Canadian Exchange Shakepay Gets Cold Wallet Insurance to Protect Customer Funds

26.8.2020
Canadian crypto exchange Shakepay has secured cold wallet insurance through Aon with Lloyd's of London underwriters

Wirecard $2 Billion Scandal: Firm Files for Insolvency, Ex-CEO Arrested, User Funds Safe

25.6.2020
Scandal-hit crypto card issuer Wirecard AG, a firm that has filed for insolvency because of its missing $2.1 billion – but customer funds appear to be safe, for now. The news comes just two days after former chief executive officer Markus Braun was arrested by German police on allegations...

In Possible Exit Scam, Chinese EOS Wallet Locks Up $52M of Customer Funds

21.4.2020
EOS Ecosystem, a wallet app returns out to be a scam and possibly runs away with $52M user funds

Huobi Withdraws Steem Votes, Admits to Mobilizing Customer Funds

4.3.2020
Four of Steem’s former witnesses have been reinstated after Binance and Huobi removed support for the apparent coup

From Single Key to Sophisticated Computation: The Evolution of Crypto Exchange Custody

28.2.2020
When the first cryptocurrency exchanges sprung up in late 2010, multisig wallets had yet to be invented. As a result, a single private key was commonly used to control all customer funds. Today, multisig has been complemented by sophisticated solutions such as Unbound Tech’s CASP, which uses...

Currency.com Accused of Exploiting KYC to Withhold Customer Funds

18.2.2020
Know Your Customer (KYC) and Know Your Transaction (KYT) are ostensibly deployed by exchanges to combat money laundering. In practice, these provisions are used as an excuse to surveil, cajole, and threaten customers, who risk losing funds if they are unable to meet the impossibly high burden...

COSS Exchange Locks Customer Funds During 3-4 Week ‘Maintenance’

8.1.2020
The Singapore-based COSS cryptocurrency exchange has announced that it will deny its 200,000 customers from accessing to around USD 2 million worth of funds for the following three to four weeks while its site undergoes maintenance. On Tuesday, COSS told users there was no call for “panic,”...