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\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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By subscribing, you agree with our privacy and terms.

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\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

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By subscribing, you agree with our privacy and terms.

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\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

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By subscribing, you agree with our privacy and terms.

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\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Is users' funds safe?<\/h2>\n\n\n\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

Is users' funds safe?<\/h2>\n\n\n\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Binance said on Wednesday that with the sale, it would exit the country altogether. It also says that \"Binance will sunset all exchange services and business lines in Russia\"<\/em> over the next several months.<\/p>\n\n\n\n

\"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

Is users' funds safe?<\/h2>\n\n\n\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Binance's Chief Compliance Officer, Noah Perlman, stated that operating in Russia doesn't align with their compliance strategy. \"As we look toward the future, we recognize that operating in Russia is incompatible with Binance's compliance strategy,\" <\/em>said Perlman.<\/p>\n\n\n\n

Binance said on Wednesday that with the sale, it would exit the country altogether. It also says that \"Binance will sunset all exchange services and business lines in Russia\"<\/em> over the next several months.<\/p>\n\n\n\n

\"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

Is users' funds safe?<\/h2>\n\n\n\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Crypto exchange Binance is selling <\/a>its entire Russian business to CommEX as part of its exit strategy. The move is due to compliance concerns.<\/p>\n\n\n\n

Binance's Chief Compliance Officer, Noah Perlman, stated that operating in Russia doesn't align with their compliance strategy. \"As we look toward the future, we recognize that operating in Russia is incompatible with Binance's compliance strategy,\" <\/em>said Perlman.<\/p>\n\n\n\n

Binance said on Wednesday that with the sale, it would exit the country altogether. It also says that \"Binance will sunset all exchange services and business lines in Russia\"<\/em> over the next several months.<\/p>\n\n\n\n

\"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

Is users' funds safe?<\/h2>\n\n\n\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Sam Bankman-Fried's legal is centered on allegations of fraud involving more than $8 billion from FTX customers before the company filed for bankruptcy protection. The case has been described as a \"complete failure of corporate control\" by the new FTX CEO, John Ray, who is overseeing the bankruptcy proceedings.<\/p>\n","post_title":"FTX Customers And Investors To Testify In Trial against Sam Bankman-Fried: DOJ","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-customers-and-investors-to-testify-in-trial-against-sam-bankman-fried-doj","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:36","post_modified_gmt":"2023-10-01 11:39:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13663","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13655,"post_author":"15","post_date":"2023-10-01 22:39:20","post_date_gmt":"2023-10-01 11:39:20","post_content":"\n

Crypto exchange Binance is selling <\/a>its entire Russian business to CommEX as part of its exit strategy. The move is due to compliance concerns.<\/p>\n\n\n\n

Binance's Chief Compliance Officer, Noah Perlman, stated that operating in Russia doesn't align with their compliance strategy. \"As we look toward the future, we recognize that operating in Russia is incompatible with Binance's compliance strategy,\" <\/em>said Perlman.<\/p>\n\n\n\n

Binance said on Wednesday that with the sale, it would exit the country altogether. It also says that \"Binance will sunset all exchange services and business lines in Russia\"<\/em> over the next several months.<\/p>\n\n\n\n

\"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

Is users' funds safe?<\/h2>\n\n\n\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The DOJ identified three cooperating witnesses, all of whom have pleaded guilty<\/a> to charges linked to the exchange. These witnesses include former FTX Chief Technology Officer Gary Wang, former FTX Head of Engineering Nishad Singh, and former Alameda Research CEO Caroline Ellison. They will provide accounts of their involvement with FTX and testify against Bankman-Fried. Another former FTX executive, Ryan Salame, has pleaded guilty to charges but has not yet agreed to testify publicly.<\/p>\n\n\n\n

Sam Bankman-Fried's legal is centered on allegations of fraud involving more than $8 billion from FTX customers before the company filed for bankruptcy protection. The case has been described as a \"complete failure of corporate control\" by the new FTX CEO, John Ray, who is overseeing the bankruptcy proceedings.<\/p>\n","post_title":"FTX Customers And Investors To Testify In Trial against Sam Bankman-Fried: DOJ","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-customers-and-investors-to-testify-in-trial-against-sam-bankman-fried-doj","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:36","post_modified_gmt":"2023-10-01 11:39:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13663","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13655,"post_author":"15","post_date":"2023-10-01 22:39:20","post_date_gmt":"2023-10-01 11:39:20","post_content":"\n

Crypto exchange Binance is selling <\/a>its entire Russian business to CommEX as part of its exit strategy. The move is due to compliance concerns.<\/p>\n\n\n\n

Binance's Chief Compliance Officer, Noah Perlman, stated that operating in Russia doesn't align with their compliance strategy. \"As we look toward the future, we recognize that operating in Russia is incompatible with Binance's compliance strategy,\" <\/em>said Perlman.<\/p>\n\n\n\n

Binance said on Wednesday that with the sale, it would exit the country altogether. It also says that \"Binance will sunset all exchange services and business lines in Russia\"<\/em> over the next several months.<\/p>\n\n\n\n

\"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

Is users' funds safe?<\/h2>\n\n\n\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Cooperating Witnesses<\/h2>\n\n\n\n

The DOJ identified three cooperating witnesses, all of whom have pleaded guilty<\/a> to charges linked to the exchange. These witnesses include former FTX Chief Technology Officer Gary Wang, former FTX Head of Engineering Nishad Singh, and former Alameda Research CEO Caroline Ellison. They will provide accounts of their involvement with FTX and testify against Bankman-Fried. Another former FTX executive, Ryan Salame, has pleaded guilty to charges but has not yet agreed to testify publicly.<\/p>\n\n\n\n

Sam Bankman-Fried's legal is centered on allegations of fraud involving more than $8 billion from FTX customers before the company filed for bankruptcy protection. The case has been described as a \"complete failure of corporate control\" by the new FTX CEO, John Ray, who is overseeing the bankruptcy proceedings.<\/p>\n","post_title":"FTX Customers And Investors To Testify In Trial against Sam Bankman-Fried: DOJ","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-customers-and-investors-to-testify-in-trial-against-sam-bankman-fried-doj","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:36","post_modified_gmt":"2023-10-01 11:39:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13663","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13655,"post_author":"15","post_date":"2023-10-01 22:39:20","post_date_gmt":"2023-10-01 11:39:20","post_content":"\n

Crypto exchange Binance is selling <\/a>its entire Russian business to CommEX as part of its exit strategy. The move is due to compliance concerns.<\/p>\n\n\n\n

Binance's Chief Compliance Officer, Noah Perlman, stated that operating in Russia doesn't align with their compliance strategy. \"As we look toward the future, we recognize that operating in Russia is incompatible with Binance's compliance strategy,\" <\/em>said Perlman.<\/p>\n\n\n\n

Binance said on Wednesday that with the sale, it would exit the country altogether. It also says that \"Binance will sunset all exchange services and business lines in Russia\"<\/em> over the next several months.<\/p>\n\n\n\n

\"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

Is users' funds safe?<\/h2>\n\n\n\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

However, the letters did not disclose the identities of these potential witnesses or specify their numbers. It was mentioned, though, that each customer witness is likely to testify for less than 30 minutes and may not require extensive exhibits.<\/p>\n\n\n\n

Cooperating Witnesses<\/h2>\n\n\n\n

The DOJ identified three cooperating witnesses, all of whom have pleaded guilty<\/a> to charges linked to the exchange. These witnesses include former FTX Chief Technology Officer Gary Wang, former FTX Head of Engineering Nishad Singh, and former Alameda Research CEO Caroline Ellison. They will provide accounts of their involvement with FTX and testify against Bankman-Fried. Another former FTX executive, Ryan Salame, has pleaded guilty to charges but has not yet agreed to testify publicly.<\/p>\n\n\n\n

Sam Bankman-Fried's legal is centered on allegations of fraud involving more than $8 billion from FTX customers before the company filed for bankruptcy protection. The case has been described as a \"complete failure of corporate control\" by the new FTX CEO, John Ray, who is overseeing the bankruptcy proceedings.<\/p>\n","post_title":"FTX Customers And Investors To Testify In Trial against Sam Bankman-Fried: DOJ","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-customers-and-investors-to-testify-in-trial-against-sam-bankman-fried-doj","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:36","post_modified_gmt":"2023-10-01 11:39:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13663","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13655,"post_author":"15","post_date":"2023-10-01 22:39:20","post_date_gmt":"2023-10-01 11:39:20","post_content":"\n

Crypto exchange Binance is selling <\/a>its entire Russian business to CommEX as part of its exit strategy. The move is due to compliance concerns.<\/p>\n\n\n\n

Binance's Chief Compliance Officer, Noah Perlman, stated that operating in Russia doesn't align with their compliance strategy. \"As we look toward the future, we recognize that operating in Russia is incompatible with Binance's compliance strategy,\" <\/em>said Perlman.<\/p>\n\n\n\n

Binance said on Wednesday that with the sale, it would exit the country altogether. It also says that \"Binance will sunset all exchange services and business lines in Russia\"<\/em> over the next several months.<\/p>\n\n\n\n

\"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

Is users' funds safe?<\/h2>\n\n\n\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The DOJ's plan includes calling retail customers who transferred substantial assets, amounting to tens of thousands of dollars, to FTX. Additionally, institutional clients who entrusted FTX with tens of millions of dollars worth of assets will also provide their accounts. <\/p>\n\n\n\n

However, the letters did not disclose the identities of these potential witnesses or specify their numbers. It was mentioned, though, that each customer witness is likely to testify for less than 30 minutes and may not require extensive exhibits.<\/p>\n\n\n\n

Cooperating Witnesses<\/h2>\n\n\n\n

The DOJ identified three cooperating witnesses, all of whom have pleaded guilty<\/a> to charges linked to the exchange. These witnesses include former FTX Chief Technology Officer Gary Wang, former FTX Head of Engineering Nishad Singh, and former Alameda Research CEO Caroline Ellison. They will provide accounts of their involvement with FTX and testify against Bankman-Fried. Another former FTX executive, Ryan Salame, has pleaded guilty to charges but has not yet agreed to testify publicly.<\/p>\n\n\n\n

Sam Bankman-Fried's legal is centered on allegations of fraud involving more than $8 billion from FTX customers before the company filed for bankruptcy protection. The case has been described as a \"complete failure of corporate control\" by the new FTX CEO, John Ray, who is overseeing the bankruptcy proceedings.<\/p>\n","post_title":"FTX Customers And Investors To Testify In Trial against Sam Bankman-Fried: DOJ","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-customers-and-investors-to-testify-in-trial-against-sam-bankman-fried-doj","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:36","post_modified_gmt":"2023-10-01 11:39:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13663","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13655,"post_author":"15","post_date":"2023-10-01 22:39:20","post_date_gmt":"2023-10-01 11:39:20","post_content":"\n

Crypto exchange Binance is selling <\/a>its entire Russian business to CommEX as part of its exit strategy. The move is due to compliance concerns.<\/p>\n\n\n\n

Binance's Chief Compliance Officer, Noah Perlman, stated that operating in Russia doesn't align with their compliance strategy. \"As we look toward the future, we recognize that operating in Russia is incompatible with Binance's compliance strategy,\" <\/em>said Perlman.<\/p>\n\n\n\n

Binance said on Wednesday that with the sale, it would exit the country altogether. It also says that \"Binance will sunset all exchange services and business lines in Russia\"<\/em> over the next several months.<\/p>\n\n\n\n

\"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

Is users' funds safe?<\/h2>\n\n\n\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

In addition, cooperating witnesses, individuals with direct involvement in Bankman-Fried's activities, will testify about their interactions with him and their understanding of his statements and actions. Assistant U.S. Attorney Thane Rehn highlighted the relevance of these testimonies, stating that they directly relate to the contentious issues in the trial.<\/p>\n\n\n\n

The DOJ's plan includes calling retail customers who transferred substantial assets, amounting to tens of thousands of dollars, to FTX. Additionally, institutional clients who entrusted FTX with tens of millions of dollars worth of assets will also provide their accounts. <\/p>\n\n\n\n

However, the letters did not disclose the identities of these potential witnesses or specify their numbers. It was mentioned, though, that each customer witness is likely to testify for less than 30 minutes and may not require extensive exhibits.<\/p>\n\n\n\n

Cooperating Witnesses<\/h2>\n\n\n\n

The DOJ identified three cooperating witnesses, all of whom have pleaded guilty<\/a> to charges linked to the exchange. These witnesses include former FTX Chief Technology Officer Gary Wang, former FTX Head of Engineering Nishad Singh, and former Alameda Research CEO Caroline Ellison. They will provide accounts of their involvement with FTX and testify against Bankman-Fried. Another former FTX executive, Ryan Salame, has pleaded guilty to charges but has not yet agreed to testify publicly.<\/p>\n\n\n\n

Sam Bankman-Fried's legal is centered on allegations of fraud involving more than $8 billion from FTX customers before the company filed for bankruptcy protection. The case has been described as a \"complete failure of corporate control\" by the new FTX CEO, John Ray, who is overseeing the bankruptcy proceedings.<\/p>\n","post_title":"FTX Customers And Investors To Testify In Trial against Sam Bankman-Fried: DOJ","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-customers-and-investors-to-testify-in-trial-against-sam-bankman-fried-doj","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:36","post_modified_gmt":"2023-10-01 11:39:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13663","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13655,"post_author":"15","post_date":"2023-10-01 22:39:20","post_date_gmt":"2023-10-01 11:39:20","post_content":"\n

Crypto exchange Binance is selling <\/a>its entire Russian business to CommEX as part of its exit strategy. The move is due to compliance concerns.<\/p>\n\n\n\n

Binance's Chief Compliance Officer, Noah Perlman, stated that operating in Russia doesn't align with their compliance strategy. \"As we look toward the future, we recognize that operating in Russia is incompatible with Binance's compliance strategy,\" <\/em>said Perlman.<\/p>\n\n\n\n

Binance said on Wednesday that with the sale, it would exit the country altogether. It also says that \"Binance will sunset all exchange services and business lines in Russia\"<\/em> over the next several months.<\/p>\n\n\n\n

\"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

Is users' funds safe?<\/h2>\n\n\n\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Department of Justice (DOJ) has filed<\/a> two letters outlining its intent to summon various individuals to testify in the trial against Bankman-Fried. These witnesses include former FTX customers and investors who held shares at the exchange. Their testimony will provide valuable perspectives on how they expected FTX to handle their funds.<\/p>\n\n\n\n

In addition, cooperating witnesses, individuals with direct involvement in Bankman-Fried's activities, will testify about their interactions with him and their understanding of his statements and actions. Assistant U.S. Attorney Thane Rehn highlighted the relevance of these testimonies, stating that they directly relate to the contentious issues in the trial.<\/p>\n\n\n\n

The DOJ's plan includes calling retail customers who transferred substantial assets, amounting to tens of thousands of dollars, to FTX. Additionally, institutional clients who entrusted FTX with tens of millions of dollars worth of assets will also provide their accounts. <\/p>\n\n\n\n

However, the letters did not disclose the identities of these potential witnesses or specify their numbers. It was mentioned, though, that each customer witness is likely to testify for less than 30 minutes and may not require extensive exhibits.<\/p>\n\n\n\n

Cooperating Witnesses<\/h2>\n\n\n\n

The DOJ identified three cooperating witnesses, all of whom have pleaded guilty<\/a> to charges linked to the exchange. These witnesses include former FTX Chief Technology Officer Gary Wang, former FTX Head of Engineering Nishad Singh, and former Alameda Research CEO Caroline Ellison. They will provide accounts of their involvement with FTX and testify against Bankman-Fried. Another former FTX executive, Ryan Salame, has pleaded guilty to charges but has not yet agreed to testify publicly.<\/p>\n\n\n\n

Sam Bankman-Fried's legal is centered on allegations of fraud involving more than $8 billion from FTX customers before the company filed for bankruptcy protection. The case has been described as a \"complete failure of corporate control\" by the new FTX CEO, John Ray, who is overseeing the bankruptcy proceedings.<\/p>\n","post_title":"FTX Customers And Investors To Testify In Trial against Sam Bankman-Fried: DOJ","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-customers-and-investors-to-testify-in-trial-against-sam-bankman-fried-doj","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:36","post_modified_gmt":"2023-10-01 11:39:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13663","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13655,"post_author":"15","post_date":"2023-10-01 22:39:20","post_date_gmt":"2023-10-01 11:39:20","post_content":"\n

Crypto exchange Binance is selling <\/a>its entire Russian business to CommEX as part of its exit strategy. The move is due to compliance concerns.<\/p>\n\n\n\n

Binance's Chief Compliance Officer, Noah Perlman, stated that operating in Russia doesn't align with their compliance strategy. \"As we look toward the future, we recognize that operating in Russia is incompatible with Binance's compliance strategy,\" <\/em>said Perlman.<\/p>\n\n\n\n

Binance said on Wednesday that with the sale, it would exit the country altogether. It also says that \"Binance will sunset all exchange services and business lines in Russia\"<\/em> over the next several months.<\/p>\n\n\n\n

\"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

Is users' funds safe?<\/h2>\n\n\n\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

As the highly anticipated trial against former crypto executive Sam Bankman-Fried begins this week, federal prosecutors intend to have former FTX customers, investors, and employees testify in the case.<\/p>\n\n\n\n

The Department of Justice (DOJ) has filed<\/a> two letters outlining its intent to summon various individuals to testify in the trial against Bankman-Fried. These witnesses include former FTX customers and investors who held shares at the exchange. Their testimony will provide valuable perspectives on how they expected FTX to handle their funds.<\/p>\n\n\n\n

In addition, cooperating witnesses, individuals with direct involvement in Bankman-Fried's activities, will testify about their interactions with him and their understanding of his statements and actions. Assistant U.S. Attorney Thane Rehn highlighted the relevance of these testimonies, stating that they directly relate to the contentious issues in the trial.<\/p>\n\n\n\n

The DOJ's plan includes calling retail customers who transferred substantial assets, amounting to tens of thousands of dollars, to FTX. Additionally, institutional clients who entrusted FTX with tens of millions of dollars worth of assets will also provide their accounts. <\/p>\n\n\n\n

However, the letters did not disclose the identities of these potential witnesses or specify their numbers. It was mentioned, though, that each customer witness is likely to testify for less than 30 minutes and may not require extensive exhibits.<\/p>\n\n\n\n

Cooperating Witnesses<\/h2>\n\n\n\n

The DOJ identified three cooperating witnesses, all of whom have pleaded guilty<\/a> to charges linked to the exchange. These witnesses include former FTX Chief Technology Officer Gary Wang, former FTX Head of Engineering Nishad Singh, and former Alameda Research CEO Caroline Ellison. They will provide accounts of their involvement with FTX and testify against Bankman-Fried. Another former FTX executive, Ryan Salame, has pleaded guilty to charges but has not yet agreed to testify publicly.<\/p>\n\n\n\n

Sam Bankman-Fried's legal is centered on allegations of fraud involving more than $8 billion from FTX customers before the company filed for bankruptcy protection. The case has been described as a \"complete failure of corporate control\" by the new FTX CEO, John Ray, who is overseeing the bankruptcy proceedings.<\/p>\n","post_title":"FTX Customers And Investors To Testify In Trial against Sam Bankman-Fried: DOJ","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-customers-and-investors-to-testify-in-trial-against-sam-bankman-fried-doj","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:36","post_modified_gmt":"2023-10-01 11:39:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13663","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13655,"post_author":"15","post_date":"2023-10-01 22:39:20","post_date_gmt":"2023-10-01 11:39:20","post_content":"\n

Crypto exchange Binance is selling <\/a>its entire Russian business to CommEX as part of its exit strategy. The move is due to compliance concerns.<\/p>\n\n\n\n

Binance's Chief Compliance Officer, Noah Perlman, stated that operating in Russia doesn't align with their compliance strategy. \"As we look toward the future, we recognize that operating in Russia is incompatible with Binance's compliance strategy,\" <\/em>said Perlman.<\/p>\n\n\n\n

Binance said on Wednesday that with the sale, it would exit the country altogether. It also says that \"Binance will sunset all exchange services and business lines in Russia\"<\/em> over the next several months.<\/p>\n\n\n\n

\"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

Is users' funds safe?<\/h2>\n\n\n\n

The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

Recovery action<\/h2>\n\n\n\n

HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 28 29 30 31 32 … 85

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
  • Testimonies are crucial to understanding FTX's treatment of customer assets.<\/li>\n<\/ul>\n\n\n\n

    As the highly anticipated trial against former crypto executive Sam Bankman-Fried begins this week, federal prosecutors intend to have former FTX customers, investors, and employees testify in the case.<\/p>\n\n\n\n

    The Department of Justice (DOJ) has filed<\/a> two letters outlining its intent to summon various individuals to testify in the trial against Bankman-Fried. These witnesses include former FTX customers and investors who held shares at the exchange. Their testimony will provide valuable perspectives on how they expected FTX to handle their funds.<\/p>\n\n\n\n

    In addition, cooperating witnesses, individuals with direct involvement in Bankman-Fried's activities, will testify about their interactions with him and their understanding of his statements and actions. Assistant U.S. Attorney Thane Rehn highlighted the relevance of these testimonies, stating that they directly relate to the contentious issues in the trial.<\/p>\n\n\n\n

    The DOJ's plan includes calling retail customers who transferred substantial assets, amounting to tens of thousands of dollars, to FTX. Additionally, institutional clients who entrusted FTX with tens of millions of dollars worth of assets will also provide their accounts. <\/p>\n\n\n\n

    However, the letters did not disclose the identities of these potential witnesses or specify their numbers. It was mentioned, though, that each customer witness is likely to testify for less than 30 minutes and may not require extensive exhibits.<\/p>\n\n\n\n

    Cooperating Witnesses<\/h2>\n\n\n\n

    The DOJ identified three cooperating witnesses, all of whom have pleaded guilty<\/a> to charges linked to the exchange. These witnesses include former FTX Chief Technology Officer Gary Wang, former FTX Head of Engineering Nishad Singh, and former Alameda Research CEO Caroline Ellison. They will provide accounts of their involvement with FTX and testify against Bankman-Fried. Another former FTX executive, Ryan Salame, has pleaded guilty to charges but has not yet agreed to testify publicly.<\/p>\n\n\n\n

    Sam Bankman-Fried's legal is centered on allegations of fraud involving more than $8 billion from FTX customers before the company filed for bankruptcy protection. The case has been described as a \"complete failure of corporate control\" by the new FTX CEO, John Ray, who is overseeing the bankruptcy proceedings.<\/p>\n","post_title":"FTX Customers And Investors To Testify In Trial against Sam Bankman-Fried: DOJ","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-customers-and-investors-to-testify-in-trial-against-sam-bankman-fried-doj","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:36","post_modified_gmt":"2023-10-01 11:39:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13663","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13655,"post_author":"15","post_date":"2023-10-01 22:39:20","post_date_gmt":"2023-10-01 11:39:20","post_content":"\n

    Crypto exchange Binance is selling <\/a>its entire Russian business to CommEX as part of its exit strategy. The move is due to compliance concerns.<\/p>\n\n\n\n

    Binance's Chief Compliance Officer, Noah Perlman, stated that operating in Russia doesn't align with their compliance strategy. \"As we look toward the future, we recognize that operating in Russia is incompatible with Binance's compliance strategy,\" <\/em>said Perlman.<\/p>\n\n\n\n

    Binance said on Wednesday that with the sale, it would exit the country altogether. It also says that \"Binance will sunset all exchange services and business lines in Russia\"<\/em> over the next several months.<\/p>\n\n\n\n

    \"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

    Is users' funds safe?<\/h2>\n\n\n\n

    The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

    An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

    While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

    HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

    \nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

    Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

    Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

    As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

    Recovery action<\/h2>\n\n\n\n

    HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

    Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

    This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    1 … 28 29 30 31 32 … 85

    Most Read

    Subscribe To Our Newsletter

    By subscribing, you agree with our privacy and terms.

    Follow The Distributed

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    \n
  • Witnesses will share their expectations and interactions with the defendant.<\/li>\n\n\n\n
  • Testimonies are crucial to understanding FTX's treatment of customer assets.<\/li>\n<\/ul>\n\n\n\n

    As the highly anticipated trial against former crypto executive Sam Bankman-Fried begins this week, federal prosecutors intend to have former FTX customers, investors, and employees testify in the case.<\/p>\n\n\n\n

    The Department of Justice (DOJ) has filed<\/a> two letters outlining its intent to summon various individuals to testify in the trial against Bankman-Fried. These witnesses include former FTX customers and investors who held shares at the exchange. Their testimony will provide valuable perspectives on how they expected FTX to handle their funds.<\/p>\n\n\n\n

    In addition, cooperating witnesses, individuals with direct involvement in Bankman-Fried's activities, will testify about their interactions with him and their understanding of his statements and actions. Assistant U.S. Attorney Thane Rehn highlighted the relevance of these testimonies, stating that they directly relate to the contentious issues in the trial.<\/p>\n\n\n\n

    The DOJ's plan includes calling retail customers who transferred substantial assets, amounting to tens of thousands of dollars, to FTX. Additionally, institutional clients who entrusted FTX with tens of millions of dollars worth of assets will also provide their accounts. <\/p>\n\n\n\n

    However, the letters did not disclose the identities of these potential witnesses or specify their numbers. It was mentioned, though, that each customer witness is likely to testify for less than 30 minutes and may not require extensive exhibits.<\/p>\n\n\n\n

    Cooperating Witnesses<\/h2>\n\n\n\n

    The DOJ identified three cooperating witnesses, all of whom have pleaded guilty<\/a> to charges linked to the exchange. These witnesses include former FTX Chief Technology Officer Gary Wang, former FTX Head of Engineering Nishad Singh, and former Alameda Research CEO Caroline Ellison. They will provide accounts of their involvement with FTX and testify against Bankman-Fried. Another former FTX executive, Ryan Salame, has pleaded guilty to charges but has not yet agreed to testify publicly.<\/p>\n\n\n\n

    Sam Bankman-Fried's legal is centered on allegations of fraud involving more than $8 billion from FTX customers before the company filed for bankruptcy protection. The case has been described as a \"complete failure of corporate control\" by the new FTX CEO, John Ray, who is overseeing the bankruptcy proceedings.<\/p>\n","post_title":"FTX Customers And Investors To Testify In Trial against Sam Bankman-Fried: DOJ","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-customers-and-investors-to-testify-in-trial-against-sam-bankman-fried-doj","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:36","post_modified_gmt":"2023-10-01 11:39:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13663","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13655,"post_author":"15","post_date":"2023-10-01 22:39:20","post_date_gmt":"2023-10-01 11:39:20","post_content":"\n

    Crypto exchange Binance is selling <\/a>its entire Russian business to CommEX as part of its exit strategy. The move is due to compliance concerns.<\/p>\n\n\n\n

    Binance's Chief Compliance Officer, Noah Perlman, stated that operating in Russia doesn't align with their compliance strategy. \"As we look toward the future, we recognize that operating in Russia is incompatible with Binance's compliance strategy,\" <\/em>said Perlman.<\/p>\n\n\n\n

    Binance said on Wednesday that with the sale, it would exit the country altogether. It also says that \"Binance will sunset all exchange services and business lines in Russia\"<\/em> over the next several months.<\/p>\n\n\n\n

    \"Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,\" <\/em>the release said.<\/p>\n\n\n\n

    Is users' funds safe?<\/h2>\n\n\n\n

    The off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected. <\/p>\n\n\n\n

    An organized user migration process will take place. Binance and CommEX will collaborate to guide users on transferring their assets to CommEX. Some newly registered Russian KYC users will be directed to CommEX immediately. Binance will gradually discontinue all exchange services and business operations in Russia over the next few months. Efforts will be made to ensure a seamless user experience during this transition.<\/p>\n\n\n\n

    While the financial terms of the agreement won't be disclosed, it's crucial to highlight that this sale marks Binance's complete withdrawal from the Russian market. In contrast to similar deals involving international companies in Russia, Binance will not receive any ongoing revenue share from the sale, nor will it have the option to repurchase shares in the business.<\/p>\n","post_title":"Binance Is Exiting The Russian Market Due To Compliance Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-is-exiting-the-russian-market-due-to-compliance-concerns","to_ping":"","pinged":"","post_modified":"2023-10-01 22:39:32","post_modified_gmt":"2023-10-01 11:39:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13655","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13599,"post_author":"15","post_date":"2023-09-28 22:55:55","post_date_gmt":"2023-09-28 12:55:55","post_content":"\n

    HTX faced a security breach resulting in losing $7.9 million worth of Ethereum (ETH). The cryptocurrency exchange formerly known as Huobi was rebranded two weeks ago. Justin Sun, the Tron founder and an advisor to HTX, confirmed the attack on Twitter. He says <\/a>that \"HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues.\"<\/em><\/p>\n\n\n\n

    \nhttps:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\n<\/div><\/figure>\n\n\n\n

    Blockchain investigator PeckShield detected <\/a>suspicious activity before the hack, identifying a transaction of 4,999 ETH leaving the exchange. The hacker's addresses have been identified.<\/p>\n\n\n\n

    Justin Sun emphasized that the losses, while significant, represent a \"relatively small sum.\"<\/em> HTX has a total of $3 billion in assets held by users. The stolen crypto amounts to just two weeks' revenue for the HTX platform.<\/p>\n\n\n\n

    As of the latest data<\/a> from DefiLlama, HTX holds approximately $2.7 billion in assets, a figure that has remained relatively stable since November of the previous year. Around 29.4% of these assets are in Tron's native TRX token, while the second-largest holding is Bitcoin at 27.49%.<\/p>\n\n\n\n

    Recovery action<\/h2>\n\n\n\n

    HTX is actively working to recover the lost funds and has identified the hacker's \"true identity.\" They have threatened to involve law enforcement if the funds are not returned within one week. To incentivize the hacker's cooperation, HTX has offered a 5% white-hat reward, totaling $400,000, and the possibility of hiring the hacker as a security white-hat advisor.<\/p>\n\n\n\n

    Additionally, Binance CEO Changpeng Zhao has pledged assistance from Binance's security team in tracking the hacker's funds where possible.<\/p>\n\n\n\n

    This incident follows a similar trend in the crypto space. CoinEX proposed a bug bounty program after a hack that led to the loss of an estimated $54 million in assets linked to North Korea's Lazarus Group earlier this month.<\/p>\n","post_title":"HTX Falls Prey To Hackers With Almost $8M In Stolen Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"htx-falls-prey-to-hackers-with-almost-8m-in-stolen-crypto","to_ping":"","pinged":"","post_modified":"2023-09-28 22:57:17","post_modified_gmt":"2023-09-28 12:57:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13599","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    1 … 28 29 30 31 32 … 85

    Most Read

    Subscribe To Our Newsletter

    By subscribing, you agree with our privacy and terms.

    Follow The Distributed

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    \n