Huobi exchange announces shutdown of Cloud wallet service
Huobi cryptocurrency exchange has announced the closure of its Huobi Cloud Wallet service, the platform will be discontinued in May 2023. The multi-token wallet service’s maintenance and updates will formally end on February 13 according to a statement on Huobi’s support website. Cryptocurrency and nonfungible tokens (NFTs) users who are still utilizing the Huobi Cloud […]
NYDFS orders Paxos to stop issuing Binance USD
New York Department of Financial Services (NYDFS) has ordered Paxos to stop issuing Binance USD stablecoin (BUSD), one of the world’s largest stablecoin by market cap. The United States Securities and Exchange Commission (SEC), which notifies firms of impending enforcement action, sent Paxos a wells warning not long before the New York regulator took its […]
UAE central bank to launch CBDC for Transactions
As the first phase of its financial infrastructure transformation (FIT) program, the Central Bank of the United Arab Emirates (CBUAE) intends to introduce a central bank digital currency (CBDC) for both local and international usage. The CBUAE recently announced the FIT initiative and emphasized its goal of assisting the nation’s financial services industry. The scheme, […]
CEO of EminiFX admits involvement in $248M scam
The CEO of the alleged cryptocurrency trading platform EminiFX could spend up to 10 years in prison for his involvement in the scam. In a New York district court, Eddy Alexandre, the CEO of alleged cryptocurrency trading platform EminiFX, pled guilty to commodities fraud and agreed to repay millions of dollars to clients who lost […]
Wormhole hacker transfers additional $46M in stolen funds
A new $46 million in stolen funds has just been transferred out of the Wormhole hacker’s wallet, according to on-chain statistics, which indicates that the stolen cryptocurrency from one of the biggest industry exploits is in motion once more. Wormhole’s token bridge was exploited in February 2022, leading to the third-largest cryptocurrency breach of the […]