Tag: Crypto

Coinbase restores services after global outage
Tech

Coinbase restores services after global outage

Coinbase Global announced on Wednesday that all services on its website have been fully restored following an earlier issue that led some users to witness a zero balance on their accounts. In a social media post on X, the crypto exchange stated, “Very few customers may still see an inaccurate balance on their account. Our […]

Crypto exchange Gemini to return $1.1bn to customers
Tech

Crypto exchange Gemini to return $1.1bn to customers

The cryptocurrency exchange, Gemini is set to reimburse a minimum of $1.1 billion to customers impacted by its defunct lending program and pay a $37 million fine due to unsafe and unsound practices, as outlined in a settlement with the New York Department of Financial Services, disclosed on Wednesday. The terminated Gemini Earn program, which […]

Bitcoin holder Micro Strategy loses $440K to hackers
Crypto

Bitcoin holder Micro Strategy loses $440K to hackers

By Alex Omenye MicroStrategy Inc., recognized as the largest publicly traded corporate holder of Bitcoin, experienced a security breach, resulting in a loss of $440,000 for unsuspecting users. The incident, currently under scrutiny by crypto security analysts, unfolded when an adept attacker strategically posted and subsequently deleted content on MicroStrategy’s X page. The deceptive post […]

Binance working with Nigeria govt to resolve exec's detention, CEO says
Crypto

Binance, Coinbase suffer restriction in Nigeria

Some cryptocurrency exchanges in Nigeria encountered accessibility challenges, leading to speculation about potential restrictions on crypto sites, as reported by the Financial Times. Local media previously suggested that Nigeria’s apex bank instructed the Nigerian Communications Commission, the telecom regulator, to suspend access to crypto websites, including Binance, Coinbase, and Kraken. This development came shortly after […]

Crypto betting platform Polymarket hits $1bn in trading volume
Crypto

CBN allegedly plans to shutdown crypto websites in Nigeria

The Nigerian government is reportedly taking steps to shut down cryptocurrency websites within the country, potentially aiming to block Nigerians from accessing such platforms to counteract the depreciation of the naira. According to Techpoint Africa, telecommunications companies might receive instructions to prevent people from visiting these cryptocurrency sites. This development follows the suspension of peer-to-peer […]

FG moves to restrict Binance, other crypto platforms
News

FG moves to restrict Binance, other crypto platforms

Nigerian government is contemplating the restriction of access to Binance and similar cryptocurrency platforms over the decline of the Naira. This consideration stems from concerns over alleged manipulation of the foreign exchange market and unauthorized financial flows, which are believed to be contributing to the naira’s significant devaluation, reaching a record low of N1,800 against […]

Crypto

A&D Forensics trains specialist on cryptocurrency crimes

By Melvin Onwubuke Digital blockchain and forensic company, A&D Forensics, trained a new set of Crytocurrency Currency Compliance Specialist (3CS) to track suspicious financial transactions. According to BusinessDay, the Co-founder and Senior Partners at A & D Forensics in Abuja, explaining the significance of the ongoing training initiative said “effective compliance is crucial to prevent […]

Crypto firm Polygon Labs lays off staff
Crypto

Crypto firm Polygon Labs lays off staff

Polygon Labs, a cryptocurrency firm specializing in enhancing accessibility to the digital coin Ethereum, has announced plans to reduce its global workforce by 60 employees, constituting approximately 19% of its total staff. This marks the second round of layoffs for Polygon Labs, which previously released 100 employees in February last year amid a widespread downturn […]

Terraform Labs files for bankruptcy
Crypto

Terraform Labs files for bankruptcy

Crypto company, Terraform Labs, the company that caused the collapse of two stablecoins, Luna and TerraUSD, to wipe approximately $40 billion from the cryptocurrency market filed for Chapter 11 bankruptcy protection on Sunday. According to Bloomberg, the cryptocurrency company’s estimated liabilities and assets fall between $100 million and $500 million, and its estimated creditor count […]

Binance working with Nigeria govt to resolve exec's detention, CEO says
Crypto

Binance opens crypto trading in Thailand

Alex Omenye Binance said on Tuesday that it has made its bitcoin exchange available for trade in Thailand. According to a release, Gulf Binance is a joint venture between Binance and Gulf Innova of Thailand. It will function as an exchange and brokerage platform that lets customers buy and sell digital assets using local currency […]

Business email hack rises by 1,760% in 2023 – Report
News Tech

Hackers stole $2 billion in crypto in 2023 – Report

A 2023 report has revealed that cybercriminals successfully stole around $2 billion in cryptocurrencies through various cyberattacks. According to the report by De.FI, the security firm overseeing the REKT database, this year underscores the existing vulnerabilities in the cryptocurrency space and the ongoing efforts being undertaken to mitigate these risks. “This amount, though dispersed across […]

Crypto company Yellow Card to apply for license in Nigeria
Crypto News

Crypto company Yellow Card to apply for license in Nigeria

A Pan-African exchange, Yellow Card Financial Inc., is poised to swiftly apply for a license in Nigeria following the recent lifting of the cryptocurrency ban imposed by the country’s central bank in 2021. Ogochukwu Umeokafor, the Director of Product Management at Yellow Card, expressed eagerness to seize this opportunity, stating, “Wou’ve waited for something and […]

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