In November, we announced the launch of a special global project, the Transparency Hackers Initiative, that is dedicated to detecting exchanges’ hot and cold wallets and validating exchanges’ total balances. The goal is to determine if crypto exchanges do indeed possess the amount of money they should, according to public statements. We launched this project
We frequently notice some exchanges coming from nowhere and reaching the top of the CMC rating almost immediately after their appearance. A striking illustration of such a situation is the Bitinka ‘success’ case (see Fig. 1)By reporting huge daily trading volumes, these exchanges easily and rapidly become first in line ahead of well-known crypto exchange
“The Exchange Suffered A Security Breach” is a statement that makes the heart beat faster. There has never been a day when this phrase brought positive connotations because it always means hacks, data leakage, and the considerable loss of money. On January 15, 2018, such a phrase was published on Cryptopia, a New Zealand crypto
The previous month has been remarkably successful and extremely important for the CER team and the CER project as a whole. We are pleased to inform you of what has been achieved in terms of the platform and business development, as well as our recent investigations on exchanges. We have conducted several interesting investigations that
It isn’t surprising that today, apart from the widely applied trade volume manipulations and an absence of transparency in crypto exchange operations, the cybersecurity is also the issue of the paramount importance (Learn more here). In March 2014, Poloniex lost $64,000; in August 2016, $77 million was stolen from Bitfinex; in half a year, Bithumb
What is the worst issue in the crypto industry? Is it trade volume manipulations, security issues, exit scams, or maybe fake community cases? These and a number of other problems shatter the confidence of young crypto investors as well as that of capital owners in the traditional financial world. As a result, these practices negatively
Table of Contents The merger of crypto and crypto hacks: A Short History Crypto exchange hacks Statistics Advantages of BB Can a researcher blackmail me? Afterword The merger of crypto and crypto hacks: A Short History 2009 — the bitcoin network was born when Satoshi Nakamoto mined the first block of the chain, known as
You should have already heard at least something about our Transparency Hackers initiative, haven’t you? If the answer is still “no”, please feel free to get more information about it in this Blog Post and hurry up in joining us! We have done a lot of work during the past month to bring the transparency
General Information LBank is a Hong-Kong based crypto exchange focused mainly on the Chinese market. The exchange is ranked 12th by Coin Market Cap with $237.5 mln 24h trade volume (as of October 22). The Platform Launch Date Controversy The exchange’s English website version and description of the company state that it was launched in
