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Cryptocurrency Exchange OKEx Suspends All Digital Assets Withdrawals

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OKEx CEO Jay Hao assured OKEx customers that their funds are safe and the investigations are being carried out.

Malta-based cryptocurrency exchange OKEx has announced that all digital assets withdrawals are suspended indefinitely after one of its private key holders went missing. The unfortunate incident leaves OKEx customers in the hand of the private key holder, although their funds are reportedly safe.

“One of our private key holders is currently cooperating with a public security bureau in investigations where required.  We have been out of touch with the concerned private key holder,” OKEx indicated in a note to its customers.

The company has clarified that other services in the exchange remain unaffected and traders can continue without fear. However, things cannot continue normally until the case is resolved.

OKEx Withdrawals Suspension

Disagreements at the top management should not affect customers’ business if it was not included in the Terms of Service. The unfortunate incident has triggered fear among cryptocurrency investors as Bitcoin and other digital assets had dropped considerably during Asian and London trading sessions on Friday.

As for Bitcoin, it was trading around $11,264.42 having dropped more than 2% in the past 24 hours.

The sell-off has occurred in leading altcoins including Ethereum that was trading around $364, 3.46% down, XRP around $0.23974 having dropped approximately 2.59%. OKEx crypto exchange has defended its action, citing it was all included in the terms and conditions to interrupt, suspend or terminate services without prior notice.

“Pursuant to 8.1 Service Change and Interruption of the Terms of Service, OKEx may change the Service and/or may also interrupt, suspend or terminate the service at any time with or without prior notice,” OKEx explained

This is malice of the highest degree putting in mind there were innocent traders who might need their capital urgently.

Notably, media outlet Coindesk has reported that hours before the announcement, significant withdrawals were completed from known OKEx-affiliated addresses. OKEx CEO Jay Hao, through his official Twitter page, assured OKEx customers that their funds are safe and the investigations are ongoing.

Such incidents drag behind the crypto industry that has tremendously grown over the past decade.

OKEx has been focused on Asian markets that have largely adopted digital assets and blockchain technology to improve the payment system. It is suspected that the raid on OKEx has been initiated by Chinese authorities who are cracking down on fraudulent activities on crypto exchanges. Although it is a single out case, it is high time other crypto exchanges seek to decentralize their services to avoid similar cases in the future.

Decentralized exchanges alias DEXs ensure no single person is in control of customers’ funds. Therefore giving customers personalized responsibilities to take care of their funds by safely storing their security private keys.

Such downtimes can be avoided if all crypto exchanges upgraded their systems to complete decentralized systems.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”





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Ultimate Online Trading Solution for Anyone

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Tradelax offers a wide array of tools. Customers can access more than 200 financial instruments and trade stocks, commodities, currencies, and indices.

Within the last 30 years, the financial industry has become the fundament of global economics. Trading futures and stocks assist organizations in creating additional sources of revenue for innovation and expansion. The development of the Internet allows anyone who has a computer to engage in trading without any limitations. However, it’s worth remembering that online trading is inevitably interconnected with certain risks, including scams, private data exposure, and fraud. How to avoid all of them? Well, first of all, you’d need to choose a reliable trading platform. Fortunately, we can suggest one – Tradelax. This article will provide a detailed Tradelax review.

Why Choose Tradelax?

Tradelax is the ultimate solution for anyone willing to engage in online trading. There’s no need to possess any experience in the financial industry to join. Tradelax offers guidance and training to all customers, and they can receive an overview of the platform fast and conveniently. There’s a whole team of employees dedicated to training newcomers; so, you’ll surely find assistance when needed.

As the leading trading platform, Tradelax offers a wide array of tools. Customers can access more than 200 financial instruments and trade stocks, commodities, currencies, and indices. All prices are updated based on live feeds from global stock exchanges. So, Tradelax’s clients are provided with the most accurate information. The platform offers a comprehensive solution for managing your portfolio, purchasing or selling assets, and receiving professional training.

It would be impossible to receive profits from trading without a proper market overview. Tradelax knows about this necessity, so, it has designed a convenient Stock Screener tool. It was created to assist both newcomers and experienced traders in reaching their goals. Stock Screener allows you to filter out stocks and companies in the most convenient way and obtain the needed data about any particular organization. There’s also a possibility to arrange companies by market capitalization, growth rates, or receive the highest/lowest market values of stock for a given period.

Technology and Security

When it comes to online trading, security is the ultimate consideration. Since you’ll be providing the platform with a set of personal information, it must do everything it can to protect the customers’ data. Tradelax recognizes the importance of proper security measures. So, it has implemented a comprehensive set of policies. You can actually see a proof of the site’s reliability right in your browser. In the URL typebar, there is a lock symbol, which suggests that the connection is protected by 128-bit SSL encryption. Through clicking on the lock, you can obtain the details of a digital security certificate issued to Tradelax. This information provides a clear answer to “Is Tradelax a scam?” once and for all.

Types of Accounts Offered by Tradelax

All Tradelax reviews mention a wide range of account types that were designed to suit every customer’s needs:

  • Starter. This account would perfectly suit the needs of newcomers. It doesn’t involve any deposit fees or up-front commissions, allowing you to explore the market without limitations. You’ll also be provided with a personal account manager and a bonus policy.
  • Advanced. This type is for more experienced traders who have already attained some knowledge of the market. The advanced account includes all features of the Starter pack while adding access to education tools, regular market update emails, and a 25% discount on swaps.
  • Expert. Expert account owners are provided with assistance from a senior account manager and receive live updates on the most important news. This account also allows hedging and including a fixed spread option, alongside advanced training from an experienced consultant.

What Else You Should Remember about Tradelax

You can leave all your worries aside. Tradelax.com is not a scam. The company is a trustworthy online trading platform, and it possesses all the necessary certificates.

And you can join the platform absolutely for free. There are no deposit fees charged for setting up an account.

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Global Family Office Summit Takes Place Virtually With Key Highlights Including Education, Trust, and Responsibility

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The Global Family Office Summit that took place via Zoom platform on October 20 brought together key players to discuss issues that high value investors are willing to address.

Its primary outlined mission is to connect different disruptive tech leaders from all over the world, hence solve the world’s challenges using technology especially blockchain, cryptocurrency and artificial intelligence. Being the first time the event was held, and specifically virtually due to the ongoing coronavirus pandemic, GDA group is looking forward to many more successful events and fruitful opportunities.

The GDA group, dubbed a financial institution that is largely focused on disruptive technologies, came up with the noble idea of bringing together not only influential tech leaders but also high net worth individuals interested in the tech space.

Notably, the GDA group is the company behind GDA Capital and also Secure Digital Markets. Whereby the latter is a capital markets firm that is focused on merchant banking especially for digital assets. In addition, Secure Digital Markets is also a trading platform that has processed over $2 billion in OTC digital assets. Hereby making it a vital corporation in the crypto industry with its investments backed by institutions and wealthy individuals.

Details of The Global Family Office Summit

During the virtual event, various speakers got a chance to highlight their minds. In general, the summit identified that the industry has to invest more in education, trust between customers and services providers and responsible firms.

“The Global Family Office Summit has identified three pillars – education, trust and responsibility to give back,” said Michael Gord, one of the event organizers from GDA capitals.

According to Candace Johnson, a serial entrepreneur and key speaker during the event, she thinks the blockchain technology should be used to build a better world instead of seeing it as a disruptive technology. She noted:

“Data-driven algorithmic technologies are responsible for today’s digital transformation in almost all fields, from hard sciences, to social sciences, to the humanities, as well as in a variety of sectors, from health and commerce, to education, law and the arts.”

Another key speaker who participated in the event was AI Burgio, founder of DigitalBits. According to Burgio, investors should identify an opportunity to address a large-scale problem. Nicholas Verwilghen, one of the speakers noted that secure custody of assets and alternative niche projects is what will drive institutional investors crypto adoption. Other key points were discussed during the event that are expected to drive the creation of the next tech unicorn with the latest technology especially in blockchain and AI.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”



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Stablecoins went wild in the days before Bitcoin’s recent surge

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In the days preceding Bitcoin’s latest rise in price, stablecoins went wild, exhibiting some largely unprecedented behavior.

Stablecoins: all stablecoins inflow transaction and address count of all exchanges. Source: CryptoQuant.

On October 18, stablecoins moving to exchanges reached record highs of 60,000 and 56,000 respectively, according to data from CryptoQuant. The outlet’s data tracked USDT on Ethereum, PAX, USDC, TUSD, DAI, SAI, BUSD, HUSD and USDK. When it comes to the total inflow of all stablecoins in terms of the dollar value, no extraordinary trends were detected.

Stablecoins inflows to exchanges. Source: CryptoQuant.

CryptoQuant CEO Ki Young Ju told Cointelegraph that, although the inflows were not huge in terms of dollar value, they signified a bullish trend among retail investors:

“Depositing from more retail investors usually means the market sentiment is turning into bullish.”

Ju believes that the market’s high address and transaction count indicates that inflows were coming from a large number of retail investors rather than from a few large players. The assumption is that investors send stablecoins to exchanges when they plan to convert them to other crypto assets — primarily Bitcoin. Yesterday, Tether minted 450 million USDT on the Tron (TRX) network. The company’s CTO Paolo Ardoino clarified earlier that the amount was authorized, but not issued:

“PSA: 300M USDt inventory replenish on Tron Network. Note this is a authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests.”

Tether market capitalization 2020. Source: CoinMarketCap.

Tether’s market capitalization quadrupled in 2020, beginning the year with $4 billion and rising to $16 billion at time of publication. Meanwhile, Bitcoin balances on major exchanges fell below 2.5 BTC for the first time in years.





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