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How Somebody Transfers Billions In Crypto, Coinsquare Scandalous And OKEx Story Unwrapped

11/27/2020
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  • Bitstamp
  • XRP
  • Coinsquare
  • OKEx
News list

Anonymous Transfer of 40'000'000 Ripples to Bitstamp Exchange. Canada's Largest Crypto Exchange Has New Leaders. OKEx Renews Withdrawal after a Month of Idleness.

Anonymous Transfer of 40'000'000 Ripples to Bitstamp Exchange

An anonymous user transferred 40'000'000 XRP to Bitstamp from an account that had had no activity for 7 years. The same happened just several weeks ago, over a billion worth of Bitcoins was transferred from an anonymous wallet via a so-called Darknet.

It is believed that this time, the strange wallet is somehow connected to the genesis block of the Ripple blockchain. The genesis block is one of the very first blocks ever mined that starts a cryptocurrency. Due to that, we can assume that the rich anonymous has something to do with the XRP founders.

Such a huge emission of Ripples to the market led to a sharp growth of the cryptocurrency rate. Just in a week, XRP doubled in price and moved Bitcoin and Ethereum from its top places under the sun. Does Ripple have any more cards up the sleeve? Follow the crypto news and be the first to find out!

Anonymous Transfer of 40'000'000 Ripples to Bitstamp Exchange

Canada's Largest Crypto Exchange Has New Leaders

Coinsquare, Canada's largest crypto exchange, was forced to change its board after accusations of wash trading. The company's top three leaders have resigned: Virgile Rostand, the exchange founder; Cole Diamond, the CEO, and Felix Mazer, the Chief Compliance Officer.

The scandal started back in summer. Then the exchange was suspected of inflating its trading volumes. The regulator - the Ontario Securities Commission, - found out that for over a year and a half, from mid-2018 till late 2019, the same person acted as both the buyer and the seller, which was how the exchange leaders faked greater trading volumes.

The new leaders of the compromised exchange are people involved in crypto regulation, like Nicholas Tadani and Wendy Rudd.

Canada's Largest Crypto Exchange Has New Leaders

OKEx Renews Withdrawal after a Month of Idleness

As we already mentioned in our Crypto News, from October 16th, OKEx blocked all withdrawal: the reason was that one of the security keys was compromised after the detention of Star Xu, the platform founder. And finally, last week it was found out that Star had been freed. It was not announced yet, under which conditions.

Later, the OKEx founder finally spoke out and said he was working hand in glove with the Chinese police concerning the consolidation of share capital that he and his company OK Group took part in; he also promised to restore withdrawals by November 27th.

Despite all the challenges inside the company, OKEx didn't forget about its clients who stayed loyal in this trying time. The platform is elaborating a compensation payout system. For instance, all users who have over 10'000 USD on the exchange account, will receive from 100 USD to 1000USD.

OKEx Renews Withdrawal after a Month of Idleness

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