South Korean gov’t doesn’t know who will protect crypto exchanges from Kim Jong-Un’s hackers
There has been a hot political debate underway on who should take responsibility for countering North Korean hacks targeting South Korean cryptocurrency exchanges. Recently, South Korea’s financial watchdog made it clear that they do not see this issue as any of their business.
According to Fn News, the Financial Services Commission, or FSC, has replied to a written inquiry from the National Assembly’s Political Affairs Committee on October 23. The FSC says that they’re not responsible for the crypto stolen during attacks from hackers sponsored by the Kim Jong-un’s regime, such as Lazarus Group, on crypto exchanges.
Per the report, the watchdog argued that crypto exchanges do not fall under their jurisdiction without providing more details on the matter. They forwarded the responsibility to the Ministry of Foreign Affairs and the Korea Communications Commission, or KCC.
But both the Ministry and the KCC believe that the FSC is still responsible for any damages suffered by crypto companies, as these are related to financial matters. The pair cite the FSC’s position “in charge of the management and supervision of virtual asset providers such as cryptocurrency exchanges.”
Representative Seong Il-jong, an opposition party secretary of the National Assembly’s Political Affairs Committee, doesn’t agree with the FSC’s stance. He reminded them that “with the passage of the revised South Korean crypto bill, all crypto-related matters became the task of the Financial Services Commission.”
Back in February, it was reported that Lazarus Group targeted several crypto exchanges in 2019. One of the attacks involved the creation of a fake, but realistic trading bot website that was offered to employees of DragonEx exchange.
Also, in August, a report from the U.S. Army said that North Korea now has more than 6,000 hackers stationed in countries such as Belarus, China, India, Malaysia, Russia, among others.
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Complete Guide to ChangeHero: Fast Crypto Swaps
Just like you don’t always have to go to a bank to swap some fiat currencies, you don’t have to go to a traditional exchange to convert Bitcoin and other cryptocurrencies. In the first case, you can choose a currency exchange, and in the second you have the option to use a similarly convenient and accessible alternative: an instant crypto exchange, such as ChangeHero. In this ChangeHero review we are going to tell you how ChangeHero manages to provide the best crypto exchange experience.
ChangeHero was founded in 2018 and is registered in Hong Kong. The team working on the service is based in many parts of the world, including Europe and Asia. Over the course of two years in operation, the team has grown almost twice in size. Regardless of the size, the team has always consisted of blockchain experts with years of experience in crypto.
ChangeHero started as a small company, but rather soon managed to partner up with the largest crypto businesses such as Exodus and SatoshiLabs. This helped accelerate the growth and make the service develop fast.
The main focus of the platform is to provide the best crypto exchange service to users. To this end, ChangeHero has streamlined the process of swapping cryptocurrencies, so that even an absolute beginner has no problems with it. The platform takes the market search and order matching in its hands, so you only have to make a few simple steps to convert Bitcoin or other cryptocurrency for another. In total, there are more than 40 natively supported cryptocurrencies.
When you log in to a traditional exchange, you see order books, graphs and many other sections. In contrast, on ChangeHero the exchange can start from the get go on the landing page, and the UI is easy to comprehend:
Notice how there are two modes of an exchange: Best Rate and Fixed Rate. In Best Rate, the result of your transaction can change due to volatility of prices. To avoid it, users can pick Fixed Rate, but the tradeoff is that the fee is slightly higher and the transaction is time-limited (more on that later).
Regardless of the chosen rate, the whole process takes only a few minutes, and you don’t need to worry about registering or giving up more than you want to swap into custody. The best thing is that you can dive right into the process, without signing up or creating an account. This is what makes ChangeHero the best crypto exchange service provider on the market from a customer’s point of view.
Thanks to the partners of ChangeHero, they offer the users of the platform debit or credit card purchase of cryptocurrencies. It is as quick, though a one-time mandatory KYC procedure is necessary. Since there are two options, regional restrictions are less limiting and the list of accepted fiat currencies is longer.
With the providers supported by ChangeHero, crypto purchases are quick and convenient with no worries about withdrawing from the exchange address.
If you want to convert Bitcoin to fiat, the fiat-to-crypto partners also offer selling cryptocurrencies for fiat. The flow of the process is very similar to the purchase process.
Like buying crypto, it’s quicker than to do so on an exchange and is not connected with custodial risks. The sell option puts ChangeHero on equal ground with other best crypto exchanges.
ChangeHero has a long, constantly updating list of currencies. Unlike on traditional exchanges, you do not have to look for markets for an altcoin pair or make multiple transactions — here the process is automatic, so you can exchange any combination of currencies.
Some of the listed currencies are also available for purchase and/or selling, and here is the exhaustive (at the moment of publication) list:
The list of the currencies with which you can buy crypto includes 28 fiat currencies, and you can sell crypto in exchange for 9 currencies.
The ChangeHero team works in many directions to make ChangeHero the best crypto exchange platform, including the creative and informative content.
On ChangeHero Blog you can find guides and tutorials about blockchain projects, weekly and monthly news roundups, interviews with prominent community members, service announcements and more! The blog is updated regularly to keep our users and readers informed on the latest trends and innovations in crypto and blockchain.
ChangeHero is an instant cryptocurrency exchange platform that does not have user accounts. In other words, you do not have to register at all. Multiple ChangeHero reviews point out to this being a strong point of the service, which makes it the best crypto exchange provider in comparison with traditional exchanges.
For all the services and convenience ChangeHero provides to its users, they take a reasonable fee of 0.5% from the exchanged result. When we’re talking about speed of exchange, security of funds and the convenience, which makes it one of the best crypto exchanges, it is a bargain.
The Fixed Rate exchanges guarantee that you will receive the exact amount that was estimated at the moment of creating the transaction. However, since there are risks connected with volatility, an additional 0.2–0.5% risk fee is charged.
Since Best Rate transactions take into account the current rate on the market, it does not matter when the funds will be actually sent to ChangeHero’s address for exchanging. However, in Fixed Rate transactions, to avoid charging users high risk fees, the time to send the funds for exchanging is limited to 15 minutes. If they arrive later, the transaction will expire and be refunded to a refund address automatically.
According to their AML/KYC policy, ChangeHero reserves the right to apply selective KYC procedure to the transactions the security system flags as suspicious. A user can either go through with the exchange after contacting support and going through a simple KYC procedure, or decline and get a refund. The team has been on record stating it is important to them that they do their part in deterring criminal activity in crypto, so they choose to comply with general AML guidelines.
ChangeHero has some of the most prominent crypto industry members to back up the claim that it provides one of the best crypto exchange services. Here are some of the partners’ ChangeHero reviews:
The platform includes ChangeHero API, with which the instant exchange option can be built in various products and platforms. The API is used by such partners as Coinify, SatoshiLabs (Trezor), CoolBitX (CoolWallet), Exodus and Magnum wallets. Besides, being all for diversity in the crypto space, they support Verge, Jelurida (Ardor, Ignis, NXT), DigiByte and other communities.
Like for many other crypto exchanges and platforms, for anyone who is interested in working and earning with ChangeHero, the affiliate program is available.
To sum up what makes the experience on ChangeHero the best crypto exchange platform:
- Convenient: easy and quick crypto swaps;
- Secure: no account creation means no data collection, no custody means you deposit only what is needed;
- Versatile: the list of supported currencies is rather long, and users can exchange, buy and sell cryptocurrencies — all on one platform;
- Accessible: the conversion process is very easy, but even if you have any trouble, the support team is always there to help you 24/7.
- Of course, the swaps are far from instant. But due to the nature of blockchain, it’s only natural they still take a few minutes. However, the process is fine-tuned so it takes less than 10 minutes on average;
- There are thousands of coins and tokens on the market, while ChangeHero supports only 40 or so. But judging from their social media, they are planning to eventually catch up with the demand from users.
All the perks and benefits we described in the ChangeHero review above, in our opinion, really make ChangeHero the best crypto exchange from the user experience standpoint. They seem to be doing fine in sticking to their mission to be the go-to place to convert Bitcoin and cryptocurrencies for all.By the way, they are also present on Twitter, Facebook, Reddit and Telegram, so you can always stay informed about the updates and content by subscribing.
Blockchain – Wikipedia
Blockchain formation. The main chain (black) consists of the longest series of blocks from the genesis block (green) to the current block. Orphan blocks (purple) exist outside of the main chain.
Bitcoin transactions (January 2009 – September 2017)
Bitcoin’s transactions are recorded on a publicly viewable blockchain.
- Mining — Blockchain technology allows wholesalers, retailers, and customers to track the origins of gems stones and other precious commodities. In 2016, The Wall Street Journal reported that the blockchain technology company, Everledger was partnering with IBM’s blockchain-based tracking service to trace the origin of diamonds to insure that they were ethically mined. DTC, the Diamond Trading Company has been involved in building a diamond trading supply chain product called Tracr.
- Food supply — Blockchain technology is being used to allow retailers and consumers to track the provenance of meat and other food products from their origins to stores and restaurants. Walmart and IBM are running a trial to use a blockchain-backed system for supply chain monitoring for lettuce and spinach — all nodes of the blockchain are administered by Walmart and are located on the IBM cloud. One cited benefit is that the system will enable rapid tracing of contaminated produce. Fogo de Chao, a Brazilian themed restaurant chain that features grilled meats, announced a partnership with HerdX, a blockchain-tech company focused on the food industry, that will enable suppliers, wholesalers, and diners to trace the beef served in Fogo de Chao restaurants back to the farm where it was raised. Some analysts are less convinced that most consumers will be that interested in this capability.
- Shipping Walmart Canada uses a blockchain-based system developed by DLT Labs, a blockchain SaaS provider, that allows the retailer to track shipments and deliveries handled by dozens of third-party trucking companies. One reported benefit is that the blockchain-based system enables automated invoicing that reduces disputed billing, which in turn reduces delays in Walmart paying the freight transport companies.
- Blockchain software development — The Linux Foundation’s blockchain initiative, Hyperledger Grid develops open components for blockchain supply chain solutions. The goal of the project, said the foundation, was to “accelerate the development of blockchain-based solutions to cross-industry supply chain problems.”