Cryptocurrency exchanges

Data of BuyUcoin cryptocurrency exchange traders allegedly leaked online

Data of BuyUcoin cryptocurrency exchange traders allegedly leaked online

An information breach on the BuyUcoin cryptocurrency alternate has reportedly led to consumer info changing into leaked underground.

Names, e-mail addresses, cellphone numbers, cryptocurrency transaction information, and financial institution particulars of customers could have been compromised, in accordance to Inc42. The publication estimates that as much as 325,000 customers are impacted, whereas Bleeping Computer suggests a determine nearer to 161,000. 

The alleged knowledge leak, flagged by researcher Rajshekhar Rajaharia, was posted on a hacking discussion board and is considered the work of ShinyHunters, beforehand linked to the sale of stolen firm databases. 

In whole, the alleged knowledge dump includes of three separate archives, with the related dates of June 1, July 14, and September 5, 2020.

The Indian cryptocurrency alternate has denied the existence of a knowledge breach, classifying reports as a “rumor.”

In a statement up to date on January 21, BuyUcoin stated the group is “completely investigating each facet” of the report. The Indian cryptocurrency alternate added that “all our consumer’s portfolio belongings are secure and sound inside a safe setting” and “95% of consumer funds are stored in chilly storage.”

BuyUcoin didn’t verify or deny {that a} leak had taken place, however did say that there’s a deliberate “overhaul” of cybersecurity processes all through 2021.

Nonetheless, the group’s original statement, since faraway from BuyUcoin’s predominant weblog, stated {that a} “low affect safety incident” occurred final yr wherein “non-sensitive, dummy knowledge” was leaked. 

The cryptocurrency alternate stated that in a “routine testing train” with the information, 200 entries have been impacted. Moreover, BuyUcoin claims that “not even a single buyer was affected through the incident.”

“BuyUcoin rejects alleged info in some media experiences that the information of three.5 lakh prospects was compromised,” the agency stated. “We wish to reiterate the truth that solely dummy knowledge of 200 entries have been impacted which was instantly recovered and secured by our automated safety programs.”

Nonetheless, this seems to contradict Rajaharia, who claims that as a consumer himself, his info was concerned within the leak. The analysis has known as BuyUcoin’s response “irresponsible,” as even when funds are secure, unaware customers should be inclined to phishing and social engineering scams based mostly on the alleged leak. 

Final week, Russian cryptocurrency alternate Livecoin closed its doors following an alleged cyberattack. The group stated that its infrastructure and backend programs have been compromised, resulting in alternate charges being tampered with and the alleged cybercriminals made off with substantial income, resulting in monetary harm that can’t be recovered from.

ZDNet has reached out to BuyUcoin and can replace after we hear again.

Have a tip? Get in contact securely by way of WhatsApp | Sign at +447713 025 499, or over at Keybase: charlie0


ETH Reserves On Cryptocurrency Exchanges Hits 15-Month Low Plus Highest Amount Of ETH Withdrawn In Single Day

ETH Reserves On Cryptocurrency Exchanges Hits 15-Month Low Plus Highest Amount Of ETH Withdrawn In Single Day

Over the past week, users have withdrawn $1.6 billion Ethereum from exchanges. According to analysts, ETH was moved to the DeFi protocols, and for staking in ETH 2.0.

According to the Glassnode Tweet, ETH balance on the cryptocurrency exchanges at the end of last week reached a 15-month low of 15.4 million ETH (about $20.5 billion).

📉 #Ethereum $ETH Balance on Exchanges just reached a 15-month low of 15,423,305.652 ETH

View metric:

— glassnode alerts (@glassnodealerts) January 23, 2021

The withdrawal of crypto asset began on January 19 – which shows that in a few days, ETH worth about $1.6 billion was withdrawn from the exchanges.

According to the Whale Alert service, most of the coins were transferred from large cryptocurrency exchanges to anonymous wallets.

Quantum Economics analyst Pedro Febrero said there are three reasons why so much ETH has been withdrawn from exchanges.

First, he suggested that users have started depositing ETH in DeFi protocols.

But, according to DeFi Pulse, the number of ETH deposited in the DeFi protocols decreased from 7 million coins on Tuesday to 6.9 million on Wednesday, and then again to 7 million in the last week.

Febrero also suggested that the number of ETH staked in Ethereum 2.0 has increased by more than 320% since December 2020.

On January 19, 170,000 ETH was staked in Ethereum 2.0, and on January 20, another 200,000 coins were staked.  This is about a third of the ETH withdrawn from the exchanges.

Febrero also suggested that institutional investors, such as Grayscale investors, are accumulating ETH. However, according to the BYBT website, Grayscale did not buy more ETH for its public trusts.

The explanation of the remaining ETH withdrawn from the exchanges is difficult to determine. Perhaps retail investors have started moving crypto assets from exchanges to their wallets.

“In our opinion, the withdrawal of Ethereum from the exchanges means that the price of the crypto asset has a better chance of growth. The less ETH available on exchanges, the higher the probability of a price increase, ” Febrero said.

On January 22, investors withdrew 659,000 ETH from crypto exchanges. CEO and founder of, Alex Saunders, says this ETH outflow may be the biggest of a single day.

Largest ETH withdrawal ever?, In a single hour,  659 thousand ETH left exchanges.

Saunders says, it is likely that Ethereum investors have moved their ETH to offline wallets, DeFi platforms, or staking in ETH 2.0. This shows that ETH investors are optimistic about the future of the digital asset.

Largest withdrawal of $ETH ever? 659k ETH left exchanges in a single hour yesterday as dip buyers sent coins to their stack & stake. Great data as always @cryptoquant_com!

🌏✅🚀 #EIP1559 #Quartering #YieldFarming

— Alex Saunders 🇦🇺👨‍🔬 (@AlexSaundersAU) January 23, 2021

On the price side, Ethereum is back in bullish territory after regaining the $ 1200 price area as support. Most likely, Ethereum will continue to move up from the top with small steps, setting new support levels.

Buy and Sell Cryptocurrency at Paybis

If the king of cryptocurrencies stays in the 30-32k range, it will provide the stable environment needed for Ethereum to thrive, and possibly approach $1,500 or even $2,000.

Most likely, the bullish momentum of Ethereum will continue till February 8, when the CME group will launch ETH futures contracts for institutional investors.



I am the editor-in-chief of The Crypto Basic. Love to get involved in cryptocurrencies. I am in crypto since 2014. I like the way blockchain is progression, being adopted by large firms and in most parts of our lives. We are early adopters and followers of blockchain, and time will surely come when our success factor will be blockchain.


Author: By Ammara

Bahrain central bank licenses Sharia-compliant crypto exchange

Bahrain central bank licenses Sharia-compliant crypto exchange

CoinMENA, a soon-to-launch cryptocurrency exchange headquartered in the Kingdom of Bahrain, has obtained a license from the Central Bank of Bahrain, or CBB.

The newly acquired “Crypto Assets Services Company License” allows CoinMENA to operate fully as a regulated crypto exchange and onshore platform, the company announced on Jan. 24. The CBB’s license ensures that CoinMENA meets all of the operational, technical and security requirements set by the central bank.

As CoinMENA plans to roll out its services in the Middle East and North Africa, or MENA, countries — including Bahrain, United Arab Emirates, Saudi Arabia, Kuwait, and Oman — CoinMENA is also certified by the Shariyah Review Bureau as a Sharia-compliant platform.

At the launch, CoinMENA will support five major cryptocurrencies including Bitcoin (BTC), Ether (ETH), XRP, Litecoin (LTC) and Bitcoin Cash (BCH). The exchange will also feature an over-the-counter, or OTC, platform for larger transactions, providing customers with a dedicated manager overseeing every OTC trade.

Dina Sam’an, co-founder and managing director of CoinMENA, said that the company aims to expand to more countries after its launch:

“As CoinMENA grows, we will be providing access to additional digital assets and expanding the jurisdictions we operate in, with the view of becoming one of the leading digital assets exchanges on a global scale.”

CoinMENA has been working to launch its crypto trading platform for more than two years so far. In late 2019, CoinMENA appointed the Shariyah Review Bureau as an outsourcing facility to manage and supervise the Sharia certification and Sharia audit services for its digital asset platform.

Title: Bahrain central bank licenses Sharia-compliant crypto exchange
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Published Date: Mon, 25 Jan 2021 10:11:03 +0000

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