Cryptocurrency derivatives exchange BitMEX will be launching a user verification program on August 28, requiring all customers to complete ID checks within the next six months. But as a sweetener, they’re offering a trading competition that’s only available to verified customers. While BitMEX was founded in 2014 and has grown to become one of the largest derivatives exchanges in the world, the platform hasn’t previously required user verification. Commercial Director of BitMEX Ben Radclyffe told Cointelegraph that all of BitMEX’s customers must complete the new verification process by February 12, 2021: “User verification has been on our list of things …

The hackers who conducted the massive Twitter hijacking on July 15 do not appear to be sophisticated Bitcoin (BTC) users, as they left trails leading to and from major exchanges that presumably hold the keys to their identities. Address bc1qxy summary. Source: Crystal Blockchain. The Bitcoin address that hackers used to solicit illicit donations is bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0wlh. A couple of hours into the hack, the perpetrators started moving Bitcoin into other addresses. The Bitcoin trail they are leaving behind suggests that they are not terribly sophisticated when it comes to blockchain technology. They are reusing the same addresses, they are not …

HDR Global Trading Limited, the firm behind veteran crypto derivatives platform BitMEX, has undergone a corporate restructuring and will now be known as ‘100x Group.’ HDR announced the changes on July 15 and the Seychelles-based 100x will become the new holding structure for HDR and all other assets, including BitMEx. The announcement said the “new structure provides [the] group with more freedom to explore, incubate, and pursue new opportunities and investments.” There are also suggestions the company may expand into other ventures beyond BitMex. Facilitating investments The 100x Group is led by HDR’s founders, Arthur Hayes, Ben Delo, and Sam …

Hong Kong-based cryptocurrency derivatives exchange BitMEX is launching a new program with benefits for its corporate clients including enhanced security service, and accounting. According to a June 22 announcement on BitMEX’s support page, the exchange is launching a new program for corporate customers, BitMEX Corporate. Accounts on the crypto exchange that are not owned and operated by an individual can now ensure their BitMEX holdings are the legal property of a corporation. BitMEX said the new features were created for clients who need “different ownership structures for their accounts”, the means for their employees to access and manage accounts, and …

OKCoin and HDR Global (the company that owns BitMEX) have partnered to provide a joint grant of $150,000 to Bitcoin (BTC) Core developer Amiti Uttarwar. This is the first time two competitor exchanges have come together to co-fund Bitcoin’s open source development. The two exchanges have provided funding separately in the past with OKCoin providing grants to Fabian Jahr and BTCPay Server ($100,000) in February and May 2020, respectively. HDR has recently provided grants to the MIT DCI, Bitcoin Core maintainer Michael Ford ($150,000), and Bitcoin developer and researcher Gleb Naumenko ($100,000). Surprise collaboration This joint move is in recognition …

A new website seeking to compile an active list of every cryptocurrency exchange that welcomes traders in some capacity without forcing them to hand over personal information through know-your-customer, or KYC, verification. Kycnot.me is only concerned with exchanges that support Bitcoin (BTC) or Monero (XMR), asserting that BTC is the largest crypto asset with the most adoption and XMR offers the strongest privacy protections. Website tracks KYC-free crypto exchanges The website currently lists 14 KYC-free trading platforms, many of which offer a peer-to-peer marketplace for crypto assets. However, the site has listed warnings concerning more than half of the exchanges …

Cryptocurrency exchanges have an important role in driving adoption around the world, but even the biggest operations face significant challenges when trying to expand their services. The advent of Bitcoin (BTC) and the subsequent development and launch of numerous other cryptocurrencies have changed the way people look at transacting across the world. Dependency on traditional banking systems is no longer the only option available to people. Blockchain networks and cryptocurrencies are able to bypass conventional financial systems and allow people to transact directly, without having to go through a centralized institution. In an ideal, cryptographically secure world, users would transact …

Despite yesterday’s 8% crash in the price of Bitcoin (BTC) driving many BTC bulls from the markets, altcoin longs have only seen slight declines, with Ether (ETH) longs defying the trend with a slight rally test of recent all-time highs on Bitfinex. However, altcoin bears are quickly emerging from the woods, with shorts against many top altcoins piling up quickly amid Bitcoin’s recent drop. With many altcoin bulls holding on despite the increase in shorts, numerous leading crypto assets could see a surge in liquidations regardless of what direction the markets ultimately take. Bitcoin longs retrace heavily The BTC shake-out …

Data appears to contradict Bitfinex’s claim that the reason for its users withdrawing 135,000 Bitcoin (BTC) from the exchange was an arbitrage opportunity that ensued following Black Thursday. 135,000 BTC later On Thursday, March 12, Bitfinex was holding 200,000 BTC. By May 25, this number dwindled to just 65,000 BTC. This is a 67% decrease over the span of two and a half months. Bitfinex Bitcoin Balance. Source: Glassnode Data contradicts Bitfinex’s explanation In a Cointelegraph interview, Bitfinex CTO Paolo Ardoino stated the driving factor behind this trend was the fact that following March 12, BTC price on the exchange …

The plaintiff in a lawsuit accusing BitMEX of market manipulation and operating without a license in the U.S. believes that Twilio possesses thousands of incriminating email records that prove their case. The Bitcoin Manipulation Abatement LLC (BMA) has asked the court to preserve all BitMEX-related email data held by the U.S. cloud communications platform, Twilio. BMA is concerned that without the order, BitMEX could delete all of the records. BMA filed a complaint in mid-May accusing BitMEX’s parent company, HDR Global Trading Ltd., of widespread crypto market manipulation and of being an unlicensed money transmission business in the U.S. Speaking …

Coinbase experienced the largest net outflow of Bitcoin (BTC) in ages in the wake of the recent service outage. Even Nassim Taleb has left the nest. Black Swan The June 1 outage happened during the surge of traffic as Bitcoin was trying to push through the $10,000 resistance level. Similar to the BitMex blackout a few months ago, this caused much frustration among its user base. A few days later, one of its most famous users, “Black Swan” author Nassim Taleb, quit the exchange. Coinbase net Bitcoin flows. Source: Glassnode. Users punishing Coinbase? June 7, Coinbase users withdrew 22,000 more …

Following the latest CoinMarketCap update which introduced the “Confidence factor” to rank exchanges, users are taking issues at perceived injustices against popular platforms. A pseudonymous Twitter user going by the name of Cosmonaut called out CoinMarketCap for placing BitMEX, one of the most popular derivatives exchanges, all the way down at the 175th spot. Such a low position would seem uncharacteristic within CoinMarketCap’s new rankings, where web traffic is one of the primary factors. This update comes after a period of several weeks where exchanges were ranked exclusively by web traffic — which also drew criticism. According to CoinMarketCap, BitMEX …