Crypto exchange HTX (formerly Huobi Global) has experienced its fourth hack in just two months, resulting in a loss of $13.6 million from a hot wallet breach on November 22. The exchange has assured users that they will be fully compensated for their losses and that their funds are secure. This incident follows an $86.6 million exploit on the HTX Eco Chain (HECO) bridge the day before. In September, the exchange was hacked for $7.9 million, and there was also a $100 million hack on the Poloniex exchange, which is affiliated with HTX. Despite these security breaches, HTX executives maintain that the exchange is performing well.In other news, Binance, a prominent crypto exchange, has agreed to plead guilty to violating the U.S. Bank Secrecy Act and will pay $4.3 billion in penalties and forfeiture to the U.S. Justice Department. Binance’s CEO, Changpeng Zhao, has also admitted guilt to one count of violating the U.S. Bank Secrecy Act. As a result, Zhao has stepped down as CEO, and Richard Teng has been appointed as the new CEO. The exchange has been accused of facilitating more than $1 billion in illicit transactions and soliciting U.S. users without proper registration. Despite the guilty plea, there has not been a significant withdrawal of funds from Binance.Lastly, the Bank of Korea and South Korea’s Central Bank are planning to invite 100,000 citizens to participate in a pilot test of the country’s central bank digital currency (CBDC). However, the use of the currency will be limited to payment purposes only, as other uses such as personal remittance will not be permitted at this time. While the Bank of Korea has not yet made a decision on implementing a CBDC, further trials, including an integration simulation system for carbon emissions trading on the Korea Exchange, are expected. The demand for a digital form of public currency has grown due to the rapid digitalization of the economy, with stablecoins already being widely used in certain sectors of the private sector.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Asia |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | Huobi Global, U.S. Bank Secrecy Act, Iranian users, Poloniex, Binance, BitTorrent, Russian marketplace Hyrdra, Bank of Korea, Korea Exchange, District Court for the Western District of Washington, U.S. Department of Justice, Bestmixer, International Emergency Economic Powers Act, HTX, Tron, U.S. Justice Department |
| Currencies | South Korean Won, Stablecoin |
| Securities | None |
