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$50 Million in Cryptocurrency May Have Been Stolen From Upbit Exchange

June G. Bauer

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UpBit-Exchange-Hacked

Multiple sources have claimed Upbit, the largest cryptocurrency exchange in South Korean, may have been hacked after 342,000 Ethereum ($50 Million) coins transferred out of the exchange’s wallets to unknown wallet. The exchange platform went into unscheduled maintenance right after the transfer.

Cryptocurrency monitoring service “Whale Alert” has recorded the following transaction:

The above ETH transaction might indeed be a hack: the TX was sent with a gas fee of 1000 gwei (100x the price for a “fast” transaction). This person wanted to be 1000% sure the TX goes through ASAP. No exchange ever sends a TX with this fee.

The exchange have posted the bellow notice on its website:

This is a developing story, we will keep you updated about this alleged security breach.

Pop cultureaholic, Technology expert, Web fanatic and a Social media geek. If you have any questions or comments please feel free to email her at [email protected] or contact her on Twitter @JuneTBauer1

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Altcoins

Graviex Exchange Adds ARK Coin

Sying Tien

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ARK_COIN-Added-to-Graviex

Cryptocurrency exchange Graviex announced that it just added Ark (ARK) to its platform starting Saturday, June 6th.

As of writing these lines, ARK wallets are now open for deposits, and users can trade ARK/BTC, ARK/ETH and ARK/USDT.

What is ARK coin?

ARK is an all-in-one blockchain solution that focuses on the interconnectedness of blockchains. Currently, Bitcoin and Ethereum are unable to transact with each other. The Ark team plans to change this through the use of Encoded Listeners and smartbridges. Ark is not just a cryptocurrency; it is an ecosystem intended to catalyze the mass adoption of cryptocurrency.

ARK uses what is called a Delegated-Proof-of-Stake (DPoS) consensus mechanism that is made up of 51 delegates. The delegates, located all over the world, are supposed to run the ARK network and are rewarded with block rewards for doing so. Holders of ARK are able to allocate their coins and vote to any delegate of their choosing via a wallet. The delegate would then share their reward with those who voted for them. The more ARK coins you hold the more rewards you will receive.

ARK/USD price

ARK’s Official Links:
Website: ark.io
Twitter: @ArkEcosystem
Reddit: https://reddit.ark.io/

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Exchanges

STEX Exchange Adds Indian Rupee

Sying Tien

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STEX Exchange Adds Indian Rupee

The Estonian cryptocurrency exchange, STEX, has added support to Indian Rupee payments within its platform. Users will be able to perchance cryptocurrency for INR – Indian Rupee with using VISA or Mastercard.

STEX exchange is a centralized cryptocurrency exchange that was founded by Vadym Kurylovych and launched in September 2017. The exchange located in Tallinn, Estonia. The exchange It supports crypto-to-crypto and fiat-to-crypto trading with no withdrawal limits.

Estonia is also one of the few countries that have a specific license issued for cryptocurrency exchanges, with simple company setup procedures and favorable taxation.

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Altcoins

ARK Price Jumps 48% After Binance’s Announcement

June G. Bauer

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ARK Price Jumps

Binance, the worldโ€™s largest cryptocurrency exchange, has officially enabled ARK staking on its exchange platform. Users can earn passive income by just holding at least 5 ARK coins on their exchange wallets.

Following Binanace’s announcement, the value of the cryptocurrency ARK coin rose by 48 percent last night. At the time of writing, ARK coin is worth $0.214, giving it a $25.8 million market cap.

Ark is one of the most ambitious solid projects in the crypto space. Ark is an all-in-one blockchain platform that aims to create an entire ecosystem of linked chains and a virtual spider web of endless use cases that make ARK highly flexible, adaptable, and scalable.

What is Crypto Staking?

In practice, staking allows customers to earn what is essentially interest on any cryptocurrency they hold, rewarding HODLers with a stream of passive income.

Currently, Binance supports staking for several PoS (Proof of Stake) coins, including Stellar (XLM), Algorand (ALGO), NEO (GAS), Ontology (ONG), VeChain (VTHO), Tron (BTT), Komodo (KMD), Stratis (STRAT), and Qtum (QTUM).

ARK/USD Price

*Charts are provided by cryptocompare.com

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