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Trade Satoshi is Banning Users From 10 Countries

June G. Bauer

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Trade Satoshi is Banning Users From 10 Countries

The UK based cryptocurrency exchange, Trade Satoshi has announced that it will no longer serve users from USA, Iran, Democratic People’s Republic of Korea, Sudan, Cuba, Syria, Yemen, Somalia, Serbia, Japan. This will take effect next Saturday, Nov 30th.

Users from those countries are advice to withdraw their funds from the platform.

Before the above announcement, Trade Satoshi’s trading services were available to users from all geographical regions.

Trade Satoshi was launched in late 2015 and it is headquartered in London, UK. According to CoinGecko, the exchange 24 hours trading volume is 12.98 BTC ($87,212). Trade Satoshi currently support exchange supports 150 cryptocurrencies and 506 market trading pairs.

Unlike many exchanges, Trade Satoshi has lower trading limits where users can buy and sell cryptocurrencies without breaking their own banks. It also has a friendly chat box where you can live chat to other traders from all over the world.

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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Exchanges

Crex24 Will Require KYC Verification

June G. Bauer

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Crex24 KYC Verification

Crex24, cryptocurrency exchange will require European Union users to go through a KYC process by uploading a valid government ID and their Social Security numbers, so the exchange can comply with the European Anti-money laundry (AML) rules. This will take effect on January 1st,2020.

It is not uncommon for cryptocurrency exchanges and wallet providers to ask for KYC (Know your Customer) documents to verify users’ identities. Most crypto Entities engaged in exchanging between virtual and fiat currencies are required to comply with the AML rules. Depending on each situation, failure to comply with KYC and AML requirements may result in suspension of license, or in some cases severe penalty.

Crex24 exchange has been operating since 2017 and based in Cyprus. CREX24 uses two-factor authentication (2FA) as well as encrypted connection. the exchange supports Visa/MC, Perfect Money and Epay for deposits. Perfect Money for withdrawals.

Crex24 exchange 24 hours trading volume is $1,876,550.01 (252.89 BTC), it currently supports 570 cryptocurrencies and 846 market trading pairs.

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Exchanges

CryptoBridge Exchange Is Shutting Down

June G. Bauer

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Cryptobridge-Exchange-is-Shutdown

CryptoBridge, the decentralized cryptocurrency exchange has posted a front page announcement on the exchange’s main website stating that it will be shutting down its trading services by December 15.

CryptoBridge Shutdown Notice

All the exchange’s users will have to withdraw their funds before the deadline, but in order to do so they will have to submit their KYC documents for verification purposes to follow the new exchange’s rules

CryptoBridge is a decentralized cryptocurrency exchange (DEX) that was established in late 2017. The platform operates using the BitShares network, which features a processing capacity of 100,000 transactions per second and does not store the private keys of their user’s funds.

Decentralized Exchange is called a market ecosystem in which sellers and buyers coexist without relying on a third-party service to retain customer funds, exchanges occur directly between users (P2P) through an automated process. The transactions resulting from their exchanges are recorded in an accounting book, distributed in each node that participates in the network.

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Exchanges

$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.

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