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Posts published in “News”

All updates related to latest developments in Crypto Currency

User gets Scammed, Funds safe, Koinex Claims Security Measures Robust

On March 21, 2018 Ajay (Name changed) started reaching out to telegram groups to find an emergency contact number of Koinex – The Crypto Asset exchange. He claimed his account was hacked. Ajay set out to reach Koinex’s Lower Parel office after his telegram efforts went in vain. Ajay’s version of the story says that he reached before his funds were stolen and asked the Koinex team to freeze his…

CZ Clarifies Binance Hasn’t Received Any Mandate From Japan FSA but are in Active Dialogue with them

It takes one bad news for the Crypto market to plummet. Within an hour of news breaking out about “JAPAN PLANS TO ISSUE WARNING AGAINST BINANCE”, that was first tweeted by @BTCVIX, Bitcoin prices started sliding down. The prices enjoyed a place above 600000 INR today until it fell by 25000 as soon as the news broke out. According to the tweet, Nikkei a Japanese Newspaper has published the report that…

After a successful ICO, Company to Distribute Shares to Participants

In an industry first move, Lympo, the sports and wellness company is giving away company shares to their token holders. Lympo closed a successful ICO at the end of February and the ERC20 LYM tokens are available on a few international exchanges. LYM is one of the few tokens that has managed to remain at a price above the ICO price which was 1 ETH = 40000 LYM tokens.  In a…

CoinDesk Reporter tweets about Meeting Satoshi Nakamoto, Coindesk clarifies

Earlier today I personally was taken aback when one of the CoinDesk reporter Tweeted “BREAKING: Just met Satoshi Nakamoto, don’t know how to react. Article uploading soon.” BREAKING: Just met Satoshi Nakamoto, don’t know how to react. Article uploading soon. — Bailey Reutzel (@BLR13) March 17, 2018 Turns out, Bailey’s account was hacked and Coindesk clarified the same on Twitter: PUBLIC NOTICE: Our reporter @blr13‘s account has been hacked. https://t.co/mg6s0gFd3l…

In a Bearish market, Referrals to Bring in the Traders for KoinOK

What do you see when you decide to open an account in a bank? The reputation, the staff, the service, etc. Nope. In my personal opinion by interacting with 100s of people on a daily basis, I have learnt that they go for banks that provide free tickets for movies, or cashback, or rewards in some or the other form. The principle remains the same for cryptocurrency exchanges in India.…

NEO and GAS Withdrawals Halted on Koinex

Koinex has added a lot of new features and have been adding new cryptocurrencies for trading every week. The most recent addition being NEO and the accompanying GAS. It was announced on their twitter, which also acts as a news aggregator while they are not tweeting about adding coins. New #Token Announcement: Adding #NEO and #GAS to the list of supported #crypto assets on the exchange. Deposits for $NEO and…

UPI Deposits: The Free & Fast Alternative to Payment Gateways

For instant deposits, exchanges offer Payment Gateways. Payment gateways do not support some major banks and charge 2-4% fees for deposits. NEFT/IMPS based deposits take too much time. Exchanges have started using UPI for Deposits to cater to the demand of “Quick” Deposits. But are the people aware of it? One user of an exchange travelled over 1000 Kms to visit their office. Why? To ask how UPI works. Markets…

I Exploit Loopholes. Security Loopholes – Arijit Dey

Arijit Dey possibly remains the most hated name in the Cryptocurrency space this week in India. Coin Crunch was able to uncover the scam and identify Arijit for duping a Koinex and Bitbns customer into sending 4962 XRP to his personal wallet on Bitfinex. After the XRP were returned to the user, Arijit was able to log in to the user’s account and steal 4962 XRP again. We were able…

Ex-Bitbns Admin accused of scamming hacked user Account, Stole 4962 XRP

Earlier we reported that a user Ashish (name changed) was a victim of an email scam. He received an email from an account koinex.in@gmail.com to transfer 6900 XRP tokens. Of which he transferred 4962 XRP tokens. We determined that the scammer is an employee of Bitbns exchange and promptly informed the team. Bitbns clarified that scammer Arijit Dey who also goes by @dCryptoMania on Telegram was just an administrator of…

XRP Stealing Scammer pretending to be from Koinex tracked down by Coin Crunch India

Ashish (Name changed) became a victim to an email scam and lost about 4962 XRP (Ripple) in February. He was sent an email from Koinex.in@gmail.com to transfer 6900 XRP tokens to activate his account. Ashish’s account was locked by Koinex genuinely as he had a due of 6900 XRP. The email reminder sent to him however was from a scammer who tried to bank on the opportunity. Ashish then transferred…