Page 4 - Cryptocurrency

CoinDCX announces customer protection fund days after WazirX heist

CoinDCX has instituted the fund by allocating Rs 50 crore from its own cash reserves

Make Bitcoin great again: Here's what Trump's backing of crypto could mean

His public backing of crypto undoubtedly boosted investor optimism. The price of Bitcoin surged to almost US$70,000 on July 29, its highest level in more than six weeks, before dropping to US$62,000

WazirX fallout: On crypto bourses table, a reparation fund for clients

Traditional insurance products for crypto difficult ask: Experts

Crypto scam: ED seizes Rs 1-cr cash during raids in Leh, other places

An amount of Rs 1 crore and "incriminating" documents were seized following raids against operators of a "fake" cryptocurrency investment company that cheated people in Ladakh and some other places, the Enforcement Directorate said Sunday. The searches were undertaken on August 2 in Leh, Jammu and Sonipat in Haryana under the provisions of the Prevention of Money Laundering Act (PMLA). Officials had said this was the first time that the federal anti-money laundering agency carried out searches in Ladakh. The probe pertains to cheating of innocent people, including people of Leh, by assuring them of doubling their investment in a short period of 10 months through investment in fake cryptocurrency named Emollient Coin, the agency said in a statement. This "fake" cryptocurrency, as per the ED, was represented and promoted by Naresh Gulia of Sonipat through a company named Emollient Coin Limited that was incorporated in September, 2017 in the United Kingdom. The business was promoted a

ED undertakes first-ever searches in Ladakh in cryptocurrency fraud case

In its first ever raids in the Union Territory of Ladakh, the Enforcement Directorate on Friday conducted searches as part of its money laundering probe linked to a cryptocurrency fraud case in which investors lost more than Rs 7 crore worth of deposits, officials said. The agency's zonal office here raided at least six premises in Leh town of Ladakh, Jammu in J-K and Sonipat in Haryana in the case against A R Mir and others. It is alleged that 2,508 investors deposited more than Rs 7.34 crore in a fake cryptocurrency business in the name of "Emollient Coin Limited". They, however, did not get any returns or currency back, and these funds were laundered by the business' promoters to purchase land assets in Jammu. The money laundering case stems from a March 2020 FIR registered in Leh and some other complaints filed in the Union Territory (UT) of Jammu and Kashmir (J-K) against Mir and Ajay Kumar Choudhary. Police in Leh in their FIR stated that an inquiry was conducted by a committ

WazirX dials FIU-IND, FBI to recover funds lost to $230 million heist

This comes days after the platform, which has over 16 million registered users, lost about 45 per cent of its crypto assets to a security breach

WazirX unveils recovery plan after $230 mn cyberattack, seeks user vote

WazirX will socialise the loss and distribute its impact across all the users on the platform

WazirX major security breach: Calls for legal recourse grow louder

Legal experts tracking the sector believe that users who have lost their funds can look at the country's consumer protection laws as one recourse

WazirX suffers security breach; digital assets worth $234 million swindled

WazirX confirmed the security breach on X. The firm has temporarily paused customer withdrawals

Crypto industry body requests reduction in TDS to 0.01% in Budget

The crypto body has further asked for an increase in the threshold limit for TDS deduction under Section 194S of the Income Tax Act from Rs 10,000 to Rs 5,00,000

With $441 mn, crypto funds witness inflows for first time in a month

Crypto digital asset products saw inflows totaling $441 million in the week ended July 5, CoinShares International Ltd. data show, a significant rebound from the $39 million in outflows the week prior

MT Gox creditors' Bitcoin sale fears trigger fall to lowest since February

On top of that, administrators of the failed Mt. Gox exchange are returning an $8 billion hoard of Bitcoin to creditors in stages

Crypto exchange platform CoinDCX acquires MENA region's BitOasis

This comes nearly ten months after CoinDCX invested in the company, marking one of its earliest investments in the MENA region

India-based crypto exchange CoinDCX acquires full stake in Dubai's BitOasis

The firms did not disclose the transaction value, but BitOasis said in a separate statement that CoinDCX, now owns the full share capital of the Dubai-based company

Home-grown cryptocurrency companies call for multi-agency regulation

Industry warns of complex, time-consuming legislation through a single regulator before 2025

'Boring' bitcoin sends weekend trading volume to all-time lows: Research

Bitcoin trading gained notoriety for its "Wild Weekends," where the digital currency would experience wide price fluctuations

CoinDCX launches Web3 mode on its app enabling access to 50k DeFi tokens

The company will offer points to CoinDCX users based on their transaction history as part of the current launch

Bitcoin extends drop after one of crypto's worst weeks of 2024: Report

A gauge of the largest 100 digital assets fell about 5% in the seven days through Sunday, the steepest such slide since April, data compiled by Bloomberg show

Financial watchdog imposes Rs 18.82 cr penalty on crypto exchange Binance

World's largest cryptocurrency exchange violated India's anti-money laundering regulations, says Financial Intelligence Unit

Crypto exchange Binance seeks to slash size of $13 billion UK lawsuit

Lawyers representing BSV Claims, a vehicle set up to pursue the case, say the exchanges engaged in anti-competitive behaviour to delist BSV in 2019