CoinMarketCap (CMC) remains the web’s most popular cryptocurrency tracking site but has come under public scrutiny within the last 24 hours for reporting fake trading volumes in exchange for incentives.Crypto Exchange Ranks, a firm which pulls in open source data from exchange APIs had in a blog post detailed how CoinMarketCap connived with Bitforex to list the exchange … [Read more...] about CoinMarketCap Responds To Allegations
Ever since Mt. Gox mishandled over $400 million of Bitcoins, the crypto-community has had trust issues with exchanges. Industry veterans constantly warn users not to keep their funds on exchanges; people are quick to assume that an exchange has lost their money if it doesn't turn up in a certain amount of time; and, it has become such a common practice for exchanges to have … [Read more...] about We Are in Need of a Trustworthy Exchange
Hacks of cryptocurrency exchanges seem to occur with alarming frequency and ultimately many of them close down with investors left counting their losses. It’s ironic that the funds of a decentralized ledger like the Bitcoin blockchain are left so exposed on centralized exchanges. Until decentralized exchanges become more popular with traders, we should expect the hacks to … [Read more...] about 3 Major Hacks That Rocked Crypto
This is a follow up to the article on the Binance exchange API "hack" based on what we now know.Binance was quick to stress their exchange was not hacked, but to be honest, you would expect that to be their first reaction, to prevent a meltdown. I use the term "hack" as a very general term for any nefarious computer activities, which on this occasion appears to be a very … [Read more...] about Is Google To Blame For The Binance Exchange API “Hack”?
For several hours on March 7, 2018, the crypto world was rocked with what appeared to be yet another cryptocurrency exchange hack. Social media networks like Twitter and Reddit were awash with angry Binance account holders proclaiming that their coins were being sold off without their consent.So, was the Binance exchange hacked and would it be added to the growing number of … [Read more...] about Why You Never Leave Your Main Stash Of Crypto On An Exchange
Cryptocurrency's lack of regulations means there are no set guidelines for how an exchange should behave. This has led to several exchanges engaging in unfair and undesirable tactics for their own gain. Often, their bad practices will inadvertently punish customers, but most of these practices have simple solutions that most exchanges could implement today. Overcharging for … [Read more...] about Bad Practices of Exchanges, and Some Simple Solutions