Estonian crypto exchange hit with accusations over hacking
A cryptocurrency exchange based in the Baltic nation of Estonia has become embroiled in a row over its handling of a hacking case.
Crex24 has been accused of hiding information about the supposed hack.
The firm, which has put a temporary suspension on trading for a double-figure number of altcoin pairs, has been publicly accused of sharing very little information about the problems.
It is understood that traders are finding that they are unable to either withdraw from their accounts or invest in further coins.
It was reported recently that a customer of Crex24 uncovered price volatility information about an altcoin called Htmlcoin.
This report, which was made on the crypto news website Livecoin, went on to claim that Crex24 refused to let him access his funds.
This supposedly led to the customer losing over $30,000 in cryptocurrency.
Crex24 later made a public statement claiming that a large amount of Htmlcoins had been taken from its site and that it would endeavour to get the value back.
The exchange also said that it had changed its “know your customer” (KYC) criteria.
On Twitter, however, customers were not happy.
One Twitter user accused the firm of having “deliberately stole” coins.
Crex24 took to the social networking site towards the end of last month to appeal to coin developers who may be interested in listing their coin on the exchange.
“In this hard time for many projects added to #TradeSatoshi, we want to offer the developers of these projects to list their coins on CREX24 on favorable terms”, it wrote.
“If you want to list your coin on CREX24, please fill in our listing request form”, it added.
However, users responded with anger.
“a complete theft. SCAMMER”, wrote a user called @abdullahegemen.
“they cannot provide account security. and they stole the coins, even they deliberately stole them. They have now undone all trades traded on the Crex24 exchange. They stole our money. PAY ATTENTION SCAMMMM”, the user added.
Entrepreneur describes bitcoin as having no “intrinsic value”
A leading entrepreneur has hit out at bitcoin, saying that it doesn’t have “intrinsic value”.
Mark Cuban, who operates in fields like sport and entertainment, made the comments while speaking to Kevin O’Leary on the Ask Mr. Wonderful show.
He went into some detail on his views about bitcoin.
“You have to ask how to value it and people value it in different ways, particularly Bitcoin”, he said.
“So with Bitcoin, some people value it as a store of value which makes it like baseball cards, art, gold.
“They have value because people see value in them, not because they have intrinsic value”, he added.
However, he did go on to share his view that blockchain technology may well be valuable.
“Blockchain, effectively, is software. It’s a distributed database that’s managed independently and that inherent combination makes it a utility, makes it software effectively that has value and utility”, he said.
- Former Schwab, Wells Fargo, and Morgan Stanley Advisor is Sentenced to Seven Years
- FX Fraudster On The Run After £70m Ponzi Scheme Collapses
- Fallout from “Hate-Symbol” Pepe Meme Could Have Implications for the Entire Crypto Sector
- Is this the Biggest Scam Operation in the World?
- Martin Lewis Fans Targeted in Bitcoin Scam
- NFT ‘Wash’ Trading – The Fake Deals Keeping Prices Artificially High
Former Schwab, Wells Fargo, and Morgan Stanley Advisor is Sentenced to Seven Years
FX Fraudster On The Run After £70m Ponzi Scheme Collapses
Safest Forex Brokers 2023
|Broker||Info||Best In||Customer Satisfaction Score|
|#1||73 % of retail CFD accounts lose money Founded: 2014||Global Forex & CFD Broker||
Best Trading Conditions Visit broker
|#2||Your capital is at risk Founded: 2014||Global Forex Broker||
BEST SPREADS Visit broker
|#3||Your capital is at risk Founded: 2006||Globally regulated broker||
BEST CUSTOMER SUPPORT Visit broker
|#4||86% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Founded: 2008||Global CFD Provider||
Best Trading App Visit broker
|#5||Between 74-89 % of retail investor accounts lose money when trading CFDs Founded: 2010||Global Forex Broker|
|#6||67% of CFD traders lose Founded: 2007||Global CFD & FX Broker||
ALL-INCLUSIVE TRADING PLATFORM Visit broker
|#7||Your capital is at risk Founded: 2009, 2015 and 2017||Global Forex Broker|
|#8||Your capital is at risk Founded: 2006||CFD and Cryptocurrency Broker||
CFD and Cryptocurrency Visit broker
Forex Fraud Certified Brokers
Stay up to date with the latest Forex scam alerts
Sign up to receive our up-to-date broker reviews, new fraud warnings and special offers direct to your inbox