Binance
Binance Executive Detained in Nigeria Now in ‘Deteriorating Condition,’ According to CEO Richard Teng
Published
3 weeks agoon
By
adminBinance executive Tigran Gambaryan, who has now spent more than six months in a Nigerian prison, is suffering from “rapidly deteriorating” health conditions, according to the firm’s CEO.
In a new blog post, Binance chief executive Richard Teng says Gambaryan can no longer walk and is in desperate need of medical care.
“Tigran’s physical and mental conditions have deteriorated rapidly, and his situation is now more dire than ever. He is in severe pain and unable to walk due to a herniated disc. Despite his condition, the Nigerian government has denied him adequate medical care, including basic needs such as access to a wheelchair.”
Gambaryan, head of the crypto exchange’s Financial Crime Compliance team, was first detained by Nigerian authorities in February and charged with crimes related to Binance’s operations in that country.
While Gambaryan’s trial in a Nigerian court is expected to begin September 2nd, Teng says he has been prevented access to legal counsel.
Teng objects to authorities holding an employee to answer for allegations against Binance’s operations and calls on Nigeria to release Gambaryan.
“There is no need to imprison an innocent employee to answer for any allegations against Binance. We have settled issues in countries around the world, including the US, Thailand, and most recently in Brazil and India, in a reasonable, collaborative, and amicable manner with governments. All these were done without threat or harm inflicted on our employees.”
The Nigerian government had charged Binance, Gambaryan and another executive, Nadeem Anjarwalla, with four counts of tax evasion after the platform allegedly failed to register with the Federal Inland Revenue Service (FIRS). In June, tax evasion charges against Gambaryan and Anjarwalla were dismissed. However, both still face money laundering charges, which they deny.
In February, Gambaryan was arrested alongside his colleague Anjarwalla, who managed to escape the country. Gambaryan had traveled to Nigeria to engage in regulatory talks.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Source link
You may like
Fractal Bitcoin: A Misleading Affinity
Web3 gaming adoption is driven by platforms like Telegram
US Fed Cuts Interest Rate By 0.50%, Will It Spark A Crypto Rally?
GameStop CEO Ryan Cohen Agrees to Nearly $1 Million Settlement With FTC
“PickleBit”: Proof of Workforce, Fold, and Pickle Pop Partner on Pickleball Tournament, Offer Bitcoin Prize Pool
This altcoin’s rise signals a new era and is poised to overtake XRP and Solana
Binance
Binance fires back at WazirX over control claims
Published
1 day agoon
September 17, 2024By
adminBinance has denied responsibility for the WazirX cyber-attack, stating it never controlled the platform or the compromised wallet.
Cryptocurrency exchange Binance publicly refuted claims of responsibility for a recent cyber-attack on the Indian crypto exchange WazirX, emphasizing that it never controlled the platform. Binance also criticized WazirX co-founder Nischal Shetty for misleading statements.
In a Sept. 17 blog post, Binance denied claims that it had acquired or controlled WazirX, asserting that it never “owned, controlled, or operated WazirX at any time, including before, during, or after the July 2024 attack.” Binance criticized Shetty for misleading statements attempting to shift blame for the attack, which targeted a wallet managed by WazirX and the third-party custodian Liminal.
“[…] [Nischal Shetty] is trying to deflect the blame and claim that Binance may somehow be responsible for the losses suffered by WazirX users and creditors as a result of the cyber-attack. This is false, and any suggestion of the sort is outrageously misleading.”
Binance
Binance distances from WazirX’s downfall
While Binance had previously provided tech solutions to WazirX, it rejected any responsibility for the attack’s aftermath. Binance pointed out that once WazirX’s funds were removed from its platform due to a failed acquisition deal, the selection of Liminal as a custody provider was made independently by Shetty and Zettai, without Binance being consulted or informed.
WazirX incurred a $235 million loss from the July 18 cyber-attack, which severely impacted the exchange and led it to seek a Scheme of Arrangement in Singapore, a restructuring process under local insolvency laws. An independent audit by Grant Thornton later found no evidence implicating Liminal Custody’s infrastructure in the multi-million dollar hack.
Source link
24/7 Cryptocurrency News
BTC Recovers Amid Rising Demand, Binance Unveils Listings
Published
4 days agoon
September 15, 2024By
adminThe crypto universe has concluded yet another week with attention-nabbing developments unfolding across the broader market. While Bitcoin recovered from a $53K low to reach $60K in the past seven days, Binance announced a plethora of listings for numerous tokens. Here’s a brief report on some of the most buzzworthy headlines for this week, which have echoed a frenzy among market participants.
Bitcoin Regains $60K Amid Rising Institutional Demand & Macro Events
As mentioned above, the flagship coin recovered from a $53K low this week to top $60K. This rising movement is primarily attributable to increasing demand for the asset across the market.
Bitcoin ETFs registered $403.81 million in weekly inflows as of September 13, per Soso Value data, underscoring rising institutional demand. Further, this week saw Michael Saylor’s MicroStrategy bag $1.11 billion worth of BTC, validating increasing demand for the asset.
Simultaneously, even Japan’s Metaplanet bought BTC this week after revealing plans to do so in an official announcement. Macroeconomic events, in the interim, have further bolstered the flagship crypto’s price movements.
The U.S. CPI inflation came in line with market expectations at 0.2% for August. Meanwhile, even the U.S. PPI was slightly higher than the consensus estimate, increasing by 0.3%. These statistics have raised market expectations of a looming Fed rate cut ahead. Altogether, macroeconomic factors have sparked optimism for risk assets such as BTC, as seen by the recent price action.
BTC price rested at $60,162 as the week closed, a nearly 10% upswing in the past seven days.
Binance Announces A Stockpile of Crypto Listings
Meanwhile, crypto exchange giant Binance announced numerous listings this week, sparking a frenzy among market participants.
Continuing to tap into emerging markets, Binance this week announced Hamster Kombat (HMSTR) as its 58th launchpool project. Simultaneously, the exchange added Catizen (CATI) as the 59th launchpool project.
Moreover, the CEX rolled out a stockpile of listings for Polygon (POL), ex-MATIC, extending support to the tokenomics shift. POL’s price soared nearly 15% with the Binance announcement.
Similarly, the exchange also rolled out AERGO listing this week, igniting an upward trajectory in the asset’s price. Also, the exchange added Rocket Pool (RPL) to its stockpile of offerings this week, pushing RPL price up nearly 30% with the listing.
Altogether, this week mainly saw macroeconomic events kindle market sentiments while BTC price recovered with rising demand. Binance continued to cement its global foothold with enhanced user offerings.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
24/7 Cryptocurrency News
Binance Alerts Users To Malware Risks in Crypto Withdrawals
Published
5 days agoon
September 14, 2024By
adminBinance crypto exchange has issued a warning about an ongoing malware threat that manipulates cryptocurrency withdrawal addresses, posing significant financial risks to users. The exchange has observed an increase in such malicious activities, prompting a robust response to safeguard user transactions.
Binance Issues Alert on Malware Threats to Crypto Wallets
In a recent blog post, Binance detailed how the malware known as “Clipper” is affecting the crypto community. This malware intercepts and alters clipboard data to change cryptocurrency addresses copied by users during transactions.
As a result, funds intended for legitimate recipients are misdirected to addresses controlled by attackers. The security team at Binance has enhanced monitoring to detect and prevent these alterations.
Furthermore, the company has committed to educating its users about recognizing and mitigating such threats. The exchange emphasizes the importance of verifying the authenticity of wallet addresses before executing transactions. It advises double-checking addresses manually and avoiding the use of clipboard for transactions when possible.
Enhanced Security Measures and User Guidance
In addition, Binance has implemented several security measures in response to the rising threat from malicious software. One primary strategy is the blacklisting of suspicious addresses identified as part of the scam. This preventive measure has thwarted numerous transactions that would have resulted in unauthorized withdrawals.
The cryptocurrency exchange is also actively engaging with its user base, issuing notifications to those potentially affected by such malware. The exchange platform encourages users to report any suspicious activity immediately, enabling the security team to take swift action.
Moreover, the exchange recommends that users install and maintain reputable security software, which can provide an additional layer of defense by detecting and removing malware.
Preventative Strategies to Combat Crypto Scams
To combat the threat of this crypto scam, Binance advocates a proactive approach to online security. Users are urged to verify the sources of any downloadable apps or plugins, sticking to official and reputable outlets. Regular updates to security software can also help protect against the latest threats.
More so, this week, the American division of the crypto exchange, BinanceUS, partnered with digital asset custody firm Fireblocks. This collaboration aims to improve the security of customer assets against crypto scams using sophisticated wallet technologies.
Similarly, to combat crypto scams, the Commodity Futures Trading Commission (CFTC) launched educational collaborations with both federal and private entities to inform the public about prevalent scams, such as “pig butchering” and other deceptive schemes.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. His work includes notable contributions to Cryptopolitan and Coingape News Media, where he shares his insights on the latest developments in the cryptocurrency market. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Fractal Bitcoin: A Misleading Affinity
Web3 gaming adoption is driven by platforms like Telegram
US Fed Cuts Interest Rate By 0.50%, Will It Spark A Crypto Rally?
GameStop CEO Ryan Cohen Agrees to Nearly $1 Million Settlement With FTC
“PickleBit”: Proof of Workforce, Fold, and Pickle Pop Partner on Pickleball Tournament, Offer Bitcoin Prize Pool
This altcoin’s rise signals a new era and is poised to overtake XRP and Solana
Terra Luna Classic Upgrade Goes Live, Binance Announces Support
The (Zero-Knowledge Proof) Singularity Is Near
BlackRock Releases a New Report, "Bitcoin: A Unique Diversifier"
Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’
BitGo to enter stablecoin territory with USDS token
Anthony Scaramucci Predicts When Bitcoin Can Hit $100K
Bitcoin Toughest Time Over: Why Q4 Could Be A Game-Changer
Bitcoin’s Future in Payments: Overcoming Stablecoin Dominance with Fiatless Fiat
What is the U.S. dollar’s role in stablecoin ecosystems?
Top Crypto News Headlines of The Week
Ethereum, Solana touch key levels as Bitcoin spikes
Bitcoin Open-Source Development Takes The Stage In Nashville
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Why Did Trump Change His Mind on Bitcoin?
New U.S. president must bring clarity to crypto regulation, analyst says
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
Citigroup Executive Steps Down To Explore Crypto
Bitcoin flashes indicator that often precedes higher prices: CryptoQuant
Crypto Market Movers: 5 Altcoins Making Waves This Bull Run
Dormant Bitcoin wallet from 2014 moves BTC worth $10.2m
Polygon on-chain activity spikes despite MATIC price dip
Australia’s police joins global campaign to disrupt crypto scams
Trending
- 24/7 Cryptocurrency News1 month ago
Top Crypto News Headlines of The Week
- Bitcoin2 months ago
Ethereum, Solana touch key levels as Bitcoin spikes
- Opinion2 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- Bitcoin2 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
- Altcoins2 months ago
Ethereum Crash A Buying Opportunity? This Whale Thinks So
- Donald Trump2 months ago
Why Did Trump Change His Mind on Bitcoin?
- News2 weeks ago
New U.S. president must bring clarity to crypto regulation, analyst says
- Price analysis1 month ago
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
✓ Share: