#Exchange Mercado Bitcoin: Largest Brazilian Bitcoin Exchange starts massive Employee Firing Published 5 months ago on October 21, 2018 By Layla Harding Share Tweet Mercado Bitcoin, Brazil’s largest cryptocurrency exchange by trading volume, as of late fired “somewhere around” 20 employees in the midst of restructuring endeavors being made to “center around professionalization, better governance and greater dexterity in client service.” Neighborhood news outlet Entry do Bitcoin supposedly addressed four now ex-employees that served at various progressive levels. One noted it “was appalling” and said that there “were individuals crying” over the event. The ex-employees uncovered that senior executives began getting laid off not long ago, on October 15, with other employees being fired by an executive the exact next day. The company, advocating what was happening, uncovered it was restructuring its marketing and human resources departments. Those met by the neighborhood news outlet asserted the influenced departments were covered after the cutbacks. One said that executives told employees that “it was a company minute, they expected to dry out their structure. To put it plainly, they went one stage over what was being charged.” As per their records, Mercado Bitcoin fired employees it hired from other companies under a half year back and, sometimes, fired individuals that had been working there for under two months. The move is prominent as the cryptocurrency exchange is the largest one in Brazil. As indicated by accessible data, it traded 4,150 BTC in September, and 1,965 BTC so far this month, which implies it speaks to more than 30 percent of the Brazilian market’s volume. Crypto Exchanges Under investigation Reacting to a demand for input from Entry do Bitcoin, the cryptocurrency exchange uncovered it has been “advancing changes in its structure” since the start of this current year to serve its users better. In October, its answer peruses, changes were made to the marketing, HR, and administrative departments, while others were left unaltered. The exchange administrator included: “As for personal and financial data, Mercado Bitcoin does not disclose its data to the market, but rather clears up that the quantity of individuals who left the company in October is essentially lower than demonstrated, achieving 20 individuals just, on the off chance that we incorporate consultants and other service suppliers.” Exchanges in Brazil have been under investigation, as back in August the government sent them a 14-point questionnaire to take in more about their businesses and their potential use in money laundering. Prior this month, the nation’s antitrust watchdog, CADE, sent them another questionnaire they’ll need to answer or face a fine that can reach $25,000. Related Topics:bitcoin exchangebitcoin exchange brazilBlockchaincryptocurrency exchangeMercado BitcoinMercado Bitcoin BrazilMercado Bitcoin Brazil ExchangeMercado Bitcoin employeeMercado Bitcoin employeesMercado Bitcoin exchangeMercado Bitcoin firingMercado Bitcoin firing employeestrading Up Next Why Governments will trust Bitcoin and no other cryptocurrency ever Don't Miss Why Ethereum has no future and why ETH will never rise again Continue Reading Advertisement You may like ETH Price Analysis: Has Ethereum turned bearish? Mt Gox: Has the time come when Mt.Gox Creditors will be paid? Cryptocurrency Price Analysis: Great Week for the top 10 Ripple Price Analysis: XRP going to fall or rise? Bitcoin Price to $4500 soon? BTC Price Analysis Tom Lee: Bitcoin Bull Market Coming Soon 1 Comment 1 Comment Pingback: Mercado Bitcoin: Largest Brazilian Bitcoin Exchange starts massive Employee Firing - Satoshiuncle Leave a Reply Cancel reply Your e-mail address will not be published. Required fields are marked *Comment Name * Email * Website #Exchange Mt Gox: Has the time come when Mt.Gox Creditors will be paid? Published 21 hours ago on March 21, 2019 By Bhaagyasree Kalpit The small cryptocurrency community back then was in shock when the biggest bitcoin exchange Mt Gox (at that time) was hacked and around 850,000 BTC were stolen which were worth around $450 million back then and around $3.4 billion according to today’s price. Years have passed since the incident, however, only a few the victims have received their share and most of them are still waiting for their lost funds. Mt Gox to credit victims? As reported by Nobuaki Kobayashi, the Mt Gox trustee, Mt Gox still has more than 141,000 Bitcoin and 142,000 Bitcoin Cash and the trustee seems to be taking charge to return the following funds to the victims. The victims were super excited to hear this and Twitter seems to be full of tweets claiming that the exchange has finally made its decision of returning the lost funds to the victims. #bitcoin $btc #bitcoincash $bch A decision for civil rehabilitation has been reached for Mt Gox victims. 140,000 bitcoin and 140,000 bitcoin cash will be returned to their respective owners Hope these victims are HODLERS pic.twitter.com/dq5e4ZOtsi — ๑ PANDA ๑ (@PandaofBinance) March 21, 2019 However, it is worth noting that Mt Gox might have more than $631 million worth of Bitcoin and Bitcoin Cash, the number of funds to be compensated are likely much more than this amount. The other documents on the website claim that the victims shall be sent a notification regarding the approval or disapproval of their claims based upon their type of filing (online or email). Nobuaki Kobayashi said that after a few days, the Rehabilitation Trustee of Mt Gox will be announcing the results of the claims filed by the victims. The result will showcase whether or not their claims have been accepted. Missed the deadline? If you are one of the victims and you’ve somehow missed submitting your claim, you can still download the claim form from the Mt Gox website. However, if these claims made after the deadline shall be accepted for refunds will be decided by the court. Is there any timeline for the claims? According to Nobuaki Kobayashi. he will contact the victims soon. So there is no specific timeline as to when the funds will return to the victims. However, it is still great news for the people who have been waiting for over 5 years and they are surely happy about the fact that they will soon be compensated. Cryptocurrency investors are now wondering how will this affect the bitcoin price? What do you think? Tell us in the comments section below. Continue Reading #Exchange Alert: Bancor Hackers move 25433 Ethereum Published 6 days ago on March 16, 2019 By Layla Harding The whole crypto community was in shock when Bancor was hacked on 10th July last year with more than $23 million worth of Ethereum being stolen. Almost eight months after the incident, the hackers have allegedly made transactions from the wallet where the stolen Ethereum were kept. Three days ago, the hackers moved around 25,433 Ethereum to an address which seems to be a mixer service address or an exchange. It cannot be determined yet whether the funds can still be tracked or not. It might be the situation where the hackers are trying to bewilder people so that the funds can be cashed out later from the new address as the older address was already in the view of people and even etherscan displays a cautionary sign above the previous address “Warning! There are reports that this address was used in a (Bancor) hack. Please exercise caution when interacting with this address”. The Bancor Hack: Bancor decentralized exchange was hacked last year where the private key was stolen in an uncertain manner by a hacker that still remains mysterious. Around 25,544 Ethereum, 230 million Pundi X tokens and 3.2 million Bancor Tokens were stolen during the hack. According to Bancor, the hack was due to the compromisation of a wallet that was kept for smart contract upgradation. Continue Reading #Exchange QuadrigaCX mystery takes a shocking turn: Wife reveals CEO used own money to fund user withdrawals Published 1 week ago on March 15, 2019 By Joyce Lang The current situation of the defunct exchange QuadrigaCX is just like a thriller movie as cryptocurrency enthusiasts around the world are curious to know what exactly has happened and what was the exchange up to. It was in the news recently that Ernst & Young, one of the top auditing and law firms in the world had revealed that QuadrigaCX’s cold storage wallets had almost NIL amount of user funds. This was quite shocking for the people who had millions of their investment or trading funds on the exchange as they were not hoping for this. QuadrigaCX: A Shocking Turn The situation gets even worse now as the widowed wife of Gerry Cotton, the dead co-founder, and CEO of QuadrigaCX exchange claims that her husband used to mix his own money with the exchange’s funds in order to fulfill customer withdrawals. According to Gerry’s wife, she does not know exactly how Gerry used to operate his business/exchange, however, he used to tell her that he had to keep transferring his own personal money into Quadriga CX exchange to fund the user withdrawals last year. The statement of the widowed wife came into the picture soon after Ernst & Young revealed that the cold storage wallets of the exchange were nearly empty. A report also claimed that the exchange’s funds (around 600,000 ETH) were stored on different exchanges namely Kraken, Bitfinex, and Poloniex, after being transferred from the cold wallets. The situation got worse long before the death of Gerry Cotton: The situation had got worse long before the death of the CEO of QuadrigaCX, Gerry Cotton. The company was already in huge trouble and also is facing a legal battle with a bank. The CEO had to fund the exchange withdrawals using his own personal savings which may be because the holdings of people were being spent on personal expenses previously or had been lost on gambling or other activities. This is not confirmed and yet to be known. However, the people drew attention to the QuadrigaCX case only after the death of the CEO this year. Is there a Change of Recovery? If the CEO of QuadrigaCX, Gerry Cotton had really transferred the cold wallet funds onto other cryptocurrency exchanges as being reported earlier, and the auditors are able to track these fund’s transactions, there might be a chance for the victims to get their funds recovered, either fully or partially. Continue Reading Advertisement Advertisement Latest Crypto News #Ethereum Price Analysis5 hours ago ETH Price Analysis: Has Ethereum turned bearish? #Exchange21 hours ago Mt Gox: Has the time come when Mt.Gox Creditors will be paid? #Bitcoin24 hours ago Cryptocurrency Price Analysis: Great Week for the top 10 #Ripple Price Analysis1 day ago Ripple Price Analysis: XRP going to fall or rise? #Bitcoin Price Analysis2 days ago Bitcoin Price to $4500 soon? BTC Price Analysis #Bitcoin2 days ago Tom Lee: Bitcoin Bull Market Coming Soon #Bitcoin2 days ago Alert: Bitcoin Breaks Record, Highest Hash Rate Since November 2018. 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