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Thailand approves another Cryptocurrency Exchange, Willing to get own wallet.



The Thailand Securities and Exchange Commission has affirmed another crypto exchange to legally work in the nation making it the 6th legal crypto exchange.

The Thailand Securities and Exchange Commission has affirmed another crypto exchange to legally work in the nation. There are presently six exchanges that have been conceded endorsement. In the mean time, the government is thinking about keeping up its own wallet with a specific end goal to seize cryptocurrencies from unlawful sources.


Another Crypto Exchange Affirmed

The Thailand Securities and Exchange Commission (SEC), Thailand’s principle crypto regulator, declared on Thursday, September 6, that another cryptocurrency firm has been endorsed to legally work in the nation.

Southeast Asia Digital Exchange Co. Ltd. (Seadex) has turned into the 6th legitimate crypto exchange in Thailand. Subsequent to looking into Seadex’s data and reasoning that the business existed before May 14 when the control produced results, the SEC conceded endorsement to the exchange.

The regulator permits crypto firms that were in business before the requirement of the crypto control to keep working while their applications are being audited, giving that they connected to endorsement before August 14.

A month ago, the regulator affirmed seven crypto firms, five of which were crypto exchanges.

Thailand Government Needs Its Own Crypto Wallet

Thailand Government Affirms Crypto Exchange, Needs Claim WalletTo battle crypto-related wrongdoing that is on the ascent, the Thailand government’s Enemy of Illegal tax avoidance Office (Amlo) is thinking about keeping up its own particular cryptocurrency wallet, the Country revealed for the current week.

Mr. Witthaya Neetitham, Secretary of Amlo, said at a course on cryptocurrency wrongdoing and the legitimate framework that authorities are talking about how to get and protect a wallet for Amlo “to hold or take digital money from unlawful sources.”

The publication clarified that there is presently “no law enabling the office to solidify or seize digital money, nor anyplace to keep it… therefore, Thailand experts can imprison or remove cybercriminals and reallocate their physical resources – however they can’t touch their digital assets.”

Refering to that prior this year the Innovation Wrongdoing Concealment Division of the Imperial Thailand Police and their Dutch partners captured a Moldovan associated with working a youngster porn site, Police Commander Ekkanit Natethong uncovered:

We discovered bitcoin in his e-wallet, yet needed to abandon it there in light of the fact that we don’t have any directions [to seize the crypto].

ID Difficulties in the Digital Age

Seven cryptocurrencies have been authorized in Thailand. Neetitham claims that “Amlo has measures to battle wrongdoings including [the] digital monetary standards authorized by the [Thailand] Securities and Exchange Commission.”

Regardless, he said “it was as yet hard to deal with cryptocurrency administrators who are outside the framework,” the news outlet passed on and cited him saying:

We can’t distinguish the cryptocurrency administrator or collectors when hoodwinked casualties exchange cash to the offenders.

Chartpong Chirabandhu, deputy director general of the Workplace of the Lawyer General’s Division of Extraordinary Prosecution, remarked that “a major issue with digital resources and other such confirmation is the trouble in finding the character of those executing.” He portrayed, “When we present the proof to [the] court, it regularly neglects to persuade the judges.”


Mt Gox: Has the time come when Mt.Gox Creditors will be paid?



As reported by the Mt Gox trustee, They still have 141,000 BTC and 142,000 BCH and the trustee seems to be taking charge to return the funds to the victims.

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.

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.

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Alert: Bancor Hackers move 25433 Ethereum



Three days ago, Bancor Exchange hackers moved around 25,433 Ethereum to an address which seems to be a mixer service address or an exchange.

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.

bancor hack address

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.

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QuadrigaCX mystery takes a shocking turn: Wife reveals CEO used own money to fund user withdrawals



Widowed wife of Gerry Cotton, the dead CEO of QuadrigaCX exchange claims that her husband used to mix his own money with the exchange's funds.

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.

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