Bitkoex to Report on Users' Data Leak

Another South Korean cryptocurrency exchange faced problems
26 June 2018   908

Bitkoex South Korean cryptoexchange, which was launched last month, reported on a leak of data of 19 Karma (KRM) tokens holders.

As Coindesk notes, the incident put at risk funds for a total of 750 million won ($ 620,000). Data contained email addresses of users of the trading platform, wallet addresses and private keys.

The problem arose because of the negligence of one of the employees of the recently opened trading floor. As it turned out, he published in the group chat of Kakao data on investments to Karma tokens, with the email addresses of the users of the trading platform and associated wallets, even with the relevant private keys.

Representatives of Bitkoex assured their clients that the actions were committed inadvertently. According to them, the funds that were compromised were immediately transferred to cold wallets, and therefore are in complete safety.

Last week largest South Korean exchange Bithumb was hacked. This event caused a significant response in the society and caused even greater tightening of the crypto regulation in the country.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   137

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.