CoinMarketCap to Fight Fake Volumes

CMC starts to track traffic from cryptocurrency exchange sites, cold and hot wallet balances, as well as liquidity indicators
26 March 2019   273

The popular analytical resource CoinMarketCap (CMC) has confirmed that the information on fake trading volumes on cryptocurrency exchanges is true. The site intends to introduce new metrics to combat inaccurate data.

Now CMC will track traffic from cryptocurrency exchange sites, cold and hot wallet balances, as well as liquidity indicators. Thus, users will be able to assess the ratio of trading volumes and actual liquidity themselves, and draw their own conclusions.

CMC also urged users to make suggestions for improving the site.

Last week Bitwise Asset Management sent a report to the Securities and Exchange Commission of the United States (SEC) about the falsification of trading volumes by unregulated cryptocurrency exchanges. Bitwise analysts have concluded that 95% of the indicators do not correspond to reality.

Hacked Zaif Exchange to Resume Operations

It was hacked in September last year,  about $60 million in cryptocurrency was stolen from its platform
22 April 2019   83

Japanese cryptocurrency exchange Zaif announced that it will complete the transition from the Tech Bureau to the Fisco Digital Asset Group (FDAG) on April 22 and resume normal operation the next day, Cointelegraph reportes.

In September last year, the exchange underwent a hacker attack when about $ 60 million in cryptocurrency was stolen from its platform, including Bitcoins, Bitcoin Cash and Monacoin. As part of the compensation plan to users, FDAG exchange acquired a large stake in Zaif business and transferred to the Tech Bureau over $ 44.6 million.

According to an earlier announcement of the exchange, 40% of the lost funds will be compensated to users by Fiat, and the remaining 60% - to the cryptocurrency, which will be available for withdrawal on April 23.