Coinnest to Send $5.3M to Its Customers

Users got BTC and fiat instead of WGT during airdrop; it let to local BTC price fall to $50
22 January 2019   411

Coinnest, exchange based in South Korea, asked its users to return more than $ 5 million, which they had mistakenly sent to their wallets. It is reported by CoinDesk.

Last week, Coinnest reported that due to the “error”, it sent its customers 6 billion won ($ 5.3 million) in bitcoins and other cryptocurrencies. The incident occurred during an attempt to hold an Weir Token airdrop (WGT).

Moreover, technical problems on the server allowed some customers of the exchange to receive translations in Fiat.

The problems were fixed on January 19, and now Coinnest asks customers to return the funds credited to them by mistake. But, if at least half of the amount was faithfully returned, some of the clients, having received bitcoins instead of WGT, immediately sold the resulting cryptocurrency. As a result, there was a so-called flash-crash of BTC price on a single exchange - at some point the price collapsed to $ 50.

In September 2018, Coinnest executives were charged with receiving a bribe for assisting in the listing of the S-coin token.

Currently, the withdrawal of funds from Coinnest is stopped. According to CoinMarketCap, over the past 24 hours, the exchange has conducted deals of only $ 11K.

Binance DEX to Launch Trading

Mithril is the first asset, that is trading on new platform; also, the exchange presented the listing rules for assets
25 April 2019   83

Binance DEX announced the start of trading in the Mithril token (MITH) together with Binance Coin (BNB). This is the first asset in the listing site.

At the same time, the exchange presented the listing rules for assets. So, anyone can release a token on the Binance Chain, but listing it to the marketplace takes place in several stages.

First of all, the issuer must place a listing application on the Binance Chain community forum, providing answers to a number of questions relating to the innovativeness of the project, its scope and other characteristics.

After that, the issuer must make a deposit in the amount of 1,000 BNB within two days, which will be returned later. Note that the listing of an asset on Binance DEX must be approved by at least half of the validators.