Coinrail to Unveil Own Restart Plan

As reported, Coinrail is going to resume service around 15th of July
20 June 2018   1064

Recently hacked South Korean crypto exchange Coinrail presented a plan to restore the platform, reports.

According to the representatives of the platform, at present the company is in the process of restructuring, and service will be resumed before July 15.

Coinrail will resume service before July 15 if it is determined that the service is ready to resume…We are constantly preparing a number of measures to recover the damaged coins and we will be reporting progress on the restoration measure at the end of June.


Coinrail noteв that the implementation of the recovery plan will be implemented with the assistance of "various stakeholders, including coin developers."

At the same time, the publication notes that many clients of the exchange doubt that this South Korean exchange will resume its work by the specified date. Another interesting fact that about a week before the hacker attack, the administration of the trading platform removed from the Terms of Service points relating to the compensation of users' funds in the event of hacking.

On the day of the breaking of the Coinrail exchange, a sharp decrease in the price of bitcoin was observed. Then hackers stole more than 40 billion won from the accounts of the exchange (about $ 37.28 million). In addition, $ 13.8 million was stolen in the Aston (ATX) project tokens, $ 5.8 million in Dent (DENT) tokens and $ 1.1 million in Tron (TRX) tokens, as well as smaller amounts in other tokens.

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   122

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.