Crypto Exchange White Label Service launched by OKEx

OKEx, one of the biggest exchanges in the world, has declared the run of a crypto exchange creation programme ‘Digital Asset Exchange Open Partnership Program’
20 June 2018   891

The announcement claims that the programme is intended to “nurture a new generation of digital asset exchanges”. To establish a new crypto exchange, interested parties have to provide OKEx with a domain name, logo, and specialties of the management team. They are assured to possess “solid industry experience, quest for service excellence, and strong industry influence.”

Applicants should also deposit 500,000 OKB tokens into their accounts. This equals around $2.5 million at the present rate, according to coincodex.com. OKB is a utility token that were first sold in March of this year in packages of up to 100, each costing $100. They can be applied to settle transaction fees on the exchange and traded for Bitcoin, Ethereum and Tether.

The applicants will get access to OKEx’s fitting system (which links up buy and sell orders), cold and hot wallets (offline and online cryptocurrency storage), clearing system (which handles money transfer), client support system, and know-your-customer and anti-laundering systems. They will also get support from the OKEx technical team.

100 places are suggested by the programme in its first phase. It is anticipated to start in July. The announcement also points out the setup that the new exchanges must have. They will develop their own native tokens, and distribute them as follows:

  • 25 percent to themselves;
  • 24 percent to OKB holders;
  • and 51 percent to be mined.

OKEx explains the mechanisms by which the tokens will be mined/released. The term white label was firstly invented in the music industry - a white label vinyl record was a release so new that it had not yet been labelled, a much sought-after thing. Presently it cites to a service or product manufactured by one company and sold to another for re-sale under a different brand name. 

G Suite & Target Twitter Accounts Hacked

Scammers hacked verified G Suite and Target Twitter account to use it for another fake "crypto giveaway"; 5.8634 bitcoins received
14 November 2018   112

Twitter accounts of one of the leaders in US retail Target and Google G Suite services were hacked by unknown, who immediately announced the free giveaway of bitcoins. The legitimate owners returned access to their pages quickly enough, but fraudsters still managed to get about $ 30,000.

After hacking the account G Suite, which has more than 800k subscribers, announced the distribution of 10 000 BTC. As reported by The Next Web, this post was deleted after 10 minutes. At the moment, Google has not commented on the situation.

Scammers message
Scammers message

Account Target, which has a little less than 2M subscribers, announced the distribution of 5 000 BTC.

Representatives Target confirmed hack of account, starting an investigation into the circumstances of the incident.

Early this morning, our Twitter account was inappropriately accessed. The access lasted for approx. half an hour & one fake tweet was posted during that time about a bitcoin scam. We have regained control of the account, are in close contact with Twitter & are investigating now.

As exploers show, there were no transfers to the of hackers of the G Suite account. However, with the help of a post on the Target page, attackers were able to get 5.8634 bitcoins.