Cryptopia to Provide New Info Regarding Compensations

The exchange isn't going to refund deposits, sent more than 24 hours after the security breach
25 March 2019   889

The New Zealand cryptocurrency exchange Cryptopia provided additional information regarding the procedure for paying compensation to users who suffered from a hacker attack in January.

According to today's announcement, users who have made deposits to their addresses more than 24 hours after the company reported the incident, that is, after 16/01/2019 12:00AM NZT , will not be able to claim payment in accordance with the previously announced plan.

The Exchange also draws attention to the fact that it currently does not have a specific deadline for returning assets to users to whom such payments are due. Cryptopia addresses are still not available for deposits, so users shouldn't try to transfer funds to them until further notice. After the renewal of deposits, clients of the exchange will need to regenerate the purse addresses for each of the supported cryptocurrencies.

As analysts noted, the funds withdrawal continued even after the official announcement and the start of a police investigation.

Bitfinex to Introduce Sub-Account Feature

This system was launched after users' requests and it gives them an ability to experiment with several trading strategies simultaneously
21 January 2020   102

The Bitfinex cryptocurrency exchange has announced a new feature that allows users to create multiple sub-accounts under one master account.

As the technical director of the company Paolo Ardoino noted, the introduction of this option occurred almost at an ideal time, taking into account the growing interest in cryptocurrencies from institutional investors.

The Bitfinex blog says that the sub-account system has been introduced at the request of many users.

According to the proposed scheme, users will be able to experiment with several trading strategies at the same time, while Bitfinex will use the combined trading volume for all related accounts, offering general discounts on commission according to the structure of calculating commissions.

If the user account is verified, the client can choose which sub-account will use this data, giving it all the relevant advantages. In addition, each sub-account can be verified individually.

Users will also be able to send funds from the master account to the wallets of their chosen sub-account.

When creating a sub-account, it is tied to the main user account, which will continue to act as a master account. Only the master account has the authority to create sub-accounts (up to 100), it is also endowed with a number of other functions, including changing the viewing mode, changing e-mail, etc.