Foxbit Exchange to be Offline Until March 26

At first, Foxbit reported that it should be back online by March 14, but now the exchange changed the date stating that the platform will be offline until March 26
19 March 2018   505

The headlines were recently hit by the news regarding Foxbit, Brazilin cryptocurrency exchange, which went down after the bug which allowed its users to withdraw their BTC balances twice. The total loss was estimated at 30 Bitcoins. 

The company founders held a livestream on March 13, stating that the users's funds are protected, and that they have a special fund to cover possible losses and the funds in Portugese national currency are safe in bank accounts. They stated that the platform was neither hacked nor robbed.

At first, Foxbit reported that it should be back online by March 14, but now the exchange changed the date stating that the platform will be offline until March 26.

The platform will come back, but it is not in our interest to hold any user’s balance, be it in real or bitcoin. It is a solvent company and there is no problem if all users make withdrawals.
 

Foxbit Founders

The representatives of Foxbit exchange recommended its users not use the exchange as a wallet, and to store funds in their own separate cryptocurrency wallets in order to avoid loss of funds.

Line to Launch Bibox Exchange in Singapore

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem
16 July 2018   153

One of the most popular messengers in Asia Line has launched a Bitbox exchange in Singapore. Trading on the platform started this morning and is limited to pairs with crypto-currencies, Cryptovest reports.

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem.

BITBOX is only for trading cryptocurrencies (Digital Tokens). Fiat currencies (USD, KRW, etc.) cannot be exchanged on BITBOX.
 

Bitbox Website

Bitbox charges a 0.1% commission and supports 15 languages, including English, Korean, Chinese, Spanish, French and German. In Russia, the US, Japan and some other countries, the exchange is not available.

At the beginning of the year, Line Group applied for a license to the Japan Financial Services Agency, but the process dragged on because of tightening of the regulator's requirements in the light Coincheck exchange hack. All crypto exchange, wishing to provide services in the Japanese market, are required to obtain permission from the local regulator.

Currently, Line is also in the process of obtaining a license in the US. The company decided to open its first trading platform for crypto-currencies in Singapore, as this city-state adheres to a progressive approach to the regulation of the digital currency sphere.

With cryptocurrency, we are going to take our challenge in financial services global.
 

Takeshi Idezawa

CEO, Line

In May, Line Group denied rumors that it intends to release its own token and distribute it through the ICO. Every month Line is used by about 200 million people. The messenger is extremely popular in Japan, South Korea and Thailand.