New crypto exchange Coinbit to open in Korea

Coinbit, a new Korean exchange, will open on March 11, 2018, promises a month of zero-fee trading for the customers
10 May 2018   1024

Despite attempts to find alternative means of cryptocurrency trading, exchanges are still essential for the cryptocurrency ecosystem. And new exchanges are cropping up all over the world despite regulatory hurdles they have to face to open up.

Tomorrow, March 11, 2018, the new exchange Coinbit opens its doors for the customers. The new Korean exchange starts trading and customers have a pick of 50 most traded digital assets, including not only mainstream Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Ethereum Classic, but also prominent tokens such as Ripple, NXT and Ardor, for example.

Upon launch, Coinbit offers customers a month of zero-fee trading as an incentive to encourage trading on the new platform, and after that they offer fees of 0.05%. The only downside is that right now the majority of the platform is in Korean language with no translation to other languages, which can discourage Western investors from using it, until the translation arrives.

Korean exchange market is an important part of cryptocurrency ecosystem. A lot of local developments have hugely impacted the worldwide crypto market. We'll have to wait and see, if the Coinbit will have a significant influence as it grows.

China to Finance Hacker Attacks on Exchanges, - FireEye

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period
08 August 2019   344

The hacker group APT41 attacks companies in the areas of healthcare, telecommunications, fintech, media, and cryptocurrency exchanges. This activity is funded by the Chinese government, according to analysts of cybersecurity company FireEye.

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period.

Industries Targeted by APT41
Industries Targeted by APT41

At the same time, APT41 pursues its own goals, extracting financial benefits from attacks, which is unusual for other groups under the Chinese government, according to FireEye.

APT41 is known to include at least two people with the pseudonyms Chzan Xuiguan and Wolfji. The group probably has connections with other hacker organizations like BARIUM and Winnti.

FireEye also evaluated at what time of the day the APT41 attacked the gaming industry (its core target) and businesses from other areas. It turned out that this was happening outside the framework of a standard working day - probably these people, among other things, have the main job.

APT41 Operational Times
APT41 Operational Times

According to the UN Security Council, hackers under the DPRK government stole about $ 2 billion from banking institutions and cryptocurrency exchanges.