OKCoin refuses the use of idle client funds

OKCoin makes an announcement about its policy regarding properly safeguarding idle client funds
28 August 2017   1138

About a week ago, it was reported that two of China’s ‘three exchanges’, Huobi and OKCoin, have reportedly dipped into 1 billion yuan ($150 million) of idle users’ funds to invest into risky, high-yielding financial products.

Now, OKCoin, an exchange platform occupying the sixth position in the list of all digital currency exchanges on coinhills.com, dismisses such claims.

Recently there have been rumors and false allegations regarding OKCoin, and its affiliates, in their use of idle client funds. We would like to assure all parties, and especially our customers, that we have a strict policy of placing idle client funds into bank-backed low risk products for safe-keeping.

OKCoin team

The company continues arguing that they consider the safety and integrity of the client funds as their "most important responsibility". Thus, OKCoin refutes any claims to the contrary as false.

It's also noteworthy, that at the time of writing, Huobi has not issued an official statement about the allegations of diversion of customer funds. 

Change.org to Mine for Charity

According to the calculations, if 10k computers will run the minning screensaver for 12 hours a day, the charity fund will receive $10k monthly
18 July 2018   99

Social platform for petitions Change.org announced the launch of a screensaver that mines Monero on users' computers. All tokens will be transferred to the charity fund of Change.org. This is reported by Coindesk.

This initiative was launched in partnership with the marketing agency Tracelocke Brazil.

Representatives of Change.org report that the screensaver will consume resources only when users do not use the computer. According to their calculations, if 10 thousand computers will run the screensaver for 12 hours a day, the charity fund will be transferred $ 10 thousand monthly.

At the moment the program is available only for Windows users and the platform did not report on the release plans for the version for macOS.

Note that at the end of April, a similar action was launched by the Australian unit of the United Nations International Children's Emergency Fund; (UNICEF). The website "Page of Hope" mines Monero cryptocurrency.