OKEx adds CSTs for Bitcoin Core and Segwit2x

OKEx exchange adds Chain Split Tokens for Bitcoin Core and Segwit2x, following the footsteps of Bitfinex
17 October 2017   565

The OKEx international platform, which is the part of the largest Chinese exchange OKCoin, clarifies its attitude towards the upcoming Bitcoin hardfork. 

Thus, the company speculates that is a chance that Bitcoin will experience yet another a hardfork this year.  Accroding to the exchange, if this is the case, then the fork is expected to occur on block 494784

As detailed by the team, OKEx will follow the protocol below (more details are on the OKEx website):

  • OKEx will support both withdrawal and trading of all split chain tokens from this hardfork, the users will have full control on their digital assets.
  • The spilt token supporting Segwit2x will be named as BT2, the token derived from the original chain will be named as BT1. If the hardfork occurs then BT1 will be renamed as BTC. 
  • From October 17th 2017 whether the hardfork occurs or not, OKex will support the conversion between BTC and BT1 & BT2. One BTC can be converted to one BT1 & one BT2 and vice versa. At the same time, BT1/BTC and BT2/BTC spot trades will also be live. 
  • If hardfork doesn’t occur, OKEx will cease the trading of BT1/BTC and BT2/BTC. The value of BT2 will turn to zero and users can convert their BT1 to BTC at a ratio of 1:1. 

It is worth mentioning, that one of the leading cryptourrency exchanges, Bitfinex, also issues tokens for Bitcoin Core and Segwit2x (BT1 and BT2).

First real-life cryptocurrency robbery reported in Taiwan

Four men stole 5 million Taiwanese dollar worth of Bitcoin, the police has already arrested the suspects
22 February 2018   53

Bitcoin has attracted lots of unwanted attention from hackers and scammers alike. Recently not a week passes without news of an exchange or user being hacked or some company's computers being hijacked to mine cryptocurrency. And now Taiwanese news outlets report first real-life robbery of Bitcoin in their country.

The robbery took place in Taichung, Taiwan's central city. The police reports three men being involved in the robbery itself and one as a planner. Criminals persuaded the victim to meet with them face-to-face under the guise of being interested in buying Bitcoin from him. After the victim showed the robbers the proof of his bitcoins on his phone, the men attacked him and his friend and transferred 18 bitcoins worth 5 million Taiwanese dollar via the phone wallet.

The suspects then forced the unfortunate seller to drink strong local liquor to make everything look like a drunken fight had taken place. The police arrived at the scene after receiving the reports of a fight and found two victims. Two of the offenders had fled, but the third has been arrested at the scene of the crime. He later provided investigation with information about his accomplices. They were arrested soon after.

The police later apprehended the man believed to be the mastermind behind the plan. All this was released in the yesterday's report by the Taiwanese law enforcement and the case is already viewed as “the first domestic case of bitcoin robbery”. The report doesn't mention if the crypto was returned to the rightful owner.

Similar cases has been rumored to happen in the US, but no records are released as of yet. So the unofficial governmental advice is to be more cautious of the buyers requesting face to face meetings in the light of this event.