OKEx and Huobi-Pro P2P trade launch

While Huobi issues a farewell to Bitcoin industry, rumors about p2p Bitcoin trading with support for fiat currencies (and the yuan) are spreading confidently
30 October 2017   1749

Chinese Bitcoin exchange Huobi issues a farewell to the industry as its shut down is planned for this Tuesday.

According to the exchange, Huobi China will "exercise full cessation of all digital assets against the yuan's trading business from 24:00, GMT+8" on October 31. Leon Li, the Founder of Huobi, claims that it would reimagine itself as an “integrated information and research service provider in the vertical field of Blockchain” dedicated to the Chinese market.

I believe that this is not only a milestone for Huobi but also a watershed in the history of Chinese digital assets and even a memorable day in the development of global digital assets.
 

Leon Li
Founder of Huobi

Still, there's a glimmer of hope.

According to local news feed on Twitter, the two umbrella exchanges, OKEx and Huobi-Pro, are “soon to launch” p2p Bitcoin trading with support for fiat currencies including the yuan.

While both OKEx and Huobi-Pro are international non-China based operations not subject to the domestic ban, the source speculates that through undisclosed mechanisms both could ultimately give access to Chinese traders.

In fact, OKEx itself somehow implies that "a New Era" is coming while announcing its future plans after the October 31 shutdown deadline.

We have nothing more to do but to wait, while the Chinese market situation is becoming more and more interesting. We'll keep you updated! 

Users Suspected RusGas of Scam

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol
07 December 2018   97

The RusGas cryptocurrency project (RGS) demonstrates disturbing signs and releases new tokens in excess of the pre-set emission limit, Cryptovest reports. With an aggregate capitalization of $ 117, RGS trading volume for the last few days is $ 35,000. Events unfold against the backdrop of promises made by the project organizers about the upcoming restart.

Most of the RGS trade is focused on the Crex24 exchange, which has a daily  of $ 700,000. RusGas had a daily volume of several million dollars in its best days, which already then caused questions about the authenticity of this value.

According to CoinMarketCap, RGS emissions are limited to 10 billion tokens, but Etherscan indicates that currently 298 addresses contain 860 billion RGS. The rapid growth of emissions was recorded in recent days and hours. The largest wallet contains 99% of all tokens, which is probably the crex24 wallet. The developers themselves explain these movements to the next restart.

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol(PRL), when the additional issue feature was used in a smart contract.

The likelihood of such an outcome is a characteristic feature of projects based on the Ethereum protocol, which allows additional emission of tokens through a smart contract at the discretion of its owner, not to mention other vulnerabilities that cost investors a lot of money.

RusGas is based on the idea of ​​using tokens and blockchains to optimize the Russian gas industry. Despite the dubiousness of the project’s mission, the data on the network indicates that in April of this year he managed to raise $ 2.2 million for ICO.