Pure Bit to Refund Investors' Money

Another cryptocurrency scam storu may have happy ending
15 November 2018   380

The founders of the South Korean exchange Pure Bit, who were suspected of stealing investors' money, announced the return of funds.

According to the local edition of BlockchainROK, representatives of the exchange have already partially returned the money to some users and pledged to return all other funds.

On November 4, the exchange team launched the ICO with the goal of collecting about $ 30 million to create a crypto exchange. However, on November 9, Pure Bit closed the site, said goodbye to its investors and removed everyone from the group in the KakaoTalk messenger. Also, the founders of the exchange withdrew funds from the account that was used for ICO.

According to CCN, one of the issues traced the Ethereum address of the exchange and asked Upbit to block the account and freeze the funds. Upbit fulfilled this request.

This is Pure Bit. First off, I would like to apologize to everyone that was affected by the ICO. Since November 5, I raked in 16,000 ETH and did not open a crypto exchange as promised. I kicked out everyone in our social media chat groups and disappeared without any message. I negatively affected investors in the project psychologically and financially. I made an unforgivable mistake that cannot be turned around, blinded by money. It has been less than a day and I have already started to suffer from guilt. Although it cannot be compared with the hardship faced by the investors, I also felt significant guilt. I sincerely apologize to all of the investors in the ICO who were affected by the operation.

CEO of Pure Bit

The founder of Pure Bit also notified that he would return ETH 16,000 to depositors without taking into account the payment of services to a third-party company that organized ICO. 

Tokeninsight to Study Best Crypto Exchanges

The first place in the ranking was assigned to the Binance exchange
10 December 2018   103

Analytical agency Tokeninsight presented an updated quarterly rating of Bitcoin exchanges, which reviewed their progress over the past three months in difficult market conditions and identified the best trading platforms to date. This is reported by Bitcoin.com.

The exchanges were evaluated on such indicators as trading volumes, security and compliance with legal requirements.

According to the study, the first place in the ranking was assigned to the Binance exchange. It is followed by Coinbase Pro, Huobi, Bitfinex and bitFlyer. The sixth place was taken by the Bitstamp exchange, the seventh - KuCoin.

Analysts say that over the last quarter, the number of visitors decreased in almost all sites, with the exception of Bithumb. The South Korean exchange, whose traffic and cumulative rating increased, nevertheless, was only in 12th place in the ranking.

OKEx's ranking in 8th place was lowered, in particular due to the fact that the exchange “has repeatedly unilaterally changed its trading rules during our rating period, including data rollbacks and modifying its contract delivery rules”

In the case of the BCH hard fork, Okex delivered the last transaction price of BCH contract ahead of schedule at 16:05 p.m. on November 14, 2018 (GMT+8), and issued an announcement only one hour in advance, causing unnecessary losses to a large number of investors.

Tokensight Report

Hitbtc, Kraken and Kucoin exchanges were raised on the contrary, while Poloniex and Gemini were among the seven platforms that hit the report for the first time. Some exchanges, such as the Hong Kong Fcoin, received low marks due to questionable operations involving fictitious trading and pumping volumes.