Switcheo Network to Launch OTC Platform

As reported, the new non-custodial platform will use the same account in the smart contract as on the exchange
28 February 2019   331

Switcheo decentralized cryptocurrency exchange announced the launch of a public beta test of its own over-the-counter platform starting from March 4th.

The new non-custodial platform will use the same account in the smart contract as on the exchange.

Switcheo OTC leverages on our existing trustless smart contracts on Ethereum and NEO, allowing users to execute peer-to-peer trades with zero counter-party risk and super low fees!

Jack Yeu

Co-founder, Switcheo Network

In addition, during the first month to attract customers, the Switcheo OTC platform will free traders from commissions. In the future, users will be able to use SWTH tokens to get discounts on commissions.

Initially, the set of tokens on Switcheo OTC will be limited, and users will not be able to exchange assets released on different blockchains.

However, in the future, the site intends to add support for all ERC20 and NEP5 tokens, as well as the function of atomic swaps.

Hacked Zaif Exchange to Resume Operations

It was hacked in September last year,  about $60 million in cryptocurrency was stolen from its platform
22 April 2019   88

Japanese cryptocurrency exchange Zaif announced that it will complete the transition from the Tech Bureau to the Fisco Digital Asset Group (FDAG) on April 22 and resume normal operation the next day, Cointelegraph reportes.

In September last year, the exchange underwent a hacker attack when about $ 60 million in cryptocurrency was stolen from its platform, including Bitcoins, Bitcoin Cash and Monacoin. As part of the compensation plan to users, FDAG exchange acquired a large stake in Zaif business and transferred to the Tech Bureau over $ 44.6 million.

According to an earlier announcement of the exchange, 40% of the lost funds will be compensated to users by Fiat, and the remaining 60% - to the cryptocurrency, which will be available for withdrawal on April 23.