We Have No North Korean Users, - Bittrex

New York regulator have had identify two Bittrex users as North Koreans, but exchange says NYDFS was mistaken
23 April 2019   692

Bittrex Cryptocurrency Exchange this Monday reported that the regulator was wrong when it recognized its two users as North Korean citizens.

Bittrex analyzed two accounts that, according to the New York Department of Financial Services, should not have access to the American trading platform, and concluded that they already came into her field of vision during an investigation in October 2017.

South Korean residents mistakenly selected North Korea in our country dropdown menu, but we determined through country identifictation, physical and IP addresses that ALL were from South Korea.
 

Bittrex Team

Earlier, a representative of the regulator in a conversation with CoinDesk said that during the audit of Bittrex accounts this year, they identified two users from North Korea.

More may exist. At least one North Korean account was active into 2017. [along with two accounts in another sanctioned country, Iran, that were active during this year’s examination].
 

Shirin Emami

Executive deputy superintendent for banking, NYDFS

Access of such users to the exchange was one of the reasons for the refusal of Bittrex to issue a license to serve New Yorkers. The company did not agree with the charges brought against it.

LocalEthereum to be LocalCryptos Now

Exchange's team believes they have advantages over LocalBitcoins, which "looks the same today as it did in 2012"
19 November 2019   116

LocalEthereum's P2P platform changed its name to LocalCryptos to support more cryptocurrencies, starting with bitcoin.

The possibility of buying / selling BTC has already been added, in the near future EOS, DASH and Litecoin (LTC), as well as Ethereum-based tokens are indicated.

According to the statement, the platform has more than 100 thousand users around the world.

With rebranding and the addition of bitcoin trading, the site competes with the popular P2P platform LocalBitcoins, and LocalCryptos believes that they have advantages. They include the non-custodian BTC escrow system and end-to-end message encryption.

Platforms like LocalBitcoins are centralized, custodial, and a far cry from private. These platforms are vulnerable to hacks and thefts like a centralized exchange.
 

LocalCryptos Team

Hackers have stolen several billion dollars from the past, and at least two incidents related to LocalBitcoins traders, the statement said.

LocalCryptos does not store user private keys and declares that it gives them full control over the funds.