Chinese Bitcoin exchange OKEx has reportedly been hacked for a sum of 3 million USD, while Chinese police have refused to investigate the matter. Also , the Chinese market saw a sharp decline in volumes. OKEx has a strong security system, but it requires users to turn on and enable some services. Change password regularly and try to avoid using the old passwords. This represents 10-15 of the total bitcoin trading volume across the globe resulting China to be one of the biggest cryptocurrency markets in the world. Until 2005, the value of the renminbi was pegged to the US dollar. Do not use the same password for different websites. After three silent years, multiple bitcoin exchanges in China had to pause their bitcoin withdrawal service in the beginning of 2017. The transactions were settled in USD and all conversion had to go through the Peoples Bank of China. You will get a six-digit verification code.
17 Exchanges to Buy Bitcoin in China (2019)
At the same time, a few other users reported similar attacks. Heres an unfortunate case of being on the wrong exchange chinese bitcoin exchange at the wrong time: A series of reports have emerged that Chinese Bitcoin exchange OKEx has been hacked for the sum of six hundred Bitcoins (approximately 3 million USD). The news leaves affected Bitcoin traders out in the cold, who have been directed to add security checks such as two-factor authentication to their accounts immediately to avoid further issues. Last week, OKCoin and Huobi had to make the same decision, a few days later on the same path walked chbtc. Both of these two bitcoin exchanges are in the top 10 global platforms offering bitcoin trading in terms of trading volume. Fill in code in OKEx to finish setting.
OKEx belongs to, oKCoin, which is a major, chinese Bitcoin trading platform founded in 2013. All victims have lost about six hundred Bitcoins in total, worth over 20 mln yuan (about three mln dollars). The, exchange was forced to take this step under pressure from the People's Bank of China; it had previously issued a warning for cryptocurrency companies on the need to comply the regulator anti-money laundering norms. Based on the current situation, OKEx has made an announcement. China was one of the earliest markets discovering the benefits of bitcoin trading.
Chinese Bitcoin Exchange Executives Allegedly
Follow, bryan Smith on Twitter: @bryansmithSA, start trading cryptocurrency with Coindirect. The announcements claimed that anti-money laundering processes had to be updated because of the order of pboc. Several reasons might cause unusual login activities: Password is inappropriately kept or is too simple; Personal computer is infected with the virus, or the account is logged in on public computers; The user uses the same password on different. The government tried to resist the technology for a couple of years, prohibiting the operation of exchanges with strict regulations in the past years. Be sure to let us know your opinion in the comments below! The CNY/BTC daily trading volume is about 18k-20k BTC per day. How can traders best secure their accounts and trading activities in the view of an uncertain outlook on cryptocurrency exchanges?
Best CNY / Bitcoin Exchanges
Up until 2010, it was not as easy to obtain CNY as a foreigner, as before 20, the Chinese renminbi had little to no exposure in the international markets because of strict government controls by the central Chinese government. OKCoin, based in Beijing is currently the biggest trading platform for Chinese users, which was founded by Star Xu an experienced technology executive. As of now, it is legal for private parties can hold and trade bitcoins in China, however, the regulation prohibits chinese bitcoin exchange financial firms like banks from doing the same. So, few days ago exchange. The regulation has been stricter and stricter in the country year by year to hold or trade bitcoins. It is not excluded that, if all the necessary work to be completed before the 30-day period, withdrawals could be activated earlier. Such behavior has resulted in a loss of 200 Bitcoins, which worth more than five mln yuan (about 750,000 dollars). Last week, OKCoin and Huobi's news led to a sharp decline, but currently traders retain absolute calmness. Thus, so currently all clients of the "Big Three" Chinese cryptocurrency exchanges have any possibility to withdraw their funds.
Read: Bitcoin Gold: Another Bitcoin hard fork may come this October. CNY/BTC Country Specific Regulation: Bitcoin in China. Later that month, another ban was issued on bitcoin exchanges which prohibited them to use third-party payment processors for doing their businesses. Other users have now joined their voices in chorus to note similar attacks, which are estimated to have resulted in the loss of some six hundred Bitcoins in total. Download and install the latest antivirus software to avoid personal computers being infected with the virus.
Major Chinese bitcoin exchanges halt withdrawals
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What Will Happen When Major Chinese Bitcoin
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