OKEx exchange still cannot name the timeframe for the withdrawal

OKEx exchange still cannot name the timeframe for the withdrawal of client assets

Users of the OKEx exchange, which suddenly stopped withdrawing funds on Friday, remain in the dark as to when they will be able to receive their cryptocurrency.

In a new statement, the exchange assured them that the assets remain safe: “We would like to assure our users that the security of their funds on OKEx has not been affected. In addition, all other operations on OKEx are functioning normally. "

The company also denied information that large amounts of bitcoin left its wallets after the onset of problems, stating that the given addresses do not belong to it. The same seems to apply to the message that two transactions for 997 and 998 BTC were sent from Huobi to OKEx. According to CryptoQuant, at least one of them was received by the Binance exchange.

OKEx previously claimed it would resume withdrawals "as soon as the private key holder is able to authorize the transaction." The latest message states that withdrawal will resume "as soon as we consider that all safety requirements have been met." What exactly are these requirements, the exchange refuses to specify, citing the threat to users' assets due to the spread of such information.

Meanwhile, analyst firm Glassnode points to a sharp increase in the outflow of funds from OKEx ahead of yesterday's suspension of operations. The company calculated that 10,000 BTC, or $ 113 million, left the exchange in two batches in 48 hours.

Coinbase Receives Over 1,900 Law Enforcement Requests In First Half Of 2020

According to a report from Coinbase, from January 1 to June 30, 2020, the exchange received 1,914 requests from law enforcement agencies. 1,113 requests came from the US, 441 from the UK and 176 from Germany, with a small proportion of requests coming from other European countries.

The most "demanding" body turned out to be the Federal Bureau of Investigation - it received 30.5% of requests for the transfer of information about the exchange clients. The Department of Homeland Security (HSI) accounts for 16.5% of inquiries, the number of inquiries from the local police is 16.2%, from the US Drug Enforcement Administration (DEA) - 9.3%, and from the IRS - 8.8%.

Binance Opens Peer-to-Peer Cryptocurrency Exchange for Cash

Cryptocurrency exchange Binance today announced the addition of the ability to exchange cryptocurrencies in person for transactions on its peer-to-peer platform.

“This allows users to directly buy and sell cryptocurrency through their chosen offer, and then transfer or receive cash offline in person,” the exchange explains.

The opportunity to create such offers is provided only to qualified merchants. Bitcoin, Ethereum, USDT, BNB, BUSD and EOS are supported for exchange. When creating an offer, the trader must select the appropriate payment method and indicate the desired price.

Separately, Binance published a guide that outlined recommendations for the safe exchange of cryptocurrencies for cash. The exchange notes that a personal meeting with another party to the transaction involves certain risks for which it is not responsible. Among other things, she urges not to use third-party messengers for communication and to carefully recount money before confirming the transaction.

“Don't agree to meet in a dubious place, far from the city center. The meeting place must be agreed in advance and confirmed by both participants, ”the exchange writes.

At the time of publication on the Binance P2P platform, there are already several ads from merchants who want to buy USDT, BTC and ETH from users for rubles. Nobody is ready to sell cryptocurrency yet.

DeFi Yield Protocol Launched on Ethereum Mainnet

At the moment, the Yield Protocol remains in beta status, but the developers emphasize that the project is fully operational and functional. According to the founder of the startup Allan Niemerg (Allan Niemerg), the popular lending projects Maker and Compound offer floating rates on loans. Fixed rates are more convenient because it is much easier and more convenient for users to plan future actions, income and expenses.

According to Niemerg, as part of the development of the Yield Protocol, a "new base DeFi primitive" fyDai (fixed yield Dai) was created. These are tokens of the ERC-20 standard, which have become an analogue of zero-coupon bonds from the field of traditional finance. Such bonds do not pay interest, but you can buy them cheaper before maturity. FyDai tokens enable fixed rate lending in the DeFi industry.

Users can already invest their Dai coins in an “automatic liquidity provider” and make a profit. In addition, users have access to loans at a fixed rate, secured in ETH. The Yield Protocol is expected to exit beta testing in early November. Although the smart contracts of the project have been audited, Nimerg emphasized that the Yield Protocol is still in the testing phase.

“We expect that unforeseen situations may arise when users will use the project for unintended purposes. We have no way to control or prevent the use of smart contracts for other purposes, "- noted in an article in the project's blog.

In September, CoinGecko conducted a study according to which 40% of DeFi pharming participants cannot independently assess the risks of smart contracts.