Známa postava kryptokomunity tvrdí, že Bitcoin po halvingu poklesne
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Značka: BitMEX
Moonvember kicks off with sweeping staff layoffs across crypto
The crypto and tech industry has seen a slew of staff cuts this week against a backdrop of difficult market conditions, though on a positive note, some are bucking the trend.Crypto companies, including crypto exchanges, venture capital firms and blockchain developers, have been forced to reduce headcount in order to stay nimble amid the bear market. Some, however, have done the opposite, opening up offices in new locations and markets. It comes a few weeks after multiple high-level executives, such as OpenSea’s former chief financial officer, Kraken’s co-founder Jesse Powell and Ripple Labs’ engineering director, have all made headlines for either exiting or stepping down from their roles in the space.Stripe cuts around 1,000 staff Patrick Collison, CEO of payments processor Stripe, said in a Nov. 3 memo that 14% of the firm’s staff — around 1,000 employees — would be laid off, citing “inflation, energy costs, higher interest rates, reduced investment budgets, and sparser startup funding” as reasons for the cuts.Collison added it “overhired for the world we’re in,” saying Stripe was “too optimistic” about short-term e-commerce growth, underestimating the impact of a wider market downturn and that its operating costs grew too quickly.The memo says the headcount changes will be uneven across Stripe, and it’s unclear what departments will be affected or how it will affect the crypto side of its business. The payments startup released a crypto payouts product in April for Twitter creators.Dapper Labs cuts 22% of headcountFlow blockchain developer Dapper Labs made the decision on Nov. 2 to cut 22% of its headcount, impacting roughly 130 employees in a memo by founder and CEO Roham Gharegozlou.Gharegozlou said the “macroeconomic environment” and the company’s growth from 100 to over 600 employees in less than two years prevented the firm from being “as aligned, nimble, and community-driven as we need to be.”He said Dapper Labs “streamlined and focused” its product strategy around a “more sustainable cost structure” and looked at the skills it needed for the future when deciding who to lay off.Digital Currency Group lays off 10% of staff: ReportWeb3 conglomerate and venture capital firm Digital Currency Group (DCG) let go of around 10% of its workforce, according to a Nov. 1 Bloomberg report that saw 10 employees exit the company bringing its headcount to a total of 66.The cuts were reportedly part of a restructuring with Mark Murphy, DCG’s chief operating officer, also promoted to president, a spokesperson said DCG “made a series of internal changes” to position the company “for its next phase of growth” that included “streamlining” of departments.Cointelegraph contacted DCG to confirm the report but did not receive a response.Galaxy Digital reportedly eyeing 20% workforce drawdownGalaxy Digital, the crypto firm founded by Michael Novogratz, is also looking at a potential staff cut of around 20% — as much as 75 positions — as per a Nov. 1 Bloomberg report that cited sources familiar with the matter.The company neither confirmed nor denied the rumors, with a spokesperson only saying the firm is “considering optimal team structure and strategy.” Yahoo Finance data shows shares of Galaxy Digital are down around 76% year to date, alongside a similar drawdown in crypto prices.Galaxy Digital was contacted by Cointelegraph to verify the report but did not receive a response.BitMEX makes staff cuts amid strategy pivot Crypto exchange BitMEX is also making drawdowns across its employees in conjunction with a strategy to pivot away from spot trading and custody services and instead refocus on crypto derivatives.A BitMEX spokesperson told Cointelegraph on Nov. 1 that an earlier report citing 30% of staff would be cut was “inaccurate and too high,” but with its focus back on derivates trading, an “undesirable consequence” was that “we had to make changes to our workforce.”Coinbase CPO quits to take a breatherThe now former chief product officer for crypto exchange Coinbase, Surojit Chatterjee, in a Nov. 3 LinkedIn post revealed he had left his position at the company saying “it’s time to get off the ride and catch my breath.”After nearly 3 incredible years as CPO @coinbase, I’m taking a breather & stepping down. Thanks to the entire CB team – I’m looking forward to continuing to serve @brian_armstrong and the exec team as an advisor. I’ve shared some reflections here: https://t.co/y5qM9VaJ36— surchatt.eth (@surojit) November 2, 2022Chatterjee’s stint at Coinbase lasted three years but said he’d continue to help the company by serving as an adviser to its CEO Brian Armstrong. He said the personal break comes to spend more family time after his father was diagnosed with Alzheimer’s disease and his mother unexpectedly passed away.An Oct. 28 Securities and Exchange Commission (SEC) filing by Coinbase says with Chatterjee’s departure its product, engineering and design teams “are being reorganized within a product group structure under which the leaders of such groups will assume responsibility for Coinbase’s product offerings.”OKX opens in the Bahamas — plans to hire 100 locals Meanwhile, crypto exchange OKX appears to be looking to scoop up staff and said on Nov. 3 it plans to fill 100 job openings.Related: Fidelity to beef up crypto unit by another 25% with 100 new hiresThe open positions will only be available to Bahamian local talent as OKX registered as a digital asset business in The Bahamas, forming a new subsidiary to serve as the company’s regional hub and opening an office in the archipelagic nation’s capital city Nassau.Paxos adding 130 heads in SingaporeAt least 130 new hires based in Singapore will be added over the next three years at blockchain infrastructure firm Paxos, according to a Nov. 2 Bloomberg report, after its local unit received a license to offer digital token payment services.Paxos Co-founder Rich Teo said up to 180 might be brought in over the three years which would boost its headcount to around 200, a nine-times increase from its current team of 20 in the city-state.In October, $4.5 trillion asset management firm Fidelity Investments told Cointelegraph it is set to hire another 100 people to bolster the firm’s growing digital assets division. Fidelity, in a statement to Cointelegraph, said that the firm was in a “unique position” to offer exposure to the “emerging” digital asset sector — as its reasons for pushing for more talent to bolster its Digital Assets arm.
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Hong Kong could be key for China’s crypto comeback: Arthur Hayes
Arthur Hayes, the former CEO of crypto derivatives giant BitMEX, believes the next crypto bull run will start when China moves back into the market, and Hong Kong has a vital part to play in this process. In his Oct. 26 blog post titled “Comeback”, Hayes outlined why he thinks the Hong Kong government’s announcement about introducing a bill to regulate crypto is a sign China is trying to ease its way back into the market. This could be because Hong Kong acts as “the proxy through which China interacts with the world.”“When China loves crypto, the bull market will come back. It will be a slow process, but the red shoots are budding.” Hayes argued that Hong Kong may become the testing ground for Beijing to experiment with crypto markets and act as a hub for Chinese capital to find its way into the global crypto markets. “If these flows actually materialize in the way I imagine, they will be a strong supporting pillar of the next bull market.” According to Hayes, Hong Kong’s “reorientation as a pro-crypto location” is a prong in Beijing’s strategy to reduce its position in a way that won’t destabilize its internal financial system.Hong Kong was ranked the best-prepared country for widespread crypto adoption in a study by Forex Suggest published in July 2022. It considered several factors like crypto ATM installations, pro-crypto regulations, and startup culture.China has one of the largest economies in the world but has been mostly hostile toward the crypto industry. The country’s first ban came way back in 2013 when it prohibited banks from handling Bitcoin (BTC) transactions. Beijing ramped up its crypto crackdown efforts in 2021 when it carried out multiple regulatory operations to eradicate Bitcoin mining from the country and deemed all crypto transactions illegal.However, Hayes says “China has not left crypto — it has just been dormant.” Related: Possession of Bitcoin still legal in China despite the ban, lawyer saysChina did resume BTC mining operations in September 2022 and Chainalysis noted in its 2022 Global Crypto Adoption Index that China re-entered the top ten this year after placing 13th in 2021.The authors of the Global Crypto Adoption Index said they found the development “especially interesting” given the Chinese government’s crackdown on crypto, but according to their data, “the ban has either been ineffective or loosely enforced.”
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Institutional appetite continues to grow amid bear market — BitMEX CEO
In a recent interview, BitMEX chief executive Alexander Höptner shared his thoughts about institutional investors who, in his view, still have an appetite for crypto and Ethereum.Speaking at the Token2049 conference in Singapore on Sept. 28, the crypto executive told Cointelegraph that there has not been a “single slowdown of institutional push into crypto” during this bear market.He added that institutions and finance industry players typically use bear markets for innovation. There is a lot more pressure to deliver in a bull market, but bear markets offer the luxury of more time.Höptner also commented that adoption for the finance industry has a long horizon which is why institutions will be buying and holding crypto assets while the opposite can currently be said for the retail sector.When asked whether institutions or retail will end the bear market he said that retail is still pulling out whereas institutions are still making a push, before adding:“I think that the institutions are making themselves ready now to provide the services and retail will come back and push it up again.”The BitMEX boss is also convinced that institutions will start piling back into Ethereum now that it has switched to proof-of-stake and satisfies the Environmental, Social, and Governance (ESG) concerns.“Ethereum is the ideal protocol to build stuff on,” he commented before adding “this is the ideal public event to build financial products for ESG conformity,” in reference to the recently deployed Merge.At the moment, ESG conformity is paramount, he said, adding that institutions “can offer products that are really for a wide audience once again while checking one of the boxes that they have for their compliance.”Related: Three-quarters of institutions to use crypto in the three years: RippleThe $3,000 figure was mentioned regarding ETH prices by year-end and Höptner sees this as a possibility especially now that the network is more environmentally friendly and big banks are using it. At the moment, ETH is trading up 3.8% over the past 24 hours at $1,336 so it has a long way to go in the next three months.Last week, Cointelegraph reported that liquid staking products such as Lido’s stETH are more profitable and capital efficient than holding regular ETH. As such, they will increase in popularity while hodling ETH could become obsolete.
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Kryptomenový právnik Kyle Roche odstupuje od žalôb proti Tetheru a Binance. Aké sú dôvody?
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BitMEX former executive pleads guilty to violating the Bank Secrecy Act
Another top executive joins three co-founders of the crypto exchange BitMEX, pleading guilty in the United States District Court for the Southern District of New York. The court case under the headline “U.S. v. Hayes et al.” goes on for two years, with BitMEX management being indicted for violating the U.S. Bank Secrecy Act. According to the Wall Street Journal, on Aug. 8, a one-time head of business development at BitMEX, Gregory Dwyer, admitted his guilt of violating the Bank Secrecy Act in court. As part of a plea deal, Dwyer would pay a $150,000 fine. As Manhattan Attorney Damian Williams commented on this development: “Today’s plea reflects that employees with management authority at cryptocurrency exchanges, no less than the founders of such exchanges, cannot willfully disregard their obligations under the Bank Secrecy Act.” All the founders that Williams mentions have already pleaded guilty earlier. Former CEO Arthur Hayes and one of the co-founders, Ben Delo, admitted their guilt on Feb. 24, 2022, while the third co-founder, Samuel Reed entered a plea two weeks later. Hayes was sentenced to two years probation, Delo received 30 months of probation, and Reed is facing up to five years in prison. Reed alone agreed to pay a $10 million fine, the same sum would be jointly paid by Hayes and Delo. The charges against a trio of BitMEX co-founders and Dwyer were filed in 2020. Prosecutors accused the Seychelles-incorporated exchange of false withdrawal from the U.S. market, as it didn’t try hard enough to stop American users from signing up. In addition, BitMEX had been indicted for operating as a money-laundering platform, lacking the necessary anti-money-laundering (AML) and know-your-customer (KYC) protocols.
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Russians banned from accessing Bitmex within European Union
Major cryptocurrency exchange BitMEX is working to increase compliance with the European sanctions against Russia by preparing to enforce major restrictions for its Russian users.BitMEX is changing its restricted jurisdictions policy to be compliant with various restrictive measures of the European Union, Cointelegraph has learned.The BitMEX crypto exchange notified a group of potentially affected users about the upcoming changes via email on Monday.According to an email seen by Cointelegraph, Russian citizens or residents will no longer be able to access BitMEX services from the European Union after July 11, 2022. That means that such users will not be able to log into their account or access any services from the European Union, unless an “exception applies.”The new restrictions do not apply to Russian citizens or residents accessing BitMEX services from the EU who are also residents in the EU or Switzerland. Dual citizens of the EU or Switzerland who reside outside Russia will also not be affected, the email notes.“If you are a resident in the EU or Switzerland or a dual citizen of the EU or Switzerland and reside outside Russia, you may submit additional information to apply for an exemption and continue to access our Services from the EU,” the statement said.The measure targets all types of traders, including persons trading on behalf of any legal persons, while they access BitMEX from the EU, as well as legal persons established in Russia, whose traders access the services from the EU.The announcement doesn’t point to any impact on Russian customers accessing BitMEX services from Russia.Related: Bank of Russia backs cross-border crypto payments vs. domestic tradeBitMEX’s latest restrictions against Russians in the EU arrived after a wave of major exchanges like Binance announced restrictions for Russian users. The majority of such restrictions came in the first two months after Russian President Vladimir Putin announced the “special military operation” in Ukraine on Feb. 24.
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BitMEX co-founder Benjamin Delo avoids jail, receives 30 months probation
Benjamin Delo the co-founder of cryptocurrency exchange BitMEX has been sentenced to 30 months probation for violating the Bank Secrecy Act (BSA), which is an anti-money laundering law.The sentence, handed down at a federal court in New York on June 15th, follows his guilty plea to charges in February of “willfully failing to establish, implement and maintain an Anti-Money Laundering (AML) program” in his role at BitMEX.Prosecutors had argued Delo should serve a year in prison or at least receive a two-year probation along with six months of home detention, as was given to former CEO Arthur Hayes in May.For Delo, his lesser sentence closes the legal saga which started in October 2020 which also saw co-founders Hayes and Samuel Reed along with BitMEX’s first official employee Gregory (Greg) Dwyer charged with similar violations.Judge John Koeltl called Delo’s violations “very serious” and said that heo knew BitMEX was breaking U.S. laws by not implementing an AML and know your customer (KYC) system.Judge Koeltl noted however that the exchange did later take steps to rectify the issue and become compliant.“When I look back, I see a fundamental failure to address a flaw in our systems,” Delo told the court, adding he deeply regrets the actions that brought him in contact with the justice system and vowed that it would be his last brush with it.A citizen of the United Kingdom residing in Hong Kong, Judge Koeltl ordered Delo be allowed to serve his probationary sentence in Hong Kong. Related: The CFTC’s action against Gemini is bad news for Bitcoin ETFsJudge Koeltl also took into consideration the fact that Delo paid a $10 million fine settling a court order from May in a civil case brought by the Commodity Futures Trading Commission (CFTC) for violating aspects of the Commodity Exchange Act.A spokesperson for Delo’s legal team said after the sentencing hearing they’re pleased the court rejected “the government’s cynical attempt to exaggerate the seriousness of the Bank Secrecy Act charge in this case.”Delo’s lawyers said he intends to soon leave the U.S. for Hong Kong.Meanwhile, Australian-born former BitMEX head of business development Greg Dwyer, who currently resides in Bermua, is in talks with the New York federal court to extend a deadline for filing pre-trial documentation according to the Sydney Morning Herald.A letter sent to the court by Dwyer’s lawyer said “the parties continue to engage in discussions regarding a possible resolution to the matter.”
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Is the bottom in? Raoul Pal, Scaramucci load up, Novogratz and Hayes weigh in
Some of the highest-profile investors in crypto believe that a crypto market bottom is fast approaching and the timing is right to buy — although one still warns of catastrophic outcomes should prices fall below established support levels. Billionaire Mike Novogratz, the founder, chairman and CEO of digital asset merchant bank Galaxy Digital Holdings told a Morgan Stanley conference on June 13 that cryptocurrencies may be close to a bottom, with Ethereum (ETH) likely to hold at $1,000 and Bitcoin (BTC) at around $20,000 to $21,000. The bottom for crypto would be realized faster than that of U.S. stocks, which could fall a further 15% to 20% he said. “Ethereum should hold around $1,000 and it’s $1,200 right now. Bitcoin is around $20,000, $21,000 and it is $23,000, so you are much closer to the bottom in crypto than you are where I think, stocks, are going to have another 15% to 20% decline.” Hayes warns of sell-off riskArthur Hayes, co-founder and former chief of BitMEX took a similar view, acknowledging on Twitter on June 13 that on-chain data for Wrapped Bitcoin (wBTC) and Ether indicated that “liquidations have mostly happened.” However, Hayes warned that should support levels break for BTC and ETH at $20,000 and $1,000 respectively, we could expect “massive sell pressure in spot markets.” 4/ If these levels break, $20k $BTC & $1k $ETH, we can expect massive sell pressure in the spot markets as dealers hedge themselves. We can also expect that there will be some otc dealers and that will be unable to hedge properly and might go belly up.— Arthur Hayes (@CryptoHayes) June 14, 2022Pal, Scaramucci loading up Macro investor Raoul Pal is taking the recent market downturn as an opportunity to add to his crypto positions. On June 14, Pal told his 956,000 Twitter followers that “we are in a buy zone” for Bitcoin (BTC), adding he was getting ready to “significantly” add to his crypto positions “probably starting next week and into July.” The former Goldman Sachs executive explained that the imminent Bitcoin bottom can also be signaled by the weekly Relative Strength Index (RSI), which is at 31, edging closer to its lowest ever at 28. With the weekly RSI at 31 and the lowest ever at 28, that too suggests the low is within striking distance. Don’t ever expect to nail the low however…DeMark weekly charts suggest low is next week or in next 5 weeks. pic.twitter.com/rwtfFxjYzH— Raoul Pal (@RaoulGMI) June 14, 2022
RSI is a metric used by investors to measure the speed and magnitude of price changes, which can indicate overbought or oversold conditions. According to Investopedia, an RSI reading of 30 or below indicates an oversold and undervalued condition.Pal said his framework frequently expects 60% drawdowns over the long-term time horizons, adding: “In fact, the best way to optimize returns is to add significantly when the market tests the key trend.”Anthony Scaramucci, founder of Skybridge Capital told CNBC’s Squawk Box on June 13 that investors should “stay disciplined” amidst the crypto slump, noting that his fund has continued adding Bitcoin and Ethereum into its portfolio. “With incremental cash coming into our fund we have bought more Bitcoin and Ethereum […] So yes, truth be told, people will look back on this debacle and say I wish I had fresh cash to buy into that.”Related: ‘Too early’ to say Bitcoin price has reclaimed key bear market support — AnalysisNovogratz was less gung-ho about investing right now, taking a more conservative approach and telling attendees that it may not yet be time to “deploy lots of capital” as the economy may have further to fall. “Until I see the Fed flinch, until I really think, OK the economy is so bad, and the Fed is going to have to stop hiking and even think about cutting, I don’t think it is time to really deploy lots of capital.”Other metrics that could shed light on whether crypto is nearing its market bottom is the Fear and Greed Index which as of today is currently sitting at 8, under “Extreme Fear”, which was last seen on May 17, around the time of Terra (LUNA)’s collapse. Bitcoin Fear and Greed Index is 8. Extreme FearCurrent price: $21,598 pic.twitter.com/lsbousUzeV— Bitcoin Fear and Greed Index (@BitcoinFear) June 14, 2022
Bitcoin is currently priced at $22,061 and ETH is at $1,215 at the time of writing.
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Bitcoin derivatives data forecasts sub-$30K BTC price heading into Friday’s $800M options expiry
Bitcoin (BTC) briefly broke above $32,000 on May 31, but the excitement lasted less than 4 hours after the resistance level proved to be tougher than expected. The $32,300 level represented a 20% increase from the May 12 swing low at $27,000 and it provided the necessary hope for bulls to buy some $34,000 and higher call options.The fleeting optimism reverted to a sellers market on June 1 after BTC dumped 7.6% in less than 6 hours and pinned the price below $30,000. The negative move coincided with the United States Federal Reserve starting the process of scaling down its $9 trillion balance sheet. On June 2, former BitMEX exchange CEO Arthur Hayes argued that the Bitcoin bottom in May could have been a strong signal. Using on-chain data, Hayes predicts strong support at $25,000 given that $69,000 marked this cycle’s all-time high, a 64% drawdown. Even though analysts might issue rosy price predictions, the threat of regulation continues to cap investor optimism and another blow came on June 2 when the U.S. Commodity Futures Trading Commission (CFTC) filed suit against Gemini Trust Co for alleged misleading statements in 2017 regarding the self-certification evaluation of a Bitcoin futures contract.On June 7, a bill to ban digital assets as payment was introduced in the Russian parliament. The bill loosely defines digital financial assets as “electronic platforms,” which can be recognized as the subjects of the national payment system and obliged to submit to the central bank registry.Bulls placed their bets at $32,000 and aboveThe open interest for the June 10 options expiry is $800 million but the actual figure will be much lower since bulls were overly-optimistic. These traders might have been fooled by the short-lived pump to $32,000 on May 31 because their bets for Friday’s options expiry extend up to $50,000.Bitcoin options aggregate open interest for June 10. Source: CoinGlassThe 0.94 call-to-put ratio shows the balance between the $390 million call (buy) open interest and the $410 million put (sell) options. Currently, Bitcoin stands near $30,000, meaning most bullish bets are likely to become worthless.If Bitcoin’s price moves below $30,000 at 8:00 am UTC on June 10, only $20 million worth of these call (buy) options will be available. This difference happens because a right to buy Bitcoin at $30,000 is useless if BTC trades below that level on expiry.Bears aim for sub-$29,000 to profit $205 millionBelow are the four most likely scenarios based on the current price action. The number of options contracts available on June 10 for call (bull) and put (bear) instruments varies, depending on the expiry price. The imbalance favoring each side constitutes the theoretical profit:Between $28,000 and $29,000: 50 calls vs. 7,400 puts. The net result favors the put (bear) instruments by $205 million.Between $29,000 and $30,000: 700 calls vs. 5,500 puts. The net result favors bears by $140 million.Between $30,000 and $32,000: 3,700 calls vs. 3,400 puts. The net result is balanced between bulls and bears.Between $32,000 and $33,000: 7,700 calls vs. 750 puts. The net result favors the call (bull) instruments by $220 million.This crude estimate considers the put options used in bearish bets and the call options exclusively in neutral-to-bullish trades. Even so, this oversimplification disregards more complex investment strategies.For example, a trader could have sold a put option, effectively gaining positive exposure to Bitcoin above a specific price, but unfortunately, there’s no easy way to estimate this effect.Related: ‘Can it get any easier?’ Bitcoin whales dictate when to buy and sell BTCBulls will try to pin BTC above $30,000Bitcoin bulls need to push the price above $30,000 on June 10 to avoid a $140 million loss. On the other hand, the bears’ best case scenario requires a pressure below $29,000 to maximize their gains.Bitcoin bulls just had $200 million leverage long positions liquidated on June 6, so they should have less margin required to drive the price higher. With this said, bears will undoubtedly try to suppress BTC below $30,000 ahead of the June 10 options expiry.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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Bývalý šéf burzy Bitmex Ethereu verí: „Do konca tohto roka bude Ethereum na cene 10 000 dolárov“
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Arthur Hayes to serve 2-year probation owning up to BitMEX’s AML mishap
Bringing closure to the long-awaited judgment related to the money laundering activities over the BitMEX crypto exchange, one of the four federal district courthouses in New York reportedly sentenced two-year probation and six months of home detention to founder and ex-CEO Arthur Hayes.Arthur Hayes, along with the other BitMEX co-founders — Benjamin Delo and Samuel Reed — and the company’s first non-employee Gregory Dwyer, pleaded guilty to the Bank Secrecy Act (BSA) violations on Feb 24, admitting to “willfully failing to establish, implement and maintain an Anti-Money Laundering (AML) program at BitMEX.”Indictment against BitMEX co-founders and employees for violating BSA. Source: Justice.govPleading guilty to supporting money laundering is a punishable offense, often carrying a maximum penalty of five years prison time. However, both Hayes and Delo made their guilty pleas ahead of the March trial date and had agreed to pay $10 million in criminal fines each.On April 7, Cointelegraph reported that Hayes voluntarily surrendered to US authorities in Hawaii six months after federal prosecutors first levied charges, to which his lawyers stated:“Mr. Hayes voluntarily appeared in court and looks forward to fighting these unwarranted charges.”According to the indictment, public court filings, and statements made in court, Hayes was released after posting a $10-million bail bond pending future proceedings in New York. However, prosecutors from the Office’s Money Laundering and Transnational Criminal Enterprises Unit found the entrepreneurs to be guilty of not implementing AML safeguards, including not fulfilling know-your-customer (KYC) obligations. Despite the imminent possibility of serving jail time, owning up to the allegations resulted in Hayes being sentenced to a home confinement sentence that requires him to spend the first six months of his sentence from home. In addition, he also agreed to pay a fine of $10 million.Related: Blockchain and crypto can be a boon for tracking financial crimesBusting the myth related to the ease of laundering money using crypto, a new analysis highlights the potential of blockchain technology and crypto to track down financial crimes. While numerous projects within the crypto ecosystem were victims of targeted attacks, bad actors continue to struggle when it comes to cashing out the stolen funds.Speaking to Cointelegraph, Dmytro Volkov, chief technology officer at crypto exchange CEX.IO, said that the notion of crypto being primarily used by criminals is outdated, adding:“In the case of Bitcoin (BTC), whose blockchain ledger is publicly available, a serious exchange with a competent analytics team can easily monitor and thwart hackers and launderers before the damage is done.”
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