Hacked Exchange Cryptopia Promises to Compensate Lost Funds, Morgan Creek Digital Backs Ikigai Asset Management
Hacked New Zealand cryptocurrency exchange Cryptopia has emailed its customers telling them about the security breach that happened on Jan. 14 and how it plans to move forward including a plan to compensate those affected by the hack.
The exchange says that the hack was not an exit scam as had been said in various circles.
“We are writing this letter to update you on the progress we are making after the event that occurred on the 14th of January 2019. You may have heard various comments about this event being an exit scam but rest assured we are 100% committed to reopening the exchange, bigger and better and to continue trading,” reads part of the email.
The exchange also said that it is working towards reimbursing those who lost their holdings during the security breach and will have a solid plan by the end of the month.
VeriBlock’s main network scheduled to go live on March 25
VeriBlock, a startup that protects blockchain networks against 51 percent attacks announced on March 20 through its subsidiary Xenios SEZC that its main network (MainNet) will go live on March 25. This comes after VeriBlock announced on March 4 that its one year-long testnet phase had come to an end.
The firm has become more relevant in the sector as 51 percent attacks – an attempt to alter data recorded on a blockchain – have progressed from being a theoretical concept to reality. These kinds of attacks have netted more than $20 million from cryptocurrency exchanges. The affected digital assets include Bitcoin Gold, ZenCash, Ravencoin, FLO, and Ethereum Classic.
VeriBlock’s technology can be utilized by both new and established blockchain networks and digital asset projects that want to protect themselves from 51 percent network attacks.
Bittrex co-founder and CEO Bill Shihara said that the exchange has a long-term relationship with VeriBlock as part of their efforts to have the highest possible standards of security.
“Blockchains that adopt VeriBlock’s technology will be able to improve their users’ trading experiences on Bittrex, thanks to the faster confirmation times and rollback protection. We need to continue to create innovative solutions like VeriBlock to move the blockchain industry forward and increase adoption,” said Shihara.
Other crypto companies that have worked with Bittrex include Bloq and Decentral.
Cayman Islands Investment Group Ltd. teases a new cryptocurrency exchange
C.I.I.G. Technologies, the technology wing of Cayman Islands Investment Group announced early this year that it was planning to launch a new cryptocurrency exchange based in the Cayman Islands. CIIG has now announced that its planned exchange – Cryptocay.ky – is ready for the official launch.
The cryptocurrency exchange is almost ready for launch after a year of research, development, and tweaking. Cryptocay.ky is expected to be used by cryptocurrency traders from all over the world and is designed for both professional and amateur traders.
The exchange’s head of Marketing and promotions Malcolm Hurlston explained that they are using the exchange to reach out to everyone.
“We want to be more than just another exchange, we want to help educate those that haven’t taken the dive into the Cryptocurrency world. We want to become the Cryptocurrency Hub of the Caribbean,” said Hurlston.
The exchange will initially support the trading of 25 markets at launch with plans to expand in the future. The list of available cryptocurrencies includes Bitcoin, Ethereum, Litecoin, Ripple, OmiseGo, and more.
Ex Denmark Prime Minister and NATO Secretary-General joins a crypto firm
Concordium, a blockchain platform for identity validating announced on March 20 that it has brought on board Anders Fogh Rasmussen – the former Prime Minister of Denmark and NATO Secretary General – as a strategic advisor.
Rasmussen, who previously occupied several government positions including ministerial posts, served as the country’s Prime Minister from 2001 – 2009 (three terms). Rasmussen spent five years serving as the Secretary-General of NATO until 2014.
This is a positive development for the decade-old blockchain technology as it begins to attract executives from all walks of life – including politics – and not limited to finance.
Rasmussen sees potential in blockchain technology and believes that it can be used to enhance democracy.
“We are only beginning to see the benefits that blockchain technology will bring to our societies, including in our democratic processes. Concordium’s blockchain-based voting solution offers a means of voting that is trustworthy, quick, and cost-effective,” said Rasmussen.
Cryptocurrency trading platform CoinDCX receives backing from Bain Capital Ventures
Cryptocurrency trading platform CoinDCX announced on March 20 that it has secured an undisclosed amount of money is a seed funding round led by Bain Capital Ventures, the venture capital arm of Bain Capital, an investment firm with nearly $105 billion in assets under management.
Other angel investors who participated in the funding round include Sanjay Mehta, Utsav Somani, Fubo TV founder Sung Ho Choi, Karn Nagpal, Rafael Ugolini, and Jatin Aneja.
The startup plans to use the funds to scale technical infrastructure and bring on board new product to promote transparency and inclusivity on the platform.
CoinDCX co-founder Sumit Gupta says that users can trade in more than 200 markets with leverage, have the ability to purchase digital currencies using fiat, and trade crypto derivates in the near future. The exchange wants to provide investors and traders with a one-stop shop for everything they need within the crypto ecosystem.
“No single platform provides investors with a complete set of financial instruments to trade their digital assets. That’s why we created CoinDCX,” said Gupta.
CoinDCX co-founder Neeraj Khandelwal says that the cryptocurrency trading platform is preparing for crypto regulations.
“We strongly believe in a decentralized and disruptive future for the world economy. In the meantime, we are striving to build secure, professional and scalable crypto products for the masses,” he said.
He added that “With cryptocurrency regulations around the corner and increasingly positive sentiments across the community, it is undoubtedly a great time to be in crypto.”
Pension-backed cryptocurrency venture fund invests in Ikigai Asset Management
Morgan Creek Digital, a pension-backed cryptocurrency venture firm, announced that it will be the lead investor in Ikigai Asset Management’s flagship fund focused on opportunistic venture-stage crypto asset investments.
The crypto asset management firm was established in December last year by Travis Kling, Timothy Lewis, and Anthony Emtman.
Morgan Creek was founded by Anthony Pompliano, Mark Yusko, and Jason A. Williams and has so far raised $40 million. It prides itself in being the only crypto venture fund to get the backing of public pension funds.
Both Morgan Creek and Ikigai have investments in major crypto firms such as cryptocurrency exchange Coinbase, Intercontinental Exchange’s Bakkt, Harbor, and many more.
“Ikigai has built an impressive platform for understanding the evolution of, and investing in, crypto assets. We believe they are well-positioned to capture the outstanding returns this asset class will bring in the years to come,” said Pompliano.