17.04.2021

BitMEX Exchange Exposes User Base in Email Mishap

On Friday at 08:00 UTC, BitMEX alerted its clientele via blog and Twitter that it had accidentally revealed all of its users’ emails via carbon copy (CC). So, if you have an account with BitMEX, anyone obtaining the email has a portion of what’s needed to access your account. It also potentially opens users up to targeted phishing attacks.

If you have an account with crypto derivatives exchange BitMEX, there’s never been a better time to update your security preferences.

According to data tweeted by data analytics firm Skew, BitMEX has around 22,000 users daily.

“We are aware that some of our users have received a general user update email earlier today, which contained the email addresses of other users”, the blog states. “Our team have acted immediately to contain the issue and we are taking steps to understand the extent of the impact.”

BitMEX has now asked customers to add BitMEX’s support email to their contact lists to decrease phishing emails along with adding 2-factor authentication (2FA). The exchange appeared to suggest a bug caused the incident, saying: “The error which has caused this has been identified and fixed.”

The mishap adds to the woes of the exchange, which is also reportedly being probed by the U.S. Commodity Futures Exchange Commission (CFTC) over whether it has allowed U.S. traders to use its platform.  BitMEX geo-blocks multiple countries from participating on its exchange, including the United States. Some users may jump the fence by using virtual private networks (VPNs), however.

One of the largest crypto derivatives markets known for its leverage rates of up to 100x, BitMEX operates out of Seychelles. Its largest product, the XBT/USD trade pair, had a 24-hour trade volume of $2.8 billion as of press time according to CoinGecko.

Bithumb Global to Launch Regulated Crypto Exchange in India: Report

South Korean exchange Bithumb’s international platform Bithumb Global is looking to establish a regulated cryptocurrency exchange in India.

The firm is planning to expand its services to India by partnering with local crypto exchanges, funding local blockchain startups and working on new industry initiatives, local media outlet The Economic Times reports Oct. 3.

“We are open to talking to regulators”

Javier Sim, co-founder and managing director at Bithumb Global, revealed that the company is willing to engage with Indian regulators to build a new regulated exchange. Sim reportedly said:

“We are open to talking to regulators, working with them to be a regulated exchange. We are a strong brand from Korea and do not involve ourselves in unregulated or illegal trade.”

Recent debut of Bithumb Global

While Bithumb Korea is one of the earliest crypto exchanges in South Korea that was founded in 2014, Bithumb Global’s beta launch took place in May 2019. The company officially announced its “next-generation” digital asset exchange on Oct. 1, claiming that Bithumb facilitates over 59% of the entire South Korean transaction volumes of Bitcoin.

According to Sim, Bithumb Global onboarded more than one million global users since launching the platform in beta while its daily trading volume exceeded over $381 million.

Complete ban on crypto is still reviewed in India

Meanwhile, India is apparently still awaiting a formal review of a proposed complete ban on cryptos. In mid-September, local media reported that India was seeing the first signs of an anticipated brain drain as the government is planning to criminalize cryptocurrency investments in the country.

As Cointelegraph reported in August, Sidharth Sogani, CEO of crypto and blockchain research firm Crebaco Global, assessed that India will lose nearly $13 billion worth of market if cryptocurrency is eventually banned in the country.

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