JPMorgan Chase, Bank of America, Wells Fargo Suffer Major Outage As Customers Scramble to Locate Deposits

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Crypto exchange Upbit stems fake APT token flood, resumes services

September 25, 2023 Coin Telegraph

APT

The newly created fake APT token called “ClaimAPTGift.com” made its way to 400,000 Aptos wallets, and users found they were able to deposit and sell it on the exchange.

South Korea cryptocurrency exchange Upbit has resumed Aptos (APT) deposits and withdrawals again after fixing an issue that saw a scam APT token incorrectly recognized as the real deal.

On Sept. 24, Upbit abruptly halted Aptos token services after noting an “abnormal deposit attempt,” prompting an inspection of the wallet system.

The problem appears to have originated from a newly created fake APT token called “ClaimAPTGift.com” which had made its way to 400,000 Aptos wallets after its creation on Sept. 21.

The fake token was likely part of a typical token airdrop scam, in which users are airdropped tokens that contain links pointing unsuspecting users to phishing websites.

However, a reported failure by Upbit to properly verify the source code of the scam tokens led to the exchange recognizing the fake tokens as real Aptos tokens, allowing users to deposit them on Upbit and sell them for Aptos' market price, according to X user Definalist.

“It seems that during the process of reflecting $APT coin deposits, there was a failure to check the type arguments, and all same functions transfers were recognized as the same APT native token.”

⚡️How did such a huge and foolish incident occur?

- It seems that during the process of reflecting $APT coin deposits, there was a failure to check the type arguments, and all same functions transfers were recognized as the same APT native token.
- Under normal circumstances,… https://t.co/CvDgTdqnGl pic.twitter.com/8gEx5YnOLH
— Definalist (@definalist) September 24, 2023

This reportedly led to users being able to walk away with funds. Upbit’s customer center has reportedly started to request refunds from users who sold the fake APT tokens.

The issue has since been fixed. As of Sept. 24 at 11:00 pm local time, Upbit confirmed it has resumed deposits and withdrawals after completing the wallet inspection.

“The action against the abnormal deposit attempt has been completed, and there is no problem with your Aptos transaction,” it said in a statement.

It however warned that there could be delays in processing deposits and withdrawals, and possible temporary price fluctuations in the APT tokens as compared to other exchanges.

APT is currently trading at $5.31 over the last 24 hours, however, the price of APT on Upbit is around $5.56, according to CoinGecko.

*Price of the Aptos token, APT. Source: CoinGecko.*

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CoinEX to resume service with new wallet system following $70M hack

September 20, 2023 Coin Telegraph

CoinEX to resume service with new wallet system following M hack

Coin Telegraph

CoinEx has rebuilt its wallet system following a $70 million hack and is set to resume deposit and withdrawals for select cryptocurrencies.

Cryptocurrency exchange CoinEx is set to resume deposit and withdrawals for its users more than a week after it suffered a $70 million hack due to compromised hot wallet private keys.

In previous correspondence with Cointelegraph, the exchange outlined its priority to build and deploy a new wallet system to facilitate activities for the 211 blockchains and 737 tokens that it served before the hacking incident.

The latest statement from the exchange announces the resumption of deposit and withdrawal services of BTC, ETH, USDT, USDC and other tokens from Sept. 21.

CoinEx will resume deposits and withdrawals with 11 cryptocurrencies.

CoinEx will update deposit addresses for the listed tokens and will generate new deposit addresses for its users.

CoinEx customers were advised not to deposit into old addresses on the platform, as this would result in assets being permanently lost. The exchange also warned of a potentially large number of pending withdrawals at the resumption of its operations:

“We ensure the new wallet system is stable, and we will gradually resume deposit and withdrawal services for more assets.”

The exchange maintains that it has implemented a 100% asset reserve policy to safeguard users against potential security threats. Previous updates following the hacking incident also stated that users assets were not affected and that CoinEx's User Asset Security Foundation would cover any financial losses.

Cointelegraph has reached out to CoinEx to ascertain if it will refund users in the event that assets were affected or are affected in the future by the event.

XRP briefly hits $50 on Gemini as users suspect relisting ‘price glitch’

August 11, 2023 Coin Telegraph

<div>XRP briefly hits on Gemini as users suspect relisting 'price glitch'</div>

Coin Telegraph

Gemini is investigating the root cause behind the suspected price glitch.

Crypto users have reported seeing “wonky” prices for Ripple’s XRP (XRP) token on the Gemini crypto exchange hours after it relisted the token on its platform for deposits and trading.

Several crypto community members on X (Twitter) on Aug. 11 posted screenshots of what many have described as a "price glitch" that has seen XRP’s displayed price on the exchange rise above $1 a number of times and even spiking to $50 on one occasion.

Major exchange @Gemini had a glitch.

$50 per #XRP! pic.twitter.com/UBEWN7Rv7j
— JackTheRippler ©️ (@RippleXrpie) August 10, 2023

However, the current market price for XRP is $0.63, according to the crypto tracking website CoinGecko.

Wow. Current price of $XRP on @Gemini. Is this a glitch? pic.twitter.com/Nbzro1ahlW
— Yassin Mobarak (@Dizer_YM) August 11, 2023

Meanwhile, as of Aug. 11, 1:25 am UTC, Gemini announced it has put its platform into full site maintenance.

“We are currently performing maintenance on the Gemini platform and so all services are currently unavailable. All customers assets and funds remain secure. We will provide updates here once we have more information to share.”

It also reported some users were seeing timeout issues on spot markets.

*Gemini also noted it had disabled cryptocurrency deposits and withdrawals on Aug. 10, 10:45 am UTC. Source: Gemini*

Gemini announced it had made XRP available again for trading on the crypto exchange on Aug. 10.

It comes after United States District Court Judge Analisa Torres ruled in the Ripple’s case against the Securities Exchange Commission that XRP is not a security when sold on exchanges.

Xcited to announce $XRP is now available for trading on Gemini. pic.twitter.com/E9Xiv8BTo3
— Gemini (@Gemini) August 10, 2023

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Customers at US bank say deposits are missing as angry reports spread on social media

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JPMorgan Chase Loses $75,000,000,000 in Institutional Deposits As Customers Demand Higher Yields: Report

July 29, 2023 The Daily Hodl

Binance completes integration of Bitcoin Lightning Network

July 17, 2023 Coin Telegraph

addresses

The news comes less than a month after Binance announced their plans to integrate Bit Lightning Network.

Cryptocurrency exchange Binance has completed the integration of the Bitcoin Lightning Network on its platform for BTC withdrawals and deposits.

The development was confirmed by Binance in a July 17 blog post, where they noted that Binance users can now use the layer-2 scaling solution for BTC withdrawals and deposits.

When users now choose to withdraw or deposit Bitcoin, they will now be able to select "LIGHTNING" as an option. Other options include BNB Smart Chain (BEP20), Bitcoin, BNB Beacon Chain (BEP2), BTC (SegWit), and Ethereum ERC20.

*Screenshot showing users can select "LIGHTNING" as an option when depositing Bitcoin. Source: Cointelegraph*

Binance first hinted at the integration of the Lightning Network in May after it had to temporarily pause BTC withdrawals due to a flood of pending transactions caused by "the recent surge in BTC network gas fees."

The explosion in transaction fees has largely been attributed to the creation of memecoins on Bitcoin in the form of BRC-20 tokens — a new token standard on the network.

#Binance has completed the integration of Bitcoin ( #BTC ) on the Lightning Network and deposits and withdrawals are now open.

More details here https://t.co/aIofPdtAGY
— Binance (@binance) July 17, 2023

Binance later confirmed it was working to onboard the Lightning Network on June 20 shortly after users spotted Binance's own Lightning nodes.

Binance joins Bitfinex, River Financial, OKX, Kraken and CoinCorner as the other prominent exchanges to have embraced the Lightning Network.

Coinbase CEO Brian Armstrong also signaled his intention to integrate the Bitcoin layer 2 network on Coinbase in April. However, he didn't give a timeline as to when that may happen.

The Lightning Network aims to make Bitcoin transactions faster and cheaper by allowing users to create off-chain transaction channels.

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