Crypto News
Unlock $1 Million in Rewards with KuCoin’s New Bounty Program on HackenProof
The prevalence of cryptocurrency hacks is a well-known issue. There are consistently a considerable number of innocent investors falling prey to these unscrupulous individuals. These fraudulent activities often take the form of exchange hacks, wallet hacks, or phishing attacks. Additionally, unauthorized access to digital wallets or misleading direct messaging tactics also occur regularly. Exchanges have been additionally bolstering their securities to find the tiniest bug that can weaken the security of the exchange. According to the latest details from a press release , the KuCoin exchange has launched a $1 million bug bounty program on HackenProof.
The bounty program is envisioned at strengthening security protection. The exchange has also launched a security landing page to assist users with tips to secure their own accounts. KuCoin addressed that: “Together, we will work to resolve any vulnerabilities discovered by the researchers and ensure that KuCoin is secure and meets the highest standards for safety.”
The program will reward anyone who helps to identify key vulnerabilities on the exchange. The submissions will be reviewed with the help of HackenProof. Based on the severity of the vulnerability, rewards will also vary from $50 to $1,000,000 per bug. The bugs are categorized as follows: Critical: $50,000 – $1,000,000; High: $2,000 – $49,000; Medium: $500 – $1,999 and Low: $50 – $499.
KuCoin exchange has launched a $1 million bug bounty program which is aimed at strengthening the security protection on their platform. The program will reward anyone who helps to identify key vulnerabilities on the exchange. This is good news as it will help to make the platform more secure and protect users and their funds. #KuCoin #CryptoSecurity #BountyProgram #CryptoHacks
You can read more about this topic here: Watcher Guru: KuCoin Launches Bounty Reward Program Worth $1 Million on HackenProof
The post Unlock $1 Million in Rewards with KuCoin’s New Bounty Program on HackenProof first appeared on Byte Syze Crypto.
Tron founder and advisor to the exchange, Justin Sun, has stated that Huobi could get a Hong Kong crypto license in six to twelve months. Specifically, Sun told Coindesk that the exchange applied to become a virtual asset service provider (VASP) last week. Additionally, Sun discussed the process of the VASP application and his belief that the crypto exchange could have an answer by the end of the year. Huobi had recently relocated to Hong Kong, aiming to launch Huobi Hong Kong by the summer. Sun was asked about embracing potential competition in the Canadian market and noted the strict regulatory standards in the country, referring to the Caribbean, Hong Kong, and Japan. There has been no verification of other cryptocurrency exchanges that have applied for a similar license, however, Coindesk reported Sun’s expectation that five to six other exchanges could make the move.
This news is good for Huobi as they are in the process of obtaining a crypto license in Hong Kong, which would allow them to operate in the region and serve customers. Other exchanges may also apply for the license, and the grace period given to the exchange could provide them with the opportunity to get approval in the next six to twelve months.
#Huobi #HongKong #CryptoLicense #VASP #JustinSun
You can read more about this topic here: Watcher Guru: Justin Sun Says Huobi Could Get Hong Kong Crypto License in 6-12 Months
The post Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year first appeared on Byte Syze Crypto.
#CryptoSafety #RugPulls #DefiExploits #ProtectInvestors
You can read more about this topic here: Watcher Guru: Crypto Rug Pulls Outvalued Defi Attacks in May, $45 Million Lost
The post Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May first appeared on Byte Syze Crypto.
The Commodity Futures Trading Commission (CFTC) has proposed a re-modelled rule-set for risk management as part of its effort to respond to the U.S. banking crisis. Commissioner Christy Goldsmith Romero highlighted the need for such regulations due to the risks posed by the emergence of technologies like crypto, AI, and cloud services. The CFTC’s advance notice of proposed rulemaking will be open for public comments for 60 days. The final version will then be voted upon. #CFTC #RiskManagement #Crypto #Regulations
You can read more about this topic here: Watcher Guru: Crypto: U.S. CFTC Looking to Change Risk Rules
The post CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry first appeared on Byte Syze Crypto.
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