Kraken closes Abu Dhabi branch, delisting dirham (AED)

Less than a year after receiving the required authorization for the region, cryptocurrency exchange Kraken has closed its Abu Dhabi branch.

According to a February 2 Bloomberg article, Kraken is closing its office in Abu Dhabi and firing eight staff members who were specifically in charge of the MENA region (the Middle East and North Africa) from this location. Only in April 2022 did the cryptocurrency exchange receive authorization to conduct business in the Abu Dhabi International Financial Center and the Abu Dhabi Global Market.

A spokesman for Kraken confirmed the closure to Cointelegraph in a statement and added that the dirham (AED), the national currency of the Arabs, will also be delisted concurrently. After all, current users from the area should still have access to the cryptocurrency trading platform, but they will only be able to transact in foreign currencies. Director Benjamin Ampen will be withdrawn, but some office personnel should stay in the area.

The closure in the Middle East should not come as a surprise since Kraken previously disclosed in November that a total of nearly 30% of the workforce, i.e. e. To survive the ongoing crypto winter, more than 1,000 employees would need to be let go. In this context, Kraken co-founder Jesse Powell acknowledges that before the exchange could grow quickly, it would first contract to its size in 2021. Powell announced his own resignation as CEO in September; however, he will continue to serve on the board of directors for the cryptocurrency company.

On January, Kraken left Japan as well. After leaving the island nation once in April 2018, the cryptocurrency exchange left again on December 31. The company cites the challenging environment on the crypto market in Japan and the rest of the world as a deciding factor once more.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FireFaucet - An earning site that pays better for some than Cointiply

Comments

From offchain to offchain: Statechains meets Lightning

Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...

Phishing attack on popular crypto sites tries to empty wallets

Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price. At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...

Cryptostreet

Search This Blog