Bisq Exchange Hacked for $250,000; Huobi Returns to US; OneCoin Scammer Sentence Delayed

TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Bisq exchange loses $250,000 in an apparent hack. Huobi exchange to return to US market. DeFi projects thrived in Q1 2020. New York court delays sentence for OneCoin scammer. Coinbase CEO included in Business Insider’s 15 youngest billionaires in America, and CoinFLEX rolls new dashboard interface.

Bisq Exchange Losses $250,000 in Hack

Bisq, a decentralized cryptocurrency exchange, lost $250,000 in a hack event that happened after an upgrade introduced a vulnerability in their code. The exchange detected the vulnerability and stopped trading on the platform, but the attacker already swept funds from seven customers, taking 3 BTC and 4,000 XMR in the process. Bisq committed to introduce a proposal in the Bisq DAO, the funding mechanism of the exchange, to return the funds to the 7 affected victims.

Huobi to Return to US Market

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Huobi, the cryptocurrency exchange, announced it is planning to reenter the US after exiting the market due to regulatory problems. Now, Huobi is going to play it safe, partnering with another exchange to facilitate offering all their services upon reentry. “Learning from prior experience, Huobi’s strategy for re-entering the U.S. market is to partner with a fully-regulated firm,” declared Ciara Sun, Huobi Group’s Vice President of global business, also clarifying they will offer OTC services first for institutional investors.

DeFi Projects Thrived During Q1 2020

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DappReview, a dApp indexing and statistics firm, released its dApp Market Report corresponding to the first quarter of 2020, registering a big growth in DeFi protocols. The top DeFi powering chain continues to be Ethereum, experiencing a 652% percent growth compared to Q1 2019. Of the whole transactional volume, 84% corresponded to tokens instead of Ethereum. Finance and Exchange apps, like DeFi protocols MakerDAO and Compound, also experienced a growth in trading volumes of 1,743% since Q1 2019.

Sentence Postponed for OneCoin Scammer

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A New York court delayed sentencing of Konstantin Ignatov, brother of OneCoin scheme cofounder Ruja Ignatova (who stole billions of dollars in cryptocurrency from investors). The court convened to delay the sentence of Ignatov to July 8th because he is still collaborating as a witness. The OneCoin saga, considered by some as the biggest exit scam ever performed, was converted into a successful podcast (The Missing Cryptoqueen) and a TV adaptation is in the works.

Coinbase CEO is Among the 15 Youngest Billionaires in America

Brian Armstrong, CEO of US based exchange Coinbase, was included on the list of the 15 youngest billionaires in America published by Business Insider. Armstrong is presented as the face of the cryptocurrency industry in America, being the only crypto-related billionaire on the list, with a recorded fortune of $1 billion. Coinbase has been the go-to exchange for novices entering the cryptocurrency world, ramping up earnings of the exchange launched in 2012 to reach a valuation of $8 billion in 2018.

CoinFLEX Rolls Out New Dashboard Interface

CoinFLEX, the first physically delivered cryptocurrency futures exchange focusing on Bitcoin Cash, is revamping its image by rolling out a new operative dashboard that will bring a more accessible and easy interface for traders to interact with the platform. The new dashboard and its elements are explained in a PR release that also describes its new location and functions. With this move, CoinFLEX shows the importance it gives to the user experience and how it heard feedback the community offered for improvement.

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