BitMEX has partnered with Zodia Custody to enable institutional crypto derivatives trading via off-exchange collateral held in segregated custody. BitMEX, a derivatives-focused cryptocurrency exchange, said it has secured a custody partner to enable asset segregation and trading with off-exchange assets. The company announced Tuesday a partnership with Zodia Custody to allow traders to access derivatives while keeping collateral in segregated custody. The integration is immediately accessible via Interchange, Zodia Custody’s off-venue settlement solution. BitMEX CEO Stephan Lutz told Cointelegraph the move reflects lessons from past market failures, including the FTX collapse and the $1.4 billion Bybit hack, which exposed risks tied to unsegregated or compromised exchange-held funds. Read more
The Kelp DAO attacker has moved $175 million of stolen Ether in an apparent bid to start laundering it after the $290 million exploit. The attacker behind the roughly $290 million Kelp DAO exploit began moving tens of thousands of Ether to newly created blockchain addresses on Tuesday, in what appears to be an effort to start laundering the stolen funds. The wallet tagged by Arkham as linked to the Kelp DAO exploit moved about 75,700 Ether (ETH) worth roughly $175 million across three transactions on Tuesday, including a 25,000 ETH transfer to one newly created address and transfers of 50,700 ETH and 0.7 ETH to another. Blockchain investigator ZachXBT wrote in a Tuesday Telegram post that addresses tied to the exploit had begun moving funds through THORChain and Umbra. He flagged three THORChain transactions totaling about $1.5 million and a separate $78,000 transfer through Umbra. Read more
Shipping companies with vessels stranded near the Strait of Hormuz are being targeted by scammers posing as Iranian authorities, demanding Bitcoin or USDt for safe passage. Fraudulent actors posing as Iranian authorities have reportedly sent messages to shipping companies whose vessels remain stranded west of the Strait of Hormuz, demanding payment in cryptocurrency for safe passage. On Monday, maritime risk company Marisks issued a warning saying unknown groups had contacted shipowners claiming to represent Iranian security services and requesting transit “fees” in Bitcoin (BTC) or USDt (USDT) in exchange for clearance through the strait, according to Reuters. “These specific messages are a scam,” Marisks reportedly said, adding that they do not originate from Iranian authorities. Tehran has not publicly commented on the claims. Read more
Promoters of flagged platforms may face fines of up to 5 million Philippine pesos ($89,000) or up to 21 years in prison under Philippine securities law. The Philippine Securities and Exchange Commission (SEC) has issued a public investor alert warning Filipinos not to invest in dYdX and six other crypto trading platforms, saying they are not registered or authorized to solicit investments in the country. In a Facebook post on Tuesday, the SEC named dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv and Ostium, stating that based on its findings, the platforms appear to be offering investments to the public in exchange for promised returns, profits or interest. The regulator said none of the listed entities are registered with the Commission or hold the required authorization under its crypto-asset service provider (CASP) framework, which requires firms offering crypto-related services in the Philippines to obtain licenses and meet capital and operational requirements. Read more