The cryptoexchange which has boasted it as the largest in India by volume once has confirmed that it is shutting down. Its CEO Rahul Raj said in a slumber tone, “After months of uncertainty and disruption, we have regretfully decided to shut down all digital assets exchange services and operations today… sad day for all digital assets and blockchain enthusiasts in India and we can’t express in words how hard it’s been for us to make this decision.”
Koinex, cryptocurrency platform confirms that they don’t run any google ad and believe the ad is phishing site to steal user credentials. Koinex has found out about the phishing attempt in time and managed to fix things before things are getting worst. The phishing attempt made use of Google Adwords and created a fake Koinex website like the original domain.
The Koinex exchange has declared the establishment of a new development center in Bengaluru. The center would support the development of various blockchain solutions to solve issues connected to finance, security and banking functions. The digital asset exchange has also built an in-house trade engine which could process over one million transactions in a second.
The Koinex crypto exchange is associating with a blockchain company called Dunya Labs. The association has been established for the conduct of seminar-cum workshops encircling the blockchain and decentralized applications for the benefit of the developers. The first phase of the seminar is to be conducted in Bangalore during the first week of November.
A cryptocurrency exchange based in India has resumed its INR deposits and withdrawals on their platforms. Product manager of Koinex, Rishabh Khanna explained regarding the recent addition to its platform to Crypto-News India, “Yes this is different from Loop. On Loop, a user can only trade in peer-to-peer cryptocurrency. However, this upgrade will only deal with INR transactions.”
The banning decision issued by the Reserve Bank of India remains unaltered even after the hearing made by the country’s Supreme Court. KoinEx will be launching a new platform named LocalBitcoins that offers INR with the aim to expose the clients to Bitcoins and any other alternative coins and making cryptocurrency accessible. The trading eliminates the role of middlemen.