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Chicken Shit XRP Trading Manipulators May Find Beaxy In Their KYC

The biggest threat to cryptocurrency holders is bad code, as the latest exchange hack has shown. Beaxy, a recently launched exchange based in Nevis and St Kitts, will roll back a number of trades after falling victim to a little-known exploit in the XRP Ledger.

The exploit was discovered after a coordinated sell-off pushed XRP prices to forty percent below the wider market.

The orchestrated XRP dump is especially remarkable, in that it was conducted on a fully KYC compliant exchange and brings attention to some of the tradeoffs in exchange compliance.  

But the hackers may yet find something unpleasant at the bottom of their bucket of XRP…

How XRP Hit The Bargain Basement on Beaxy

XRP, launched by the founders of Ripple Labs, is the third-largest cryptocurrency by market…

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