Canadian Bitcoin Exchange CAVIRTEX Ceases Business Operations
Canadian Bitcoin exchange CAVIRTEX announced to freeze its trading operations, citing security concerns. According to the company's Feb 17th blogpost, their older database, which included details related to 2FA secrets and hashed passwords, was breached recently. Following the incident, CAVIRTEX froze active trading operations on its platform and decided to reimburse all customers' funds. The aim was to fall bravely, rather than stand shamelessly. "We believe that the damage to the company's reputation caused by the potential compromise will significantly harm our ability to continue to....
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New York based global Bitcoin exchange Coinsetter recently assumed the possession of CAVIRTEX, another Bitcoin exchange from Toronto that ceased business operations earlier this year. The acquisition marked one of the first major consolidationa between two big companies in the ever-growing digital currency space. It particularly came as good news for CAVIRTEX customers who will now be able to resume their trading operations on one of the most reliable Bitcoin exchanges Canada has ever seen. Coinsetter's New Role in Canadian Bitcoin Market. The details of the deal between Coinsetter and....
When Canadian exchange Cavirtex closed its doors in February, there was a lot of speculation about the reasons it shut down, but few expected the exchange to come back to life. Cavirtex shut down amid security concerns after a major breach. Now, New York-based digital currencies exchange Coinsetter is expanding into the Canadian market by buying previously closed exchange Cavirtex for close to $2 million, according to Fortune Magazine. Coinsetter, which specializes in institutional trading for investment firms, is confident it can win back all of Cavirtex's old customers in Canada and grow....
Top Canadian bitcoin exchange Cavirtex is expected to resume trading following its acquisition by New York platform Coinsetter. The news comes after Cavirtex announced it was planning to shut down operations in March following a breach that compromised security information including password hashes the previous month. Jaron Lukasiewicz, now CEO of both Coinsetter and Cavirtex, said measures had been taken to remove the possibility of an event like this happening again. He added: "No customers have been financially affected by a compromise ... We feel strongly about our ability to protect....
On Tuesday, February 17, the Canadian Bitcoin community was surprised to learn that its biggest and longest-serving exchange, CAVIRTEX, was to wind down operations by March 25. Enter QuadrigaCX, heir apparent to the title of Canada's largest Bitcoin exchange. An older version of the CAVIRTEX database, including 2FA secrets and hashed passwords, may have been compromised. Their website states, "We believe that damage to the company's reputation, caused by the potential compromise, will significantly harm our ability to continue to operate successfully." Kyle Kemper, VP of CAVIRTEX, also....
With the recent news of Netagio restructuring its business model to wealth storage from a Bitcoin exchange platform, Bitcoin Exchange CAVIRTEX also known as Canadian Virtual Exchange, has taken a similar path. According to their latest news update that was posted on February 17, 2015, Carvitex has intentions to cease operations and stop being “an active Bitcoin business” as soon as possible. This statement gives traders with a balance on the exchange roughly a month to withdraw their funds and close their accounts. If for some reason you still have funds after the cutoff date, you will be....