13/08/19 05:00 UTC-4

Suspicious activity on Beaxy exchange led to a halt in trading

Big sale of XRP on Beaxy
Big sale of XRP on Beaxy

On April 12th, a major sale of XRP on the Beaxy cryptocurrency exchange led to the fact that tokens were traded with a 62% discount on Beaxy compared to other exchanges.  


Stop tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
on the Beaxy exchange

Due to "unusual activity in large volumes," Beaxy soon stopped all trading operations on its platform as it explores the situation, according to a company blog post.

Interesting in the section: xRapid payment system. Cryptocurrencies and banking

Before the trade freeze, XRP was trading at 0.00001 BTC on Beaxy compared to 0.00002637 BTC on Binance. Since the exchange suspended all trading operations, XRP owners can no longer withdraw funds from their accounts.

The exchange later tweeted: "Quick update. We’ve identified and applied a fix. To move forward, we are rolling back relevant trades on the exchange to the moment it was identified." 

A major XRP sale led to a halt in trading on the Beaxy exchange. Recall that in New Zealand they decided that cryptocurrency income is legal. On this occasion, the local tax authorities provided recommendations on how exactly crypto-income should be taxed.

Editor: Yuliya Soroka

See also: "Coinbase Exchange removes support for Zcash in UK"

#trading #cryptocurrency #XRP #Exchange #Beaxy



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