Craig Leontowicz

• Netcoins cryptocurrency platform has recently fallen victim to a cybersecurity incident on September 17, 2023, which potentially affected users’ personal information such as email addresses, passwords, and government-issued ID details among others.
  
  
• The company’s internal control systems detected suspicious activity within their hot wallets. They managed to tackle the vulnerability swiftly, ensuring no customer funds or crypto assets were compromised.
  
  
• Following the breach, Netcoins is undertaking a forensic investigation with the help of external cybersecurity experts and has informed law enforcement and regulatory bodies.
  
  
• To safeguard users’ data and provide peace of mind, Netcoins has reset all customer passwords and is offering one year of complimentary credit monitoring and identity theft protection via TransUnion Canada’s myTrueIdentity® service, along with identity theft restoration services through CyberScout.
  
  
• Users are advised to stay vigilant, update passwords on other platforms if they resemble their former Netcoins password, and report any suspicious activity on their financial or credit accounts. Furthermore, users can consult the Incident FAQ on the Netcoins website for more information or reach out to Netcoins’ customer support for assistance.

Read more

In a groundbreaking move that has sent ripples throughout the cryptocurrency industry, WonderFi announced its acquisition and strategic partnerships with four of Canada’s leading cryptocurrency platforms: Bitbuy, Coinsquare, Coinberry, and CoinSmart.

Read more

Email that Binance sent out today to Canadian customers today.

Important notice about your Binance account

Dear Binancian,

We regret to inform you that Binance will be joining other prominent crypto businesses in proactively withdrawing from the Canadian marketplace. Albeit a small market, it held sentimental value for us as the home country of our founder. We had high hopes for the rest of the Canadian blockchain industry. Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time. We put off this decision as long as we could to explore other reasonable avenues to protect our Canadian users, but it has become apparent that there are none.

We ask the existing Canadian customers to close any open positions by September 30, 2023. From October 1st, 2023, Canadian customers will be put into liquidation only mode. This means that you will no longer be able to use any product on the platform, except to reduce, redeem or close open positions and withdraw funds and cryptocurrencies from the exchange. Your funds will remain safe in your account until you withdraw them. You will be able to withdraw your cryptocurrencies to your self-custody wallet or your cryptocurrency account on another exchange.

While we do not agree with the new guidance, we hope to continue to engage with Canadian regulators aimed at a thoughtful, comprehensive regulatory framework. We are confident that we will someday return to the market when Canadian users once again have the freedom to access a broader suite of digital assets.

We sincerely apologize for the inconvenience caused by this change. If you have any questions or require assistance, please contact Customer Service.

Thank you,

Binance