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Beaxy Launches Crypto Trading Platform Despite Hack Last Month


Beaxy Launches Crypto Trading Platform Despite Hack Last Month

Beaxy has announced the launch of its crypto trading platform weeks after it was hacked

Beaxy has announced the launch of its cryptocurrency trading platform on June 11 in a press release shared with Cointelegraph.

In the release, the company said it was now live in 43 United States states and 185 countries. According to Beaxy, an exclusive partnership with OneMarketData delivers trading capabilities across nine order types, with transaction speeds of 225,000 per second per trading pair.

The launch follows two years of development, and the platform says it has more than 60,000 pre-registered users.

Separately, in May, Beaxy CEO Artak Hamazaspyan had uploaded a statement to Twitter confirming that the exchange had been hacked on May 22.

Although the attackers attempted to steal valuable information, he claimed “no KYC data was compromised, no code was compromised, and no funds were stolen.” In a candid admission, he added:

“This was not the first attack on Beaxy, it will not be the last. For example, we were also attacked the day we opened beta.”

Despite the technical hiccups in May, Beaxy’s CEO, Artak Hamazaspyan, said:

“I couldn’t be happier with the product this incredible team has built. Through prioritizing user experience, security, regulatory guidance and seamless functionality, I am confident we’ve built a best-in-class trading platform.”

On May 8, Binance — one of the largest crypto exchanges by trading volume — suffered a major security breach that enabled hackers to withdraw 7,000 bitcoins (BTC) worth $54.6 million at press time.

Last week, crypto wallet provider Komodo revealed it had effectively hacked itself to stop fraudsters stealing user funds worth $13 million.

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