Australian-based crypto exchange BTC Markets has exposed the names and email addresses of all its users on blast emails sent to its clients on Tuesday. December 2, | AtoZ Markets – Australia’s leading cryptocurrency exchange, BTC Markets . Bitcoin in Australia: Live AUD Price, Best Exchanges. Established in , Independent Reserve is one of the most trusted exchanges in Australia & New Zealand. It caters to retail users, traders, SMSFs and institutions. You can buy Bitcoin using EFT, .
Australia btc marketAustralian BTC Markets Exposes Users' Personal Data
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Bitcoin exchanges in Australia are under the purview of the Australian Transaction Reports and Analysis Centre Austrac , the financial intelligence agency down under. Cryptocurrency exchanges in Australia need to register with Austrac and follow the required procedures in a bid to prevent financial terrorism and money laundering. The exchanges are required to verify the identities of their customers and also maintain certain records for a period of seven years.
The Australian Bitcoin community believes that this is a positive development that could bring more people into the cryptocurrency ecosystem, as Bitcoin exchanges in the country now operate under rules that should deliver protection to investors and users alike. As it turns out, Austrac has officially registered cryptocurrency exchanges across the country since the regulations came into effect in April At the same time, 11 cryptocurrency trading platforms have been investigated, while two have been declined registrations through January Austrac is reportedly strict when it comes to willful non-compliance of its regulations, a philosophy that should boost confidence in Bitcoin as buyers will know that the authority will weed out the illegitimate players.
Additionally, a few government agencies in the country have been taking steps that should increase Bitcoin adoption. This is a digital identity service that will allow customers to quickly and easily sign-up with Bitcoin exchanges in Australia, cutting out the verification period that could sometimes take up to days.
In all, Bitcoin faces a favorable environment in Australia and is reportedly one of the leaders in the adoption of this cryptocurrency. We have already seen that there are hundreds of registered exchanges in Australia from where you can buy Bitcoin.
However, one needs to zero in on a cryptocurrency exchange depending on several factors such as fees, convenience, withdrawal limits, verification requirements, anonymity, and payment modes.
You can use our guide that lists the pros and cons of various Bitcoin exchanges in Australia to choose an option that best suits your needs. You can easily locate a Bitcoin ATM using our map. Once you have purchased Bitcoin in Australia, you can use the digital currency to make payments at several vendors that include cafes, bookstores, and fruit and grocery suppliers.
What was our response? Account-holders had their name and email address exposed. The process took place very quickly, therefore it was not possible to stop the batch send once the error was realised. Representatives of the exchange said that the passwords from the accounts were not compromised. However, BTC Markets, with more than , crypto traders on-board have encouraged users to activate two-factor authentication 2FA and change email access.
Earlier, the leak of personal information of a million users was reported by the manufacturer of hardware wallets Ledger. What do you make of the BTC Markets privacy breach? Share your thoughts in the comment section below.