cryptoexchange

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has launched a major crackdown on crypto exchanges and remittance providers that fail to comply with anti-money laundering laws. The regulatory agency has warned that companies not meeting their obligations could face serious consequences.
📢 “Businesses in this sector that fail to meet their obligations can expect to hear from us,” warned AUSTRAC CEO Brendan Thomas.
Crackdown on Dozens of Crypto Firms – 9 Registrations Revoked ⚖️🔍
According to AUSTRAC’s official press release, the agency is investigating more than 50 providers and has already taken action against 13 of them.
📌 Key Actions by AUSTRAC:
🔹 9 providers had their registrations revoked, suspended, or not renewed due to non-compliance with anti-money laundering and counter-terrorism financing laws.
🔹 2 additional providers are under strict conditions – failing to meet these could lead to suspension or full cancellation of their licenses.
📊 This is part of a year-long investigation into companies suspected of failing to detect or report suspicious transactions.
AUSTRAC in Action: Charges and Exchange Closures 🚔🔎
The investigation has led to criminal charges against key figures from the following companies:
⚖️ Auaisa Trading Pty Ltd
⚖️ Amco Traveling and Exchange Pty Ltd
⚖️ B-Paywize Pty Ltd
Meanwhile, Jinte Net Blockchain Pty Ltd and DIGI-SEND E-Money Pty Ltd no longer require registration, as they have ceased crypto-related operations.
FTX Express and Zipmex Australia Removed from Register ❌📉
AUSTRAC has also delisted two well-known crypto exchanges from its digital currency register:
🔹 FTX Express
🔹 Zipmex Australia
📢 Reason? Both companies have filed for bankruptcy and are no longer operational in Australia.
AUSTRAC Tightens Crypto Exchange Oversight 🔥🛑
According to AUSTRAC, a significant portion of financial crime is linked to crypto exchanges failing to properly detect suspicious transactions.
📌 What’s Next for AUSTRAC?
✅ Since January, it has sent compliance warnings to 106 companies.
✅ With a dedicated crypto task force, AUSTRAC is now overseeing 417 registered exchanges in Australia.
💬 Brendan Thomas added:
📢 “We will continue to monitor the market and take action against those who fail to meet regulatory requirements.”
What Does This Crackdown Mean for the Crypto Industry in Australia? 🇦🇺💡
Australia is making it clear that crypto regulations are tightening and authorities are ready to take tough action against non-compliant firms.
🚀 Is this a step toward a safer market, or is it excessive regulation? What do you think? Share your thoughts in the comments! ⬇️

#CryptoRegulation , #MoneyLaundering , #blockchain , #CryptoNewsCommunity , #CryptoExchange

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Nobitex Crypto Exchange, has officially begun restoring wallet access. After suffering a massive $90 million hack earlier this month. It is the larget cryptocurrency platform in Iran. In a new update posted on X (formerly Twitter), they confirmed that wallet access has now started for verified users. They will begin with spot wallets. The reopening process will continue in phases as the platform works to regain user trust and restore its services.

Source: Nobitex X Handle
Identity Verification Now a Must
As part of the recovery steps, Nobitex crypto exchange has made identity verification mandatory for accessing wallets. The process started two days ago and is now a key requirement for unlocking user accounts. Spot wallets are being prioritized, while other wallets will be accessible once full verification is completed.
If a user’s wallet balance is not yet visible, the organisation urges patience, stating the information will be released in phases after all details are confirmed secure. The platform aims to wind up the verification and access process by mid-week.  Delays may occur due to added security checks. 
Withdrawal, Deposit, and Trading to Resume 
Nobitex crypto exchange is also preparing to resume withdrawal, deposit, and trading services for verified users. These functions will return in steps, ensuring that users who meet the security checks can operate their accounts safely. The team is working hard to keep delays minimal and avoid any additional disruption to user activity.
Users are Advised 
Importantly, the Nobitex crypto exchange warned all users not to use their old wallet addresses. As part of a full system migration, old addresses are now invalid. 
Any cryptocurrency sent to them could be permanently lost. Communite members are advised to remove saved old addresses from mining rigs or apps and wait for new ones to be issued by the platform. 
The Cyberattack That Shook Iran’s Digital Asset's Market
This recovery follows the Nobitex Crypto Exchange suffering a massive cyberattack in early June, with hackers making off with some $90 million in digital currencies from Bitcoin, Dogecoin, and other tokens. 
The hacking was conducted by Gonjeshke Darande, a recognized anti-Iranian hacktivist collective suspected of having Israel connections. It was during the ongoing tensions between Iran and Israel war. 
The community alleged that the platform was assisting the Iranian government in evading sanctions from the U.S. and even financing terror. In protest, they destroyed the stolen cryptocurrency by forwarding it to burn addresses with insulting anti-IRGC messages. 
This was followed by Iran issuing an emergency crypto exchange curfew restricting trading hours. It also includes imposing stricter regulations to avoid the recurrence of such incidents. Among new rules were daily withdrawal caps, enhanced KYC requirements, and routine audits for all exchanges. 
Nobitex’s Role in Iran’s Crypto Economy
Nobitex crypto exchange is not just a regular platform in Iran, it serves over 10 million users and has processed more than $11 billion in cryptocurrency transactions. It’s often used by citizens to send funds abroad, fight inflation, and avoid financial sanctions. Reports say that working for the organisation is seen by some as equal to serving the country.
With the platform down, many users were locked out and uncertain about the safety of their funds. The stolen funds were declared unrecoverable. They moved the remaining assets to cold storage. Also activated a reserve fund to cover any potential losses. 
What’s Next for Nobitex?
Nobitex Crypto Exchange got back into business with limited activity but the damage has already been done. The exchange has not clarified yet whether they will fully reimburse the affected users. They have also not provided how much user data is compromised because of the hack. 
Up to date, wallet balances can be viewed by verified user only, and the support of trading is yet to be restored completely. 

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