TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Bitfinex pays $100 million to Tether. OKEx and Bitfinex suffer DDOS attacks. Cryptocurrency exchange Bitin management arrested for not reporting taxes. Digitex suffers KYC leak from an ex-employee. Intsights report high usage of cryptocurrency in Latin America criminal schemes, and Cryptophyl will pay DROP holders 50% of referred users’ fees.

Bitfinex Pays $100 Million to Tether

📢Bitfinex Repays $100M of Outstanding Loan Facility to Tether.

Read more at https://t.co/UkKaNESd70 — Bitfinex (@bitfinex) February 28, 2020

Bitfinex announced it paid $100 million of an outstanding loan from Tether, their sibling stablecoin company. The exchange, now being sued by the NY Attorney General for using the $850 million loan to cover up for losses contracted when sending a money to Crypto Capital, a third party payment processor and shadow bank, without disclosing it to customers, announced their payment was made in fiat wired to Tether’s bank account. “This payment is all on account of principal,” Bitfinex declared.

OKEx and Bitfinex Suffer DDOS Attack

We've detected a planed DDOS attack to our site, 200G yesterday & 400G just now. A message to OKEx users & communities: Be assured, OKEx is well-prepared to deal with these attacks, we have and will always protect our users no matter what. https://t.co/T7Um4G16w7 — Jay Hao (@JayHao8) February 28, 2020

Cryptocurrency exchanges OKEx and Bitfinex reported suffering several DDOS (Distributed Denial Of Service) attacks yesterday, with their respective platforms stopping as a result. OKEx CEO Jay Hao declared on Twitter they suffered an attack, 200G and 400G. However, he assured customers they are well prepared to deal with these attacks. Bitfinex was also hit by a similar attack that lasted almost an hour. Bitfinex CTO Paolo Ardoino declared the level of sophistication of the attack implied some kind of preparation, but insisted the attacks were fruitless.

Bitin Management Arrested by Tax Authorities

The whole management staff of Bitin, an Israeli cryptocurrency exchange, has been arrested by the Israel Tax Authority for running its operation without reporting revenues. According to Israeli law, Bitin failed to pay taxes, and so the team in charge of its operations are facing money laundering charges and tax evasion. Four executives of Bitin, including Bar Mittleman, CEO, were arrested, as Israel strengthens its oversight on cryptocurrency-related businesses. Bitin didn’t offer custodial services, so no customer funds were affected during the raid.

Digitex Ex-Employee Steals KYC Info from Thousands of Customers

An ex-employee of Digitex, a cryptocurrency futures exchange, announced he has the KYC data of more than 8,000 customers, posting at least three sets of data in a Telegram group called “The Digileaker.” However, the exchange denied to further comment about the incident in a statement released recently, saying they “are not able to comment on the incident at this time and are currently seeking legal counsel.” Rumors of this leak had been mentioned since early February when Adam Todd, Digitex CEO, minimized the happenings, saying only emails were leaked.

Crypto Used More and More by Criminal Organizations in Latin America

A new report from security firm intSights, an external threat intelligence and protection platform, shows cryptocurrencies are being actively integrated by Latin American criminals to ease their laundering operations and profit on new crime models. The report, titled “The Dark Side Of Latin America,” discovered hackers and drug cartels are coming together, bringing new sources of profit through the use of cryptocurrencies. Also, these associations are laundering their profits using P2P exchanges as their weapon of choice.

Cryptophyl Rewards DROP Holders

Cryptophyl, the first SLP token dedicated exchange, announced its new policy to benefit holders of DROP, their official token. Users holding more than 1,500 DROP on the exchange will be able to be rewarded with 50% of the fees paid by their referrals, as opposed to just 25% if they hold less or no DROP. However, this payout scheme will not happen instantly: the percentage will rise 1% every day users hold DROP on the exchange, and will top out at 50%. Cryptophyl has already distributed over 400,000 DROP to its customers and will airdrop 500,000 more in the coming months.

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