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ChainCatcher news, Indonesian cryptocurrency exchange Tokocrypto has appointed Calvin Kizana as its new CEO. Tokocrypto has also partnered with digital banking service company BCA Digital to enhance its financial solutions for users.

ChainCatcher news, the Indonesian Criminal Investigation Agency (Bareskrim) has collaborated with Binance and Tokocrypto to capture a major fraud operation, identifying multiple suspects and seizing $200,000 in ill-gotten gains.Bareskrim has launched an investigation into a suspected trading fraud case involving a cryptocurrency trading website. The investigation confirmed that the website was part of a pig butchering scam. During the investigation, several individuals involved in managing accounts that received stolen funds were arrested. Authorities discovered approximately 50 mobile phones and several local bank cards, as well as banking applications, on the suspects' mobile phones and tablets. When asked about the cryptocurrency wallets they controlled, the suspects refused to cooperate.Through forensic analysis, Bareskrim investigators identified wallet addresses that may be controlled by the suspects and found supporting evidence in their communication records, particularly on Telegram. Their chat screenshots revealed several key wallet addresses, further linking the suspects to the fraud.Bareskrim has arrested individuals involved in managing the stolen funds.

ChainCatcher news, Binance's Tokocrypto has announced that it has successfully obtained the Physical Crypto Asset Trader (PFAK) license issued by Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti), making Tokocrypto the third exchange in Indonesia to receive the PFAK license. This milestone highlights Tokocrypto and Binance's commitment to regulatory compliance and marks a key moment in the development of Indonesia's crypto asset industry.Binance CEO Richard Teng congratulated Tokocrypto and all parties involved in this significant achievement. Richard stated, "This milestone demonstrates Tokocrypto's unwavering commitment to excellent regulatory practices and its vision of establishing a robust and transparent crypto ecosystem in Indonesia. Binance is dedicated to fully supporting Tokocrypto in fulfilling its mission to advance the Web3 ecosystem in the region." Tokocrypto's user base has exceeded 4.5 million this year, with trading volume increasing by 170% compared to 2023.

ChainCatcher news, according to Tech in Asia, Indonesian crypto exchange Tokocrypto has shelved its IPO plans after being acquired by Binance and the new leadership taking over. Tokocrypto co-founder Pang Xue Kai stated in January 2022 that Tokocrypto was preparing to go public in 2024 or 2025. The new CEO Yudhono Rawis mentioned that the company does not have a clear goal for an IPO.

ChainCatcher news, according to Bloomberg, Binance has held nearly 100% of the shares in the Indonesian cryptocurrency exchange Tokocrypto, and is laying off staff and replacing its top management.Tokocrypto spokesperson Rieka Handayani stated that after Binance increased its stake, Yudhono Rawis will be appointed as the interim CEO of Tokocrypto, replacing Pang Xue Kai. In addition, Tokocrypto is laying off 58% of its workforce to cut costs and will cease its diversification into non-trading platform businesses. (Source link)

ChainCatcher news, according to Coindesk Indonesia, Binance stated that it will gradually increase its stake in Tokocrypto to nearly 100%. In addition, Tokocrypto's CEO and co-founder Pang Xue Kai will resign from the CEO position, and Yudhono Rawis will serve as the interim CEO.Tokocrypto's Vice President of Corporate Communications Rieka Handayani stated that after the acquisition, Tokocrypto plans to focus on its exchange business sector, temporarily halting operations and activities in other business sectors, and will lay off about 58%. (CoinDesk)

ChainCatcher news, according to Tech in Asia, Binance is in talks to acquire the Indonesian cryptocurrency exchange Tokocrypto. Sources say that Tokocrypto CEO Pang Xue Kai will step down after the deal is completed, and Tokocrypto may also undergo layoffs following the acquisition.In September 2022, Tokocrypto laid off 45 employees, accounting for about 20% of its total workforce. According to CoinGecko data, Tokocrypto's trading volume in the past 24 hours was approximately $7 million. Binance previously invested in Tokocrypto in 2020, and Tokocrypto has obtained approval from local regulators. (source link)