News was a money exchange that allowed users to buy, sell and exchange virtual currencies such as Bitcoin, Litecoin, etc. was launched by a group of American-based Collectables Club Association members in 2013. The main office of was headquartered in West Palm Beach, Florida. Initially, the cryptocurrency exchange was created only for members of Collectables Club Association in order to provide the safe exchange. Everyone interested could join the association for free. From July 2013 until October 2013, the number of members who held a wallet and used the services of the association had grown from 200 to 4,500. However, in 2015, it was discovered that the exchange had been connected with a group of hackers and was used for money laundering. Anthony Murgio, who was running, has been sentenced to five and half years in prison. Stay tuned with Cointelegraph’s news.