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Seoul Court Greenlights Seizure of Do Kwon’s Assets Worth $176 Million
11.5.2023
According to a local report, South Korean prosecutors have been given the green light by the Criminal Division of the Seoul Southern District Court to seize assets owned by Do Kwon, the co-founder and former CEO of Terraform Labs. The report discloses that a total of 233.3 billion won ($176...
Philippines Law Enforcement Busts Crypto Scam Center, Over 1,000 Human Trafficking Victims Rescued
10.5.2023
Over 1,000 human trafficking victims were recently rescued from a “fraud factory” in Mabalacat, a town located nearly 90 kilometers northwest of Manila, Philippines law enforcement has said. Michelle Sabino from the Philippine National Police Anti-Cybercrime Group said trafficking...
OKX just sent $60M in USDT, MASK token to Alameda Research
9.5.2023
The fund transfer may be part of a recovery effort to repay creditors of the failed FTX crypto exchange
FTX Founder Bankman-Fried Seeks Dismissal of Charges Filed After Extradition
9.5.2023
Former CEO of crypto exchange FTX, Sam Bankman-Fried, has asked a judge in the U.S. to dismiss several charges against him filed after his extradition from the Bahamas. His lawyers insist that prosecutors have not obtained consent from Bahamian authorities for the additional counts. FTX’s...
Fractional Reserve Banking Is a Fraud (but It's Genius)
8.5.2023
‘Landmark’ Crypto Law Proposed in New York to Establish ‘Strongest and Most Comprehensive’ Crypto Regulations in US
8.5.2023
New York State Attorney General Letitia James has proposed “landmark” crypto legislation that claims to be “the strongest and most comprehensive set of regulations on cryptocurrency” in the United States. “Rampant fraud and dysfunction have become the hallmarks of cryptocurrency and it is time...
UK High Court Rules to Set Aside Interim Proprietary Injunction Against Binance
6.5.2023
A high court in the United Kingdom recently set aside a proprietary injunction that was issued against the crypto exchange Binance. In its application challenging the injunction, Binance said the action had been taken without notice. Binance also said it could not comply with the injunction since...
7 potential use cases of chatbots in banking
4.5.2023
chatbots can offer a convenient and accessible way for individuals to manage their personal finances, fraud prevention and more
Ukraine, US Shut Down 9 Cryptocurrency Exchanges
4.5.2023
Supported by U.S. law enforcement, police in Ukraine have disrupted a network of crypto exchange services suspected of laundering criminal proceeds. The platforms were allegedly processing dirty money obtained from ransomware attacks and various fraud schemes. Cyberpolice, US Investigators Bust...
Ex-OpenSea Exec Convicted of Wire Fraud, Money Laundering in Insider Trading Case
3.5.2023
Nate Chastain, the former head of product at non-fungible token (NFT) platform OpenSea, was convicted of money laundering and wire fraud in a New York court on Wednesday, according to a report from Reuters
State regulators crack down on fraudulent cryptos promoted as 'Elon Musk AI Tokens' and 'TruthGPT Coin'
3.5.2023
According to the cease and desist order, investors are being given the impression that Elon Musk endorses "TruthGPT Coin"
Celsius Founder Mashinsky Denies ‘Baseless’ Fraud Claims From New York State
3.5.2023
Attorney General Letitia James said Mashinsky misled investors about the health of the now bankrupt crypto lender
UK Set to Ban Cold Calls Selling Financial Products, Including Crypto
3.5.2023
The reported value of U.K. cryptocurrency fraud climbed 32% to £226 million in the year ending in September 2022
US Court Orders Operator of South African Bitcoin Ponzi Scheme to Pay Over $3.4 Billion
2.5.2023
Johann Steynberg, the founder and CEO of Mirror Trading International, has been ordered to pay over $1.73 billion in restitution to victims of his bitcoin ponzi scheme. The court has also ordered Steynberg to pay a civil monetary penalty of a similar amount. The Commodity Futures Trading Commission...
CFTC exposes the largest Bitcoin-related fraud case
1.5.2023
As per the information released by a Texas judge, the U.S. Commodity Futures Trading Commission (CFTC) has successfully unearthed the biggest-ever fraud case related to Bitcoin. According to the facts gathered, the erring party has been compelled to pay a penalty of $3.4 billion. The perpetrator...
Largest Bitcoin Fraud Scheme Results in $3.4B Penalty in a Case Brought by CFTC
28.4.2023
A judge has ordered a record-breaking $3.4 billion penalty in a fraud case involving Bitcoin brought by the US Commodity Futures Trading Commission.
In a Thursday press release, the CFTC revealed that Cornelius Johannes Steynberg, a South African national and CEO of Mirror Trading International...
South African Mirror Trading's CEO Fined $3.4B by U.S. in Bitcoin Forex Fraud Case
28.4.2023
The founder of bitcoin pool operator MTI was charged with fraud last year for running an unlicensed commodity pool scheme
CTFC wins record $3.4B penalty payment in Bitcoin-related fraud case
28.4.2023
The CFTC said it's the largest fraudulent Bitcoin scheme charged in any of its cases and the "highest civil monetary penalty ordered in a CFTC case."
Leader of Miami Trio Pleads Guilty to $4M Bank, Crypto Fraud Charges
26.4.2023
The U.S. Department of Justice last year charged three members of a Miami crew for participating in a crypto-related scheme from 2020
Report: Terraform Labs Co-Founder Indicted on Fraud Charges in South Korea
25.4.2023
Recent local reports have brought to light that Shin Hyun-seong, also known as Daniel Shin, co-founder of Terraform Labs, has been indicted by the Seoul Southern District Prosecutors’ Office on charges of fraud. Along with nine others, Shin is suspected of deceiving investors and accumulating...