The Commodity Futures Trading Commission (CFTC) has revealed that it has paid out $16 million to whistleblowers this year. According to Commissioner Christy Goldsmith Romero, the majority of the 1,530 tips received by the CFTC were related to cryptocurrency. Romero stated that the crypto industry continues to be plagued by fraud and other illegal activities. […]
Amir Bruno Elmaani, the founder of the now-defunct cryptocurrency scheme Oyster Protocol, has been sentenced to four years in prison for tax evasion. Elmaani, also known as “Bruno Block,” admitted to secretly minting and selling Pearl tokens without paying income tax on the profits. This resulted in tax losses of over $5.5 million. Elmaani promoted […]
Day 15 of the trial of Sam Bankman-Fried (SBF) continued with the prosecution’s cross-examination, focusing on SBF’s relationship with the Bahamian government, handling of customer funds, and transparency issues. The defense conducted a re-direct examination to provide context and nuance to SBF’s responses. The prosecution presented evidence, including messages and videos, to support their claims. […]
Former FTX CEO, Sam Bankman-Fried, has concluded his testimony and cross-examination in his criminal fraud trial. During his testimony, Bankman-Fried acknowledged the existence of an $8 billion hidden debt within Alameda Research, which was discovered after a bug was fixed in an account called fiat@. He claimed to have discovered the massive transfer in September […]
The UK’s Financial Conduct Authority (FCA) has issued a warning to investors regarding Bitfinex, stating that the exchange may be promoting financial services without proper authorization. The FCA cautions potential investors to avoid dealing with Bitfinex, as they will not have access to the Financial Ombudsman Service for resolving complaints and will not be protected […]
In 2017, the victims of the Mt. Gox hack are still waiting for compensation, almost 10 years after the incident. This serves as a reminder of the haunting reality of cryptocurrency, where the loss of private keys can lead to the disappearance of fortunes.One unfortunate incident involves Gerald Cotten, the CEO of QuadrigaCX. While on […]
A popular Telegram bot called Unibot, which is used for trading on the decentralized exchange Uniswap, was recently hacked. The exploit on a newly deployed contract allowed the hacker to steal around $560,000 worth of various memecoins from users. The blockchain security firm Scopescan alerted Unibot users about the ongoing hack, and Unibot later confirmed […]
In a shocking turn of events on Halloween, the crypto community was rocked by a series of rug pulls, which are a type of cryptocurrency scam. These rug pulls involve sudden drops in the value of specific tokens, accompanied by the perpetrators swapping the tokens for Ethereum (ETH). The meme coins affected by these rug […]
The trial of Terraform Labs co-founder Shin Hyun-Seong and seven others has begun in Seoul, South Korea. Shin is accused of defrauding investors, and the question of whether Luna is a security is also being addressed. Shin, who left Terraform in 2020, claims that the company’s bankruptcy was due to the unreasonable operation of the […]
Following the tragic events in Israel in October, a narrative emerged linking Hamas funding to cryptocurrencies. The Wall Street Journal published a story on October 10, authored by Angus Berwick and Ian Talley, which fueled Senator Elizabeth Warren’s campaign against the crypto sector. However, subsequent insights from Chainalysis and Elliptic cast doubt on these claims, […]
