Hacked cryptocurrency wallet Atomic Wallet has frozen $2 million in “suspicious deposits” with the help of major crypto exchanges. The wallet firm collaborated with blockchain intelligence firms Chainalysis and Crystal to identify and contain the threat. The funds were transferred to the Bitcoin blockchain using sophisticated methods such as bridges and mixers, with most of […]
New York’s attorney general, Letitia James, has filed a lawsuit against cryptocurrency firms Gemini, Genesis, and Digital Currency Group (DCG) for allegedly defrauding investors through the Gemini Earn investment program. The lawsuit claims that the companies deceived over 23,000 investors, including 29,000 New York citizens, out of more than $1 billion. According to the investigation […]
In a shocking revelation, it has been uncovered that the defunct cryptocurrency exchange FTX allegedly used customer funds to repurchase its stake held by Binance. This has raised concerns about the handling of customer deposits within the crypto industry. During a court hearing, it was disclosed that FTX employed customer deposits for various purposes, including […]
Tether, the leading stablecoin company, has announced that it has frozen 32 addresses containing $873,118 that are believed to be connected to illegal activities in Ukraine and Israel. This move is part of Tether’s ongoing efforts to combat cybercrime and ensure that digital assets are not used for illegal purposes. The company has worked closely […]
The eleventh day of the trial of Sam Bankman-Fried (SBF) focused on the testimony of accounting experts who provided crucial information regarding the disappearance of $9 billion in FTX customer funds. Professor Peter Easton from the University of Notre Dame and FBI accountant Paige Owens presented their analysis of FTX and Alameda’s accounts and bank […]
A recent assessment by the Federal Deposit Insurance Corporation (FDIC) has revealed significant gaps in its ability to provide guidance to member banks regarding cryptocurrency activities. The review was prompted by the volatile nature of the crypto market, which reached a market capitalization of $3 trillion in November 2021 but has since dropped to $1.2 […]
In the midst of escalating tensions between Israel and Hamas, a bipartisan group of over 100 legislators, led by Senators Elizabeth Warren and Roger Marshall and Representative Sean Casten, have issued a note urging the Biden administration to address the alleged close relations between cryptocurrency and terrorism. The lawmakers express concern over reports suggesting that […]
Over 100 lawmakers in the United States are urging the Biden administration to clarify its efforts in combatting global terrorist financing through cryptocurrencies. This comes after reports that Hamas, the Islamist organization responsible for recent attacks on Israeli civilians, has raised millions of dollars using crypto over the past two years. Lawmakers allege that between […]
The recent security breach at Stake.com, a popular online crypto casino, has resulted in the loss of $41 million to hackers. The incident is considered one of the significant attacks on the cryptocurrency industry this year. The FBI has identified the Lazarus Group, a North Korean state actor, as the responsible party for the theft. […]
On October 18, a new twist emerged in the alleged rug pull scandal involving social media platform Reddit. A crypto analyst claimed that several subreddit moderators were aware of the decision to shut down the Reddit Community Points (RCP) program and sold their RCP tokens, known as MOONs, just before the token’s value plummeted by […]
