In the world of cryptocurrency staking, assessing counterparty risk and compliance is crucial. To ensure a successful staking venture, it is important to conduct thorough due diligence. When evaluating potential counterparties, there are several key questions to consider. Firstly, it is essential to assess the counterparty’s reputation and track record. This can be done by […]
Wells Fargo is facing a lawsuit after a customer claimed that the bank froze $204,000 in his account without explanation. Although the bank denies any wrongdoing, it has agreed to hand over a $204,000 check to the customer. The customer’s attorney is now seeking additional funds for damages and attorney fees. This incident comes after […]
Former CEO of investment firm Systematic Alpha Management LLC (SAM), Peter Kambolin, has admitted to participating in a fraudulent scheme known as “cherry-picking.” This practice involved allocating profitable and unprofitable trades in a way that benefited Kambolin’s personal accounts while causing losses for investors. Kambolin also misled clients by claiming that SAM’s trading strategies focused […]
Officials in the United States government are reportedly monitoring cryptocurrency mining operations with ties to China. Many Bitcoin data centers in the US are said to be directly linked to the Chinese government, raising concerns about their proximity to military bases and national security. One specific mining operation in Wyoming, located near a Microsoft data […]
The United States Commodity Futures Trading Commission (CFTC) has filed a complaint against former CEO of Voyager Digital, Stephen Ehrlich, accusing him of fraud and failure to register the bankrupt crypto lender with the agency. The CFTC alleges that Ehrlich and Voyager Digital deceived customers by falsely promoting the platform as a safe and trustworthy […]
Anthony Scaramucci, founder of SkyBridge Capital, recently spoke about his early impressions of Sam Bankman-Fried, the founder of FTX who is currently on trial for fraud. Scaramucci initially admired Bankman-Fried’s vision for a next-generation financial exchange and was impressed by his intelligence and perceived altruism. He trusted Bankman-Fried and even sold a piece of his […]
Former CEO of investment firm Systematic Alpha Management LLC (SAM), Peter Kambolin, has pleaded guilty to running a fraudulent cherry-picking scheme. Kambolin admitted to fraudulently allocating profits and losses from futures trades while serving as a commodity trading advisor and commodity pool operator. The US Department of Justice revealed that Kambolin selectively assigned profitable trades […]
In a shocking revelation, blockchain intelligence firm Elliptic has provided an in-depth analysis of the infamous FTX theft, shedding light on the complex web of events surrounding the hack, subsequent money laundering, and the ongoing quest to uncover the identity of the perpetrators.According to Elliptic’s report, the FTX theft in November 2022 involved $477 million […]
In the second week of the trial involving Sam Bankman-Fried, CoinDesk has analyzed trial documents, transcripts, and reports to provide highlights of Caroline Ellison’s testimony and updates on FTX’s $400 million hack. During the trial, a secret recording was revealed, and the former CEO of Alameda Research, Caroline Ellison, testified. The details of the secret […]
Beluga, a Multichain AMM protocol, has fallen victim to a hacking attack, resulting in the theft of approximately $175K in cryptocurrency. The attack targeted the Beluga protocol deployed on the Arbitrum network. Security firm PeckShield reported the incident, stating that the attackers exploited several vulnerabilities to steal tokens, initially taking 59 ETH. The attacker then […]
