The United States District Court for the Southern District of New York is continuing with the sentencing of the key individuals behind the AirBit Club cryptocurrency Ponzi scheme. On October 3, Scott Hughes, Cecilia Millan and Karina Chairez were sentenced to 18 months, five years and one year and one day in prison respectively. All […]
Recently, four Friend.tech users have had a total of 109 Ether ETH, worth around $178,000, stolen from their accounts in under a week. The users have warned of possible SIM-swap attacks, where exploiters gain control of a user’s mobile number to intercept two-factor authentication codes and access accounts. One user, Froggie.eth, reported that their account […]
Kevin O’Leary, the millionaire investor and “Shark Tank” television personality, was reportedly paid $15.7 million for promoting the now-defunct cryptocurrency exchange FTX. O’Leary allegedly received the payment in exchange for “twenty service hours, 20 social media posts, one virtual lunch, and five autographs”. The exact timeline and details of the agreement remain undisclosed, but it […]
Binance, a crypto exchange, has played a key role in helping Thai authorities dismantle a massive crypto scam that drained over $277 million from victims across Thailand. Working with the Cyber Crime Investigation Bureau (CCIB) of the Royal Thai Police and the US Department of Homeland Security, Binance provided crucial intelligence that led to the […]
Celsius Network has begun its bankruptcy trial in New York, with the goal of relaunching itself as a user-owned Bitcoin miner. The company has informed a judge that it intends to repay customers whose funds have been frozen since June 2022 with a portion of what they are owed by the end of the year. […]
Sam Bankman-Fried, former CEO of FTX, is on trial in New York for seven counts of conspiracy and fraud in connection with the collapse of the cryptocurrency exchange he co-founded. He has pleaded not guilty to all charges and is being heard by Judge Lewis Kaplan. Bankman-Fried was arrested in the United States on his […]
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned crypto wallets allegedly connected to individuals and companies involved in the production of fentanyl. The U.S. Justice Department announced indictments against several China-based chemical manufacturers and their employees, who allegedly used crypto transactions to conceal their identities and the movement of […]
Binance, a crypto exchange, has recently joined forces with the Royal Thai Police in an investigation that led to the arrest of several suspects behind fraudulent activities. The investigation was assisted by Binance, the Cyber Crime Investigation Bureau (CCIB), and the US Homeland Security Investigation (HIS). The law enforcement agencies and the crypto exchange managed […]
Ardana Labs, a project that aimed to provide an innovative stablecoin platform for the Cardano network, raised $10 million from investors in 2021. However, the project suddenly closed up shop in November 2022, citing “funding and project timeline uncertainty.”Web3 risk-management platform Xerberus has now suggested that Ardana executives likely transferred 80% of the project’s funds […]
Alex Mashinsky, the former CEO of Celsius, will stand trial in September 2024 for multiple counts of fraud, including wire fraud, securities fraud, commodities fraud, and conspiracy to manipulate the value of the company’s native crypto token, CEL. His lawyers will make a case based on the ambiguity surrounding the legal status of cryptocurrencies. The […]
