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On April 14, 2023, the Department of Justice (DOJ) for the Southern District of New York revealed that the hacker responsible for the Silk Road marketplace breach had been sentenced to a year in prison for wire fraud charges. James Zhong stole more than 50,000 bitcoin from the darknet marketplace (DNM) in September 2012. DOJ … Read more
The approval of a petition in Switzerland allowing FTX Europe AG’s sale would be in accordance with U.S. bankruptcy court, where FTX’s global business filed for Chapter 11. Go to Source Powered by WPeMatico
The debtors appointed Adam Sullivan, a managing director at investment banking firm XMS Capital Partners, to assume the role of president amid the firm’s bankruptcy proceedings. Go to Source Powered by WPeMatico
In 2018, nearly 40% of all crypto developers were based in the United States, whereas in 2022, this figure had fallen to less than 30%. Go to Source Powered by WPeMatico
“Our Disclosure Statement will provide a summary of the Plan, account-holder recovery percentages, FAQs, and additional information on certain risk factors,” said Celsius. Go to Source Powered by WPeMatico
Authorities in South Korea have reportedly seized assets worth billions of won belonging to former representatives of Terraform Labs. The measure should prevent suspects in the case with the failed blockchain firm from selling property that may have been obtained with criminal proceeds. South Korean Law Enforcement Moves to Seize Terraform-Linked Real Estate, Report Prosecutors … Read more
While three American citizens brought in the case, the lawsuit alleges that “millions” of people could be eligible for damages. Go to Source Powered by WPeMatico
A court in South Korea has again denied the arrest warrant for Daniel Shin, a co-founder of Terraform Labs who is being investigated for fraud. Shin has been accused of illegally profiting from the sale of over $100 million worth of the luna cryptocurrency before it collapsed. Seoul Court Leaves Terraform Co-Founder at Large Citing … Read more
Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured … Read more
The former FTX CEO’s legal team argued that though SBF had entered a not guilty plea, he did not acknowledge the new charges, which including bribed a Chinese government official. Go to Source Powered by WPeMatico