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The guilty plea is the latest development in one of crypto’s most scandalous fraud schemes that left an $8 billion project bankrupt. Former Executive of Defunct Crypto Firm Safemoon Enters Guilty Plea Thomas “Papa” Smith used to be the chief technology officer at Safemoon, an $8 billion decentralized finance (DeFi) project that went bankrupt in … Read more
A Bybit payroll fraud scheme funneled $5.7 million into a worker’s personal wallets, funding luxury splurges before authorities uncovered the deception and issued a prison sentence. Bybit Crypto Payroll Fraud Leads to Prison Sentence A former payroll employee has been sentenced to nine years and 11 months in jail for orchestrating a $5.7 million fraud … Read more
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from the past week. This edition examines how the recent debacle of Libra, a token endorsed by Argentine President Javier Milei, might become a positive event for the future of Argentina’s crypto policy. Latam Insights Encore: Javier Milei’s … Read more
The founder of Clucoin, Austin Michael Taylor, was sentenced to 27 months in prison for wire fraud, followed by three years of supervised release, and ordered to pay $1.14 million in restitution and forfeitures. Taylor, 41, from Sykesville, Maryland, used his social media influence to promote Clucoin, a Miami-based cryptocurrency project under his company, CLU … Read more
Bitcoin investors must navigate a complex tax landscape, including understanding taxable vs. non-taxable transactions, key regulations by jurisdiction and ways to stay compliant. Go to Source
The world’s largest illicit online marketplace keeps growing following the launch of its own crypto products, according to Elliptic. Go to Source
The judge ordered David Brend to report to a federal prison in Florida by Dec. 16 to serve his 120-month sentence. Go to Source
Gary Wang, one of Sam Bankman-Fried’s longtime friends and a key witness at his trial, is set to be sentenced on Nov. 20. Go to Source
Judge Jennifer Rochon initially allowed a delay in Gustavo Rodriguez’s sentencing to allow additional testimony but ultimately ordered the IcomTech promoter to prison. Go to Source
A cryptocurrency scam targeting Coinbase users has resulted in a significant theft of over $20 million. An Indian national, Chirag Tomar, was sentenced for orchestrating this scheme, where fake websites mimicking Coinbase led to victims surrendering credentials. U.S. authorities revealed how fraudsters used advanced tactics, including remote desktop access and posing as support agents, to … Read more