Blockchain gets down and dirty fighting fraud at California’s DMV
It’s not the world’s first chain-based property transfer protocol, but it could be one of the most impactful, given its scale and prominence. Go to Source
Fraud
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Crypto coalition calls for ‘clear rules of the road’ from Biden, Harris
Some of the CMIC members in support of the letter include Robinhood, BitGo, OKX, Gemini, Chainalysis, Elliptic, TRM, Kaiko and Matrixport. Go to Source
Homeland Security leads to man charged over crypto recovery scam
At least 175 people claim they engaged Coin Dispute Network to help them recover funds but never saw a single cent returned. Go to Source
China’s crypto ban fails to stop scams as Shaanxi police arrest 4 suspects
Mainland China quickly and effectively addresses crypto fraud incidents despite banning crypto transactions a few years ago. Go to Source
Washington Regulator Warns of Miami Equity Fund 005 Crypto Fraud
The Washington State Department of Financial Institutions (DFI), Securities Division, has warned about crypto investment fraud following a complaint from a resident regarding their investment in the Miami Foundation Equity Fund 005 (or Miami Equity Fund Institute 005). The investor had deposited funds on the now-inaccessible Vims.one platform through a Whatsapp group led by “Mark” … Read more
Riot subsidiary Whinstone US sues former JV partner over revenue flow
The partners at the Texas facility had troubled relations almost from their start in 2020. Go to Source
South Korean government to launch crypto transaction monitoring system
Crypto exchanges subject to a new South Korean law have implemented a system allowing authorities to receive reports on suspicious transactions. Go to Source
SEC files lawsuit against FTX-linked bank, alleging fraud
Enforcement director Gurbir Grewal said Silvergate allegedly “failed to detect nearly $9 billion in suspicious transfers among FTX and its related entities.” Go to Source
Tron Founder Justin Sun Wins Landmark Defamation Case Against Chinese Media Group
A court in China has ruled in favor of Justin Sun in his defamation lawsuit against the Chongqing Business Media Group. In its verdict, the court stated that claims of Sun’s involvement in insider trading, fraud, and money laundering were “entirely unsubstantiated.” The Chongqing Business Media Group subsequently removed all of its false content and … Read more
Crypto losses to deep fakes could reach $25B in 2024 — Bitget
Criminals are using deep fakes more than ever, causing $79.1 billion in losses since 2022. Go to Source
