Trader claims to lose $310K on dodgy exchange pitched in LinkedIn request
The investor said they learned about the exchange from a “random friend request on LinkedIn.” Go to Source
Fraud
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Chinese court sentences gang for money laundering using digital yuan
The Chinese CBDC’s “controllable anonymity” seems to be very highly controlled. Go to Source
Avalanche Core wallet gets Blockaid security integration
The security integration uses Blockaid’s threats database to screen for increasingly sophisticated phishing scams and exploits impacting Web3 users. Go to Source
First Civil Lawsuit Filed Against Crypto Platform JPEX for Alleged Fraud
Two citizens, Chan Wing-yan and Herbert Lee Sun-him, have filed the first civil lawsuit against the cryptocurrency platform JPEX, seeking to recover approximately 240,000 units of tether, worth about HK$1.85 million. This marks the first civil lawsuit since the alleged fraud was uncovered nine months ago. The plaintiffs allege unauthorized transfers of their funds shortly … Read more
Hong Kong Police Advisory Group Warns of Surge in Digital Asset-Linked Crime
The Hong Kong Technology Crime Police Advisory Group has warned about the rise of digital asset-linked crime, calling for the establishment of a regulatory system to identify and eliminate risks associated with this tech. According to police data, almost $550 million was involved in digital asset crimes during 2023, with 90% of these cases involving … Read more
Blockchain Sleuth Zackxbt Called out Floyd Mayweather on Token Scams
Blockchain sleuth Zackxbt called out former boxing world champion Floyd “Money” Mayweather about his fraudulent token activities. Answering a now-deleted post on X where Mayweather promoted a Solana address for his token, Zackxbt asked if the boxer deserved a 13th chance, given the numerous failed and disappeared projects he had promoted before. Zackxbt stressed that … Read more
Estonian Nationals Extradited to US for $575M Crypto Fraud
Two Estonian nationals have been extradited from Estonia to the U.S. to face charges for their roles in “a massive multi-faceted cryptocurrency Ponzi scheme,” according to an announcement by the U.S. Department of Justice (DOJ). Sergei Potapenko and Ivan Turõgin are accused of operating a $575 million Ponzi scheme involving the fraudulent cryptocurrency mining service … Read more
Terraform Labs, Do Kwon Reach Preliminary Settlement With SEC
Singapore-based Terraform Labs and its founder Do Kwon have reportedly reached a preliminary settlement with the U.S. Securities and Exchange Commission (SEC) after being accused of misleading cryptocurrency investors before the 2022 collapse of terrausd (UST), the project’s now-defunct algorithmic stablecoin. According to a court filing, the settlement terms are currently undisclosed and the alleged … Read more
Texas Issues Emergency Cease and Desist Against Arkbit’s Crypto Operations
The Texas State Securities Board has issued an Emergency Cease and Desist Order against Arkbit Capital and its affiliates, Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining. These companies were found operating a fraudulent MLM cryptocurrency investment scheme. Promising daily returns of 1.6-2.8% for 120 days on investments between $50 and $49,999, they lured … Read more
Former FTX Executive Ryan Salame Sentenced to 7.5 Years for Criminal Charges
Former FTX executive Ryan Salame was sentenced to seven and a half years in prison by Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York after pleading guilty to criminal charges, including engaging in an unlawful political influence campaign and operating an unlicensed money transmitting business. Salame, who once … Read more
