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An investigation into the law firm Sullivan & Cromwell LLP, which worked with the now-defunct crypto exchange FTX, revealed that the firm was neither involved in the fraud nor aware of the financial troubles that plagued the collapsed trading platform. Sullivan & Cromwell Cleared of Negligence in FTX Collapse Following a recent investigation, former U.S. … Read more
A woman has been sentenced to nearly seven years in prison for laundering bitcoin tied to a £5 billion fraud in China. Authorities seized over 61,000 bitcoin during their investigation, now worth over $4 billion. The woman denied all charges, claiming she was manipulated by a “mastermind.” 61K Bitcoin Seizure Leads to Jail Sentence A … Read more
Former Heartland Tri-State Bank CEO Shan Hanes pleaded guilty on Thursday to embezzling $47.1 million for personal cryptocurrency purchases, leading to the bank’s collapse. From May to July 2023, Hanes executed at least 10 wire transfers from the Elkhart-based bank to cryptocurrency accounts. The bank’s failure resulted in a total loss of equity for investors. … Read more
Hong Kong police have arrested three men at a currency exchange shop in Tsim Sha Tsui, a major tourist area, for allegedly presenting “hell money” to a customer, leading the customer to transfer approximately HK$1 million ($128,206) worth of cryptocurrency in exchange for cash. The suspects, aged between 31 and 34, were detained on suspicion … Read more
The attorney general’s office filed a lawsuit against Genesis in October 2023 for allegedly defrauding investors through the Gemini Earn program. Go to Source
Ten days ago, the FTX estate overseeing the bankrupt company’s proceedings informed customers they would receive more than 100% repayment. Following this announcement, the exchange token FTT from the defunct trading platform rose above $2 per unit. Astonishingly, despite being tied to a failed crypto exchange, this token still holds a market valuation of $535 … Read more
The Ontario Securities Commission (OSC) announced on May 15 that two Ontario residents have been charged with offenses under the Criminal Code of Canada as part of Project Swan, a joint investigation by the Durham Regional Police Service (DRPS) and the OSC. Aiden Pleterski, self-proclaimed “Crypto King,” is charged with fraud over $5,000 and laundering … Read more
Pleterski and an associate were arrested months after multiple investor complaints and months of police investigation. Go to Source
Taiwan’s Ministry of Justice proposed four amendments to the country’s AML regulations focused on cryptocurrency firms that plan to impose hefty penalties for noncompliance. Go to Source
DWF Labs was first hit by market manipulation accusations in September 2023. Go to Source
