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
Fraud
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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
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
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