Reported by Alex Dovbnya SafeMoon founders Braden John Karony, Kyle Nagy, and Thomas Smith have been arrested and charged with securities fraud, wire fraud, and money laundering. The charges stem from their alleged misuse of millions in investor funds for personal luxuries, according to a federal indictment that was unsealed earlier this Wednesday. Inside the fraud claims […]
Reported by ANDY GREENBERG HAMAS’ ATTACKS AGAINST Israel on October 7 have shifted the geopolitical landscape and triggered a looming Israeli ground assault in the Gaza Strip. Now the ripple effects are reaching the cryptocurrency industry, where they’ve become the United States Department of the Treasury’s rallying cry for a crackdown on cryptocurrency anonymity services. The US Treasury’s […]
Reported by OLIVER DALE A bipartisan group of over 100 lawmakers is pressuring the Biden administration to address the growing use of cryptocurrencies to finance terrorist activity. This comes after recent reports found the Palestinian militant group Hamas received tens of millions in crypto donations in recent years. The legislators, led by Senators Elizabeth Warren (D-MA) and […]
Reported by Kelby Vera Caroline Ellison took the stand against former FTX billionaire and ex-boyfriend Sam Bankman-Fried in a New York court on Tuesday, offering damning testimony on the fifth day of his fraud trial. “Sam directed me to commit these crimes,” she said. He “directed us to take customer money to pay loans.” Ellison served as […]
Reported by Steven Stradbrooke Binance’s history of facilitating transactions with both Iran and Hamas will increase the exchange’s ‘crypto’ pariah status and doom any chance of negotiating a favorable legal settlement with U.S. authorities. The world is still struggling to grasp the full ramifications of last weekend’s surprise attack on Israel by the Hamas terror […]
Reported by HELEN PARTZ AirBit Club co-founder Dos Santos is now the last AirBit defendant not yet sentenced but is scheduled to learn his fate on Oct. 4, 2023. The United States District Court for the Southern District of New York is progressing with the sentencing procedure for key individuals behind the cryptocurrency Ponzi scheme […]
Reported by Taylor J. Mustafa Due to burgeoning concerns of financial crime, and increased activity of fraudsters and scammers, JP Morgan’s Chase UK bank has made the decision to ban their customers from making future cryptocurrency payments. The company states that the ban, which will come into effect from October 16th, will apply to all […]
Reported by Low De Wei, Chanyaporn Chanjaroen, and Andrea Tan Singapore banks are increasing scrutiny of some Chinese-born clients with other citizenships, following last month’s crackdown on money laundering involving more than S$2.4 billion ($1.8 billion) worth of assets that has rattled the Asian financial hub. Some lenders have been reviewing new account openings and transactions with […]
Reported by Charles Gasparino When you think of a “banana republic,” you think of corrupt dictators someplace distant, where the people in power control the economy and jail their political opponents. Places like this still exist in the world — and believe it or not, right here in the good ’ol US of A. Securities […]
Reported by Jennifer Sor Decentralized crypto exchanges are a hotbed for a certain type of fraud known as wash trading, according to a new report from Solidus Labs. The blockchain research firm found that at least $2 billion worth of cryptocurrency on ethereum-based decentralized exchanges have been wash traded since September 2020. The fraudulent practice […]
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