SafeMoon, a decentralized finance project, has been charged by the United States Securities and Exchange Commission (SEC) for security rules violations and fraud. The project was exploited in March, resulting in a net loss of $8.9 million in BNB. The funds associated with the exploit have been moving through centralized exchanges, which could be crucial […]
The recent alleged scandal involving crypto exchange JPEX in Hong Kong has not deterred the government from pursuing its Web3 vision for the region. Despite the financial scandal and allegations of fraud, the government remains determined to grow the Web3 market. Hong Kong plans to tighten its crypto regulations in response to JPEX’s actions, with […]
The trial of Sam Bankman-Fried (SBF) reached a critical point as both the prosecution and defense presented their closing arguments to the jury. The prosecution portrayed SBF as a serial liar motivated by greed, accusing him of knowingly misappropriating billions in customer deposits. They emphasized the weight of the evidence presented throughout the trial and […]
Lazarus Group, a notorious cybercrime organization, has recently targeted a cryptocurrency exchange using a new form of malware called “KANDYKORN.” The attack began when members of the group posed as blockchain engineers and convinced the exchange’s engineers to download a program disguised as an arbitrage bot. Once executed, the program downloaded a malicious file called […]
SafeMoon and its executives, including CEO John Karony, have been charged by the SEC and DOJ in an alleged $200 million fraud scheme. The SEC claims that SafeMoon sold its cryptocurrency, SFM, through a fraudulent scheme and described SFM as a security asset. The SEC also alleges that SafeMoon misled users about the safety of […]
The United States Securities and Exchange Commission (SEC) has charged SafeMoon and three of its executives with fraud and unregistered securities sales related to its SafeMoon token. The SEC alleges that Kyle Nagy, the creator of SafeMoon, along with CEO John Karony and chief technology officer Thomas Smith, withdrew $200 million from the project and […]
In a significant development, the founders of SafeMoon, a decentralized finance digital asset, are facing criminal charges in the United States. Braden John Karony and Thomas Smith have been arrested, while Kyle Nagy remains at large. The US Attorney’s Office for the Eastern District of New York has charged them with conspiracy to commit wire […]
The trial of former FTX CEO Sam “SBF” Bankman-Fried is currently underway in New York, and Cointelegraph reporters are providing live coverage of the proceedings. The trial has reached its final stages, with the prosecution delivering its closing arguments on November 1. Bankman-Fried is facing seven counts of fraud and conspiracy to commit fraud, which […]
Amir Bruno Elmaani, the founder of Oyster Protocol, has been sentenced to four years in prison for tax evasion. Elmaani, also known as Bruno Block, pleaded guilty to the charges in April. He was accused of offering unregistered initial coin offerings (ICOs), self-minting tokens, and engaging in a pump-and-dump scheme. The US Securities and Exchange […]
The United States Commodity Futures Trading Commission (CFTC) has reported that the majority of whistleblower tips it received this year were related to the cryptocurrency industry. CFTC Commissioner Christy Goldsmith Romero described the crypto industry as being plagued by “pervasive fraud and other illegality.” The agency received a total of 1,530 tips and paid out […]
