Financial Scams and Security 69

Brazilian Congressional Committee Recommends Indictment of Binance CEO and Executives in Financial Pyramid Scheme Probe

A Brazilian congressional committee has recommended the indictment of Binance CEO Changpeng Zhao and three other executives following an investigation into financial pyramid schemes in Brazil. The committee’s 500-page report accuses Zhao and the executives of fraudulent management practices, operating without sufficient authorization, and offering securities trading without authorization. The report claims that Binance and […]

FTX Founder Faces Serious Allegations in Trial as Ex-Girlfriend Testifies

The trial of Sam Bankman-Fried, the founder of FTX, has entered its second week, with key witnesses testifying against him in court. Caroline Ellison, Bankman-Fried’s ex-girlfriend and former head of Alameda Research, FTX’s trading arm, made serious allegations during her testimony. According to Ellison, FTX utilized customer funds to support Alameda, and she, Bankman-Fried, and […]

Alameda Research CEO Reveals Fraudulent Activities in SBF Trial: Key Insights Uncovered

Alameda Research CEO Caroline Ellison’s testimony in the SBF trial has revealed shocking details about fraud and mismanagement within the company. Ellison admitted to committing fraud under the direction of Sam Bankman-Fried (SBF), the founder of FTX. She disclosed that SBF instructed her to divert billions of dollars from FTX customer funds to Alameda for […]

Former Alameda Research CEO Testifies to $14 Billion Crypto Fraud Scheme Led by Ex-Boyfriend

Former Alameda Research CEO Caroline Ellison testified in court, admitting to committing fraud alongside her ex-boyfriend, Sam Bankman-Fried. Ellison claimed that at Bankman-Fried’s direction, Alameda used over $10 billion of FTX customer funds to pay off its loans. She stated that Alameda received between $10 billion and $20 billion of FTX money in its bank […]

FTX Founder Seeks Clarity on Lawyers’ Role in $200 Million Sham

Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, is seeking to shed light on the involvement of lawyers in a legal battle involving his hedge fund arm, Alameda Research. Bankman-Fried’s attorneys are requesting permission to question FTX co-founder Gary Wang about the legal guidance he received when accepting loans from Alameda. Wang previously claimed that […]

Israeli Law Enforcement and Binance Collaborate to Freeze Crypto Funds Linked to Hamas

Israeli law enforcement, in collaboration with Binance, the world’s largest cryptocurrency exchange, has launched an operation to freeze crypto addresses associated with the terrorist group Hamas. The operation was led by the Israeli Police Department and the National Counterterrorism Headquarters, with support from Binance. The investigation revealed that Hamas had raised funds through crypto donations […]

Binance Assists Israeli Authorities in Freezing Hamas-Linked Crypto Accounts

Crypto exchange Binance has assisted Israeli authorities in freezing crypto accounts linked to the Palestinian militant group Hamas, according to the Israel Police. Binance worked with the police’s cyber unit and other intelligence agencies to identify and freeze Hamas’ crypto accounts, which were being used for crowdfunding donations through social media campaigns. This is not […]

Galxe to Compensate Users 110% for Recent Hack, Funds to be Returned on Oct. 16

Galxe, a cryptocurrency platform, has announced that it will be compensating users who lost funds in a recent hack by 110%. The company expressed its gratitude to those who have supported them during this difficult time. The affected users will have their funds automatically returned to their wallet addresses on October 16, unless they request […]

FTX Co-Founder Admits Fake Insurance Fund in Court Testimony

FTX co-founder Gary Wang testified in court that the “Insurance Fund” listed by the exchange was actually a fake amount generated using a random number generator. During the trial of former FTX CEO Sam Bankman-Fried, Wang revealed that the fund, which was supposed to contain $5.5 million and 5 million FTT tokens, did not actually […]

Former FTX Executives Testify Against Sam Bankman-Fried in Fraud Trial

Day 6 of the trial of Sam Bankman-Fried concluded with the testimony of former FTX chief technology officer Gary Wang and the beginning of former Alameda Research CEO Caroline Ellison’s testimony. Wang revealed that he admitted to committing crimes with the defendant during his first meeting with the government. He also mentioned that he was […]