Cryptocurrency exchange KuCoin has reached a $22 million settlement with the state of New York following allegations of illegal operation and misleading investors. The settlement includes $16.7 million in refunds for New York-based KuCoin investors, as well as a $5.3 million fine paid directly to the state. KuCoin CEO Johnny Lyu confirmed the settlement on […]
The decentralized exchange (DEX) of cryptocurrency exchange OKX, known as OKX DEX, experienced a hack resulting in a loss of $2.7 million. The hack occurred after the private key of the proxy admin owner was leaked. The issue began on December 12, 2023, when the proxy admin owner upgraded the DEX proxy contract. Users began […]
KuCoin, one of the leading cryptocurrency exchanges, has agreed to pay $22 million and halt trading activities in New York to settle a lawsuit brought against it by the state. As part of the settlement, KuCoin will refund $16.7 million to approximately 177,800 New York investors and pay a $5.3 million fine to the state. […]
The United States Securities and Exchange Commission (SEC) has served a lawsuit to HEX founder Richard Schueler, also known as Richard Heart, at his residence in Helsinki, Finland. The SEC alleges that Heart made over $1 billion by selling unregistered securities, including Hex, PulseChain (PLS), and PulseX (PSLX). Additionally, the agency claims that Heart defrauded […]
The U.S. Department of Justice (DOJ) has indicted two individuals for allegedly operating a $25 million artificial intelligence (AI) crypto-trading Ponzi scheme. Australian national David Gilbert Saffron and Los Angeles resident Vincent Anthony Mazzotta Jr. are accused of running trading programs that promised high-yield profits through an AI automated trading bot.However, instead of investing the […]
Terraform Labs co-founder Do Kwon’s custody in Montenegro has reportedly been extended by two months, according to a spokesperson for the High Court. Kwon, along with Terraform Labs CFO Han Chang-joon, was arrested in March for traveling with forged documents. While Kwon’s four-month sentence is coming to an end, he will not be released as […]
The ongoing bankruptcy case of FTX, a defunct crypto exchange, has taken a complex turn with the Internal Revenue Service (IRS) seeking around $24 billion from the exchange. This amount has been reduced from the initial claim of $44 billion filed by the IRS in April. FTX lawyers are disputing the method used by the […]
The US authorities have proposed a bipartisan Digital Asset Anti-Money Laundering Act in response to the growing threat posed by the crypto industry to financial stability. The Act has gained support from a coalition of senators, including Elizabeth Warren, who expressed excitement about the new senators joining the fight against the illicit use of crypto. […]
The Korean Financial Services Commission has introduced new investor protection laws to enhance the security of cryptocurrencies in South Korea. As part of these regulations, Korean Virtual Asset Service Providers (VASPs) will now be required to store 80% of their digital assets in cold wallets. This move aims to safeguard investors’ funds by reducing the […]
Crypto investors have been withdrawing their assets from the crypto exchange HTX (formerly known as Huobi) after a recent exploit that resulted in a loss of $30 million. Since the exchange resumed its services on November 25th, there has been a significant outflow of funds, totaling $258 million between November 25th and December 10th.According to […]
