The Department of Justice (DOJ) has presented a clear narrative in the case against Sam Bankman-Fried. According to the DOJ, Bankman-Fried allegedly took billions of dollars from his customers and investors. He then instructed his close friends to engage in activities that facilitated his access to these funds. Bankman-Fried proceeded to gamble these billions on […]
A commissioner from the United States Commodity Futures Trading Commission (CFTC) has criticized Voyager Digital for its mishandling of customer funds, resulting in the loss of billions of dollars. Commissioner Kristin Johnson accused Voyager of misleading practices, neglecting warning signs, and failing to conduct proper due diligence to protect customers. She stated that Voyager turned […]
Terraform Labs, founded by Do Kwon, has accused market maker Citadel Securities of intentionally causing the depeg of its stablecoin, TerraUSD Classic (USTC), in 2022. Terraform Labs has filed a motion in a US District Court to compel Citadel Securities to produce documents related to its trading actions during the time of the depeg. The […]
Decentralized finance (DeFi) platform Platypus Finance has suffered another flash loan exploit, resulting in a loss of over $2 million. The hack was first reported by blockchain security firm PeckShield on October 12th, prompting the platform to temporarily suspend all pools. The attackers targeted the AVAX-sAVAX liquidity pool. CertiK’s investigation revealed that approximately $1.3 million […]
A stablecoin holder on the Polygon network suffered a significant loss of over $100,000 after panic selling their USDR tokens, which depegged from the US dollar on October 11. The holder swapped 131,350 USDR for zero USDC, allowing a MEV bot to profit $107,000. The USDR stablecoin is issued by Tangible protocol, a decentralized finance […]
Former CEO of Miami-based investment firm, Peter Kambolin, has pleaded guilty to a conspiracy to commit commodities fraud involving crypto futures contracts. The United States Department of Justice revealed that Kambolin operated a “cherry picking” scheme, misleading investors by marketing his firm as offering algorithmic trading strategies involving futures contracts, including cryptocurrencies and commodities. However, […]
The US Commodity Futures Trading Commission (CFTC) has filed a complaint against Voyager Digital and its former CEO, Stephen Ehrlich, alleging fraud and registration failures. The CFTC claims that Ehrlich falsely marketed the Voyager platform as a safe haven for high-yield returns, deceiving customers into purchasing and storing digital assets. The lawsuit seeks penalties including […]
Caroline Ellison, a former top deputy to FTX founder Sam Bankman-Fried (SBF), concluded her testimony on the seventh day of the SBF trial. Her detailed account shed light on her complex relationship with SBF, both personally and professionally. While her testimony did not bring any significant breakthroughs for SBF’s defense, it provided insights into the […]
The BNB Chain recently experienced a significant flash loan attack, resulting in a massive arbitrage profit of $1.575 million for the attacker. The attack took place on the Pancakeswap DEX network and only cost the perpetrator a fee of $4.16. The MEV Bot responsible for the attack manipulated the price of the BH token, exploiting […]
A stablecoin called Real USD (USDR), which is built on the Polygon (MATIC) layer-2 scaling solution and backed by real estate assets, has experienced a significant loss in value after detaching from the US dollar. The decentralized autonomous organization (DAO) behind USDR, Tangible, has acknowledged the setback and outlined a plan to assist affected investors. […]
