United States government prosecutors are seeking to prevent former Binance CEO Changpeng Zhao, also known as CZ, from leaving the country due to concerns about his potential flight risk. They have requested a review and reversal of a judge’s decision that would allow Zhao to return to his home in the United Arab Emirates (UAE) […]
Binance, one of the largest cryptocurrency exchanges, has reached a $4.3 billion settlement with the United States. This settlement is seen as a significant step towards the approval of spot Bitcoin exchange-traded funds (ETFs) by the country’s securities regulator. As part of the settlement, Binance has agreed to comply with Anti-Money Laundering and sanctions rules […]
Around $46 million worth of crypto assets has been stolen from the decentralized KyberSwap exchange in a recent exploit. The Kyber Network team alerted users to a security incident and advised them to withdraw their funds as a precaution. The attack impacted various wallets and involved multiple chains, including Arbitrum, Optimism, Ethereum, Polygon, and Base. […]
The U.S. Treasury has announced that the resolution reached with Binance, a cryptocurrency exchange, is the largest settlement in the history of the Financial Crimes Enforcement Network (FinCEN). The settlement amounts to a staggering $3.4 billion. Additionally, the Office of Foreign Assets Control (OFAC) has imposed a fine of $968 million on Binance, which is […]
Binance, one of the largest cryptocurrency exchanges, has recently pleaded guilty to violating US money laundering laws. The US Department of Treasury has accused the exchange of negligence in reporting illicit transactions that took place on its platform. As a result, Binance has agreed to settle charges amounting to $4.3 billion.The charges against Binance include […]
HTX, formerly known as Huobi Global, has suffered a significant loss of $13.6 million in a recent exploit on the HECO Chain bridge. The exploit, which occurred on November 22, resulted in the compromise of three hot wallets, leading to the swapping of user and exchange assets for Ether. The stolen funds were then distributed […]
Coinbase CEO Brian Armstrong has emphasized the importance of regulatory compliance in the wake of Binance’s recent troubles. In a statement on social media, Armstrong highlighted Coinbase’s commitment to compliance since its inception in 2012, stating that it was necessary to establish trust with customers and adhere to regulations. He noted that Binance’s issues validate […]
In a shocking development, the HECO Chain ecosystem has fallen victim to a major security breach, resulting in the unauthorized transfer of over $86.6 million in digital assets. Tron founder Justin Sun has taken immediate action, pledging full compensation for affected users and temporarily halting deposits and withdrawals while a thorough investigation takes place. This […]
Crypto entrepreneur Justin Sun has confirmed that two platforms linked to him, the HTX exchange and Heco bridge, have been targeted in a hacker attack. The attack resulted in a loss of over $100 million. The Heco bridge was drained of $87 million, with the stolen assets including various cryptocurrencies such as TUSD stablecoin, Chainlink’s […]
Binance, the world’s largest cryptocurrency exchange, allegedly experienced illegal growth in its early days by relying on its American clients. Despite not being a registered U.S. business, Binance targeted growth in the country, particularly among “VIP” users who drove the exchange’s trading volume and revenue. The government claims that Binance’s executives closely monitored and tracked […]
