Bankrupt crypto lender Genesis has reached a settlement with defunct crypto hedge fund Three Arrows Capital (3AC) to pay $33 million in order to settle $1 billion in claims. The hedge fund’s collapse in June 2022 was a significant event in the crypto industry, and its claims against Genesis relate to transfers made before the […]
The United States Financial Services Committee (FSC) has scheduled a hearing on November 15th to delve into the issue of illicit activities within the cryptocurrency ecosystem. The hearing, titled “Crypto crime in context: breaking down the illicit activity in digital assets,” will feature prominent figures from the crypto industry as witnesses. Among them are Bill […]
SafeMoon, a crypto company, and its executive team have been charged by the SEC for offering unregistered securities and engaging in fraudulent activities. The SEC alleges that SafeMoon’s CEO, CTO, and creator wiped out billions in market capitalization, withdrew $200 million in crypto assets, and misappropriated investor funds for personal use. Despite claims that the […]
Ripple CEO Brad Garlinghouse has criticized the U.S. Securities and Exchange Commission (SEC) for its aggressive enforcement actions against the crypto industry, claiming that they have hindered innovation and failed to protect investors. Speaking at the Ripple Swell conference in Dubai, Garlinghouse called for a regulatory overhaul and a new framework that takes into account […]
Taiwanese prosecutors have identified two new suspects in the ongoing investigation of the JPEX scandal. Chang Tung-Ying, the chief partner of JPEX’s Taiwan Office, and JPEX lecturer Shih Yu-sheng are now under scrutiny for alleged fraud. The Taipei District Prosecutors Office has formally requested their custody, citing violations of the Banking Act and the Money […]
Former Ethereum lawyer Steven Nerayoff has announced that he will soon provide evidence to support his claims of a massive fraud within the Ethereum network. In an interview, Nerayoff stated that he would release the proof within the next four or five days. This revelation has sparked anticipation within the crypto industry, as investors eagerly […]
Attorney John Deaton, representing XRP holders in the Ripple vs. SEC legal battle, has presented a compelling argument suggesting that the anticipated $770 million disgorgement for Ripple is unlikely. Deaton’s prediction is based on several influential factors that could sway the court’s decision.One key factor Deaton highlights is the Supreme Court’s Morrison ruling, which limits […]
Crypto lender Hodlnaut is facing liquidation after the High Court of Singapore ended judicial management and ordered its closure. The company’s funds have been frozen since August 2022. Former interim judicial managers Aaron Loh Cheng Lee and Ee Meng Yen Angela have been discharged and appointed as liquidators. The decision to liquidate Hodlnaut was made […]
The former compliance chief of OneCoin, a cryptocurrency scheme that defrauded investors out of $4 billion, has pleaded guilty to wire fraud and money laundering charges. Irinia Dilkinska, the “Head of Legal and Compliance,” admitted to facilitating the laundering of millions of dollars of illicit profits obtained through OneCoin’s multi-level-marketing scheme. Despite her role in […]
Celsius Network, a failed crypto lending firm, has been given the green light to exit bankruptcy and implement its recovery plan. The plan involves transforming the company into a Bitcoin mining firm owned by its creditors. As part of the plan, Celsius will compensate users whose account balances were previously frozen by providing them with […]
