The recent ruling by Judge Lewis A. Kaplan sentencing FTX founder Sam Bankman-Fried to 25 years in prison has sent shockwaves through the financial world, with U.S. Attorney Damian Williams stating that it will send “an important message” to potential fraudsters. This harsh sentence, accompanied by an order for Bankman-Fried to forfeit over $11 billion,
Blockchain
In the first quarter of 2024, the Web3 space faced significant challenges with $336 million lost to hackers and fraudsters. While this number represents a 23% decrease compared to the previous year, it is still a cause for concern. A report by Immunefi highlighted the vulnerability of Web3 protocols, with almost half of the capital
The recent arrest of a South Korean civil servant on charges of committing crypto-related fraud and carrying out voice phishing attacks has once again brought to light the concerning trend of illicit activities in the crypto space. The accused, a level six district office official in her 50s, allegedly received money from multiple victims and
Recently, the web3 gaming platform Munchables fell victim to a significant security breach, resulting in the loss of $62.5 million in Ethereum due to an exploit on the Blast network. The breach was confirmed by Munchables in a social media post, indicating that the incident occurred on March 26. This security breach serves as a
The recent news surrounding crypto exchange KuCoin and its founders has sent shockwaves throughout the digital currency world. The Department of Justice (DoJ) has charged KuCoin and two of its founders, Chun Gan and Ke Tang, for operating as an illegal exchange in the USA. The charges also include allegations of failing to implement anti-money
The recent case of fraudsters in South Korea deceiving a senior citizen with promises of lucrative cryptocurrency investments has shed light on the dark side of the crypto world. The fraudsters, both in their 20s and 30s, managed to steal a whopping $4.1 million from the victim by offering unrealistic returns on their investments. The
The recent announcement by the Philippines Securities and Exchange Commission (SEC) to block local access to Binance has sent shockwaves through the crypto community. This decision was made due to Binance’s continuous offering of investment and trading opportunities to Filipinos without the necessary license from the commission, as stated in the notice published by the
Marathon Digital Holdings CEO, Fred Thiel, has issued a warning regarding the upcoming Bitcoin halving event in April. He pointed out that smaller miners in the industry are likely to face financial strain due to a lack of access to capital and equipment financing compared to larger mining companies. This means that smaller miners may
Recently, there have been claims circulating within the cryptocurrency industry that the European Union has banned anonymous crypto wallets and transactions. However, industry expert Patrick Hansen has stepped forward to debunk these claims. He clarified that the recent anti-money laundering (AML) law passed by the EU does not specifically target cryptocurrencies. In fact, he emphasized
The Russian Ministry of Finance has expressed its desire to resolve the crypto policy disagreements with the nation’s Central Bank. Finance Minister Anton Siluanov mentioned that he is confident that both entities will reach an agreement soon. This development comes after years of an impasse between the Ministry of Finance and the Central Bank regarding