In a recent fallout, cryptocurrency giant Binance finds itself embroiled in a controversy surrounding the Indian exchange WazirX. The conflict escalated following a shocking $235 million hack that hit WazirX in July, leading to significant losses for its users. On September 17, Binance publicly responded to WazirX co-founder Nischal Shetty’s claims that sought to implicate
Exchanges
Changpeng Zhao, the prominent figure behind Binance, has found himself at the center of significant legal scrutiny that has culminated in a notable prison sentence. As of September 29, Zhao is set to be released from U.S. custody after serving a four-month sentence, a journey marred by allegations that stem back to late 2022. This
The financial world was rocked by the fall of FTX, a cryptocurrency exchange co-founded by Sam Bankman-Fried (SBF). His conviction for fraud and conspiracy, which culminated in a 25-year prison sentence, has raised serious questions about the judicial process involved. Filed on September 13, 2023, SBF’s appeal contends that the trial was undermined by significant
Ryan Salame, a former executive of the now-defunct cryptocurrency exchange FTX, is embroiled in a legal quagmire that reveals intricate layers of deception, potential perjury, and serious implications for campaign finance norms in the United States. His recent admissions during a court session have unveiled not only his contradictions but also raised questions regarding the
Recently, Jameson Lopp, co-founder of CasaHODL, has brought attention to a dangerous phishing scam that is specifically targeting users of the cryptocurrency exchange Gemini. This scam involves sending fake data breach notices to users, claiming that their funds are at risk due to a security breach. The scammers then instruct users to transfer their funds
In response to the hack on WazirX’s systems on July 18, leading global auditor Grant Thornton conducted a comprehensive review of Liminal’s infrastructure. The incident prompted Liminal to launch an internal investigation and engage independent auditors to assess potential vulnerabilities within its own platform. Despite the losses of over $235 million, the firm confirmed that
The cryptocurrency exchange industry in the US has witnessed significant changes in recent months, with Coinbase experiencing a sharp decline in market share. According to a report by research firm Kaiko, Coinbase, which dominated over half of the US crypto market earlier this year, has seen its market share fall to 41% in early September,
India’s Financial Intelligence Unit (FIU-India) has been in the spotlight recently due to its approval process for offshore cryptocurrency exchanges. The FIU is reportedly set to approve two more exchanges to resume operations in the country by the end of the 2025 fiscal year. This is following a thorough review of their compliance with anti-money
The Nigerian court recently decided to postpone the ruling on the bail application for Tigran Gambaryan, a detained Binance executive, until October 9th. This decision was made by Judge Emeka Nwite on September 4th after hearing arguments from both Gambaryan’s lawyer, Mark Mordi, and the prosecuting counsel, Ekele Iheanacho, who opposed the bail request. Gambaryan’s
Recently, a federal judge made a significant ruling regarding a proposed class action lawsuit against Coinbase. The lawsuit accuses the largest US crypto exchange of misleading shareholders about the possibility of being sued by the SEC. The judge, Brian Martinotti, found that the plaintiffs adequately demonstrated that Coinbase and its executives had defrauded them by