About two weeks ago, the crypto space faced another alleged rug pull. This time, the gambling platform and blockchain casino ZKasino was at the center of the accusations, with many investors claiming their money was gone. Despite the allegations, ZKasino continued to post X updates before disappearing from the public eye with investors’ money. The […]
While Tether (USDT), the world’s leading stablecoin, has been pivotal in facilitating transactions across the blockchain space, a recent analysis by blockchain analytics firm TRM Labs sheds light on a less desirable aspect of USDT’s ubiquity: its significant use within illicit crypto flows during the past year. This development unfolds against declining overall volumes of […]
The US Securities and Exchange Commission (SEC) has taken legal action against 17 individuals allegedly involved in a Crypto Ponzi scheme that defrauded more than 40,000 victims and amassed $300 million. As per the SEC’s press release, Houston-based CryptoFX LLC operated the scheme, primarily targeting Latino investors in the United States and two other countries. […]
The Hong Kong Securities and Futures Commission (SFC) has issued an alert on a suspected fraudulent platform impersonating the presence and operations of a popular cryptocurrency exchange MEXC. This development comes from a joint operation between the Hong Kong regulator and the local police force aimed at uncovering illicit activities of virtual asset trading platforms […]
According to a Bloomberg report, the former chief executive officer of a Kansas bank has been charged with embezzling $47.1 million from the institution to purchase crypto assets. The Heartland Tri-State Bank’s failure has shaken the tight-knit community of Elkhart, as investors face significant losses. Shan Hanes, who previously held leadership roles at the Kansas […]
In a significant development, the Department of Justice (DOJ) recently announced criminal charges against two individuals. It secured a guilty plea from a third person involved in a global crypto Ponzi fraud scheme known as HyperFund, among other aliases. The Securities and Exchange Commission (SEC) also filed a related civil action, charging two individuals involved […]
In addition to a long list of court filings, FTX investors have filed a new lawsuit against the Mercedes F1 team and Major League Baseball, accusing them of aiding the exchange’s fraud schemes by promoting the exchange’s brand and logo. FTX Investors Sue Crypto Exchange Promoters A group of FTX users recently filed a twin […]
Hong Kong’s Securities and Futures Commission (SFC) has taken decisive action against what it suspects to be a fraudulent crypto asset trading platform. The SFC flagged the company at the center of these allegations, Hounax, earlier this month, marking a crucial step in the city’s ongoing efforts to combat crypto-related scams. The case gained further […]
Bitcoin Bandit: Inmate Pulls Off Daring $1.2 Million Bitcoin Heist From Behind Bars | Bitcoinist.com
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According to recent reports, notorious hacker Srikrishna Ramesh (Sriki) has been accused of orchestrating a Bitcoin (BTC) scam from a quarantine cell in India’s Parappana Agrahara prison. The incident involved the transfer of Bitcoin worth ₹10 crore or $1.2 million to different wallets using a smuggled laptop. The revelation has sparked a high-profile investigation by […]