Do Kwon pleads guilty on two charges, faces potential 12-year sentence

Do Kwon pleaded guilty to federal fraud charges in Manhattan court, with his sentencing set for Dec. 11. As Inner City Press reported on Aug. 12, Kwon admitted he orchestrated a cryptocurrency scheme that prosecutors allege caused over $40 billion in losses when LUNA and TerraUSD tokens collapsed in May 2022.

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Trump’s Meme Coin Dinner is Legal, But the POTUS Might be Risking a Lawsuit

Trump’s promotion of a meme coin contest involving exclusive perks has raised legal and ethical questions, especially over the potential for fraud and market manipulation. If he fails to deliver, legal action may follow, highlighting the need for stricter crypto regulations.

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CEL dips 10% as court schedules May 8 sentencing for ex-Celsius CEO Mashinsky

The former Celsius CEO, Alex Mashinsky, faces a sombre reality as the US court confirmed his May 8 sentencing in the latest filing. United States authorities accused Alex Mashinsky of various crimes, including wire fraud, commodities fraud, and manipulating the native CEL’s price in July 2023.

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US Justice Department (DOJ) Will Stop Investigating Crypto Exchanges and Wallets

The DoJ's new directive to stop targeting crypto exchanges, mixers, and wallets has sparked both relief and concern. While it may offer operational freedom, critics fear it could fuel fraud and criminal activity.

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NY State Bill Defines Civil Fine of Up To $5 Million for Crypto Scams

New York’s crypto bill proposes defining scams and fraud while balancing penalties. The crypto community is hopeful, but the bill may face obstacles in passing. The post NY State Bill Defines Civil Fine of Up To $5 Million for Crypto Scams appeared first on BeInCrypto.

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SEC downsizes its crypto enforcement unit under Trump administration

The SEC's crypto unit downsizing may slow fraud response, impacting investor protection and potentially altering the crypto regulatory landscape. The post SEC downsizes its crypto enforcement unit under Trump administration appeared first on Crypto Briefing.

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SEC staff must obtain top-level approval before launching investigations under new leadership

The new SEC approval process may slow investigations, potentially allowing fraud to go unchecked, while aiming to prevent unwarranted probes. The post SEC staff must obtain top-level approval before launching investigations under new leadership appeared first on Crypto Briefing.

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Trump’s SEC plans crypto overhaul, may freeze crypto lawsuits: report

The U.S. SEC is set for a significant shift in cryptocurrency policy under the incoming Trump administration. According to Reuters, the SEC is preparing to review its enforcement actions, potentially freezing or even withdrawing cases that do not involve fraud…

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SEC Sues Touzi Capital Over $115 Million Securities Fraud – Details

The US Securities and Exchange Commission (SEC) has filed a lawsuit against Touzi Capital LLC, a crypto mining company, and its managing member Eng Taing over multiple securities law violations. The US securities regulator claims the defendants allegedly deceived investors and misappropriated funds to the tune of $115 million.

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Warning! Most Cloud Mining Platforms Are Scams

'Cloud mining' schemes are among the most prevalent forms of crypto fraud. While there may be legitimate platforms, Brave New Coin's research over several years has not identified any cloud mining operations that weren't fraudulent.

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SEC charges Novatech, company founders, promoters with fraud

Novatech claimed funds were stolen via a cyberattack in May 2023 and reassured customers the company was working to recover the assets.

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Ex-FTX execs Nishad and Gary to be sentenced in October and November

Nishad Singh and Gary Wang to be sentenced for FTX fraud on Oct. 30 and Nov. 20. Their cooperation in Sam Bankman-Fried’s trial may lead to reduced sentences. Ryan Salame got 90 months for non-cooperation; Bankman-Fried got 25 years.

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Crypto losses from fraud and hacks declined 12% in May — Immunefi

The decline in crypto scams and frauds continued, with only $52 million lost in May compared to $59 million the previous year.

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LUNA price skyrockets as Terraform Labs, Do Kwon agree to settle SEC fraud case

Terraform Labs and its founder Do Kwon have agreed to a tentative settlement with the US Securities and Exchange Commission (SEC). According to court documents filed on Thursday, the Singapore-based crypto entity and Do Kwon had reached the agreement with the US regulator to settle the fraud case on May 29. The development follows a […]

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ZKasino Users Urged to Reclaim Ethereum Amid Fraud Investigation

ZKasino users can reclaim their ETH deposits within a 72-hour window starting May 28, amidst controversy and fraud allegations. Dutch authorities arrested a man linked to ZKasino, seizing assets worth €11.

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South Korea Busts Crypto Scam: 19 Arrested In ‘Reading Room’ Fraud

South Korean law enforcement has struck a blow against social media-fueled crypto scam with the arrest of 19 individuals linked to a deceptive “crypto reading room.” The Daegu Police Agency’s raid, which unfolded on May 21st, exposed a manipulative scheme that preyed on more than 300 unsuspecting investors, swindling them out of a staggering $19 […]

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25-year old Canadian crypto guru charged for $30m ponzi

Canada’s self-named ‘crypto king’ has been has been charged with $30 million fraud. According to a May 15 announcement from the Ontario Securities Commission, Two Canadian men, namely Aiden Pleterski, 25, and Colin Murphy, 27, have been charged for duping…

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DOJ charges 2 people over $25 million ETH theft via MEV exploit

The DOJ arrested and charged two individuals on May 15 over an alleged $25 million MEV exploit that occurred on the Ethereum blockchain. The defendants — brothers Anton and James Pepaire-Bueno — face three charges of conspiracy, wire fraud, and money laundering, each with a potential 20-year sentence.

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Chinese authorities arrest six suspects in $300m crypto fraud case

Authorities in China have arrested six individuals suspected of engaging in illicit cryptocurrency transactions amounting to 2.94 billion yuan — worth roughly $300 million. According to a May 10 report by local media outlet Chinanews, the suspects were taken into…

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Former Cred execs face wire fraud and money laundering charges

After their initial court appearances on May 2, the former CEO and chief financial officer of Cred must enter their plea by May 8.

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SEC Asks Judge To Fine Terraform Labs And Do Kwon $5.3 Billion In Fraud Case

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Avi Eisenberg May Testify in $110M Crypto Fraud Trial, Defense Says

The crypto trader is facing up to 20 years in jail if convicted on all counts.

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SEC continues probe into Binance.US for potential fraud similar to FTX case

The U. S. Securities and Exchange Commission (SEC) continues its investigation to uncover proof that Binance. US may have had a backdoor mechanism akin to FTX’s, allowing potential control over customer assets.

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Sam Bankman-Fried's Defense Team Makes Last-Ditch Bid to Get 'English Law' Detail in Jury Instructions

A set of filings from Sam Bankman-Fried's defense team late Monday shows his attorneys still hope to clarify that English law governed FTX's terms of service – which may have implications on the fraud charges.

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Terraform Labs, Do Kwon file motion to dismiss SEC lawsuit

Terraform Labs and its co-founder Do Kwon filed a motion for summary judgment with a federal court, asking the judge to dismiss the SEC’s securities fraud lawsuit against it. Terraform Labs collapsed in May 2022 after its native token LUNA lost 99% of its value when the linked algorithmic stablecoin UST lost its peg to […] The post Terraform Labs, Do Kwon file motion to dismiss SEC lawsuit appeared first on CryptoSlate.

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Caroline Ellison & SBF Relationship Details Unveiled in Salacious Memos

Memos between former FTX CEO Sam Bankman-Fried and his ex-lover Caroline Ellison have been revealed as his trial begins. Ellison, who has pleaded guilty to related fraud charges, may testify against him.

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Court denies Sam Bankman-Fried’s motion for pre-trial release yet again

In a familiar refrain, Sam Bankman-Fried has been denied release on bail ahead of his criminal trial scheduled to begin next week. Judge Lewis Kaplan explained that the former CEO may face a “very long sentence” if convicted at his fraud trial set to commence next week.

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Here’s How FTX Founder Sam Bankman-Fried’s Trial May Play Out

FTX founder and onetime CEO Sam Bankman-Fried will stand trial in just under two weeks to defend himself against allegations he deliberately committed fraud and conspired to defraud crypto investors and customers in FTX and Alameda Research.

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Cryptocurrency Fraud Makes Headlines in Canada as Digital Asset Ownership Declines

More examples of crypto fraud may be putting Canadians off digital assets. The post Cryptocurrency Fraud Makes Headlines in Canada as Digital Asset Ownership Declines appeared first on BeInCrypto.

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UK may ban crypto investment cold calls

The UK government has proposed banning unsolicited cold calls for all consumer financial products and services, including cryptocurrencies. HM Treasury released a consultation document this week. The ban aims to protect consumers from investment fraud, which has surged as criminals…

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UK treasury eyes cold calling ban impacting crypto industry

U. K. regulators want to ban cold calls for consumer financial services, and the crypto sector will likely be one of the affected industries. This is part of the U. K. Treasury Fraud Strategy introduced in May to curb fraudulent activities in the country.

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OpenSea former exec imprisoned for NFT insider trading

A former head of product at NFT marketplace giant OpenSea has been sentenced to prison and will forfeit the Ethereum (ETH) he gained from his insider trading activities.  In May, Nathanial ‘Nate’ Chastain was convicted of fraud and money laundering.…

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First Mover Americas: Justice Department May Charge Binance With Fraud: Report

The latest price moves in bitcoin (BTC) and crypto markets in context for August 2, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

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Binance May Face New Fraud Charges in the United States

Crypto exchange Binance, widely subject to regulatory scrutiny in its global operations, may now face legal action in the United States. The post Binance May Face New Fraud Charges in the United States appeared first on BeInCrypto.

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Celsius Network’s Bankruptcy Woes Ebb Away After Settlement Deal

Bankrupt crypto lender Celsius Network may finally see an end to its prolonged court battle with disgruntled customers after the company entered into a settlement agreement to address pending claims related to fraud allegations. 

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Sam Bankman-Fried's Bahamas Litigation May Take ‘Months or Years,’ His Counsel Says

The FTX founder’s lawyers argue that a new Supreme Court judgment shows that he has not committed fraud.

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How to protect your identity online

Strategies like using strong passwords, enabling 2FA, avoiding phishing, using VPNs, keeping software up-to-date and using reputable antivirus may help one against online fraud.

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Terraform labs Do Kwon co-founder pleads not guilty to passport fraud in Montenegro

Do Kwon, co-founder of Terraform Labs, entered a not-guilty plea in a Montenegrin court on May 11. Kwon was accused of utilizing forgeries of Belgian and Costa Rican passports.

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South Korea sets trail date for Terraform Labs co-founder Daniel Shin

The trial for Terraform Labs co-founder Shin Hyun-seung will begin in Seoul on 26 May. Local authorities have claimed that Shin's involvement in the suspected fraud was bigger than that of Do KThe post South Korea sets trail date for Terraform Labs co-founder Daniel Shin appeared first on AMBCrypto.

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South Korea sets trial date for Terraform Labs co-founder over Terra Luna collapse

Terraform Labs co-founder Shin Hyun-seung and seven other associates are set to face trial on May 26 over fraud charges related to the collapse of the Terra-Luna stablecoin and crypto project in May 2022. 

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Former OpenSea executive Nate Chastain convicted in insider trading case

Former OpenSea former product manager Nate Chastain has been convicted of fraud and money laundering, Reuters said on May 3. Chastain purchased non-fungible tokens (NFT) that he chose to feature on the OpenSea marketplace and sold those assets a short time later.

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Washington state DFI warns Eucoinotrade may be engaging in ‘advanced fee fraud’

One user claims they were defrauded out of more than $50,000 by the website, which authorities are now referring to as an “alleged cryptocurrency exchange.”

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Scaramucci’s SkyBridge to Buy Back FTX Stake; Says Claims Against SBF ‘Very Clear’

Skybridge Capital, the company founded by Anthony Scaramucci, has disclosed plans to repurchase a 30% stake it sold to FTX in the coming months. Scaramucci – who served as White House Director of Communications – told CNBC that Sam Bankman-Fried and his collapsed exchange may have committed fraud.

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Prosecutors unlikely to offer Sam Bankman-Fried a favorable plea deal, says lawyer

Former FTX CEO may not be able to offset the two counts of wire fraud and six counts of conspiracy he faces with the credits by entering a guilty plea.

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Avraham Eisenberg Charged with Fraud, Market Manipulation

Avi Eisenberg may have been too clever for his own good when he publicly revealed he was responsible for the Mango Markets exploit in October. It turns out the FBI...

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CryptoSlate Wrapped Daily: SEC takes aim at influencers for securities fraud; SBF allegedly made political donations in others’ name

The biggest news in the cryptoverse for December 134 includes CryptoSlate’s analysis suggesting that the bottom for Bitcoin may not be in yet and Congressman Tom Emmer alleging that SEC Chairman Gary Gensler knew about FTX’s fraud.

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'You can commit fraud in shorts and T-shirts in the sun,' says SDNY attorney on SBF indictment

Damian Williams called on individuals who may have been involved in alleged illegal actions at FTX and Alameda to “come see us before we come see you,” hinting at future arrests.

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Did SBF Admit to Fraud Over Speculation of Mishandling Users’ Funds? 

Details remain unclear, but Sam Bankman-Fried (SBF) may have unintentionally admitted to fraud during a recent live Twitter space. Now, a 'whistleblower' is claiming to know more about FTX and Alameda Research were manipulating the market.

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FTX may be a fraud, Ripple CEO suggests

Ripple CEO Brad Garlinghouse suggested that the edgy FTX exchange was a fraudulent scheme.  Garlinghouse dismisses FTX unregulated claim as “overstated” During a recent interview on CNBC International today, Ripple CEO Brad Garlinghouse, while speaking on the current trend in…

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