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South Korea probes Upbit for 600K KYC violations
15.11.2024
Due to the alleged KYC violations, Upbit reportedly faces fines of $71,500 per case in addition to possible issues with Upbit’s business license renewal
Bitcoin Price Growth Could Continue, Says South Korean Analyst
14.3.2024
Bitcoin price growth could continue, a South Korean crypto analyst has predicted, as “crypto fever” slowly takes hold in the nation.
The post Bitcoin Price Growth Could Continue, Says South Korean Analyst appeared first on Cryptonews
South Korean Law Firm Chief Jailed for Stealing Customer Money to Invest in Crypto
12.3.2024
A South Korean law firm operator was jailed in Busan on March 11 after they were found guilty of stealing clients’ money to spend on crypto investments.
The post South Korean Law Firm Chief Jailed for Stealing Customer Money to Invest in Crypto appeared first on Cryptonews
MEXC Addresses Missing Funds Concerns Amidst Allegations of ‘Clawbacks’
7.3.2024
The MEXC exchange denies any accusations that it has arbitrarily confiscated customer money. According to a Coin Telegraph report, several MEXC users have recently complained on social media of random “clawbacks” or centralized withdrawal freezes and liquidations of funds. User...
Ex-General Counsel Sheds Light on FTX’s $7B Gap in Bankman-Fried Fraud Trial
22.10.2023
FTX’s former general counsel Can Sun testified Thursday in federal court that he was shocked to learn FTX founder Sam Bankman-Fried (SBF) had secretly transferred billions in customer funds to his hedge fund Alameda Research. Sun told prosecutors he resigned the day after realizing the scope...
Prime Trust Put Into Receivership Amid Shortfall in Funds, Charges It Misused Customer Money
18.7.2023
Crypto custodian Prime Trust has been ordered by the Eighth Judicial District Court of Nevada, where the company has its headquarters, to be put into receivership after the state ordered the custodian to cease all activities amid a shortfall of customer funds
Binance Accused of Mixing Company Revenue with Customer Money In U.S
24.5.2023
The world’s largest crypto exchange, Binance, has mixed company revenues with customer funds in the US, according to a Reuters report.
The comingling of customer funds and company revenues happened “almost daily” in bank accounts the exchange had at the now-bankrupt crypto-friendly bank...
BlockFi used customer money to buy $30M insurance, creditors claim
16.5.2023
BlockFi said last Friday that it might not generate value for creditors by selling its cryptocurrency lending platform
Caroline Ellison’s Testimony Claims FTX Boss SBF Directed Her to Co-Mingle Customer Funds Since 2019
23.12.2022
On Dec. 23, 2022, Matthew Russell Lee from the Inner City Press published the recently unsealed guilty plea transcript of Caroline Ellison, Alameda Research’s former CEO. In her statements, Ellison describes that she was the co-CEO and CEO of Alameda, and under those roles, she reported directly...
Federal Prosecutors Probe Democrats Over Donations From Sam Bankman-Fried
19.12.2022
Several members of the U.S. Democratic Party and campaign committees are reportedly being probed by federal prosecutors over donations from former FTX CEO Sam Bankman-Fried (SBF) and another executive of the collapsed cryptocurrency exchange. “To any person, entity, or political campaign that...
Coinbase CEO Slams Sam Bankman-Fried for Blaming FTX’s $8 Billion Hole on ‘Accounting Error’
7.12.2022
The chief executive of the Nasdaq-listed cryptocurrency exchange Coinbase, Brian Armstrong, has slammed former FTX CEO Sam Bankman-Fried (SBF) for claiming that FTX is missing $8 billion due to an “accounting error.” He stressed: “It’s stolen customer money used in his hedge...