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CEO of MTI Bitcoin Ponzi Scheme Flees South Africa in Possible Exit Scam – Funds Blocked
24.12.2020
In an unexpected turn of events, the management team at Mirror Trading International (MTI) now suggest that their CEO Johann Steynberg may have exit scammed. The team alleges that Steynberg, now believed to be in Brazil, has locked out key management staff from accessing MTI’s account with...
US Treasury Unveils Stifling Crypto Wallet Regulation — Experts Break Down the Rules
19.12.2020
The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury Department, has unveiled its proposed rules on transactions involving cryptocurrency wallets. Experts in the crypto community have weighed in on what the new proposed regulation means, what crypto owners should do,...
South African Regulator’s Probe Into Mirror Trading International Unearths Previously Undeclared Losses and Missing Bitcoins
19.12.2020
South African financial regulator, the Financial Sector Conduct Authority (FSCA), has filed criminal charges with local law enforcement against Mirror Trading International (MTI), the alleged online bitcoin trading scam. The regulator says its decision to press charges follows an investigation into...
Indian Crypto Trader Arrested for Allegedly Using USDT to Launder Money on Behalf of Chinese Online Betting Scammers
14.12.2020
An Indian law enforcement agency has arrested Naisar Kothari, a cryptocurrency trader, for his role in a money-laundering scheme linked to online Chinese betting scams. The arrest was made after the country’s Enforcement Directorate (ED) detected large amounts of money “being...
SEC Enforcement Director to Step Down by End of Year
10.12.2020
Enforcement Director Stephanie Avakian led SEC investigations during the heart of its ICO crackdown
New Draft U.S. Law Will Make It Illegal To Issue Stablecoins Without Federal Reserve Approval
4.12.2020
Three U.S. lawmakers have introduced a bill that will force private stablecoin issuers to obtain a banking charter (or license) and approval from the Federal Reserve before they can issue a stablecoin. Instigated by Rep. Rashida Tlaib, with support from Reps. Jesús García and Stephen...
Chinese Police Seize $4.2 Billion in Multiple Cryptocurrencies From Plustoken Ponzi Clampdown
27.11.2020
Chinese police have seized more than $4.2 billion worth of crypto assets in its clampdown against the Plustoken Ponzi scheme. According to a court ruling made public on Nov. 26, and shared by The Block, law enforcement confiscated a total of 194,775 bitcoin (BTC), 833,083 ether (ETH), 1.4 million...
Law Enforcement Agencies Are Missing Forked Cryptos in Criminal Seizures: Research
23.11.2020
Blockchain analytics company Coinfirm said authorities are "ignoring" criminals' stockpiles of cryptocurrencies that forked from bitcoin
Silk Road Bitcoin Seizure: Analytics Firm Claims Tokens Worth Millions Still Outstanding
22.11.2020
Analytics firm Coinfirm says the US Department of Justice (DOJ)’s seizure of digital assets associated with the now-defunct Silk Road left behind tokens worth millions of dollars. According to Coinfirm, there are still valuable balances held on forked addresses originating from that wallet....
Texas State Securities Board Flags 15 Investment Entities Including One Unregistered Crypto Trader
21.11.2020
The Texas State Securities Board (TSSB) has announced a series of enforcement actions against 15 online investment entities that illegally market cryptocurrency, binary options, and forex investments in Texas. Fake Social Media Accounts The regulator alleges that operators of the companies...
The SEC collected $1.26 billion from unregistered ICOs in 2020
12.11.2020
In a record-breaking year, the SEC seized $4.68 billion — more than one-quarter of which came from cryptocurrency-related firms
Former Microsoft Engineer to Serve 9 Years in Prison in a Case That Involves Use of Bitcoin Mixers
10.11.2020
A U.S. court in Seattle has sentenced a former Microsoft engineer to 9 years in prison after finding him guilty of 18 federal felonies relating to his elaborate scheme to defraud the tech giant $10 million. In passing the judgment, the court blasts Volodymyr Kvashuk, a software engineer and citizen...
Sharktron Defi Project Devs Exit Scam: Tron Foundation Says Part of Missing Funds Now Frozen
10.11.2020
Developers of the Sharktron defi project have exit scammed with reports suggesting that TRX tokens worth up to $10 million are missing. The Tron Foundation has confirmed the theft, but is quick to inform Sharktron token holders that a portion of the missing funds has been frozen. The exit scam...
$200 Million Brazilian Crypto Fraud Scam: The US Seizes $24 Million Worth of Digital Currencies
5.11.2020
The United States Department of Justice (DOJ) says it has seized cryptocurrencies worth $24 million after receiving an official request from the government of Brazil. The seizure stems from an ongoing investigation into the $200 million cryptocurrency scam that may have defrauded tens of thousands...
Cred Says Fraudulent Activity Led to Loss of Funds; Law Enforcement Investigating
28.10.2020
Decentralized lending platform Cred says it's cooperating with law enforcement over a "loss of funds."
South African Regulator Raids Home of Key Members of an Alleged Crypto Ponzi Scheme
27.10.2020
A South African regulator along with the country’s police have reportedly seized electronics devices and computers belonging to two principal members of Mirror Trading International (MTI), an alleged bitcoin Ponzi scheme. The raid at Clynton and Cheri Marks’ home on October 26...
P2P Trading Resumes on Okex While Withdrawals Freeze Still in Effect: Tron Foundation Announces Cashout Plan for TRX Holders
23.10.2020
Asian cryptocurrency exchange Okex says peer to peer trading is now open but the freeze on withdrawals remains in effect. In an update, Okex CEO Jay Hao reveals that buying cryptocurrency via the fiat gateway is now active as well but he fails to give a timeframe for the resumption of withdrawals....
DOJ’s Crypto Framework Is ‘a Complete Disaster’ for Digital Privacy Rights
22.10.2020
The U.S. Department of Justice's enforcement framework may pose a serious threat to the digital privacy rights of crypto users
US Financial Watchdog Fines Bitcoin Mixer Service for $60 Million
20.10.2020
Larry Dean Harmon, founder and operator of early bitcoin mixing services Helix and Coin Ninja, is being fined $60 million by the U.S. Treasury’s Financial Crimes Enforcement Network (Fincen) for allegedly violating anti-money laundering rules. According to documents published Oct. 19...
Coinbase Received 1,900 Requests for Client Info From Law Enforcement During First Half of 2020
17.10.2020
Coinbase has revealed that it received a total of 1,914 requests for customer data from global law enforcement agencies during the first six months of 2020. It is, however, not clear how many of the requests were fulfilled. In its first so-called“transparency report” published Friday...