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Today in Crypto: 45% Jump in Payment Fraud Attacks on Crypto Exchanges, Court Rejects Reason to Halt Binance.US’ Acquisition of Voyager, India & UAE Partner on CBDC Plans, Xapo Bank Integrates with the Faster Payment System
16.3.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: 45% Jump in Payment Fraud Attacks on Crypto Exchanges, Court Rejects Reason to Halt Binance.US’...
FBI Says Crypto Investment Fraud Rose 183% to $2.57 Billion in 2022
16.3.2023
The Federal Bureau of Investigation (FBI) says cryptocurrency investment fraud rose 183% from $907 million in 2021 to $2.57 billion in 2022, based on data from its Internet Crime Complaint Center (IC3). The FBI also warned the public of “a spike in cryptocurrency investment schemes.”...
Chinese Businessman With Ties to Steve Bannon Arrested, Charged With Fraud, Including $500M Crypto Scam
15.3.2023
Exiled Chinese businessman Guo Wengui was arrested in New York on Wednesday morning and charged with fraud for allegedly orchestrating a series of fraudulent schemes that bilked retail investors out of a collective $1.4 billion
British Bank Natwest Implements New Limits on Cryptocurrency Payments to Combat UK Crypto Scams
15.3.2023
On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto exchanges is £1,000 daily ($1,215), with a 30-day limit of £5,000 ($6,077). Natwest’s Cautious...
NatWest Bank Imposes Monthly Crypto Exchange Payment Limit of $6K, Citing Fraud Concerns – Here's the Latest
15.3.2023
Consumer-focused UK bank NatWest is putting a limit on the amount of money customers can transfer to cryptocurrency exchanges in a move that shows deteriorating relationships between digital asset firms and financial institutions.
Users of the bank will be limited to payments of 1,000 British...
Signature Bank and former executives sued by shareholders for alleged fraud
14.3.2023
Shareholders have accused the bank of falsely claiming to be “financially strong” just three days before it was seized by the state regulator
Report: DOJ and FBI Investigating Terraform Labs in Connection to Algorithmic Stablecoin Collapse
14.3.2023
The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from Terraform Labs, the company behind the Terra...
It’s Not Just Fraud That Chilled Crypto Regulation
13.3.2023
While it’s easy to blame the recent shift in the regulatory mood regarding crypto markets on certain bad actors, the real roots lie beyond the crypto ecosystem, says Noelle Acheson
Shareholders file lawsuit against Silicon Valley Bank, alleging fraud: Report
13.3.2023
The class action suit was filed against Silicon Valley Bank, chief executive officer Greg Becker, and chief financial officer Daniel Beck
Sam Bankman-Fried's bail conditions still too lenient, says judge
10.3.2023
U.S. district judge, Lewis Kaplan, expressed concern that Bankman-Fried could find ways to evade the restrictions and covertly communicate with others electronically
Founders of Multimillion-Dollar Global Crypto Ponzi Scheme ‘Airbit Club’ Plead Guilty
10.3.2023
The founders and promoters of multimillion-dollar cryptocurrency Ponzi scheme Airbit Club have pleaded guilty to various criminal charges. Airbit Club victims were promised “guaranteed daily returns on any membership purchased,” the U.S. Department of Justice (DOJ) detailed. Airbit...
Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’
9.3.2023
Internet users in Russia have been targeted in an email campaign advertising the launch of an alleged cryptocurrency issued by the state. Potential victims are encouraged to follow a link to the website of the fraudulent investment scheme, security experts said. Thousands of Investment Offers...
SBF’s lawyers signal need to push back October criminal trial
9.3.2023
Sam Bankman-Fried’s lawyers said they’re still waiting on evidence from federal prosecutors and as a result need more time to prepare a defense
AirBit Club execs face decades in prison after pleading guilty to $100M fraud
9.3.2023
Co-founder Rodriguez and senior promoters Millan, Aguilar and Chairez all recently pled guilty to the charges, while the other founder, Dos Santos pled guilty in October, 2021
Airbit Club Founders, Lawyer Plead Guilty to $100M Fraud Scheme
8.3.2023
The scheme's founders and promoters promised victims their money would be invested in a lucrative mining operation, but instead spent funds on cars, jewelry and luxury homes
Fed Chair Powell on Crypto: We See Turmoil, Fraud, Lack of Transparency, Run Risk
8.3.2023
Federal Reserve Chairman Jerome Powell has outlined several risks related to crypto activities during a hearing before the Senate Committee on Banking, Housing, and Urban Affairs. While stating that the Fed sees turmoil, fraud, a lack of transparency, and run risk in the crypto space, he stressed:...
SEC Takes Swift Action Against BKCoin and Kevin Kang for Alleged Involvement in $100 Million Crypto Fraud
7.3.2023
The Securities and Exchange Commission (SEC) has announced it is taking “emergency action” against crypto hedge fund BKCoin and its co-founder Kevin Kang for “Ponzi-like conduct.”...
Read More: SEC Takes Swift Action Against BKCoin and Kevin Kang for Alleged Involvement in $100 Million Crypto Fraud
SEC Files Emergency Action Against Bkcoin in $100 Million Crypto Fraud Scheme
7.3.2023
The U.S. Securities and Exchange Commission (SEC) has filed an emergency action against Miami-based investment adviser Bkcoin and one of its principals, Kevin Kang. “The defendants disregarded the structure of the funds, commingled investor assets, and used more than $3.6 million to make...
SEC continues streak of enforcement actions, targets BKCoin for alleged $100M fraud
6.3.2023
The financial regulator’s complaint alleged that BKCoin raised roughly $100 million from investors to invest in crypto, but diverted some of the funds for personal use
Crypto Scam in Egypt Defrauds Thousands of Investors of $620K: Report
6.3.2023
Authorities have arrested 29 people, including 13 foreign citizens in connection with the fraudulent network known as "HoggPool."