Search
7 potential use cases of chatbots in banking
4.5.2023
chatbots can offer a convenient and accessible way for individuals to manage their personal finances, fraud prevention and more
Ukraine, US Shut Down 9 Cryptocurrency Exchanges
4.5.2023
Supported by U.S. law enforcement, police in Ukraine have disrupted a network of crypto exchange services suspected of laundering criminal proceeds. The platforms were allegedly processing dirty money obtained from ransomware attacks and various fraud schemes. Cyberpolice, US Investigators Bust...
Ex-OpenSea Exec Convicted of Wire Fraud, Money Laundering in Insider Trading Case
3.5.2023
Nate Chastain, the former head of product at non-fungible token (NFT) platform OpenSea, was convicted of money laundering and wire fraud in a New York court on Wednesday, according to a report from Reuters
State regulators crack down on fraudulent cryptos promoted as 'Elon Musk AI Tokens' and 'TruthGPT Coin'
3.5.2023
According to the cease and desist order, investors are being given the impression that Elon Musk endorses "TruthGPT Coin"
Celsius Founder Mashinsky Denies ‘Baseless’ Fraud Claims From New York State
3.5.2023
Attorney General Letitia James said Mashinsky misled investors about the health of the now bankrupt crypto lender
UK Set to Ban Cold Calls Selling Financial Products, Including Crypto
3.5.2023
The reported value of U.K. cryptocurrency fraud climbed 32% to £226 million in the year ending in September 2022
US Court Orders Operator of South African Bitcoin Ponzi Scheme to Pay Over $3.4 Billion
2.5.2023
Johann Steynberg, the founder and CEO of Mirror Trading International, has been ordered to pay over $1.73 billion in restitution to victims of his bitcoin ponzi scheme. The court has also ordered Steynberg to pay a civil monetary penalty of a similar amount. The Commodity Futures Trading Commission...
CFTC exposes the largest Bitcoin-related fraud case
1.5.2023
As per the information released by a Texas judge, the U.S. Commodity Futures Trading Commission (CFTC) has successfully unearthed the biggest-ever fraud case related to Bitcoin. According to the facts gathered, the erring party has been compelled to pay a penalty of $3.4 billion. The perpetrator...
Largest Bitcoin Fraud Scheme Results in $3.4B Penalty in a Case Brought by CFTC
28.4.2023
A judge has ordered a record-breaking $3.4 billion penalty in a fraud case involving Bitcoin brought by the US Commodity Futures Trading Commission.
In a Thursday press release, the CFTC revealed that Cornelius Johannes Steynberg, a South African national and CEO of Mirror Trading International...
South African Mirror Trading's CEO Fined $3.4B by U.S. in Bitcoin Forex Fraud Case
28.4.2023
The founder of bitcoin pool operator MTI was charged with fraud last year for running an unlicensed commodity pool scheme
CTFC wins record $3.4B penalty payment in Bitcoin-related fraud case
28.4.2023
The CFTC said it's the largest fraudulent Bitcoin scheme charged in any of its cases and the "highest civil monetary penalty ordered in a CFTC case."
Leader of Miami Trio Pleads Guilty to $4M Bank, Crypto Fraud Charges
26.4.2023
The U.S. Department of Justice last year charged three members of a Miami crew for participating in a crypto-related scheme from 2020
Report: Terraform Labs Co-Founder Indicted on Fraud Charges in South Korea
25.4.2023
Recent local reports have brought to light that Shin Hyun-seong, also known as Daniel Shin, co-founder of Terraform Labs, has been indicted by the Seoul Southern District Prosecutors’ Office on charges of fraud. Along with nine others, Shin is suspected of deceiving investors and accumulating...
South Korean Court Rules Terra Crypto Asset LUNC Is Not a Security
24.4.2023
Amidst the allegations against Do Kwon, the co-founder of Terraform Labs, a recent report by the Korean Sunday News has revealed that the Seoul Southern District Court has ruled in favor of LUNA, now renamed LUNC, by stating that it is not a financial investment product. Despite the recent...
How is artificial intelligence used in fraud detection?
24.4.2023
AI can contribute to fraud management by detecting data anomalies, identifying fraudulent behavior patterns and automating fraud detection processes
Do Kwon Challenges SEC’s Jurisdiction in Multibillion-Dollar Crypto Securities Fraud Case
22.4.2023
Attorneys defending the co-founder of Terraform Labs, Do Hyeong Kwon, also known as Do Kwon, have presented their argument that says the U.S. Securities and Exchange Commission (SEC) has no jurisdiction in the matter. The legal team asserts that U.S. law precludes regulators “from using...
Do Kwon lawyers reportedly dismiss SEC's securities fraud allegation
22.4.2023
Kwon's lawyers claimed that the SEC failed to prove the alleged defrauding of US investors in connection with Terra’s $40 billion collapse of TerraUSD (UST) and Luna (LUNA)
Fugitive Crypto Exchange Founder Faruk Ozer Extradited to Turkey
21.4.2023
Albania has extradited the founder of Turkish cryptocurrency exchange Thodex to his home country where he is charged with defrauding investors. The crypto entrepreneur disappeared after his trading platform unexpectedly went offline in the spring of 2021 and was arrested last year by Albanian...
NBA Hall of Famer Shaq Served in FTX Investor Suit
18.4.2023
A law firm representing FTX investors has served former NBA star Shaquille O’Neal in a class-action case against celebrities who endorsed the failed crypto exchange. The lawsuit accuses Shaq, along with other public figures and the platform’s founder, of defrauding people who put money into FTX....
Do Kwon’s Terraform Sent $7 Million to Law Firm Before Collapse, Report Unveils
16.4.2023
Prosecutors investigating failed blockchain firm Terraform Labs have found out that its Singapore office sent millions of U.S. dollars to lawyers just before the crash of its cryptocurrencies. According to Korean media, the transfers suggest that co-founder Do Kwon was aware of the imminent...