Tuesday, May 24, 2022

cryptocurrency

BitMEX Co-Founders Slapped with $30 Million Fine

The Commodity Futures Trading Commission (CFTC) announced on Thursday that a New York court entered a consent order against all three co-founders of crypto derivatives exchange BitMEX, Arthur Hayes, Benjamin Delo and Samuel Reed. They have been ordered to pay a...

Pro football investor pleads guilty in cryptocurrency scheme

A businessman who was one of the early investors in a failed professional football league called the Alliance of American Football pleaded guilty Monday to charges accusing him in a $600 million cryptocurrency scheme. Reginald Fowler was charged with bank...

Authorities Shutter Sprawling Dark Web Drug Bazaar and Seize $25 Million in Bitcoin

Hydra, a longtime dark web cesspool of money laundering and drug sales, has been shut down by police. On Tuesday, officials with Germany’s Federal Criminal Police Office announced Hydra’s demise, revealing in a press release that authorities had seized much of the...

Thailand bans cryptocurrency payments for goods and services

Thailand’s securities regulator announced Wednesday that it is barring the use of cryptocurrencies for payment of goods and services. The ruling effective April 1 does not ban investment in cryptocurrencies, which has become increasingly popular in the past year after...

BitConnect Founder Charged in $2 Billion Cryptocurrency Fraud Scheme

A grand jury indictment was returned Friday charging the founder of cryptocurrency company BitConnect with federal crimes for his role in allegedly defrauding investors out of more than $2 billion, according to the U.S. Attorney's Office in San Diego. Satishkumar...

U.S feds seize $3.6 billion in stolen bitcoin from Bitfinex hack

Federal authorities seized $3.6 billion in stolen bitcoin and arrested a couple in Manhattan on Tuesday in what’s considered the Justice Department’s largest financial cryptocurrency bust to date. Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31, of New York City, were arrested...

Russian Central Bank Proposes Banning Cryptocurrencies, Crypto Mining

Russia's central bank on Thursday proposed banning the use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens' wellbeing and its monetary policy sovereignty. The move is the latest in a global cryptocurrency crackdown as governments...

Binance Turkey fined $750,000 for non-compliance against money laundering

The Financial Crimes Investigation Board (MASAK) has fined Binance Turkey 8 million lira (nearly $750,000) after the crypto exchange failed the financial watchdog’s audit for monitoring Anti-Money Laundering (AML) compliance. The Financial Crimes Investigation Board (MASAK), which serves as Turkey’s...

Montenegro President Milo Djukanovic faces probes over alleged involvement in money-laundering ring

Montenegro’s specialised prosecution has launched a probe into allegations by Albanian oil businessman Rezart Taci that President Milo Djukanovic has been participating in an international money laundering scheme, public broadcaster RTCG reported on November 17. Earlier in November, BIRN published...

BitConnect founder charged with $2 billion cryptocurrency fraud

The top U.S. securities regulator on Wednesday sued the founder of the now-defunct cryptocurrency exchange platform BitConnect over his alleged role in fraudulently raising about $2 billion from thousands of retail investors. Expanding a civil case announced in May, the...

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Nigeria’s Accountant General suspended over N80bn fraud

Ahmed Idris, Nigeria’s Accountant General of the Federation, who was on Monday arrested by the Economic and Financial Crimes...