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SafeMoon executives charged in US with fraud related to crypto token
Economic Times
·
1y ago
Medial
The founder and two top executives of cryptocurrency token SafeMoon have been charged by the U.S. Department of Justice with running a fraud scheme that diverted millions of investor dollars to fund their personal luxuries. The charges include securities fraud, wire fraud, and money laundering. The indictment alleges that SafeMoon lied to investors about the security of their investments while withdrawing funds for expensive purchases such as sports cars and luxury homes. SafeMoon's value dropped significantly following the announcement of the charges.
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Crypto lending firm Celsius Network and its former CEO sued by SEC, CFTC, FTC
TechCrunch
·
2y ago
Medial
Crypto lending firm Celsius Network and its former CEO Alex Mashinsky are facing lawsuits from the U.S. SEC, CFTC, and FTC. Mashinsky has reportedly been arrested and charged with fraud. The SEC alleges that Celsius and Mashinsky raised funds through fraudulent sales of crypto asset securities, promising high returns. The SEC also considers Celsius' token CEL and Earn Interest Program as securities. Celsius filed for bankruptcy in 2022.
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The other crypto bosses in US authorities' crosshairs
Economic Times
·
1y ago
Medial
Several crypto industry moguls who are currently under investigation by US authorities. Sam Bankman-Fried, the founder of FTX crypto exchange, was recently found guilty of defrauding customers. Binance and its CEO, Changpeng Zhao, are facing lawsuits by the SEC and the CFTC for alleged deception and operating an illegal exchange. Do Kwon, co-founder of Terraform Labs, is charged with fraud and was arrested for forging documents. Celsius Network's founder, Alex Mashinsky, has pleaded not guilty to fraud charges. Barry Silbert of Digital Currency Group and Stephen Ehrlich of Voyager Digital are also facing legal action. Finally, Chinese entrepreneur Justin Sun and his companies, including Tron Foundation, were charged with fraud by the SEC.
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US indicts founder of crypto firm Gotbit for alleged wire fraud
Economic Times
·
9m ago
Medial
The founder of cryptocurrency market maker Gotbit, Aleksei Andriunin, has been indicted for allegedly manipulating cryptocurrency markets. He has been charged with wire fraud and conspiracy to commit market manipulation and wire fraud. The US Justice Department claims that between 2018 and 2024, Gotbit provided market manipulation services to create artificial trading volume for various cryptocurrency companies, including those in the United States. Gotbit, along with two of its directors, Fedor Kedrov and Qawi Jalili, who were previously charged, could face severe penalties if convicted.
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UK-Based Cashaa To Launch Crypto Wallet In 7 Markets, Including India
Inc42
·
1y ago
Medial
UK-based crypto firm Cashaa is set to launch a new crypto wallet in seven markets, including India, aiming to increase adoption of its native token, CAS. The wallet will allow users in these markets to buy, store, earn, and take loans against their cryptocurrency deposits in their local currencies. Cashaa founder Kumar Gaurav believes that 2024 will be the year of mainstream adoption of crypto, with major institutions entering the space. Cashaa is discontinuing its banking services for crypto and other high-risk businesses, with all operations related to these services set to cease by May 30, 2024.
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Former FTX executives team up to launch new crypto exchange
Economic Times
·
1y ago
Medial
Former executives of collapsed crypto exchange FTX, including key witness Can Sun, are planning to launch a new cryptocurrency exchange called Backpack Exchange. The Dubai-based startup aims to address the problems that led to FTX's downfall, offering trust and transparency. The exchange will allow users to hold funds in their own self-custody wallets. Meanwhile, former FTX CEO Sam Bankman-Fried has been found guilty on all counts related to fraud and money laundering. He faces a potential lengthy prison sentence.
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Crook made millions by breaking into execs’ Office365 inboxes, feds say
Arstechnica
·
10m ago
Medial
- Robert B. Westbrook charged with a "hack-to-trade" scheme that earned him millions by breaking into Office365 accounts of executives at publicly traded companies. - Westbrook earned approximately $3.75 million in 2019 and 2020 through stock trades based on illicitly obtained quarterly financial reports. - The US Securities and Exchange Commission (SEC) filed a separate civil suit seeking penalties and the return of ill-gotten gains. - Using advanced data analytics and technology, the SEC was able to uncover fraud despite Westbrook's efforts to conceal his identity. - Westbrook breached the email accounts of executives from five US companies by abusing Office365's password reset mechanism and implemented auto-forwarding rules to an email account he controlled. - By obtaining material information, Westbrook could predict stock performance and accordingly execute profitable trades.
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Adani, others accused of paying $250M bribes to secure lucrative solar deals
YourStory
·
8m ago
Medial
Indian billionaire Gautam Adani, chairman of the Adani Group, has been charged by US prosecutors for his alleged involvement in a scheme to pay $250 million in bribes to Indian officials in order to secure favorable solar power contracts. Adani, along with his nephew Sagar and other defendants, is accused of orchestrating an elaborate scheme to bribe government officials. The charges include securities fraud, securities fraud conspiracy, and wire fraud conspiracy. The Adani Group has not yet responded to the charges.
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These three new crypto coins are catching serious attention - The Economic Times
Economic Times
·
15h ago
Medial
Three new crypto tokens—Bitcoin Hyper, TOKEN6900, and Snorter Token—are gaining attention. Bitcoin Hyper aims to enhance Bitcoin's utility using Layer 2 solutions. TOKEN6900 embraces meme culture, following the viral success of SHIB and DOGE. Snorter Token focuses on simplifying crypto trading via a Telegram bot, offering swaps, snipes, and portfolio tracking. With fresh capital and innovative approaches, these tokens cater to the evolving needs of the crypto market.
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Hottest new crypto launches you can still get in early - The Economic Times
Economic Times
·
15h ago
Medial
Investors are exploring new crypto projects amid Ethereum's rising prominence. Bitcoin Hyper aims to enhance Bitcoin's usability, while TOKEN6900 is a meme coin with no utility. Best Wallet Token provides an all-in-one crypto wallet solution, and Snorter Token uses AI to simplify DeFi strategies. These projects are gaining traction and attracting interest during presales. They offer unique features like high speed, low fees, passive income, and automation, each catering to various aspects of the evolving crypto market.
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Telegram introduces built-in crypto wallet, bringing its users into mainstream blockchain - The Economic Times
Economic Times
·
17d ago
Medial
Telegram introduced its integrated TON Wallet, enabling users to send, receive, and manage cryptocurrencies like Toncoin, USDT, and Bitcoin directly within the app. This integration, especially for US customers, marks Telegram as the first mass-market social app in the US to feature a self-custodial crypto wallet. Key features include zero-fee crypto purchases through Apple Pay, Google Pay, or cards, instant peer-to-peer transfers, token swaps, staking, trading tools, and access to decentralised Mini Apps.
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