๐ Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. ๐ฅ
โ
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator โ
Log In
News on Medial
Tornado Cash cofounder Roman Storm pleads not guilty to laundering over $1 billion
Economic Times
ยท
1y ago
Medial
A co-founder of Tornado Cash, a cryptocurrency platform under US sanctions, pleaded not guilty to federal charges of facilitating over $1 billion in money laundering, including for a cybercrime group linked to North Korea. Roman Storm, a naturalized US citizen, entered his plea and was arrested on August 23, released on a $2 million bond. The US Treasury had previously banned Tornado Cash, alleging that it was used by North Korea's Lazarus Group to launder hacking proceeds. Another co-founder, Roman Semenov, was indicted but remains at large.
View Source
Related News
Crypto mogul Do Kwon pleads not guilty in first US court appearance
Economic Times
ยท
6m ago
Medial
South Korean cryptocurrency mogul Do Hyeong Kwon pleaded not guilty to charges in a US court after being extradited from Montenegro. The charges involve conspiracy and fraud related to deceiving investors into investing in Terraform Labs, which he co-founded. Despite claims of offering reliable financial technologies, authorities allege a $40 billion crash of the company's cryptocurrency harmed investors worldwide. Kwon's plea addresses multiple fraud charges, including commodities and securities fraud, with a money laundering charge added.
View Source
Crypto firm pleads guilty to operating illegally in US
Economic Times
ยท
4m ago
Medial
An offshore crypto trading firm, OKX, pled guilty to illegally operating as an unlicensed money transmitting business in the U.S. and agreed to pay $504 million in fines. Despite marketing itself in the U.S., it failed to register with federal regulators, violating anti-money laundering laws. The company, overseen by Aux Cayes FinTech, claimed no customers were harmed. The plea comes amidst the SEC's regulatory pullback on the crypto industry, impacting firms like Robinhood and Coinbase.
View Source
US judge signs off on Binance, former chief Changpeng Zhao's plea deals with DOJ
Economic Times
ยท
1y ago
Medial
US District Judge Richard Jones in Seattle has approved plea deals between Binance Holdings, its former chief Changpeng Zhao, and US prosecutors. Binance agreed to pay over $4.3 billion and pleaded guilty to violating US anti-money laundering and sanctions laws, while Zhao also pleaded guilty and is awaiting sentencing in February.
View Source
US judge approves Binance's $4.3-billion guilty plea
Economic Times
ยท
1y ago
Medial
A US judge has accepted the $4.3 billion penalty and guilty plea from Binance, the world's largest cryptocurrency exchange, for violating federal anti-money laundering and sanctions laws. The plea includes a $1.81 billion criminal fine and $2.51 billion of forfeiture. Binance had failed to report over 100,000 suspicious transactions, supported the sale of child sexual abuse materials, and received significant ransomware proceeds. Binance has accepted responsibility and made progress in upgrading its protocols. Binance founder Changpeng Zhao has also pleaded guilty and is free on a $175 million bond, with conditions set for his sentencing in April.
View Source
Founder of Binance, worldโs largest crypto firm, sentenced to four months
Livemint
ยท
1y ago
Medial
Billionaire Changpeng Zhao, founder of Binance, the largest cryptocurrency exchange, has been sentenced to four months in jail and a $50 million fine for violating U.S. anti-money laundering laws. Zhao pleaded guilty to the charges in November and stepped down as CEO of Binance. The sentence marks the culmination of a multiyear investigation into the exchange and demonstrates how U.S. regulators are cracking down on the cryptocurrency industry. Binance also pleaded guilty to anti-money laundering violations, agreeing to pay fines of $4.3 billion and accept oversight by an independent monitor.
View Source
Binance's former chief has to stay in the US until February sentencing
Livemint
ยท
1y ago
Medial
Former Binance chief Changpeng Zhao has been ordered by a U.S. District Judge to remain in the continental United States until his sentencing in February for violating U.S. anti-money laundering laws. Zhao and Binance Holdings recently pleaded guilty to breaking U.S. anti-money laundering and sanctions laws, with Binance agreeing to pay over $4.3 billion. Zhao, who faces a maximum prison sentence of 18 months, had requested to return to the UAE, where he has been living, but the court ruled that he must stay in the U.S. due to flight risk concerns.
View Source
Hacker behind $234 million India crypto theft starts washing funds
Economic Times
ยท
10m ago
Medial
The attacker behind India's biggest cryptocurrency hack has started laundering a portion of the stolen $234 million from the WazirX exchange. The perpetrator moved 2,500 Ether tokens worth around $6.3 million to a service called Tornado Cash, which obfuscates the origin of crypto-assets. The incident highlights the difficulty of recovering the stolen digital assets. It is suspected that the attacker has a connection to North Korea, with blockchain intelligence firm Elliptic pointing to a matching pattern. WazirX's parent company has initiated restructuring proceedings, and customers are expressing frustration while the Indian stock market rally continues.
View Source
Binance's investors pull $956 million as Zhao steps down to settle US probe
Livemint
ยท
1y ago
Medial
Investors have withdrawn around $956 million from Binance in the last 24 hours following the resignation of its CEO Changpeng Zhao, who pleaded guilty to violating US anti-money laundering laws. This raises concerns about the future of the world's largest cryptocurrency exchange. Richard Teng, a senior Binance executive, has been appointed as the new CEO. Despite the outflows, there are still over $65 billion in assets remaining on the platform. Binance has previously faced legal scrutiny, with investors withdrawing $1.43 billion in June after a lawsuit by the US Securities and Exchange Commission.
View Source
Breaking the law with new tech doesn't make you a disrupter: Rajeev Chandrasekhar
Money Control
ยท
1y ago
Medial
Union Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, stated that using new technology to break the law does not make a company a disruptor but rather a criminal. His comments came in response to Binance, the world's largest crypto exchange, facing money laundering charges. Binance's CEO, Changpeng Zhao (CZ), recently stepped down after pleading guilty to breaking U.S. anti-money laundering laws. Chandrasekhar praised the Indian government's approach to deterring crypto speculation, stating it has saved countless Indians from financial losses.
View Source
US authorities set to unveil settlement with Binance
Economic Times
ยท
1y ago
Medial
US authorities are expected to announce details of a settlement with Binance Holdings, the world's largest cryptocurrency exchange, following a long-running investigation. The settlement involves charges against individuals and allegations of violating finance and money-laundering laws. Binance CEO Changpeng Zhao is reportedly set to step down and plead guilty to violating US anti-money laundering requirements. The settlement will also include a large penalty, though the exact amount has not been disclosed. The US agencies involved include the Justice Department, the Commodity Futures Trading Commission (CFTC), and the Treasury Department's Financial Crimes Enforcement Network.
View Source
Trackers
Active Indian VCโs
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything thatโs happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
