A savvy NFT trader turned a profit exceeding $12 million from CryptoPunk NFT sales—earning $7.4 million in 2021 from 62 pieces and an additional $4.9 million in 2022 from 35 pieces. However, underreporting nearly $13 million in gains has led…
Search Results For: fraud
SEC Changes Crypto Fraud Team to Smaller Cyber-Focused Unit
The U.S. Securities and Exchange Commission (SEC) has announced a restructuring of its enforcement efforts related to digital assets. This move signals a shift in the agency’s approach to addressing fraud in cryptocurrency markets and financial cybercrimes. By replacing its…
Crypto Fraud Rises 45% to $5.6 Billion in 2023, FBI Report
Crypto fraud has reached unprecedented levels, as evidenced by the alarming statistics reported by the FBI. The rapid growth of cryptocurrency use and the rise in criminal activity within this space have resulted in massive financial losses for consumers. As…
Chirag Tomar pleaded guilty to a $37 million Coinbase Pro wire fraud
In June 2021, Tomar and his co-conspirators launched a sophisticated phishing scheme targeting users of Coinbase Pro, a professional cryptocurrency trading platform. They created a fake website that mimicked the legitimate Coinbase Pro platform, tricking users into entering their login…
Jian Wen Gets 80 Months for Bitcoin Laundering in $5.6B Fraud
Jian Wen, a former fast-food worker turned affluent socialite, has been sentenced to six years and eight months in prison for her involvement in laundering Bitcoin linked to a monumental $5.6 billion investment fraud in China. This case highlights the…
Terraform Labs Deems SEC’s $5.3 Billion Fraud Penalty Proposal Unwarranted
Terraform Labs Pte, along with its co-founder Do Kwon, has recently faced significant legal challenges after being found liable for fraud by a New York jury. The U.S. Securities and Exchange Commission (SEC) accused Terraform and Kwon, the creator of…
Terraform Labs Seeks Penalty Reduction in SEC Fraud Case After $5.3 Billion Fine Proposal
Lawyers representing Terraform Labs and its co-founder, Do Kwon, have requested a reduced penalty following their clients’ recent conviction for fraud. They argue that a fine closer to $1 million is more appropriate than the $5.3 billion proposed by the…
Terraform Labs and Founder Do Kwon Face Fraud Verdict in SEC Case
In a significant verdict delivered by a Manhattan jury, Singapore-based Terraform Labs and its founder, Do Kwon, have been found liable on civil fraud charges. The jury’s decision, in agreement with the U.S. Securities and Exchange Commission (SEC), validates the…
Major Banks Pay $385Billion in Penalties for Fraud, Illegality Since 2000 and its not Crypto – Details explained – Top 10 Worst Offenders
The financial industry plays a crucial role in the global economy, facilitating transactions, providing loans, and offering various financial services. However, the sector has not been immune to instances of fraudulent and illegal activities. Over the years, major banks have…
FTX Founder’s Downfall and the Soaring Surge of Cryptocurrency Investment Fraud Investigated by Federal Prosecutors
In an exclusive interview, federal prosecutors open the doors to the enigmatic realm of cryptocurrency crime, providing a glimpse into the shocking events surrounding the collapse of FTX, a prominent cryptocurrency exchange. This article delves into the astounding case of…
StilachiRAT Malware affects crypto wallets via Chrome add-ons – Microsoft
A newly uncovered remote access trojan (RAT) named StilachiRAT is posing a serious threat to…
Bitcoin’s Long-Term Investors Now Possess More Than 76% of All BTC for the First Time. Details below
In the ever-fluctuating world of cryptocurrencies, Bitcoin, affectionately known as BTC, is currently undergoing a…
