Overall, ‘crypto’ crime may be on the decline, but certain criminals are making out like bandits, particularly those from North Korea. Last month, blockchain data analysts Chainalysis released two summaries of its most recent crypto crime mid-year update, showing a mixed bag on how criminals continue to utilize blockchain technology to further their illicit aims….
Block reward miners on the BTC network had their least profitable month in nearly a year in August, leading to bankruptcies, share dilutions, and other ‘Hail Mary’ efforts to stave off the inevitable. Bitbo data shows BTC miner revenue hitting $827.5 million in August, less than half the total from this year’s peak of $1.93…
The administrators of the bankrupt Celsius Network have sued to recover billions of dollars worth of “preferential and fraudulent transfers” of customer assets to Tether before Celsius’s lights went dark. On August 9, the Celsius Debtors filed a civil suit in the U.S. Bankruptcy Court in the Southern District of New York, seeking to reclaim…
In the fall of 2021, the FTX exchange moved operations to the Bahamas, a move the Prime Minister described as “proof that we are headed in the right direction.” However, the island nation’s laws were found wanting as the exchange stole billions from investors. Its new law seeks to prevent another FTX implosion. Known as…
Tether once again claims to have earned 10-figure profits from issuing its stablecoin but continues to dodge a third-party audit that might transform these claims into a verifiable reality. On July 31, Tether issued its latest attestation report on the reserve assets allegedly backing up the over $113 billion in circulating USDT tokens as of…
Barry Silbert’s Digital Currency Group (DCG) has once again come up short in its bid to recoup its own losses ahead of customers of its bankrupt Genesis digital lending platform. Late last week, U.S. Bankruptcy Judge Sean Lan approved a bankruptcy liquidation plan that will see Genesis Global return around $3 billion in cash and tokens to customers impacted by the…