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BigONE lost $27M in a hot wallet hack linked to a third-party intrusion Attackers laundered assets into TRX, SOL, ETH, and BTC Exchange services have been restored and all user losses are being reimbursed Another crypto exchange, another security incident — this time, it’s Seychelles-based BigONE in the spotlight, after a third-party intrusion compromised its…
Illinois Senate has advanced a bill to establish comprehensive regulations for crypto businesses operating in the state and address concerns about digital assets-related fraud cases, which saw over $160 million in losses in 2023. Illinois Advances Crypto Consumer Protection Bill On Thursday, Illinois’ Senate Executive Committee passed Senate Bill 1797 (SB1797), also known as the…
Three Russian citizens have been charged with running crypto mixers Blender.io and Sindbad.io These mixers helped launder funds for criminals and state-sponsored hacker groups Three Russian citizens, Roman Ostapenko, Alexander Oleynik, and Anton Tarasov, have been charged with running cryptocurrency mixers. These mixers enable criminals to hide the source of funds by mixing and pooling…
An AI startup founder was approached by some investors, claiming to have ties with multiple billionaire families, with an offer of a massive investment. Although they were very convincing, the startup founder ended up loosing about $50,000 only to realise that he was duped by an alleged organized scammer group. According to Dr Daniel Veidlinger,…
US has charged 14 people and four companies for fraud and market manipulation among other illegal activities. The prosecution says this is the first criminal case involving cyptocurrency companies over market manipulation and wash trading. US prosecutors have filed charges against 14 people and four crypto companies over widespread market manipulation and fraud. According to…
A US federal court ordered William Koo Ichioka to pay $31 million in restitution and $5 million in monetary penalty The New York resident was charged and ordered to pay a total of $36 million for defrauding victims in a forex and crypto scheme A New York man will pay $36 million for defrauding victims…
Yang Bin, the former second-richest man in China, has been sentenced to six years in a Singapore prison for operating a multi-million-dollar Ponzi scheme disguised as a crypto investment operation. The 61-year-old Chinese-Dutch national, pleaded guilty to eight charges that ranged from conspiring to engaged in a fraudulent scheme, operating without a valid work permit,…