South Korea: Crypto Exchanges Probed Over Alleged Embezzlement

3 days ago admin2 0
Image: Physical version of Bitcoin (new virtual money) and South Korea Flag, by Lukasz Stefanski, Seoul prosecutors carried out a three-day raid to the offices of three cryptocurrency exchanges on suspicious that their personnel had embezzled customer funds. According to a report by Digital Chosun, the prosecutors suspect that executives and staff withdrew money Read More

US Trade Regulator Shuts Down Crypto Investment Scheme Promoters

3 days ago admin2 0
A U.S. district court in Florida has issued a temporary restraining order against four individuals accused of operating a string of cryptocurrency investment schemes following a request from the Federal Trade Commission. The agency announced Friday that three of the four defendants – Thomas Dluca, Louis Gatto, and Eric Pinkston – were involved in two referral Read More

South Korea Raids 3 Crypto Exchanges in Embezzlement Probe

5 days ago admin2 0
South Korean prosecutors raided three cryptocurrency exchanges this week over suspicions that staff embezzled funds from customers’ accounts, according to local news reports. Exchange staff, including executives, are suspected of siphoning off money from customer accounts and using it to purchase cryptocurrencies at other exchanges, reported. The Seoul Southern District Prosecutors’ Office reportedly confiscated hard Read More

Crypto Startup Giza Pulls Exit Scam After Raising More Than US$2M In ICO

6 days ago admin2 0
Cryptocurrency startup Giza Device has gone dark after raising US$2 million in cryptocurrencies in a fake initial coin offering (ICO). The funds were supposed to be used to fund the development of a “super secure storage device” for cryptocurrencies. The individual or group of individuals used a fake LinkedIn profile and copied pictures from another Read More

Brazilian Officials Caught Using Bitcoin in $22 Million Scam

6 days ago admin2 0
Police officials in Rio de Janerio have uncovered a money laundering scheme in which state officials siphoned off money intended for prison supplies, using bitcoin to exchange some of the proceeds. The scam involved misstating the budget spent on food for state-run prisons, ultimately diverting funds worth $22.4 million – though only a small portion of the Read More

New Jersey Issues Cease-and-Desist to ICO Endorsed by Steven Seagal

2 weeks ago admin2 0
The U.S. state of New Jersey has issued a cease-and-desist order to an initial coin offering (ICO) endorsed by film actor Steven Seagal. In an order entered on March 7, the New Jersey Bureau of Securities alleged that Bitcoiin is selling unregistered securities to New Jersey residents. The document highlights the lack of concrete information about Read More

UK Company Linked to the Theft of 650,000 Bitcoin from Mt Gox

2 weeks ago admin2 0
U.K. company has reportedly been linked to the laundering of stolen bitcoin from the now-defunct crypto exchange Mt Gox. In a BBC Radio 4 investigation, the company in question is London-based Always Efficient LLP. According to the BBC, it’s not known who is in control of the firm while its registered address in east London Read More

US Judge Rules Cryptocurrencies Are Commodities in CFTC Case

2 weeks ago admin2 0
A U.S. district judge has backed the U.S. Commodity Futures Trading Commission in defining cryptocurrencies as commodities. According to a Memorandum & Order for a court case that the CFTC had brought against cryptocurrency business operator Patrick Kerry McDonnell, Judge Jack Weinstein from a district court in New York ruled that “virtual currencies can be regulated Read More

North Carolina Orders Crypto Mining Firm to Halt Share Sale

2 weeks ago admin2 Comments Off on North Carolina Orders Crypto Mining Firm to Halt Share Sale
North Carolina’s government has sent a cease-and-desist order to a cryptocurrency company they say is selling unregistered securities in the U.S. state. The North Carolina Secretary of State Securities Division issued a temporary cease-and-desist order on March 2 against the European project PowerMining Pool. The move comes just under two months after that department issued a Read More

North Korea May Have Raked in Over $200 Million in Cryptocurrency Transactions

2 weeks ago admin2 Comments Off on North Korea May Have Raked in Over $200 Million in Cryptocurrency Transactions
North Korea is reported to have raked in more than $200 million in cryptocurrency transactions last year, sidestepping sanctions on its nuclear and missiles programme, according to an intelligence agent. In an interview with Radio Free Asia, Priscilla Moriuchi, a former U.S. National Security Agency officer, estimated that the country had banked 11,000 bitcoins. Speaking Read More