Indian officials have confiscated $190 million approximately Rs 1,646 crore during its investigation into BitConnect cryptocurrency fraud. The investigation was done by the Enforcement Directorate (ED), Ahmedabad as part of the ongoing investigation into the global Ponzi scheme, which collapsed in 2018.” On Saturday, the Enforcement Directorate (ED) stated that
As the Asian world wakes up to Bitcoin reclaiming the $97K mark, other altcoins have also traveled further in the bullish trend. In the past day, in an interesting turn of events, AI tokens took to the spotlight, with market cap surging past $100 billion. Meanwhile, TerraForm Labs’ former CEO,
Canadian rap superstar Drake’s X account was hacked on Saturday night and used to promote a fraudulent Solana-based memecoin called “$ANITA.” The scam capitalized on Drake’s cartoon “alter ego,” Anita Max Wynn, leveraging his brand to lend credibility to the fraudulent project. Hackers targeted Drake’s over 39 million followers with
US authorities have sued investment firm Touzi Capital, claiming the company misled investors over the fund’s profitability and liquidity of its cryptocurrency asset mining fund. The US Securities and Exchange Commission (SEC) released a statement on November 29 alleging that Touzi Capital raised about $95 million from more than 1,200
Pump.fun’s livestream feature has caused major controversy and is the target of criticism. The platform allows users to quickly create meme coins. The feature has been called for removal because of its abuse for extreme content and financial fraud, despite its original intent of helping developers market their ideas. Things
FTX has filed a lawsuit against Binance and its former CEO, Changpeng Zhao, in a bid to recover nearly $1.8 billion. The lawsuit, filed on November 10, alleges that Binance and Zhao received these funds as part of a fraudulent share repurchase deal in July 2021. This move marks another
The U.S. Department of Justice has indicted Aleksei Andriunin, 26, the founder of cryptocurrency financial services firm Gotbit, in a large-scale market manipulation and fraud scheme. Gotbit, along with two of its directors, Fedor Kedrov and Qawi Jalili, has also been charged in connection with these activities. Andriunin, Kedrov, and
Grant Colthup, the former CEO of Mine Digital, faces serious fraud charges for allegedly stealing $1.5 million from a customer. This transaction occurred just two months before the firm collapsed in September 2022. The Australian Securities and Investments Commission (ASIC) announced the charges on October 21, detailing a transaction that
The U.S. Securities and Exchange Commission (SEC), Federal Bureau of Investigation (FBI), and Department of Justice (DOJ) have filed lawsuits against Gotbit Consulting, ZM Quant Investment, CLS Global, and several individuals for market manipulation and fraud. The charges primarily involve practices like wash trading, where fake transactions were used to
The United States Federal Bureau of Investigation (FBI) created its own cryptocurrency, “NexFundAI,” operated on the Ethereum blockchain. The FBI initiated the token to capture the attention of market manipulators and illicit activities in the cryptocurrency market. Besides, the federal prosecutors in Boston announced charges against eighteen individuals and entities
