BIT Mining Ltd., formerly known as 500.com, has agreed to pay a $10 million penalty to resolve allegations of violating the Foreign Corrupt Practices Act (FCPA). The charges stem from a bribery scheme aimed at influencing Japanese government officials to secure a casino license between 2017 and 2019. Former CEO
The U.S. Department of Justice (DOJ) has registered a civil forfeit lawsuit to recover $16 million worth of crypto assets, assumed to be linked to the controversial crypto exchange, FTX and its founder Sam Bankman-Fried. Among the crypto assets, more than half of the assets were held in Solana (SOL),
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
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 U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are backing a class action lawsuit against Nvidia that has been revived, according to recent reports. The legal case revolves around claims that Nvidia manipulated its sales related to the cryptocurrency mining sector. In an amicus brief
The U.S. Department of Justice (DOJ) is facing a lawsuit from four individuals, including victims and relatives of state-sponsored terrorism. They accuse the DOJ of delaying and improperly withholding funds from a $4.3 billion settlement involving Binance. The plaintiffs are seeking compensation for the victims. The lawsuit, submitted on September
BitMEX, a leading cryptocurrency exchange based in the Seychelles, has pleaded guilty to breaching the Bank Secrecy Act (BSA) between 2015 and 2020, as announced by the U.S. Department of Justice (DOJ) on Wednesday. Court documents reveal that BitMEX intentionally failed to implement a know-your-customer (KYC) and anti-money laundering (AML)
An effort to have Roman Semenov, co-founder of Tornado Cash, dismissed from charges of conspiracy and money laundering has been opposed by the US Department of Justice (DOJ). It said that early-stage motions are not appropriate for bringing forward contested facts for jury consideration, as the defense had done in
The court’s decision to extradite Do Kwon, co-founder of Terraform Labs, to South Korea was not accepted by Montenegrin prosecutors. Do Kwon was ordered to be extradited to South Korea two weeks ago by a high court in Podgorica, Montenegro. This decision overturned an earlier request by a different Montenegrin
Binance, the global cryptocurrency exchange behemoth, and its former CEO, Changpeng Zhao (CZ), have launched a strong counteroffensive against the U.S. Securities and Exchange Commission (SEC). The move comes as a response to the SEC’s allegations, where the regulatory body accused the exchange of 13 securities law violations, including the
