allegedly

Israeli Police Arrest Beitar Jerusalem Owner and 7 Suspects in Multimillion-Dollar Crypto Fraud

Israeli police have arrested eight suspects in connection with a cryptocurrency fraud scheme after raiding their homes and seizing evidence. One of the suspects is Moshe Hogeg, a well-known owner of the premier soccer team Beitar Jerusalem Football Club. 8 People Arrested in Crypto Fraud Scheme in Israel Israeli police arrested eight suspects Thursday allegedly stealing tens of millions of shekels in a cryptocurrency fraud scheme. The arrests were made after officers from the police’s Lahav 433 anti-corruption unit raided the suspects’ homes and offices. They gathered evidence and seized

Loopring CEO Moves 61.3 Million LRC, Triggering GameStop NFT Speculation

On Nov 16, a transaction of 61.3 million LRC being moved to layer 2 occurred on the Loopring network. The Crypto community speculates that this could be a move to support a forthcoming GameStop NFT marketplace.Sponsored Sponsored Investors and market speculators are having a field day after a recent Loopring transaction has them thinking that it could be related to a GameStop (GME) float. On Nov 16, a deposit of 61.3 million LRC, worth $164.8 million, on the Loopring Exchange occurred. The assets were also moved from layer 1 to

First crypto-related exchange-traded fund gets green light in India

The Securities and Exchange Board of India (SEBI) has approved the first cryptocurrency ETF. According to local media, the regulator has approved Invesco’s CoinShares Global Blockchain ETF Fund. The fund owns Coinbase, Bitfarms, SBI Holdings, and MicroStrategy, among others. The fund has had a good year, earning 89.52% in returns. Invesco is positive about the asset class’s future, it noted in a document. Blockchain technology Because blockchain technology is new, the potential to change the global economy is huge. Like the internet, blockchain offers massive potential to investors. For institutional

Powers On… Don’t worry, Bitcoin’s adoption will not be stopped

In a series of  recent interviews and speeches, United States Securities and Exchange Commission Chairman Gary Gensler has called the cryptocurrencies market the “Wild West” due to its unregulated and allegedly fraud-filled atmosphere, predicting that the coins were doomed to fail. Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches

Cryptocurrency Exchanges Seek Employees to Solve Regulatory Issues

Sep 25, 2021 at 11:11 // News Many cryptocurrency exchanges have had problems with financial regulators in different countries. Some of them have had to shut down or move their operations to other countries. Others have been forced to look for ways to deal with supervisors and improve compliance. In 2021, cryptocurrency exchange Binance had numerous issues with regulators in different countries. As reported by CoinIdol, a world blockchain news outlet, it was charged and sanctioned by the Japanese Financial Services Agency (FSA) for allegedly conducting illegal business. Later, the

Cuba Recognizes Cryptocurrencies | This Week in Crypto – Aug 30, 2021

 MicroStrategy buys more bitcoin, Cuba recognizes cryptocurrencies and free BTC for everybody in town…but which town? These stories and more this week in crypto. NASDAQ-listed business intelligence company MicroStrategy announced yet another substantial purchase of Bitcoin, this time worth nearly $200 million. The firm added 3,907 bitcoin to its stash, at an average price of just over $45000 per coin bringing its total holdings to nearly 109,000 bitcoins. Cuba will recognize and regulate cryptocurrencies citing “reasons of socio-economic interest.” The central bank will set new rules for how to

Turkey: This Dogecoin mining scam may have duped investors to the tune of $119M

The crypto-community has long been plagued by scams and frauds. Especially since people have often come up with ingenious ways to rip users off their crypto-holdings. A recent example from Turkey is a case in point. According to Turkish media reports, a scam involving Dogecoin has allegedly amassed fraudsters $119 million in deposits. Local channel TV100 broke the news earlier this week, revealing that the fraudster, “Turgut V,” is now on the run with all the funds. Along with his 11 associates, “Turgut” apparently tricked about 1,500 Turkish citizens into

Crypto Hacker’s Data Vulnerable to FBI Through Palantir Glitch

A glitch in the Palantir system allegedly allowed the FBI  unauthorized access to data on a crypto hacker case from 2019. Sponsored Sponsored The Peter Thiel-founded AI company, Palantir faced unwelcomed news.  A new report claims the artificial intelligence giant faced a glitch in their secretive software program used by the FBI. Such a mishap allowed the FBI unauthorized access to private data for over a year.  Clients of this power intelligence software include the CIA, US immigration agency ICE, and the FBI among others. Sponsored Sponsored The accusation came from a

Malaysia Launches Enforcement Action Against ‘Illegally Operating’ Binance

In brief Malaysia's financial services regulator has taken enforcement action against Binance. The Securities Commission has said Binance is still operating illegally despite being listed on an alert list since July 2020. The Malaysia Securities Commission (SC) has today taken enforcement action against Binance for allegedly operating illegally in the country. The SC claims the crypto exchange is operating illegally as a Digital Asset Exchange, without the requisite registration requirements found in Sections 7(1) and 34(1) of the Capital Markets and Services Act 2007.  “Accordingly, the SC has issued a public

Massive Ledger Data Leak Increases SIM Swapping Threat

Hardware wallet manufacturer Ledger has suffered another massive data breach for the second time this year. The exposure of thousands of clients’ personal information has increased the threat of SIM swapping as an attack vector. For the second time this year, personal data from Ledger wallet buyers has been dumped online. The leak was posted by several members of the crypto community who found files allegedly containing the ‘full database’ of Ledger customers containing emails, phone numbers, and even physical addresses. Ledger Data Leaked (Again) Ledger played down the data

AirBit Club Ponzi Operators Charged With Fraud and Money Laundering

The operators of a global cryptocurrency-based Ponzi scheme have been charged with fraud and money laundering following a United States Homeland Security Investigations probe.According to an announcement from the U.S. Department of Justice, four of the five alleged operators of AirBit Club, which allegedly netted tens of millions of dollars from victims, were arrested and due to appear in court on Aug. 18, while the fifth was arrested in Panama and is awaiting extradition to the U.S.The scheme was launched in late 2015 and sold as a multi-level marketing club in

Bull Runs, Mining, and Tor Attacks: Bad Crypto News of the Week

Last week, the Bitcoin news was all about lift-off. This week, it’s all about the leveling off. Bitcoin ends the week around $11,400, a fall of about 2.7 percent over the last seven days. That drop included a correction of $700 in one day so the question now is whether the bullish moment has gone or will Bitcoin push on to $15,000? Its first mission will be to break the resistance at $12,000. Bitcoin failed to do that twice in ten days but consolidated after each failure, which some experts believe