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The U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) have unveiled charges against three UK nationals for a fraudulent non-fungible token (NFT) scheme involving “Evolved Apes,” promising a game development. “They allegedly took investor funds, never developed the game, and pocketed the proceeds.” US Charges 3 UK Nationals in NFT Rug … Read more
India’s Enforcement Directorate (ED) has cracked down on a cryptocurrency fraud ring targeting a foreign national. The accused persuaded the victim to transfer $400,000 to a cryptocurrency account set up using unauthorized remote access. The ED seized digital evidence, froze fixed deposits, and confiscated jewelry connected to the case. The investigation is still ongoing. ED … Read more
New York Attorney General Letitia James has sued Novatechfx, AWS Mining, and their founders for orchestrating crypto pyramid schemes that defrauded over 11,000 New Yorkers out of more than a billion dollars in cryptocurrency. These companies targeted vulnerable immigrant communities, particularly Haitians, with false promises of high returns. NYAG Letitia James Takes Action Against Crypto … Read more
A Federal court in Australia has relieved the crypto firm Block Earner from paying a penalty for breaching the financial services law when it offered the Earner product. According to the ruling, Block Earner “acted honestly and not carelessly,” hence it should not be made to pay a pecuniary penalty. The Federal Court judge criticized … Read more
The U.S. DOJ has charged the CFO of a media company with one count of money laundering and two counts of bank fraud for participating in a scheme that laundered criminal proceeds using cryptocurrency. Authorities allege that Weidong Guan and his accomplices used bank accounts opened with stolen personal identification information to transfer the funds … Read more
The Australian federal court relieved Block Earner from paying a penalty after an Australian regulator’s legal action over unlicensed crypto yield-bearing products. Go to Source
The developer of the Zksync Ethereum Layer 2 network, Matter Labs, abandoned its bid to trademark the term ‘ZK’ just days after asserting its right to do so. Matter Labs’ trademark bid withdrawal follows a furious community backlash that ultimately saw co-inventors of zero-knowledge proofs publicly chastise the developer. Community Backlash Ends Matter Labs’ ZK … Read more
The Hong Kong Technology Crime Police Advisory Group has warned about the rise of digital asset-linked crime, calling for the establishment of a regulatory system to identify and eliminate risks associated with this tech. According to police data, almost $550 million was involved in digital asset crimes during 2023, with 90% of these cases involving … Read more
Dapper Labs, a blockchain technology and digital collectibles company, has reached a favorable settlement in the legal case Friel vs. Dapper Labs, establishing that NBA Top Shot Moments are not securities. The company emphasizes that this significant ruling clarifies the legal status of digital collectibles and ensures the continued decentralization of the Flow blockchain. Dapper … Read more
Coinbase, Inc. has escalated its dispute with the Securities and Exchange Commission (SEC) by filing a reply brief in the Third Circuit Court of Appeals, arguing the necessity of clear rulemaking for the digital asset industry. The case underscores the ongoing tensions between regulators and the digital asset sector over compliance and operational standards. Coinbase … Read more
