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CoinsRadar_Net_币市雷达
CoinsRadar_Net_币市雷达
followers

A quick look at the popular currency circles in 3 hours (from CoinsRadar.net): Big news! The former currency circle boss will be sentenced! Is virtual currency just a dream after all? Sam Bankman-Fried (SBF) (Bankman-Fried), the founder of the cryptocurrency exchange FTX, a former currency tycoon and a global billionaire, may face 110 years in prison. Live the rest of your life. According to media reports, on the evening of November 2, local time, the jury found FTX guilty of seven charges including wire transfer fraud, conspiracy to commit fraud, and conspiracy to commit money laundering. SBF was ultimately convicted on all charges. Bankman Fried is a 30-year-old young man with an amiable appearance, often called SBF in the circle. In March 2022, his net worth reached nearly 190 billion yuan, and he was called the "genius richest man" in the industry. However, in November last year, FTX, the once leading cryptocurrency exchange, went bankrupt and declared bankruptcy. The book wealth of this legendary tycoon in the currency circle also dropped to zero. Later, Bankman Fried was extradited to the United States to face criminal charges filed against him by the U.S. judicial department and stand trial. But following his collapse, there were countless virtual currency players who liquidated their positions! Virtual currency has become a street rat! 1. The mainstream virtual currencies currently on the market are all in the hands of Western wild capitalists and are not endorsed or protected by any official bank! It rose and fell sharply within 24 hours. . If you don’t believe me, take a look at the picture below: None of these mainstream virtual currencies are issued by the state. They are all published by individual programmers themselves. Skyrocketing prices! There is no pattern at all! For example, Musk said, "Dogecoin is the people's currency." In an instant, Dogecoin skyrocketed. Obviously, those Western capitalists who have mastered a large number of virtual currencies. You can control the "trading volume" at will! To control the rise or fall of "price"! What they want to make is naturally to cut leeks from retail investors around the world. Fundamentally speaking, virtual currency is a Ponzi scheme, which is essentially just a sharp knife for "cutting leeks". So far, no central bank is willing to endorse virtual currencies! In the final analysis, for any country, its own monetary sovereignty is the top priority! No ordinary person can challenge the monetary sovereignty of his or her country!Not to mention the United States, which is the country least likely to support and endorse virtual currencies! If the United States gives a platform to Bitcoin, it will be equivalent to giving up the transcendent status of the US dollar. In the future, other countries will engage in global trade and business. They all switched to using virtual currency for settlement, bypassing the U.S. dollar. In the final analysis, virtual currency has no national credit endorsement and no legal protection. It can only be an anarchic carnival and wealth illusion. In other words, sooner or later it will be completely shattered and become worthless.

3 days ago
Todayq News
Todayq News
followers

Bitcoin (BTC), the original crypto, received a heavy backlash from the European Central Bank (ECB), while, it received a spot Exchange-Traded Fund (ETF) approval in the United States. An ECB blog suggests that Bitcoin has failed to become a global decentralised digital currency, instead falling victim to fraud and manipulation. Bitcoin faces backlash The US Securities and Exchange Commission (SEC) approved ETFs for Bitcoin on January 10 sparking optimism in the market. However, the ECB warns against viewing this assent as proof of Bitcoin’s safety and unstoppable success. The Central Bank suggests that Bitcoin’s fair value remains zero despite the ongoing surge. According to the blog, society faces potentially dire consequences due to this. This includes environmental damage and wealth redistribution. The Europen regulators highlighted that Bitcoin has failed to fulfill its original promise of becoming a global decentralized digital currency. It points out that BTC transactions are still inconvenient, slow, and costly.  ECB raised a crucial issue of regulatory efforts to curb criminal activities on the Bitcoin network. However, this also proved to be unsuccessful. The authority underlined that Bitcoin is not a suitable investment as it lacks the essential characteristics of traditional assets.  This is because BTC doesn’t generate cash flow, dividends, or offer social benefits. The blog calls it the allure for retail investors that often stems from the fear of missing out (FOMO). It exposes them to potential financial losses. BTC on its way up? Bitcoin has come a long way from trading around the $16,000 price level in January 2023 to breaching the $52,000 level in February 2024. BTC price is up by around 113% over the last year. The biggest crypto is up by another 28% in the last 30 days. BTC is trading at an average price of $51,625, at the press time. However, Bitcoin is aiming to hit a new all time high (ATH). Its 24 hour trading volume stands at around $29 billion. Bitcoin is nearing its major halving event. Meanwhile, the ECB seems to have a problem regarding BTC’s proof-of-work mining mechanism. The regulator mentions that it continues to have an environmental impact. Higher Bitcoin prices are correlated with increased energy consumption, as miners seek to cover higher operational costs. The ECB further warns of a renewed boom-bust cycle. It cautioned small investors from re-entering the crypto market. However, the cumulative crypto market cap is nearing to reclaim $2 trillion mark with a bullish momentum. Get Premium Crypto Trading Signals from Real Crypto Analysts. Join our official Waiting List at todayq.com.

3 days ago
CoinsRadar_Net_币市雷达
CoinsRadar_Net_币市雷达
followers

A quick look at the popular currency circles in 3 hours (from CoinsRadar.net): Can’t a case be filed if coins are stolen in the currency circle or u is deceived? Recently, the battalion commander has received many consultations about cases of people being cheated in the currency circle. What was cheated was not money, but virtual currency assets, most of which were U. As for how they were cheated, I did not ask about the specific process of being cheated. We don’t know the reason. Generally speaking, the reason is that many novices in the currency circle have insufficient awareness and precautions, which leads to them being deceived. Many people were deceived and reported the crime. The police said that buying and selling virtual currencies was illegal and they could not file a case. Regardless of you, the virtual assets they lost would be gone. Many people chose to tolerate it and finally let it go. After spending several years in the cryptocurrency industry, I have seen many people lose their virtual currency assets due to being cheated, stolen or stolen, and some people have suffered considerable losses. Many cases clearly meet criminal criteria, but strangely, few victims successfully file cases and receive legal redress. I think the problem lies largely in the biases and stereotypes in law enforcement practice regarding the legal understanding of this area. First of all, whether it is a crime such as fraud, theft, or embezzlement depends on whether virtual currency or cryptoassets are legally considered "property". There is no doubt about this, because although it is an intangible asset, owning and controlling it means being able to obtain benefits. The People's Bank of China made it clear in its 2018 Financial Stability Report: Cryptoassets are a type of private financial assets. Secondly, the normative documents describing crypto-assets as virtual commodities have not yet been revoked, and there are no legal provisions that explicitly state that crypto-assets are illegal. Although these arguments are valid, they may not convince the authorities to open a case. But don't be discouraged, we live in a country ruled by law, and the law is our powerful weapon. The "Criminal Procedure Law" and the "Procedural Regulations of Public Security Organs in Handling Criminal Cases" give you the right to obtain a "Receipt of Case Acceptance" and a "Decision to Open or Not to Open a Case." If you do not meet the conditions for filing a case, you should be notified in writing according to legal provisions. Even if you receive a notice not to file a case, you still have the right to apply for reconsideration to your superior. If the reconsideration result is not satisfactory, you can also apply to the procuratorate for legal supervision. If these steps fail to successfully protect your rights, it is recommended to seek professional help. After all, once you lose a huge amount, it is necessary to find a way to protect your rights and interests. But many people who consult think that they can help them unconditionally. What are you thinking? Professional people do professional things. It is only natural that you pay for my services. Those who want to have sex for free should not come here. However, I suggest that if you want to make money in a certain field, you must first learn basic knowledge, learn more and read more, and don’t watch some master online teaching you how to make money, move bricks, etc. Either it's eye-catching, or the project is outdated and it's your turn. Don't be cut into leeks. And cause yourself a lot of trouble. Today’s academic discussion is over. We only discuss the issue of infertility. 😍Follow me! Get news faster!

4 days ago
Cointelegraph
Cointelegraph
followers

Stablecoin issuer Tether didn’t provide a definitive answer on whether or not it would cease support for the Tron network after its rival Circle ceased minting its stablecoin on the blockchain on Tuesday. “Tether tokens are issued on several blockchains, which are simply transport layers for such tokens,” Tether said in a statement to Cointelegraph when asked for comment about Circle and whether Tether was considering a similar move. “Tether retains the ability to freeze transactions on each directly supported transport layer to accomplish its compliance duties. Nevertheless Tether actively monitors the safety of each one of the supported transport layers to ensure the highest standards to our community,” the firm said. Tether (USDT) is the largest stablecoin with a market capitalization of $97.7 billion, and Circle’s USD Coin (USDC) trails at $28 billion, according to CoinGecko data. The Tron network is home to over 51.8 billion USDT — over half of the nearly 101 billion USDT tokens issued across multiple blockchains, according to Tether’s transparency report dated Feb. 21. An additional nearly $76.2 million is set aside to provide near-term liquidity for the token on the Tron network. A screenshot of Tether’s USDT transparency report cropped to show only USDT’s top three blockchains and its total assets. Source: Tether Tether's comments came in response to an announcement from Circle on Feb. 20, with the firm revealing it was immediately ending the minting of USDC on Tron and would gradually phase out support for the network, saying the decision aligns with “efforts to ensure that USDC remains trusted, transparent and safe.” Last month, a United Nations report said “USDT on the Tron blockchain has become a preferred choice” for cyber fraud and money launders in Southeast Asia due to the “ease, anonymity, and low fees of its transactions.” Tether rebuffed the report, saying the UN ignored USDT’s traceability and the firm’s record of law enforcement collaboration. It highlighted that it froze over $300 million worth of USDT used in crime “within the last few months,” including $225 million worth frozen in November 2023 as part of a United States probe into a Southeast Asian human trafficking syndicate. Related: Y Combinator calls on startups to build stablecoin, metaverse, AI solutions Ethics watchdog group Campaign for Accountability wrote to the United States Congress in November alleging Tron “has been named in multiple international law enforcement actions involving billions of dollars in transactions by alleged organized crime groups and sanctioned entities.” The U.S. Securities and Exchange Commission sued the Tron Foundation and founder Justin Sun in March 2023, alleging they offered unregistered securities and conducted manipulative trading, which Sun denies. Magazine: Unstablecoins: Depegging, bank runs and other risks loom

4 days ago
吴说区块链
吴说区块链
followers

A 57-year-old Hong Kong financial manager was defrauded of more than HK$17 million (approximately US$2.17 million) after investing in gold and cryptocurrencies through a fake trading platform, according to the South China Morning Post. A total of HK$2.6 million in "profits" was withdrawn from the platform before she eventually discovered the scam, to make her believe it was a legitimate trading platform and also to serve as bait to lure her into investing more money. People familiar with the matter said the bank account from which the victim transferred money had been flagged in the police's anti-fraud Scameter search engine database, and the losses could have been avoided if she had used Scameter to check before transferring funds.​

4 days ago
The Daily Hodl
The Daily Hodl
ORIONPLAY official
ORIONPLAY official
followers

🚀 Top 6 Cryptos Under $1 Set to Skyrocket 100x by 2025! 🌟 But before we move forward, Kindly Hit the follow Button to be notified whenever I make a new post or article.... Looking for the next big crypto gems? Here's a quick dive into 6 promising projects under $1 that could explode in 2024! 🚀 Smog Token (SMOG): 🌬️ Riding high on Solana, SMOG offers airdrop rewards and a multi-chain approach, making it a breath of fresh air in the crypto space. Bitcoin Minetrix (BTCMTX): ⛏️ Bringing Bitcoin mining to the masses, BTCMTX offers stake-to-mine features and juicy staking yields, making it a hot buy for those eyeing the next big crypto rocket. Sponge V2 (SPONGEV2): 🧽 Building on the success of SPONGE, Sponge V2 introduces a token swap with enticing staking rewards and a SpongeBob-themed racing game. Get ready for some fast-paced profits! Meme Kombat ($MK): 🎮 Join the GambleFi sector with Meme Kombat! Betting on meme coin battles and dynamic gameplay, $MK promises serious profit potential in the meme fever craze. Verasity ($VRA): 🚫 Fight ad fraud with Verasity's blockchain solution! Burnt tokens, patented tech, and a low market cap make $VRA a fraud-fighting force. Beam ($BEAM): 🎮 Fueling blockchain-powered games, BEAM offers affordable transactions and NFT integration. Beam brings crypto to mainstream games without breaking the bank. In conclusion, these 5 cryptos under $1 offer diverse value drivers, from cloud mining to gaming integrations, fraud prevention, and more. 🌈 Get ready for 2024 with these hidden gems! 👍 Don't forget to like, share, and drop your thoughts in the comments. Stay tuned for more crypto sights! 👍 Remember: Your tips support our mission to provide you with the best investment advice. Invest wisely! 💰 Disclaimer: Cryptocurrency investments carry risks. Do your research before diving in. 💡 #Write2Earn #TrendingTopic #crypto2024

9 days ago
奔跑财经-FinaceRun
奔跑财经-FinaceRun
followers

This article briefly: The Central Bank of Russia has noticed a sharp increase in the criminal use of cryptocurrencies. · “Almost all” illegal schemes in 2023 involved cryptocurrencies, according to the report. ·Binance exited the Russian market due to compliance issues, marking a change in the cryptocurrency landscape. A recent report from the Russian Central Bank highlighted a significant increase in criminal adoption of cryptocurrencies. While the numbers for 2022 are considerable, nearly all fraud schemes in 2023 are cryptocurrency-related. It is worth noting that by 2023, cryptocurrencies are the main vehicle used by “almost all” pyramid schemes and illegal brokerage firms to conduct fraudulent activities. Cryptocurrency scams increase in Russia, according to central bank The Central Bank of Russia stated in a recent report that by 2022, all other fraudulent investment projects in the country used cryptocurrencies. However, this ratio worsened further in the following year (2023). “Since 2022, there has been a fake investment project attracting cryptocurrencies. By 2023, almost all pyramids and illegal brokers are offering in-house token investments or accepting cryptocurrency donations.” Statista predicts that Russia’s annual cryptocurrency revenue will reach $2.8 billion by 2028. In July 2023, foreign media reported that President Putin had signed a digital ruble law. Just a year ago, in July 2022, Putin signed a bill banning cryptocurrencies as the

12 days ago
The Cryptonomist
The Cryptonomist
followers

Yesterday, SEC Chairman Gary Gensler was invited to CNBC to talk about Bitcoin, stating that it is actually not as decentralized and represents a risky investment for retail users. There has also been discussion about the Ransomware market and the ways in which crypto is actually used nowadays. BTC, however, does not seem to care about the words of the SEC commissioner and closed yesterday’s trading day with a +4.22% increase, surpassing the $52,000 threshold overnight. Gensler speaks to CNBC and criticizes Bitcoin for not being truly decentralized Yesterday in an interview with CNBC conducted by Andrew Ross Sorkin and Joe Kerne, the SEC Chairman Gary Gensler expressed all his contrasting opinions on Bitcoin and the topic of regulation in the United States, lamenting that he is facing a crypto asset that is not truly decentralized as described by the narrative of its followers. The discussion started with the hot topic of Bitcoin spot ETFs, approved in January by the same Head of the Securities and Exchange Commission with 11 products launched on the market by the largest US Fund Managers. Gensler explained that the SEC has approved these so-called “Exchange Traded Products” to allow investors to expose themselves to cryptocurrency through a regulated product, as the agency is “neutral on the merits” of an asset, but he himself does not approve of the underlying philosophy of Bitcoin. With an emblematic phrase, he expresses all his disappointment towards the digital asset: “This was in no way an endorsement of bitcoin” Gensler, once he got started, continued to attack Bitcoin by stating that it is not as decentralized as it is claimed to be in reality. His thesis is based on the fact that currently most of the trading volumes on crypto assets are generated by 6 cryptographic exchanges and that in no way can it claim to be decentralized within a financial system like the current one. According to the first commissioner of the SEC, Bitcoin is “just a smart accounting ledger”, but it would need a central bank as support. At this point, “Squawk Box” host Joe Kernen intervened to defend Bitcoin and its label as a decentralized distributed system from Gensler’s criticisms, stating that he trusts the currency’s blockchain more than central banks. JUST IN: SEC Chair Gary Gensler says #Bitcoin is "not that decentralized." pic.twitter.com/KfrVasFfzs — Watcher.Guru (@WatcherGuru) February 14, 2024 The discussion then continued on another front concerning the topic of cyber attacks and ransomware. Gensler would have recognized a value in bitcoin solely as an asset that holds the “market share leader in ransomware“, which is often used for illicit purposes. He emphasized the prevalence of fraud and manipulations in the cryptocurrency sector, citing numerous failures and investor losses. Gensler also pointed out that Bitcoin does not have the support of the central bank and regulations aimed at preventing crime, unlike fiat currencies such as the US dollar. Kernen wanted to counter the superficiality of the SEC chairman by wisely reminding that it is not the means that commit the crime, but the person who uses that means. These are his words: “And then I think about how many things can be used in a harmful way. […] I mean, I can bring a car to a parade and then run someone over, but that doesn’t mean we shouldn’t have cars.” Unleashed Bitcoin surpasses $52,000 overnight and aims for new highs Despite Gensler’s accusations in which Bitcoin has been criticized for its alleged lack of decentralization and the ways in which it is used, the crypto asset doesn’t seem to care and soars for another bullish rally. Yesterday, in fact, the crypto printed a +4.22% on the chart, bringing prices to a value that had not been recorded since December 2021, at the beginning of the previous bear market. During the night, the level of 52,000 USD was reached, which marks a further local high and sets the stage for an attack on 60,000 USD. Today’s morning started with a slight bearish stimulus, which could however be absorbed in a blink of an eye at the opening of the US markets. The price action of Bitcoin is indeed linked to the moment by the netflow trend on new spot ETFs, which shape the levels of supply and selling pressure in the crypto market. In the last few days we have witnessed a positive trend in this metric, with the major Fund Managers accumulating BTC at a rate 12.5 times higher than the coins issued by the daily block rewards. From the point of view of short-term price analysis, we can see how BTC aggressively absorbs every dip, never allowing prices to fall below the 50 EMA on an hourly time frame. The trend seems quite organic, with high volumes supporting the growth of the currency and giving good prospects for future movements. The goal now is to maintain the $50,000 threshold without letting the bears regain this level, and aim for a breakout above $52,500. The current open interest of 14.3 billion gives hope that the rally can continue for a few more days, with speculative interest being high at the moment. However, we would like to remind you that this is the fifth consecutive month that Bitcoin has been experiencing an increase in its value and that the asset may start to be slightly overextended compared to its “fair price”. The trend is clearly bullish, but the correction could be just around the corner. Bitcoin (BTC/USD) Hourly Price Chart

11 days ago
CoinDesk
CoinDesk
followers

The U.S. Securities and Exchange Commission published a new definition for securities dealers, capturing crypto. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. A dealer by any other name The narrative The U.S. Securities and Exchange Commission has put the crypto industry on notice in what may become a whole new front in the sector's legal war with the agency. When the commission approved its new approach to defining securities dealers last week, it did so with full knowledge that it could shake the foundations of decentralized finance (DeFi). And the regulator officially didn't care. Why it matters The new rule could be a blow for U.S. DeFi, but it's more than that. It also suggests the commission's mindset when it comes to policy that affects crypto, and there's more of it coming. Around the same time the agency proposed the dealer rule, it also suggested it wanted to overhaul its definition of what makes an exchange. That proposal was clear in its inclusion of crypto platforms in that expanded category, suggesting the agency is trying to formalize oversight of digital assets firms by making them comply with the same rules as all other securities exchanges. Breaking it down Deep in the recesses of the actual document behind the SEC's final rule on what makes a dealer, it outlined how the commission thought for a moment about whether it just ought to carve DeFi out of the new definition, which could otherwise cover some crypto projects with requirements they register and comply with securities laws. The agency noted that industry commenters told the SEC that such compliance could actually be impossible, but the regulator ultimately shrugged. "If the commission were to revise the final rules to carve out or narrow the application to market participants who transact in crypto asset securities, that alternative would reduce costs for such market participants," it noted in the rulemaking document. So, it wouldn't be fair to everybody else to grant crypto world's argument, the agency decided in that rulemaking, which was narrowly approved in a 3-2 vote with both Republican commissioners vehemently against the move in their public remarks. Though cryptocurrency lobbyists have been calling for the U.S. government to produce regulations for years, these SEC efforts aren't what they had in mind. Beyond the definitions for dealers and exchanges, the agency is also proposing to demand investment advisers only keep their customers' crypto assets with "qualified custodians." That's a term that agency Chair Gary Gensler has argued probably doesn't include today's leading platforms. Both the exchange definition and the custody restrictions are aimed for completion in April, according to the SEC's public agenda. But that was also the stated timeline of the dealer rule that the regulator already finished, so their clock may be running fast. If the agency sticks to dismissing arguments from crypto businesses that say they're being put in impossible positions, the SEC will be approving rules that the firms contend will push them into existential crisis or inability to comply. As a result, the companies will surely keep doing what they've been doing: challenging the regulator in court. It's possible that, beyond the current dispute over what makes a security, the digital assets sector will be arguing in court over what makes an exchange, a dealer and a qualified custodian. Stories you may have missed Australian Judge Hands Split Decision in Market’s Regulator vs Block Earner: An Australian judge ruled a local fintech company, Block Earner, violated the law with its crypto-backed earn product but not with its decentralized finance "Access" service. New York Expands Fraud Case Against Digital Currency Group to $3 Billion: The NYAG case against Digital Currency Group originally alleged $1 billion in fraud. The NYAG now says it found more victims who allegedly lost as much as $3 billion. UK’s Planned Stablecoin Rules Need Reworking, Crypto Advocates Say: The U.K.'s crypto industry is unhappy with proposed stablecoin regulations advocated by the Bank of England and Financial Conduct Authority, and are lobbying for modifications. Prometheum, the Only U.S.-Registered Crypto Platform, Picks Ether as Its First Product: Prometheum will offer custody services for ether, raising questions about the broader classification for cryptocurrencies. This week This week Craig Wright is facing the Crypto Open Patent Alliance in court this week. Read CoinDesk's coverage at the following links. (link) (link) (link) (link) Thursday 19:00 UTC (2:00 p.m. EST) A subcommittee on the House Financial Services Committee will hold a hearing on crypto and illicit finance. Elsewhere: (Wired) The night FTX filed for bankruptcy, it was hacked and hundreds of millions of dollars' worth of crypto were stolen. A recent Department of Justice indictment suggests what happened, Wired's Andy Greenberg reports. (Asterisk Magazine) Headline aside, this is an excellent, easy-to-understand article about the complex system of regulations and industry advances that keep passengers safe when traveling by air. (Law.com) The First Circuit Court of Appeals will review whether the IRS can demand crypto investor data from exchanges, tied to James Harper's long-running case against the IRS collecting data from Coinbase. (The Onion) Lol. If you’ve got thoughts or questions on what I should discuss next week or any other feedback you’d like to share, feel free to email me at nik@coindesk.com or find me on Twitter @nikhileshde. You can also join the group conversation on Telegram. See ya’ll next week!

12 days ago
吴说区块链
吴说区块链
followers

Wu said he learned that the Hong Kong Securities and Futures Commission and the police issued a warning to the public today to beware of suspected fraud involving an entity that is a virtual asset trading platform. The involved entity was confirmed to operate under the name "MEXC". MEXC is suspected of luring victims to join chat groups on social media or instant messaging software under the guise of providing free investment advice. Within these chat groups, victims interested in purchasing cryptocurrency were referred to websites operated by MEXC. The victim was asked to deposit funds into a designated bank account for investment purposes, but later reported difficulties in withdrawing funds. Wu Shuo’s note: The “MEXC” mentioned in the announcement is a counterfeit website of the crypto exchange Matcha (MEXC), not the Matcha Exchange itself.

17 days ago
MarsBit News
MarsBit News
followers

At present, exchange OTC is the main channel for investors in the currency circle to deposit and withdraw funds. Before the release of the "September 4th Announcement" in 2017, investors directly transferred fiat currency to the exchange account to purchase virtual currencies such as Bitcoin. After the "September 4th Announcement" was released, the country increased its supervision of the industry, so the exchange's OTC business was derived. The exchange no longer accepted users' legal currency, but became a platform similar to Taobao that only provides OTC buying and selling order information. Assist users to conduct deposit and withdrawal transactions with merchants, and the exchange does not charge any fees during the entire process. However, with the popularity of virtual currencies such as USDT and their own advantages, more and more black and gray industries use virtual currencies as a media tool for illegal and criminal activities such as money laundering and electronic fraud. Exchange OTC has become the largest criminal risk in the currency circle. Business. Recently, among the typical cases for punishing foreign exchange-related crimes jointly issued by the Supreme People's Procuratorate and the State Administration of Foreign Exchange, there are two cases involving OTC business in the currency circle. Below, the author will analyze the legal risks existing in the OTC business of the currency circle based on cases. Exchange OTC business logic Before analyzing the legal risks, you first need to understand the business logic of the exchange's OTC. From the figure below, it can be clearly seen that the two parties in the entire OTC business are users and OTC merchants. The exchange, as a platform, provides transaction matching and To ensure transaction security, users and merchants obtain transaction order information within the platform and transfer funds off-site through bank cards, Alipay, WeChat and other channels. The transaction target USDT and other virtual currencies are equivalent to transferring funds from an account on the platform.

23 days ago
奔跑财经-FinaceRun
奔跑财经-FinaceRun
followers

Former Locke Lord LLP Attorney Sentenced for Laundering Millions in OneCoin Fraud In a landmark ruling, Mark Scott, a former senior attorney at Locke Lord LLP, was sentenced to 10 years in prison on January 25 for laundering $400 million in connection with the infamous OneCoin Ponzi scheme. Scott’s sentencing by the Southern District of New York follows his conviction in 2019 on multiple counts of bank fraud and money laundering. The verdict was first reported by the Inner City Press. The OneCoin Attorney Launched in 2014 and operating out of Sofia, Bulgaria, OneCoin was initially positioned as a revolutionary cryptocurrency. However, it quickly unraveled as a fraudulent multi-level marketing (MLM) scheme that defrauded over $4 billion from at least 3.5 million victims worldwide between 2014 and 2016. Falsely portrayed as driven by market supply and demand, OneCoin was, in reality, a worthless digital currency whose price was manipulated and arbitrarily set by the scheme’s operators. Scott joined the scheme in September 2015 after meeting OneCoin co-founder Ruja Ignatova, and he played a pivotal role in laundering the proceeds of the fraud. Despite his defense’s claims that he was unaware of the fraudulent nature of OneCoin,

29 days ago
COINCU
COINCU
followers

Key Points: Estonian government overrules court, greenlights HashFlare founders' extradition to the U.S. over $575M Ponzi scheme. Ivan Turogin and Sergei Potapenko accused of using $775M client funds for real estate and luxury cars. Extradition approved, but timeline for facing U.S. fraud charges remains unclear. Estonian government has overturned a previous court ruling in Tallinn, approving the extradition of Ivan Turogin and Sergei Potapenko, founders of the cryptocurrency platform HashFlare, to the United States. The two entrepreneurs are at the center of a massive financial scandal, accused of orchestrating a staggering $575 million Ponzi scheme. The extradition approval follows the arrest of Turogin and Potapenko by Estonian authorities in November 2022, prompted by a written request from the U.S. Department of Justice (DoJ). The indictment against the duo alleges that they duped investors into purchasing fraudulent equipment rental contracts related to HashFlare's cryptocurrency mining service and investing in a crypto bank named Polybius Bank. Prosecutors contend that both ventures were operating as a Ponzi scheme. Estonia Approves HashFlare Duo's U.S. Extradition U.S. authorities further accuse the pair of utilizing a complex network of shell companies to launder a staggering $775 million in client funds. The funds, allegedly siphoned off from unwitting investors, were purportedly used to acquire real estate and luxury cars, according to the allegations. While the approval for extradition has been granted, the specific timeline for Turogin and Potapenko to face fraud charges in the United States remains uncertain. The legal process is likely to unfold in the coming months as both countries navigate the intricacies of international extradition protocols. The case underscores the global implications of financial crimes in the cryptocurrency space and highlights the collaborative efforts between nations to bring alleged perpetrators to justice. As the legal proceedings continue, the crypto community and financial watchdogs will closely monitor the outcome of this high-profile case. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

about 1 month ago
BSC Blockchain Chat
BSC Blockchain Chat
followers

🔺🔺P2P Scam: My bank account freezed🔺🔺 Hi readers today i would tell you how my Bank account got freeze and How can u avoid it and safeguard your funds So actually in Feb this year I was casually eating something and tried to pay through UPI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds. Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked So never ever transact with anyone having less then 50% trades and less then 95% completion rate And always pay on the same bank A/C holder name as name in binance account #P2PScam #Safety (PS: That bank ac is still blocked 😢)

about 1 month ago
Touch bearer
Touch bearer
followers

As of today, January 18, 2024, here's the latest on the Sam Bankman-Fried (SBF) and FTX case: Conviction: SBF was found guilty on all seven counts of fraud, conspiracy, and money laundering on November 2nd, 2023. This includes charges like wire fraud, conspiracy to commit wire fraud, money laundering conspiracy, and securities fraud conspiracy. Sentencing: His sentencing hearing is scheduled for March 28th, 2024. He faces a potential maximum sentence of 20 years in prison for each count, totaling up to 140 years. However, the actual sentence is likely to be significantly lower. Second indictment: A separate, second indictment against SBF and others includes charges of bank fraud conspiracy and foreign bribery conspiracy. His trial for these charges is yet to be scheduled. Impact on FTX and crypto: The collapse of FTX and SBF's conviction continue to cast a shadow on the cryptocurrency industry. While crypto prices have partially recovered, this case underscores concerns about regulation and ethical practices in the space. Ongoing investigations: Investigations into FTX and SBF's activities are still ongoing, including by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). These investigations could lead to further charges against SBF or other individuals involved. Overall: The SBF and FTX case remains a significant event in the history of cryptocurrency. It will be interesting to see how the sentencing plays out, what happens in the second indictment trial, and the long-term consequences for the crypto industry. News rules investment ... follow us to stay ahead. #MANTA #SolanaMemeCoins #Launchpool #btc #Ai

about 1 month ago

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