Author: Mohammed Ali

Article written by Mohammed Ali

Founder of IcomTech sentenced to 10 years for running a crypto Ponzi scheme

October 9, 2024 1 min read

David Carmona, the mastermind behind the fraudulent IcomTech Ponzi scheme, has been sentenced to 10 years in prison by a US court for deceiving investors in a cryptocurrency scam. This decision was revealed on October 4 by the US Attorney’s Office for the Southern District of New York. IcomTech, which began operations in 2018, falsely marketed itself as a cryptocurrency mining and trading company, enticing investors with promises of high

Christopher DeVocht turns $88,000 into $415 million by investing in Tesla stock

October 5, 2024 1 min read

Christopher DeVocht, an investor who once transformed an $88,000 investment into a staggering $415 million through Tesla stock, is now facing a significant financial setback and has filed a lawsuit against his financial advisors. After initially enjoying substantial gains from Tesla’s soaring stock prices, DeVocht’s fortune evaporated when the market took a downturn, leading to the complete loss of his wealth. In his lawsuit, DeVocht accuses his financial advisors of

Sui TVL Hits $1B, Surpassing Polygon (MATIC) and Optimism (OP)

October 1, 2024 1 min read

Sui, the cutting-edge Layer 1 blockchain, has made waves by surpassing the $1 billion mark in Total Value Locked (TVL), now ranking as the 8th largest blockchain in the space. This impressive growth, over 2700% in just a year, is fueled by its innovative features like the DeepBook central limit order book and a thriving developer ecosystem. With a strong focus on decentralized finance (DeFi), Sui has outpaced established players

VanEck predicts that both a Harris or Trump presidency in 2024 could boost Bitcoin

September 22, 2024 1 min read

VanEck, an asset management firm, has forecasted that both Kamala Harris and Donald Trump may yield favorable results for Bitcoin. A Harris president may expedite Bitcoin adoption owing to structural hurdles and more defined laws, potentially providing Bitcoin a competitive advantage over other digital currencies. Despite apprehensions regarding more stringent regulations under Gary Gensler or Elizabeth Warren, VanEck posits that the prospective economic policies of a Harris administration could still

DuelNow Launches P2P Sports Betting Prediction Marketplace

September 20, 2024 4 mins read

DuelNow – a prediction market that eliminates the need for a traditional house by allowing bettors to set their own custom odds for crypto-based sports bets, has officially launched to the public. The marketplace offers users a decentralized, peer-to-peer betting experience that is easy, fair, and more secure, with the added advantage of removing commissions and reducing fees. Building on this foundation, DuelNow elevates the betting experience by operating on the

Arthur Hayes, co-founder of BitMEX, says Bitcoin (BTC) will have a strong week

September 15, 2024 1 min read

Arthur Hayes, co-founder of BitMEX, anticipates a bullish week for Bitcoin due to probable market developments that will help altcoins such as Sui (SUI). He believes that Bitcoin’s value may increase if market conditions continue to deteriorate. Hayes has expressed unhappiness with the Federal Reserve’s policies, claiming that they have not done enough to reduce government expenditure, which is the primary source of inflation. He expects Treasury Secretary Janet Yellen

Bitcoin Hits $60K and Likely Has More Room to Rally

September 14, 2024 1 min read

Cryptocurrencies, notably Bitcoin (BTC), surged on Friday, with Bitcoin hitting the $60,000 mark. The market was supported by robust advances in traditional markets, including Bitcoin, which recovered from a 1% decline to $57,600 after MicroStrategy announced its purchase of 18,300 BTC for $1 billion. Ethereum’s ether price increased by 2.7%, while crypto analytics firm IntoTheBlock reported that Ethereum’s fee revenue increased by roughly 60% in the last week as a

US court dismisses a class-action lawsuit against Atomic Wallet due to no jurisdiction

September 11, 2024 1 min read

A federal judge in the United States has dismissed a class-action lawsuit against the Estonian cryptocurrency business Atomic Wallet and its principal individuals, citing insufficient jurisdiction. The lawsuit was initiated in 2023 by users following a $100 million breach in June. The plaintiffs contended that Atomic Wallet had rendered its application accessible for download in Colorado and promoted it on platforms such as X, so establishing jurisdiction. Graham Dickinson, one

Penpie DeFi protocol suffers a $27 million hack, causing its token to drop 40%

September 4, 2024 1 min read

Penpie, a decentralized finance (DeFi) protocol operating on Pendle’s platform, experienced a severe security breach on Wednesday, leading to a loss of $27 million in digital assets. Cyvers, a blockchain security firm, reported the hack after detecting unusual behavior associated with Penpie’s contracts. The hacker infiltrated Penpie’s system by exploiting a crypto mixing service, carrying out a malevolent transaction that enabled them to pilfer many tokens, such as staked Ethereum

The US SEC raises objections to FTX’s bankruptcy plan, citing legal concerns

September 3, 2024 1 min read

The U.S. Securities and Exchange Commission (SEC) has raised concerns regarding FTX’s proposed bankruptcy restructuring plan, despite receiving significant support from creditors. The SEC may raise objections to the ratification of the proposal unless certain adjustments are implemented, which represents a substantial obstacle for the ailing cryptocurrency exchange. Additionally, the SEC has demanded the removal of the discharge provision and offered additional modifications to the plan and the proposed confirmation

Binance faces allegations of seizing Palestinian crypto assets at Israel’s request

August 28, 2024 1 min read

Binance crypto exchange is being accused of confiscating Palestinian bitcoin holdings upon the Israeli government’s request. Ray Youssef, one of the founders of the peer-to-peer crypto platform Paxful and CEO of the Noones peer-to-peer platform, claims that Binance confiscated all assets belonging to Palestinians and declined to give them back, despite multiple requests. He cautions that this may result in more extensive confiscation of assets throughout the area, underscoring the

This whale acquires 347 WBTC worth over $117M within just 12 hours on August 19

August 20, 2024 1 min read

An anonymous whale has been acquiring Wrapped Bitcoin (WBTC), collecting more than $118 million worth of WBTC within a brief period. The whale has accumulated a total of 1,953 WBTC, acquired at an average cost of $58,853 per coin. The last transaction involved the purchasing of 347 WBTC, which was valued at almost $16 million. This transaction took place within a span of under 12 hours on August 19. The