Browsing:Crypto

288 dark web vendors apprehended, $55M in crypto and cash seized
12 months ago 1 min read

Massive crackdown: Over 280 dark web vendors arrested, $55M worth of crypto and cash seized

Europol has dealt a significant blow to the dark web’s drug trade, arresting 288 drug vendors, shutting down Monopoly Market, and seizing over EUR 50.8 million (USD $55.69 million) in cash and cryptocurrencies, 850 kg of drugs, and 117 firearms. Codenamed SpecTor, this operation involved the coordinated efforts of nine countries – the United States, United Kingdom, Germany, Netherlands, Austria, France, Switzerland, Poland, and Brazil. Monopoly Market’s criminal infrastructure was seized in December 2021, and Europol’s compilation of intelligence packages using this evidence was the basis for hundreds of national investigations. In total, the 288 suspects arrested were active on

Poloniex Resolves OFAC Sanctions Violation Charges with $7.6M Settlement
12 months ago 1 min read

Poloniex Agrees to Pay $7.6 Million to Settle OFAC Charges

Cryptocurrency exchange Poloniex has agreed to pay a $7.6 million settlement to the Office of Foreign Assets Control (OFAC) for allowing customers in sanctioned countries to trade and transact digital currencies. OFAC found that Poloniex facilitated over $15.3 million worth of transactions for customers in Iran, Cuba, Sudan, and Syria between 2014 and 2019. The company did not voluntarily disclose these violations and only started blocking prohibited IP addresses in 2017, despite having KYC information and IP address data. In addition to the OFAC settlement, Poloniex has previously settled with the US Securities and Exchange Commission (SEC) and Canada’s Ontario

Coinbase Hit with Lawsuit Over Alleged Privacy Violations in Biometrics Collection
12 months ago 1 min read

Coinbase Sued Over Biometrics Collection: Privacy Breach Allegations

Cryptocurrency exchange Coinbase is facing a proposed class-action lawsuit over allegations of violating Illinois biometric privacy laws by collecting and storing customer fingerprints and facial templates. According to a filing in a California District Court by a Coinbase user, the exchange’s requirement for customers to upload pictures of a valid ID and a self-portrait for Know Your Customer (KYC) checks violates certain provisions of the Biometric Information Privacy Act (BIPA) in Illinois. The lawsuit argues that BIPA required Coinbase to obtain permission from users when collecting their biometrics and provide the purpose for collecting such data, how long it would

Ripple Labs and the US SEC continue their legal battle without a verdict
12 months ago 1 min read

Ripple Vs. SEC: Speculation Arises Over Undisclosed Meeting Next Week

Ripple Labs and the US Securities and Exchange Commission (SEC) continue their legal battle without a verdict, but rumors suggest a potential undisclosed meeting between the parties on May 8. The meeting has led to speculation about a possible settlement. However, XRP community attorney John E. Deaton doubts the rumor’s validity, believing that Ripple and the SEC can meet anytime they want. Deaton suggests that a settlement would only happen after a ruling by Judge Torres and if Ripple wins a big victory. Moreover, Ripple could be concerned about the regulatory safety of its partners. Deaton believes Ripple CEO Brad

Peter Brandt Forecasts Dominance of Bitcoin Over Altcoins, Expects Market Shift
12 months ago 1 min read

Trader Peter Brandt Says Bitcoin Will Outperform Altcoins, Leave Pretenders in the Dust

Renowned trader Peter Brandt, known for accurately predicting the 2017 Bitcoin (BTC) crash, has shared his thoughts on the future of Bitcoin in the current crypto market. In a recent tweet to his 696,000 followers, Brandt stated that BTC is set to outperform all other digital assets, and the Bitcoin dominance chart (BTC.D) could hold the key. Brandt’s attention is focused on BTC.D, which tracks how much of the total crypto market capitalization belongs to BTC. According to him, BTC.D has been consolidating in a large rectangle for about two years, and a decisive breakout from this range could have

Crypto lender Celsius has been embroiled in a court fight
12 months ago 1 min read

Celsius Plans to Merge UK and US Entities Following Accusations of Misrepresentation

Crypto lender Celsius has been embroiled in a court fight over the mingling of its UK and US entities. Court filings allege that the distinction between the two entities was a “sham” and that billions of dollars transferred between them were fraudulent. The firm has faced accusations of poor record-keeping in its corporate structure, with a lack of internal records making it difficult to disentangle each entity’s affairs. In 2021, Celsius set up a Limited Liability Company in Delaware and sought to transfer assets through a series of financial transactions, which regular customers were not fully informed of. The court

CZ Sparks Excitement Among SHIB Holders with Mention in AMA
12 months ago 1 min read

SHIB Army Goes Wild as CZ Mentions SHIB in Latest AMA

In a recent AMA session, Changpeng Zhao, the head of Binance exchange, mentioned the meme coin SHIB, causing a stir among fans of the Shiba Inu-themed cryptocurrency. The mention was made during a discussion on meme cryptocurrencies, where CZ admitted that he did not fully understand them. However, he acknowledged that there are some people who do, like Elon Musk and others. Many SHIB fans took to Twitter to inquire about the specifics of CZ’s mention, with some jokingly speculating that he may have referenced SHIB’s recent price drop. The author of the original tweet did not provide any clarification,

The first and only global conference focused on blockchain
12 months ago 1 min read

The first and only global conference focused on blockchain, and crypto funds to take place on 22 Sept in Limassol, Cyprus

The first and only global conference focused on blockchain, and crypto funds is going to take place on 22 September in Limassol, Cyprus, Europe. No crypto projects will be presenting.  The conference will welcome about 200 participants, mainly investment professionals, Family Offices, Wealth Managers, Bankers, High Net Worth  Individuals, and Accredited Individual Investors. They will come primarily from regions of Central and Eastern Europe, Middle East and Africa.  What can be expected? The high-class venue, a lot of networking, top-notch speakers, and global blockchain field experts. Don’t miss this opportunity.   More info and tickets here: https://www.g4f-conference.com.cy/  Conference is organized by

Binance's native crypto BNB is gaining traction, Sui farming
12 months ago 2 mins read

Binance Launches SUI Farming Amid Market Retreat, BNB Bucks the Trend

As the crypto market retreats, Binance’s native cryptocurrency BNB is gaining traction, propelled by the latest Binance Launchpool project, Sui farming. On April 30, Binance announced that it was launching Sui as its 33rd project on Binance Launchpool. The incentive allows Binance customers to farm SUI tokens using staked BNB and TrueUSD (TUSD). The farming incentives began on May 1 and will run for two days, according to the announcement. Binance will list SUI when its liquidity meets the requirements, and four trading pairs will be available: SUI/BTC, SUI/USDT, SUI/TUSD, and SUI/BNB. SUI is a delegated proof of stake (DPoS)

$100M Lost in April Due to Security Breaches.
12 months ago 1 min read

$100M Worth of Crypto Stolen in April Due to Hacks and Exploits: Report

Crypto attacks in April exceeded $100 million, with DeFi platforms being the primary target. According to CertiK, a blockchain security company, hackers, and scammers managed to steal $103.6 million through various means like exploits, hacks, and exit scams. Flash loans were one of the most commonly used attack methods, resulting in a loss of $19.9 million. Exit scams cost victims $9.4 million, while exploits resulted in the most significant losses, with $74.5 million stolen this way. The biggest attack was on MEV Bots, which suffered $25.3 million in losses due to an exploit. Bitrue and GDAC were the next two

JPMorgan Chase to acquire troubled First Republic Bank assets in FDIC agreement
12 months ago 1 min read

JPMorgan moves to acquire troubled First Republic Bank

First Republic Bank (FRB) is set to be acquired by JPMorgan Chase after early efforts to rescue it failed. On May 1, the California Department of Financial Protection and Innovation closed FRB and entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) as the receiver. JPMorgan will assume all assets of FRB, including uninsured deposits, which currently amount to $229.1 billion in assets and $103.9 billion in deposits. In addition, a loss-sharing agreement was agreed upon between the FDIC and JPMorgan for residential and commercial loans acquired by the FRB. As part of the transfer, 84 locations of

Nigeria's SEC is considering licensing digital exchanges dealing in tokens backed by assets such as equity
12 months ago 1 min read

Nigeria considers allowing asset-backed tokens, but crypto still faces restrictions: Bloomberg

Nigeria’s Securities and Exchange Commission (SEC) is considering licensing digital exchanges dealing in tokens backed by assets such as equity, debt, and property, according to a report by Bloomberg. However, the country’s regulators have no immediate plans to permit crypto trading. Head of securities and investment services at the SEC, Abdulkadir Abbas, said that the agency prefers to start with a clear proposal before moving on to more complex ones. The SEC in Nigeria has already started processing applications for digital exchanges, but Nigeria’s central bank has been restricting crypto trading in the country. The SEC plans to register fintech

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