California Attorney General Rob Bonta has announced a $3.9 million settlement with Robinhood Crypto for restricting cryptocurrency withdrawals and not fully disclosing trading practices. The settlement marks the first public action by California’s Department of Justice against a cryptocurrency firm. As part of the settlement, Robinhood must allow customers to withdraw cryptocurrencies to their own…
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The Tennessee Attorney General’s Office has issued a QR code scam alert, warning consumers about fraudulent QR codes used in various scams, including fake cryptocurrency investments. Consumers are urged to verify sources, check codes for tampering, and use secure scanner apps. Tennessee Attorney General Warns of QR Code Scams The Tennessee Attorney General’s Office issued…
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New Jersey’s Attorney General, the Division of Consumer Affairs, and the Bureau of Securities have urged investors to immediately withdraw funds from crypto platform Abra. This follows a multi-state investigation into the platform’s alleged violations of state securities laws. Affected investors will receive refunds, with crypto assets being converted to U.S. dollars. New Jersey Investors…
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North Carolina Attorney General Josh Stein has issued a warning about bitcoin ATM scams, following numerous complaints. The alert outlines tips to avoid such scams, emphasizing caution with unsolicited requests for cryptocurrency payments, online relationships turning financial, verifying investment advice, and avoiding get-rich-quick schemes. Victims are urged to report scams to local law enforcement and…
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Around 50 Chinese nationals have reportedly been apprehended by Libyan authorities following allegations of running a cryptocurrency mining facility within the city of Zliten, local reports detail. Cryptocurrency mining is strictly prohibited by law in Libya. Libyan law enforcement officials have disclosed that the mining operation, situated in an abandoned iron factory, was effectively dismantled.…
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According to a court document filed recently in the Voyager Digital bankruptcy case, the U.S. Federal Trade Commission (FTC) is investigating the marketing of the crypto firm. Like the U.S. Securities and Exchange Commission (SEC), the FTC has objected to Binance US purchasing Voyager’s assets. FTC’s Objection to Voyager’s Proposed Sale Plan Could Impact Bankruptcy…
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On Feb. 6, 2023, law firm Kirkland & Ellis issued a subpoena to FTX co-founder Sam Bankman-Fried and top executives on behalf of Voyager Digital. The subpoena requested they produce documents and communications related to the “Alameda Loan Agreement” between Alameda Ventures and Voyager, as well as other important documents. Additionally, Voyager Digital has subpoenaed…
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After the offices of crypto lender Nexo were raided in Bulgaria, the digital currency lending platform experienced a significant amount of withdrawals starting Jan. 12, 2023. An archived snapshot of Nexo’s real-time attestation shows that the company held 133,263 bitcoin on that day. As of Jan. 13, 2023, Nexo’s attestation indicates that the company now…
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According to several reports, Bulgarian law enforcement officials are investigating crypto lender Nexo for alleged money laundering and sanctions violations. Siika Mileva, a spokesperson for Bulgaria’s attorney general, said the probe into Nexo is a large-scale operation involving 300 investigators from various agencies, including the National Security Service, Gendarmerie, and Sofia Police. Bulgarian Law Enforcement…
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On Jan. 5, 2023, the state of New York and attorney general Letitia James filed a lawsuit against Alex Mashinsky, the co-founder and former CEO of Celsius. The lawsuit claims that Mashinsky and Celsius defrauded “hundreds of thousands of investors, including more than 26,000 New Yorkers, out of billions of dollars worth of cryptocurrency.” Former…
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