The Brazilian Senate has approved a recently presented cryptocurrency policy, advancing the project to discussions in the deputy chamber. The proposal will have to be greenlighted by the deputies of Congress and signed by President Jair Bolsonaro to be approved as law. The project presented is the result of the fusion of several law projects…
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Russian law enforcement authorities have detained six more members and executives of the notorious crypto Ponzi scheme Finiko. Police in the Republic of Tatarstan and Russia proper have conducted dozens of searches as part of an ongoing investigation into the pyramid, which defrauded investors around the world. New Arrests in Finiko Case Made in Russian…
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The Brazilian Congress is trying to approve a cryptocurrency legal framework before the end of Q2. According to reports from local media, The proponents of the different law projects presented in the Senate and the Congress have stated they will seek the unification of the projects due to their similarity. This new unified project presents…
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Anyone can become the victim of a malicious NFT hack, so what more could OpenSea do to protect its users? The nonfungible token (NFT) market has been booming since the summer of 2021 and as NFT prices skyrocketed, so too did the number of hacks targeting NFTs. The most recent high-profile hack siphoned approximately 600…
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Members of the team of the now defunct Turkish crypto exchange Thodex may receive thousands of years in prison, if the court backs the prosecutor’s plea in the case. The trading platform’s CEO has been missing for the past year since Thodex suspended activities in a suspected exit scam. Turkey Seeks up to 40,000 Years…
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Russian law enforcement agencies have gone after the organizers of a large crypto pyramid which has been promising extraordinarily high returns. The Ponzi scheme is being unraveled after a similar project defrauded thousands of investors in Russia, the region, and far beyond. Police Find Crypto Pyramid Organizers in Dagestan, Russia Officers from the Federal Security…
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NFT creators and marketplaces have been targeted by the SEC for conducting illegal activity in a new wave of regulatory action against unregistered securities. The U.S. Securities and Exchange Commission (SEC), led by crypto-skeptical Chairman Gary Gensler, is reportedly investigating NFT creators and marketplaces for securities violations, according to a report from Bloomberg. Anonymous sources…
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Scams have started exploiting the desire of many in the crypto community to support Ukraine’s efforts to withstand Russia’s military assault and help its citizens endure the conflict. As the country is raising millions in bitcoin, a report has indicated that fraudulent schemes luring donors to “help Ukraine” with cryptocurrency are on the rise. Crypto…
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A San Diego-based federal grand jury charged Kumbhani for orchestrating an alleged Ponzi scheme via BitConnect’s “Lending Program” among other allegations. The founder of the infamous crypto exchange BitConnect, Satish Kumbhani, has been charged for allegedly misleading investors globally and defrauding them of $2.4 billion in the process. According to the Department of Justice (DOJ),…
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Scammers have been using advanced hacking bots on Telegram designed to trick investors into divulging their two-factor authentication, leading to accounts being locked and wiped out. Cybercriminals are using bots purchased on Telegram to trick users into giving them access to their cryptocurrency accounts. According to a report from cybersecurity firm Intel471, One Time Password…
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