Does an extortion attempt from Russian hackers explain Schiff’s hatred for Bitcoin? This morning, millionaire broker and noted Bitcoin skeptic Peter Schiff awoke to find his bank under renewed scrutiny due to an international criminal investigation. According to reporting from Australian newspaper The Age and The New York Times, the J5 — a joint task…
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Losses due to crypto scams are on the rise in Belgium. Belgium’s financial watchdog has reported scammers stole up to $12 million from investor in the country using fraudulent ads. In an Oct. 5 warning from the Financial Services and Markets Authority (FSMA), the watchdog estimated that investors in Belgium had lost at least 10…
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The Department of Justice made headlines in crypto and elsewhere, leading a week of law enforcement locking down around the world. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note Historians typically date the birth of international policing as we know it today…
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The CFTC continues its roll of crypto announcements this week in a recent fraud bust-up. On Friday, the Commodity Futures Trading Commission made a fraudster pay back $7.4 million to investors while vowing to protect the Bitcoin market. Per the CFTC’s announcement, James McDonald, Director of the commission’s enforcement division, said The CFTC will continue working to…
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A crypto escrow executive has pled guilty to defrauding his client out of $3.25 million. The U.S. Department of Justice (DoJ) announced that the principal of crypto asset escrow company Volantis Market Making has pled guilty to commodities fraud worth more than $3.25 million on October 1. Volantis executive, 49-year-old Jon Barry Thompson, made false…
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Researchers are warning that the supposed scheme could have swindled billions. The team behind Arbistar, a crypto trading bot developer, announced that it would be shutting down a popular trading tool known as Community Bot. According to a press release published by Arbicorp, the company that runs Arbistar, the platform is not currently allowing deposits.…
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Too many make strong claims without evidence. Emin Gün Sirer, founder and CEO of the blockchain protocol, Avalanche, took to Twitter to explain why he considers that many blockchain projects keep applying dubious strategies in the industry. Sirer considers that some projects are based on “lots of hype, lots of technical-sounding claims,” partnership with companies…
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With regulators unlikely to change old-fashioned rules in favor of the emerging market, DeFi might be burdened under fraud and new portions of restrictions. Over the years, we have seen a lot of trends such as initial coin offerings, initial exchange offerings, security token offerings, decentralized autonomous organizations and many more, but none of these…
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The cases of the robber’s two accomplices are still pending. A major suspect in a high-profile theft case related to Bitcoin (BTC) trading has pleaded guilty in a Singaporean court. Syed Mokhtar Syed Yusope, an accomplice in a $360,000 robbery, pleaded guilty in a district court to a robbery charge on Sept. 9, Singeporean news…
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The alleged crypto scam websites are still intact. A securities regulator in the United States, the Texas State Securities Board (TSSB), has detected another batch of alleged cryptocurrency scams. On Sept. 3, Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order against two alleged crypto scam schemes known as Forex Birds…
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