Longfin, a blockchain-related firm that conducted a $27 million IPO in 2017, has been ordered to repay $223 million to investors. A Manhattan federal judge has ruled that Longfin — a now defunct firm whose shares surged 1000% in 2017 after it bought an undervalued crypto company — must repay $223 million plus interest to…
Read more
The purported investment fund is exhibiting some shady behavior. Last week Cointelegraph published a story about investors having difficulty getting their money back from a crypto fund called AMFEIX, which promised high-yield profits for investors who sent them Bitcoin (BTC). Our story described more than 500 pending withdrawals from users trying to get their money…
Read more
New York’s State attorney general has wide latitude to investigate a foreign entity like iFinex, said a NY appeals court. A New York State appeals court affirmed on July 9 that the state attorney general’s fraud investigation into iFinex et al. — i.e., iFinex, Bitfinex and Tether Holdings — could continue. Whether that probe will…
Read more
Man sentenced to two years and six months in prison after multi-million dollar crypto fraud. A South Korean court has sentenced an unnamed 43-year-old man to two years and six months in prison for his participation in a $249 million crypto mining pyramid scheme. According to Yonhap Lee Sang-wook, the judge at the Incheon District…
Read more
Russian media reported that Marsalek is hiding in Russia with funds that he was able to transfer there with Bitcoin. Wirecard chief operating officer Jan Marsalek reportedly used Bitcoin (BTC) to move funds from Dubai to Russia. Russian media outlet Kommersant reported on July 20 that Marsalek is hiding in Russia with funds that he…
Read more
Russian intelligence might have a lot to do with helping former Wirecard COO Jan Marsalek disappear into thin air. Jan Marsalek, the former chief operations officer of Wirecard who went missing after his supposed trip to the Philippines last month to chase the missing 2 billion Euro in the company’s books, has been located in…
Read more
Cointelegraph cracks down on impersonators claiming to be staff as part of an ongoing investigation with Coinfirm. Over the last several months, a number of people claiming to be Cointelegraph staff have paraded around LinkedIn and Telegram, as well as through email. These efforts often attempt to lure unsuspecting victims into sending payments in exchange…
Read more
When it comes to counterfeiting booze, wine is an easy target. Fortunately, blockchain makes a particularly good pairing with the wine market. For wine collectors, provenance is everything. With as much as 20% of all wine circulating the globe deemed to be fake, it’s hardly surprising. In days past, sniffing out a bogus burgundy required…
Read more
In the civil case against him, Abramoff owes $55,000, but the judgment in the criminal case remains to be seen. Per a July 15 judgment in the case of the SEC v. Abramoff, Jack Abramoff will pay $55,000 in disgorgement and interest for his involvement in promotion for AML Bitcoin. Abramoff will also be permanently…
Read more
Whale Alert alleges that crypto scams are skyrocketing in 2020 compared to statistics from 2017. Blockchain tracking and analytics platform, Whale Alert, revealed that over the past four years, scammers have stolen over $38 million worth of Bitcoin (BTC). New heights could be reached at the end of 2020 Whale Alert’s study, which relies on…
Read more
