Category: fraudulent

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Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors

March 31, 2023

Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured…
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Magic Eden to refund users after 25 fake NFTs sold due to exploit

January 5, 2023

Over two dozen fake NFTs were sold on the Magic Eden marketplace over a 24-hour period due to a “massive exploit” on the platform. Nonfungible token (NFT) marketplace Magic Eden has pledged to refund all users who were duped into purchasing fake NFTs on its website as a result of an exploit. In a Jan.…
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