An Indian national has pleaded guilty in a case involving “the largest single cryptocurrency and cash seizure” in the U.S. Drug Enforcement Administration (DEA) history. The defendant “is designated as a Consolidated Priority Target, which makes him one of the most significant drug trafficking threats in the world,” the U.S. Department of Justice (DOJ) described.…
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From purchasing cocaine to uncovering a multimillion-dollar glitch, the story of James “Jimmy” Zhong reads like a dark comedy. Zhong, a computer science graduate, exploited a vulnerability on Silk Road to steal over 50,000 bitcoin, evading detection for nearly a decade while living a life of luxury. The Unbelievable Tale of Jimmy Zhong: From Cocaine…
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Mark Scott, a lawyer entangled in the infamous Onecoin cryptocurrency fraud, was sentenced to 10 years in prison by the U.S. District Court. The sentencing comes after a 2019 conviction. Onecoin Lawyer Mark Scott Receives Decade-Long Prison Sentence Mark Scott, a lawyer associated with the infamous crypto firm, was sentenced to a decade in prison.…
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Craig Wright, who claims to be the creator of Bitcoin, has presented a non-negotiable settlement, potentially ending the contentious legal battle over the true identity of Satoshi Nakamoto, Bitcoin’s pseudonymous founder. Bitcoin’s Alleged Creator Proposes Settlement Amidst Forged Document Allegations Craig Wright, the self-proclaimed inventor of Bitcoin, has made a public, non-negotiable settlement offer to…
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The cryptocurrency lending platform Nexo has submitted a $3 billion arbitration claim against the Republic of Bulgaria, following a raid on its office in 2023 and a subsequent probe by the Bulgarian Prosecutor General’s Office. Nexo alleges that these actions harmed its business prospects. ‘Politically Motivated’ Allegations The Switzerland-based crypto lending platform Nexo AG has…
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In a judicial rebuke, the Federal Court of Canada ruled that the Trudeau government’s decision to freeze cryptocurrencies during the 2022 “Freedom Convoy” protests was unconstitutional. Trudeau Government’s Emergency Powers Challenged: Court Rules Crypto Freeze Unlawful In a ruling on Jan. 23, the Federal Court of Canada deemed the Trudeau government’s use of the Emergencies…
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A South Korean court has sent a drug dealer who sold narcotics to crypto-paying “customers” to jail for seven years. Per the news agency Yonhap, the Criminal Division of the Busan District Court also ordered the unnamed individual – referred to by the media as “A” – to pay a fine of over $9,000. The…
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Roman Storm, facing multiple federal charges related to his role in the creation of Tornado Cash, is bracing for a trial in the United States. Scheduled for September 2024, the trial could have far-reaching implications for the crypto industry and digital privacy laws. Roman Storm Pledges Vigorous Defense in Upcoming U.S. Trial Tornado Cash co-founder…
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The Colorado Securities regulator has accused the pastor of an online-only church of illegally pocketing $1.3 million which was raised via the sale of a cryptocurrency he created. A judge in Colorado has since ordered the closure of the pastor and his wife’s bank accounts for 14 days. ‘The Lord Brought This Cryptocurrency to Me’…
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Ripple Labs has opposed the requests by the U.S. Securities and Exchange Commission (SEC) for post-compliant discovery concerning XRP. Ripple argued that the regulator’s requests are “untimely” and “the SEC has failed to justify each of its requests on the merits.” Moreover, the crypto firm stated that “the information the SEC seeks has no bearing…
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