According to cybersecurity firm Certik, nearly $1 billion in cryptocurrency has been pilfered due to scams, rug pulls, and exploits throughout 2023. The company highlighted that the combined incidents in August alone led to a loss of $45.8 million. Certik Analysis: Cryptocurrency Losses Near $1 Billion The digital security and smart contract auditing firm Certik…
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The U.S. Securities and Exchange Commission (SEC) filed a lawsuit Friday against Richard Schueler, known as Richard Heart, and his companies Hex, Pulsechain, and Pulsex, alleging they raised more than $1 billion through unregistered securities offerings. SEC Lawsuit Accuses Richard Heart of Running Unregistered Securities Offerings The SEC complaint alleges that beginning in December 2019,…
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Court documents filed on May 17, 2023, reveal that current executives overseeing FTX and its subsidiary, Alameda Research, have initiated a lawsuit against Sam Bankman-Fried, the former CEO of FTX, Nishad Singh, FTX’s former director of engineering, and Zixiao “Gary” Wang, co-founder of FTX. The legal action stems from the exchange’s ambitious FTX Stocks project,…
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Another member of Sam Bankman-Fried’s inner circle allegedly plans to plead guilty to criminal charges for his role in the alleged fraud that occurred at the cryptocurrency exchange FTX. According to unnamed sources familiar with the matter, Nishad Singh, FTX’s former director of engineering, is attempting to negotiate a deal with New York prosecutors. Sources…
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Federal prosecutors have seized $697 million in assets, mostly comprised of more than 56 million Robinhood shares worth $526 million, from FTX co-founder Sam Bankman-Fried. Court filings detailed that the U.S. government seized a series of bank accounts belonging to Bankman-Fried, holding millions in cash. US Government Seizes Millions in Cash and Robinhood Shares From…
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