A Serbian and Italian national has been ordered to pay bail in cryptocurrency while he faces charges that he hacked the computer network of a San Francisco game company. According to a news release from the United States Attorney’s Office, an…
Tag: Crime
US Judge Delays Crypto Fraud Ruling Pending CFTC Response
A federal judge has postponed any decision on a crypto fraud case brought by the Commodity Futures Trading Commission (CFTC) against alleged scammer Patrick McDonnell. Judge Jack Weinstein of the Eastern District of New York wrote in a court order Thursday…
Bithumb Claims to Have Retrieved $14 Million in Hacked Cryptos
South Korean cryptocurrency exchange Bithumb says it has almost halved the losses arising from a recent hack. As previously reported by CoinDesk, Bithumb, one of the largest crypto exchanges in South Korea and the world by trading volume, was hacked…
Founders of ICO Endorsed By Floyd Mayweather Indicted for Fraud
The three co-founders of cryptocurrency firm Centra Tech have all been indicted by a grand jury, the U.S. Attorney for the Southern District of New York announced Monday. Raymond Trapani, Sohrab Sharma and Robert Farkas have all been accused of…
The Crypto Community Must Use the Blockchain to Self-Police
Yaya J. Fanusie is the director of analysis at the Foundation for Defense of Democracies’ Center on Sanctions and Illicit Finance. He tweets at @signcurve. Self-policing illicit activity on the blockchain may soon be a necessity for the cryptocurrency space.…
Bitcoin Pyramid Scheme Allegedly Hoaxed $20 Billion In South Korea
Two suspects from South Korea have allegedly used a pyramid scheme that involves bitcoin to swindle some $20 million from investors in the country. The news was made public as a judge from Seoul’s Incheon District Court has issued a…
How to Defend Yourself Against Pump-and-Dump Crypto Scams
Tanzeel Akhtar is an independent British journalist whose work has been published in the Wall Street Journal, CNBC, FT Alphaville, Investing.com, Forbes, Euromoney and Citywire. “Pump and dump” schemes have been around since long before cryptocurrency was invented. What’s striking…
Report: Kazakhstan’s Central Bank Wants to Ban Cryptocurrencies
The National Bank of Kazakhstan wants to ban cryptocurrency trading and mining in the European nation, its chairman said. Speaking to Sputnik News, Daniyar Akishev said the central bank is “taking [a] very conservative approach” towards cryptocurrencies, looking for “extremely…
Quebec Pushes Hydropower Utility to Halt New Bitcoin Mines
The Canadian province of Quebec has temporarily put a halt to the development of new cryptocurrency mining operations. The region – known for its cheap hydropower – has been an attractive destination for cryptocurrency miners looking to expand their businesses. Yet on…
Tough Tokens: Theranos Fraud Holds Harsh Lessons for Crypto
Marc Hochstein is the managing editor of CoinDesk. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. “Innovators who seek to revolutionize and disrupt an industry must tell investors the truth about what…